Civic Intelligence

Soarway Foundation

990 • Fiscal year 2023 • EIN 47-3883147

Jan 01, 2023 to Dec 31, 2023 • Filed on Apr 25, 2024

Organization Profilewww.soarway-foundation.org
5022 Grand Beech CtHaymarket, VA 20169

(703) 401-2951

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

58th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

59th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

91st percentile

52%

Higher net margin than 91% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

98th percentile

679%

Faster asset growth than 98% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

88th percentile

86%

Faster revenue growth than 88% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets58th percentile

Assets

Up

$137,402

Up $119,763 (+679%) from 2022

Net Assets

Up

$137,402

Up $169,763 (+525%) from 2022

Liabilities

Down

$0

Down $50,000 (-100%) from 2022

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin91st percentile

Revenue

Up

$232,216

Up $107,551 (+86%) from 2022

Expenses

Down

$112,453

Down $83,073 (-42%) from 2022

Net Income

Up

$119,763

Up $190,624 (+269%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150K$100K$50K$0-$50KAssets 2015: $23,952Liabilities 2015: $0Net Assets 2015: $23,9522015Assets 2016: $21,653Liabilities 2016: $0Net Assets 2016: $21,6532016Assets 2018: $90,201Liabilities 2018: $0Net Assets 2018: $90,2012018Assets 2019: $16,218Liabilities 2019: $0Net Assets 2019: $16,2182019Assets 2020: $85,690Liabilities 2020: $54,833Net Assets 2020: $30,8572020Assets 2021: $81,477Liabilities 2021: $47,810Net Assets 2021: $33,6672021Assets 2022: $17,639Liabilities 2022: $50,000Net Assets 2022: -$32,3612022Assets 2023: $137,402Liabilities 2023: $0Net Assets 2023: $137,4022023Assets 2024: $69,979Liabilities 2024: $0Net Assets 2024: $69,9792024

Highlighted filing

2023

Assets$137,402
Liabilities$0
Net Assets$137,402
Open 2023 Filing

Operations Trend

Revenue Growth88th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0-$100K-$200KRevenue 2015: $107,044Expenses 2015: $83,092Net Income 2015: $23,9522015Revenue 2016: $146,543Expenses 2016: $148,842Net Income 2016: -$2,2992016Revenue 2018: $173,936Expenses 2018: $132,372Net Income 2018: $41,5642018Revenue 2019: $46,554Expenses 2019: $152,289Net Income 2019: -$105,7352019Revenue 2020: $173,480Expenses 2020: $158,841Net Income 2020: $14,6392020Revenue 2021: $259,348Expenses 2021: $256,538Net Income 2021: $2,8102021Revenue 2022: $124,665Expenses 2022: $195,526Net Income 2022: -$70,8612022Revenue 2023: $232,216Expenses 2023: $112,453Net Income 2023: $119,7632023Revenue 2024: $41,455Expenses 2024: $108,878Net Income 2024: -$67,4232024

Highlighted filing

2023

Revenue$232,216
Expenses$112,453
Net Income$119,763
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Apr 25, 2024
Return Version
2023v5.1
Gross Receipts
$232,216
Mission and Program Overview

Mission

The soarway foundation's purpose is to address, coordinate, and provide aid and relief to nepal on a local and global level.

The Soarway Foundations purpose is to address, coordinate and provide aid and relief to Nepal on a local and global level.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$16,886$136,950▲ $120,064
Land, Buildings, and Equipment, Net$753$452▼ $301
Total Assets$17,639$137,402▲ $119,763
Liabilities
Mortgage Notes Payable Secured by Investment Property$50,000--
Total Liabilities$50,000$0▼ $50,000
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-32,361$137,402▲ $169,763
Total Net Assets Fund Balance$-32,361$137,402▲ $169,763
Total Liabilities and Net Assets / Fund Balance$17,639$137,402▲ $119,763

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$452$1,222-
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Joshua LamancusaPresident
Devin OrsiExecutive Vice President
Scott DeLisiExecutive Director
Eric SagunSecretary
Anthony LagneseTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$232,216
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$119,763
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$55,880
Salaries, Compensation, and Employee Benefits$43,060
Other Expenses$13,513
Total Fundraising Expense$8,894
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$55,880--$55,880
Other Salaries and Wages-$40,000-$40,000
Payroll Taxes-$3,060-$3,060
All Other Expenses--$2,392$2,392
Fees for Services Accounting-$1,500-$1,500
Insurance-$958-$958
Other Expenses-$797$205$797
Office Expenses-$648-$648
Information Technology-$415-$415
Depreciation Depletion$301--$301
Advertising--$157$157
Total Functional Expenses$56,181$47,378$8,894$112,453
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fund Raising----
Fund Raising----
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“The Soarway Foundations purpose is to address, coordinate and provide aid and relief to Nepal on a local and global level.”

Governing documents etc available to public Part VI line 19

“Documents Availabe to Public”

Filing and Contact Details

Filer

Filer Name
The Soarway Foundation
EIN
47-3883147
Address
5022 Grand Beech Ct, Haymarket, VA 20169

Signing Officer

Name
Scott DeLisi
Title
Executive Direc
Phone
7034012951
Signed
2024-04-25
Discuss with paid preparer
Yes

Organization Details

Formed
2015
Legal Domicile
Va
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Keya Accounting & Tax Services LLC
Address
3615 Chain Bridge Road Suite C, Fairfax, VA 22030
Preparer
Keshab Baral
Phone
5712168951
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0400009694
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KEYA ACCOUNTING & TAX SERVICES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03615 Chain Bridge Road Suite C
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Fairfax
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd022030
ReturnHeader/PreparerPersonGrp/PhoneNum05712168951
ReturnHeader/PreparerPersonGrp/PreparationDt02024-09-23
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Keshab Baral
ReturnHeader/ReturnTs02024-09-23T13:25:32-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$137,402
Liabilities
$0
Net assets
$137,402
Revenue
$232,216
Expenses
$112,453
Net income
$119,763
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.70$0.00$0.70$0.41$1.09$0.67
2023Detailed filing. Detailed filing data is available for this year.$1.37$0.00$1.37$2.32$1.12$1.20
2022Detailed filing. Detailed filing data is available for this year.$0.18$0.50$0.32$1.25$1.96$0.71
2021Detailed filing. Detailed filing data is available for this year.$0.81$0.48$0.34$2.59$2.57$0.03
2020Detailed filing. Detailed filing data is available for this year.$0.86$0.55$0.31$1.73$1.59$0.15
2019Detailed filing. Detailed filing data is available for this year.$0.16$0.00$0.16$0.47$1.52$1.06
2018Detailed filing. Detailed filing data is available for this year.$0.90$0.00$0.90$1.74$1.32$0.42
2016Detailed filing. Detailed filing data is available for this year.$0.22$0.00$0.22$1.47$1.49$0.02
2015Detailed filing. Detailed filing data is available for this year.$0.24$0.00$0.24$1.07$0.83$0.24