Soul Friends Inc
Nonprofit profile at a glance
- EIN
- 431986520
- IRS 990 coverage
- 2022–2024
- Forms available
- Form 990 2024, Form 990-EZ 2023
- Location
- Wallingford, CT, USA
- Phone
- 2035106926
- Rating
- 72
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Mental Health Treatment F31 Psychiatric, Mental Health Hospital
Reported finances
- Revenue
- $320,064
- Expenses
- $295,205
- Assets
- $63,310
- Liabilities
- $6,423
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
11 people listed
Executive titles in this filing
- Kate Nicoll (CEO)
Highest reported compensation
- Kate Nicoll (CEO): $5,710 total reported compensation
- Riley O'Connell (Executive Dir.): $1,600 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide innovative clinical and educational programs that promote the healing benefits of the human-animal bond in animal assisted psychotherapy programs, nature therapy and humane education.
What it reported doing in 2024
Over 2,000 clinical mental health visits incorporating animals, nature, play, therapy and art. Provided a clinical family therapy curriculum for veteran and first responder families incorporating horses with presentations internationally provided a yearlong program of animal assisted services to local schools
Operating model
- Revenue model
- Earned-program. 83% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 75
- Transparency & Controls: 78
- Accountability: 60
- Sustainability: 37
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 77.1%; rating input score 77
- Program expense ratio: 83.6%; rating input score 84
- Fundraising efficiency: $10.43 raised per $1 spent on fundraising; rating input score 40; 40th percentile among comparable filings
Transparency & Controls
- Consistency checks: 81.8%; rating input score 82; 1st 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: 87.5%; rating input score 88; 24th percentile among comparable filings
- Governance controls: 2 of 9 controls in place; rating input score 22
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Fail
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 7.8%; rating input score 56; 56th percentile among comparable filings
- Total-asset coverage ratio: 0.21; rating input score 12; 12th percentile among comparable filings
- Liabilities to assets ratio: 0.1; rating input score 26; 26th percentile among comparable filings
- Officer compensation ratio: 2.5%; rating input score 35; 35th percentile among comparable filings
Growth
- Program expense growth: 12.8% per year; rating input score 100; 75th percentile among comparable filings
- Revenue growth: 11% per year; rating input score 100; 75th percentile among comparable filings
- Asset growth: 1.9% per year; rating input score 100; 33rd percentile among comparable filings
Details
- Where the money goes: 77.1% of revenue deployed · 83.6% of spending went to programs
- Governance: 7 of 8 board members independent · 2 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $247K in reported program spending
- Leadership: top reported pay $6K · 11 people listed
- Highest-paid contractors: 2 contractors listed · $50K reported
- Consistency: 22 of 24 current checks pass · 2 findings to review
- Schedules: 4 filed schedules · includes major donors
- Filing history: 2 filing years from 2022 to 2024
- Contacts: How to reach this organization
- Money network: 3 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Accountability: Governance controls: 6 of 8 not reported.
- Moderate — Financial Efficiency: Fundraising efficiency scored 40/100.
- High — Sustainability: Total-asset coverage ratio scored 12/100.
- Review — Sustainability: Operating margin scored 56/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX FeesForServicesOther column sum did not reconcile in the filed values.
- High — Sustainability: Liabilities to assets ratio scored 26/100.
- Moderate — Sustainability: Officer compensation ratio scored 35/100.