Civic Intelligence

The Soar Foundation

990 • Fiscal year 2023 • EIN 94-3255490

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 11, 2024

Organization ProfileWWW.SOARONLINE.ORG
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

40th percentile

0.07x

Higher debt load relative to assets than 40% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

59th percentile

0.26x

Higher debt load relative to revenue than 59% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

93rd percentile

59%

Higher net margin than 93% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

84th percentile

31%

Faster asset growth than 84% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

88th percentile

61%

Faster revenue growth than 88% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets40th percentile

Assets

Up

$6,016,345

Up $1,418,400 (+31%) from 2022

Net Assets

Up

$5,579,619

Up $981,674 (+21%) from 2022

Liabilities

Up

$436,726

Up $436,726 from 2022

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin93rd percentile

Revenue

Up

$1,661,698

Up $631,482 (+61%) from 2022

Expenses

Down

$680,024

Down $26,471 (-3.7%) from 2022

Net Income

Up

$981,674

Up $657,953 (+203%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth84th percentile

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

2023

Assets$6,016,345
Liabilities$436,726
Net Assets$5,579,619
Open 2023 Filing

Operations Trend

Revenue Growth88th percentile

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

2023

Revenue$1,661,698
Expenses$680,024
Net Income$981,674
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 11, 2024
Return Version
2023v5.1
Gross Receipts
$1,661,698
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. Also extended mission to help preschoolers.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,958,329$5,149,715▲ $2,191,386
Cash and Non-Interest-Bearing Accounts$1,629,315$859,353▼ $769,962
Land, Buildings, and Equipment, Net$2,760$2,609▼ $151
Prepaid Expenses and Deferred Charges$4,559$2,039▼ $2,520
Intangible Assets$315$537▲ $222
Accounts Receivable$75$0▼ $75
Savings and Temporary Cash Investments-$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-
Inventories for Sale or Use-$0-
Total Assets$4,597,945$6,016,345▲ $1,418,400
Other Assets Total$2,592$2,092▼ $500
Liabilities
Accounts Payable and Accrued Expenses-$436,725-
Other Liabilities-$1-
Total Liabilities$0$436,726▲ $436,726
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,036,618$3,018,292▲ $981,674
Net Assets With Donor Restrictions$2,561,327$2,561,327→ $0
Total Net Assets Fund Balance$4,597,945$5,579,619▲ $981,674
Total Liabilities and Net Assets / Fund Balance$4,597,945$6,016,345▲ $1,418,400

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,609$28,840$31,449
Other Land Buildings-$1,394$1,394
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Davy KaoChairman
Lisa GuoPresident
Alec WangBoard Member
Chin ChenBoard Member
Eva XuBoard Member
Iris LeeBoard Member
Kathy ZhuBoard Member
Li LiBoard Member
Lily ZhangBoard Member
Moon-pin TzeBoard Member
Rebecca ChangBoard Member
Siu-fong HuangBoard Member
Tzuo Chang LeeBoard Member
Weihan WangBoard Member
Annie ChenCFO
George XiaSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$824,467
Program Service Revenue
$0
Investment Income
$104,752
Other Revenue
$732,479
All Other Contributions
$752,850
Change in Net Assets
$981,674
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$598,433
Other Expenses$45,784
Professional Fundraising Fees$20,938
Total Fundraising Expense$20,938
Salaries, Compensation, and Employee Benefits$14,869

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$598,433--$598,433
Fees for Services Professional Fundraising--$20,938$20,938
Other Salaries and Wages-$8,785-$8,785
Other Employee Benefits-$6,084-$6,084
All Other Expenses-$4,651-$4,651
Other Expenses-$2,327-$2,327
Fees for Services Accounting-$1,457-$1,457
Insurance-$1,417-$1,417
Depreciation Depletion-$1,253-$1,253
Fees for Services Other-$735-$735
Travel-$276-$276
Office Expenses-$77-$77
Total Functional Expenses$598,433$60,653$20,938$680,024
International Activity

International Summary

Employees
1

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
ChinaOperation & AdministrationNot Apply01$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$20,938
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
Rounding$1
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, Section B, Line 11B

“No review was or will be conducted.”

Form 990, Part VI, Section C, Line 19

“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
2024-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Li Li
Formed
1995
Legal Domicile
CA
Voting Board Members
16
Independent Board Members
0
Employees
0

Preparer

Firm
Wang Accountancy Corp
Address
2050 Concourse Dr Ste 34, San Jose, CA 95131
Preparer
Jung-Mei Rosemary Wang
Phone
4089981688
Supplemental Narrative

Additional Explanations

Statement Note 1

“Statement for part xii - finanical statements and reporting line 1:the taxpayer prepares the form 990 using accrual basis for more than two most recent filed tax years. The previous returns indicated "cash" method, but was incorrect. The taxpayers is changing the box to "accrual" to correct. The taxpayer is forgoing filing a form 3115 - application for change in accrual method because the underlying method used to prepare the form 990 did not change, but rather it was incorrectly indicated on form 990.”

Raw XML AppendixShowing 400 of 514 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
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Filings

Displayed year

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

Open filing
Assets
$6,016,345
Liabilities
$436,726
Net assets
$5,579,619
Revenue
$1,661,698
Expenses
$680,024
Net income
$981,674
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