Civic Intelligence

The Soar Foundation

990 • Fiscal year 2020 • EIN 94-3255490

Jan 01, 2020 to Dec 31, 2020 • Filed on Sep 13, 2021

39812 mission blvd suite 203fremont, CA 94539

(510) 675-0680

Siviq Scores

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

Liabilities / Assets

44th percentile

0.12x

Higher debt load relative to assets than 44% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

62nd percentile

0.34x

Higher debt load relative to revenue than 62% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

92nd percentile

57%

Higher net margin than 92% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

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

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

86th percentile

41%

Faster asset growth than 86% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

87th percentile

48%

Faster revenue growth than 87% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Assets

Up

$5,062,584

Up $1,460,633 (+41%) from 2019

Net Assets

Up

$4,433,600

Up $1,052,272 (+31%) from 2019

Liabilities

Up

$628,984

Up $408,361 (+185%) from 2019

Revenue

Up

$1,836,099

Up $592,969 (+48%) from 2019

Expenses

Up

$783,827

Up $134,971 (+21%) from 2019

Net Income

Up

$1,052,272

Up $457,998 (+77%) from 2019

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2010: $402,322Liabilities 2010: $0Net Assets 2010: $402,3222010Assets 2011: $540,046Liabilities 2011: $2Net Assets 2011: $540,0442011Assets 2012: $562,676Liabilities 2012: $0Net Assets 2012: $562,6762012Assets 2013: $729,834Liabilities 2013: $0Net Assets 2013: $729,8342013Assets 2014: $1,649,255Liabilities 2014: $0Net Assets 2014: $1,649,2552014Assets 2015: $2,034,684Liabilities 2015: $0Net Assets 2015: $2,034,6842015Assets 2016: $2,552,361Liabilities 2016: $0Net Assets 2016: $2,552,3612016Assets 2017: $2,726,383Liabilities 2017: $42,671Net Assets 2017: $2,683,7122017Assets 2018: $2,949,258Liabilities 2018: $162,204Net Assets 2018: $2,787,0542018Assets 2019: $3,601,951Liabilities 2019: $220,623Net Assets 2019: $3,381,3282019Assets 2020: $5,062,584Liabilities 2020: $628,984Net Assets 2020: $4,433,6002020Assets 2021: $5,611,233Liabilities 2021: $287,081Net Assets 2021: $5,324,1522021Assets 2022: $4,597,945Liabilities 2022: $0Net Assets 2022: $4,597,9452022Assets 2023: $6,016,345Liabilities 2023: $436,726Net Assets 2023: $5,579,6192023Assets 2024: $8,414,595Liabilities 2024: $315,985Net Assets 2024: $8,098,6102024

Highlighted filing

2020

Assets$5,062,584
Liabilities$628,984
Net Assets$4,433,600

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0Expenses 2010: $573,5552010Expenses 2011: $332,4252011Revenue 2012: $455,628Expenses 2012: $438,436Net Income 2012: $17,1922012Revenue 2013: $598,957Expenses 2013: $431,799Net Income 2013: $167,1582013Revenue 2014: $1,358,243Expenses 2014: $439,773Net Income 2014: $918,4702014Revenue 2015: $900,288Expenses 2015: $514,859Net Income 2015: $385,4292015Revenue 2016: $1,066,124Expenses 2016: $548,447Net Income 2016: $517,6772016Revenue 2017: $731,995Expenses 2017: $600,644Net Income 2017: $131,3512017Revenue 2018: $829,101Expenses 2018: $665,781Net Income 2018: $163,3202018Revenue 2019: $1,243,130Expenses 2019: $648,856Net Income 2019: $594,2742019Revenue 2020: $1,836,099Expenses 2020: $783,827Net Income 2020: $1,052,2722020Revenue 2021: $1,552,895Expenses 2021: $920,038Net Income 2021: $632,8572021Revenue 2022: $1,030,216Expenses 2022: $706,495Net Income 2022: $323,7212022Revenue 2023: $1,661,698Expenses 2023: $680,024Net Income 2023: $981,6742023Revenue 2024: $1,805,263Expenses 2024: $630,924Net Income 2024: $1,174,3392024

Highlighted filing

2020

Revenue$1,836,099
Expenses$783,827
Net Income$1,052,272
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Sep 13, 2021
Return Version
2020v4.0
Gross Receipts
$3,410,946
Mission and Program Overview

Mission

To grant junior and senior high school scholarships and college scholarships to china and taiwan rural area poverty students.

To grant senior high school scholarships and college scholarships to china rural area in poverty.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,259,815$3,674,076▲ $1,414,261
Cash and Non-Interest-Bearing Accounts$1,252,036$1,382,108▲ $130,072
Savings and Temporary Cash Investments$83,515$0▼ $83,515
Land, Buildings, and Equipment, Net$4,374$4,244▼ $130
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$3,601,951$5,062,584▲ $1,460,633
Other Assets Total$2,211$2,156▼ $55
Liabilities
Accounts Payable and Accrued Expenses$220,623$612,884▲ $392,261
Other Liabilities-$16,100-
Total Liabilities$220,623$628,984▲ $408,361
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,414,273$3,255,327▲ $1,841,054
Net Assets Without Donor Restrictions$1,967,055$1,178,273▼ $788,782
Total Net Assets Fund Balance$3,381,328$4,433,600▲ $1,052,272
Total Liabilities and Net Assets / Fund Balance$3,601,951$5,062,584▲ $1,460,633

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,244$25,369$29,613
Other Land Buildings-$1,394$1,394
Compensation and Service Providers

Board Members and Trustees

NameTitle
Rebecca ChangPresident
Li LiVice President
Angelina YeeBoard Member
Bonnie YipBoard Member
Chin ChenBoard Member
Davy KaoBoard Member
Eva XuBoard Member
Iris LeeBoard Member
Kc HuaBoard Member
Lily HsuehBoard Member
Lisa GuoBoard Member
Lois HuangBoard Member
Moon-pin TzeBoard Member
Phil ChoongBoard Member
Siu-fong ChangBoard Member
Tzuo Chang LeeBoard Member
Victor JiangBoard Member
Annie ChenCFO
Revenue and Support

Revenue Composition

Contributions and Grants
$1,267,412
Program Service Revenue
$0
Investment Income
$568,687
Other Revenue
$0
All Other Contributions
$1,264,837
Change in Net Assets
$1,052,272
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$710,502
Other Expenses$64,627
Salaries, Compensation, and Employee Benefits$8,698
Total Fundraising Expense$649
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$710,502--$710,502
Fees for Services Accounting-$17,050-$17,050
Other Salaries and Wages-$8,698-$8,698
All Other Expenses-$6,416$649$7,065
Other Expenses-$4,648-$4,648
Depreciation Depletion-$1,210-$1,210
Insurance-$-46-$-46
Total Functional Expenses$710,502$72,676$649$783,827
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Accounting Expense$16,100
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
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, Part VI, Line 11B: Form 990 Review Process

No review was or will be conducted.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
The Soar Foundation
EIN
94-3255490
Phone
5106750680
Address
39812 mission blvd suite 203, fremont, CA 94539

Signing Officer

Name
Annie Chen
Title
CFO
Signed
2021-09-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rebecca Chang
Formed
1995
Legal Domicile
CA
Voting Board Members
18
Independent Board Members
0
Employees
0

Preparer

Firm
Wang Accountancy Corp
Address
28 N First St Suite 900, San Jose, CA 95113
Preparer
Jung-Mei Rosemary Wang
Phone
4089981688
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IRS990/Form990PartVIISectionAGrp/TitleTxt14Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt15CFO
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IRS990/MethodOfAccountingCashInd0X
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IRS990/MissionDesc0TO GRANT SENIOR HIGH SCHOOL SCHOLARSHIPS AND COLLEGE SCHOLARSHIPS TO CHINA RURAL AREA IN POVERTY.
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IRS990/NoListedPersonsCompensatedInd0X
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IRS990/OccupancyGrp/TotalAmt00
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IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0OFFICE RENTAL
IRS990/OtherExpensesGrp/Desc1NOMINATORS EXPENSE
IRS990/OtherExpensesGrp/Desc2Public Relations
IRS990/OtherExpensesGrp/Desc3BANK CHARGES & FEES
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IRS990ScheduleA/PublicOrganization170Ind0X
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0577363
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02687721
IRS990ScheduleA/TotalSupportAmt03087905
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt04244

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.41$0.32$8.10$1.81$0.63$1.17
2023Detailed filing. Detailed filing data is available for this year.$6.02$0.44$5.58$1.66$0.68$0.98
2022Detailed filing. Detailed filing data is available for this year.$4.60$0.00$4.60$1.03$0.71$0.32
2021Detailed filing. Detailed filing data is available for this year.$5.61$0.29$5.32$1.55$0.92$0.63
2020Detailed filing. Detailed filing data is available for this year.$5.06$0.63$4.43$1.84$0.78$1.05
2019Detailed filing. Detailed filing data is available for this year.$3.60$0.22$3.38$1.24$0.65$0.59
2018Detailed filing. Detailed filing data is available for this year.$2.95$0.16$2.79$0.83$0.67$0.16
2017Detailed filing. Detailed filing data is available for this year.$2.73$0.04$2.68$0.73$0.60$0.13
2016Detailed filing. Detailed filing data is available for this year.$2.55$0.00$2.55$1.07$0.55$0.52
2015Detailed filing. Detailed filing data is available for this year.$2.03$0.00$2.03$0.90$0.51$0.39
2014Detailed filing. Detailed filing data is available for this year.$1.65$0.00$1.65$1.36$0.44$0.92
2013Detailed filing. Detailed filing data is available for this year.$0.73$0.00$0.73$0.60$0.43$0.17
2012Summary only. Only limited summary data is available for this year.$0.56$0.00$0.56$0.46$0.44$0.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.54$0.00$0.54$0.33
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.40$0.00$0.40$0.57