Soles4Souls

What it reported doing in 2024

During fy25, soles4souls continued its partnership with street business school. Through this collaboration, our partners trained 86 entrepreneurs in the dominican republic, 58 in haiti, and 8 in the philippines. Additionally, four soles4souls employees, three of whom are women, were certified as trainers.more than 1.25 million children in the united states are experiencing homelessness. Addressing this critical need, soles4souls continues to respond with our 4everykid program, an initiative that provides a pair of new athletic shoes to k-12 students in the united states who are experiencing homelessness. We know that when children have their basic needs met, they feel more confident, can participate in sports, and stay focused on their learning. During fy25, soles4souls distributed 112,648 pairs of shoes and 264,891 pairs of socks to students experiencing homelessness through 270 partners nationwide.a core component of the soles4souls mission is providing relief to people impacted by natural and humanitarian disasters. During fy25, soles4souls provided apparel, footwear and additional accessories to respond to domestic and international relief efforts. Through its robust partner network, soles4souls continued to serve recent arrivals to the u.s., those displaced by natural disasters, and individuals experiencing humanitarian hardships through strong alliances with local, regional and global organizations. In response to soles4souls crises, soles4souls provided donations to trusted partners to distribute within their direct networks. Soles4souls has also remained steadfast in its response efforts in eastern europe to support ukrainian relief efforts. In fy25 alone, soles4souls directly supplied 526,457 pairs of shoes, 461,258 pieces of clothing and 402,516 units of accessories, socks and other items to organizations focused on disaster relief. On average, items were distributed within 6-12 weeks post disaster.through its many distribution programs described above, soles4souls diverted 10,764,538 pairs/pieces from landfills totaling approximately 9,608,465 pounds of product. Since inception, soles4souls has diverted 103,191,885 pairs/pieces from landfills totaling approximately 99,042,253 pounds. Through the soles4souls global experiences program, volunteers from across the united states join soles4souls staff on distribution trips to countries where it has partner microenterprise operations to experience first-hand providing shoes to people in these developing countries. During fy25, soles4souls conducted 23 trips with approximately 195 individuals traveling to honduras, guatemala, dominican republic and the united states.

Financial Efficiency

• Mission deployment rate: 91.8%; rating input score 92
• Program expense ratio: 93.7%; rating input score 94
• Fundraising efficiency: $23.85 raised per $1 spent on fundraising; rating input score 61; 61st percentile among comparable filings

Transparency & Controls

• Consistency checks: 83.3%; rating input score 83; 0th percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Missing
  • Independent consultant: Pass
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: 1 of 8 controls in place; rating input score 12
  • Claims monitoring procedures: Pass
  • Requires narrative reports: Fail
  • Conducts field audits: Fail
  • May suspend future funding: Fail
  • Requires financial reports: Fail
  • Conducts site visits: Fail
  • Requires grant agreements: Fail
  • May require repayment: Fail
• Grant itemization coverage: 85.5%; rating input score 86; 19th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: No; rating input score 0

Accountability

• Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • 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: 2%; rating input score 42; 42nd percentile among comparable filings
• Total-asset coverage ratio: 0.49; rating input score 18; 18th percentile among comparable filings
• Liabilities to assets ratio: 0.07; rating input score 86; 86th percentile among comparable filings
• Officer compensation ratio: 2.9%; rating input score 40; 40th percentile among comparable filings

Growth

• Program expense growth: 7.5% per year; rating input score 100; 61st percentile among comparable filings
• Revenue growth: 6.6% per year; rating input score 100; 57th percentile among comparable filings
• Asset growth: 9.7% per year; rating input score 100; 68th percentile among comparable filings