Soar Career Solutions

Nonprofit profile at a glance

EIN
411449179
IRS 990 coverage
2010–2023
Forms available
Form 990 2023
Location
Duluth, MN, USA
Phone
2187276351
Rating
87
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,066,866
Expenses
$1,073,289
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • LAURA KROLLMAN (PRESIDENT)

Highest reported compensation

  • EMILY EDISON (EXECUTIVE DI): $86,953 total reported compensation
  • ANN MILLER (FINANCE DIRE): $65,579 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Soar inspires personal transformation through career development

What it reported doing in 2023

Soar has over 40 years of experience supporting low-income individuals to address physical, emotional and psychological barriers that keep them from securing and maintaining sustainable employment. Soar implements two programs. Employment services assists clients 1:1 to create career & educational action plans, build soft skills & job search skills, develop resumes & applications, connect to job trainings in partnership with the trades & post-secondary institutions, connect to apprenticeship opportunities & assist with job retention. In fy23-24, soar worked with 402 clients; 64% of who participated in workshops and increased their work readiness knowledge; 78% of clients who enrolled in educational services, obtained a diploma, degree, credential or certification; and 74% of job seekers got a job with an average wage of 22.70/hour.

Operating model

Revenue model
Grant-funded. 81% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 19
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.9%; rating input score 86
  • Program expense ratio: 85.4%; rating input score 85
  • Fundraising efficiency: $205.01 raised per $1 spent on fundraising; rating input score 92; 92nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.6%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 14.2%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 5.4% per year; rating input score 100; 46th percentile among comparable filings
  • Revenue growth: 4.1% per year; rating input score 100; 40th percentile among comparable filings
  • Asset growth: -1.8% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 85.9% of revenue deployed · 85.4% of spending went to programs
  • Governance: 9 of 9 board members independent · 8 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $916K in reported program spending
  • Leadership: top reported pay $87K · 11 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 13 filing years from 2010 to 2023
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Sustainability: Operating margin scored 35/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.