Solid Foundation Youth Outreach Inc

Nonprofit profile at a glance

EIN
770617835
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Paterson, NJ, USA
Phone
9733064687
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Youth Development Programs

Official website

Reported finances

Revenue
$699,758
Expenses
$670,729
Assets
$351,173
Liabilities
$292,975

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Highest reported compensation

  • STEVEN WOLFE (EXECUTIVE DI): $87,351 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Solid offers empowering programs that inspire, connect and support young people to maximize their potential and equip them to radically impact their community and beyond.

What it reported doing in 2024

After 20+ years of mobile programs in parks and borrowed space, we officially opened our first youth center to the public. This allows us to drastically expand programs. At our afterschool program, solid minds club, we offer a safe space, homework help, art workshops, and a meal for students. Additionally, our skateclub (under 18) and skatenights (over 18) programs provide a safe place for youth and young adults to connect in community, exercise, and express themselves.

Operating model

Revenue model
Grant-funded. 74% 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: 84
  • Transparency & Controls: 90
  • Accountability: 95
  • Sustainability: 34
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.5%; rating input score 83
  • Program expense ratio: 86.1%; rating input score 86
  • Fundraising efficiency: $56.73 raised per $1 spent on fundraising; rating input score 80; 80th 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4.1%; rating input score 48; 48th percentile among comparable filings
  • Total-asset coverage ratio: 0.52; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: 0.83; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 13%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 15.5% per year; rating input score 100; 76th percentile among comparable filings
  • Revenue growth: 13.2% per year; rating input score 100; 75th percentile among comparable filings
  • Asset growth: 19.1% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: 82.5% of revenue deployed · 86.1% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $577K in reported program spending
  • Leadership: top reported pay $87K · 6 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 5 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 48/100.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.