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Nonprofiteer
← SOLA I CAN FOUNDATION

Form 990 for tax year 2023

Filed by SOLA I CAN FOUNDATION.

Totals

Total revenue
$7,185,507
Total expenses
$2,746,742
Contributions and grants received
$7,345,881
Grants paid
$414,868
Program service revenue
$16,598
Investment income
$0
Other revenue
-$176,972
Total assets, end of year
$8,152,829
Total liabilities, end of year
$1,558,016
Net assets or fund balances, end of year
$6,594,813
Program services expenses (Part IX)
$2,221,045
Management and general expenses
$466,025
Fundraising expenses
$59,672
Program service expenses (Part III)
$2,221,045

Program services were 80.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $266,276

  • 1f · All other contributions, gifts and grants

    $7,079,605

  • 1g · Noncash contributions included above

    $17,348

  • 2a · Program service revenue: TECH. AND ENTREPRENEUR

    total $16,598 · related or exempt $16,598

  • 6a · Gross rents

    real property $48,132

  • 6b · Less rental expenses

    real property $38,308

  • 6c · Rental income or loss

    real property $9,824

  • 6d · Net rental income or loss

    total $9,824 · excluded $9,824

  • 8a · Fundraising events: gross income

    $72,659

  • 8a · Fundraising events: contributions included on line 1c

    $266,276

  • 8b · Fundraising events: direct expenses

    $259,455

  • 8c · Net income from fundraising events

    total -$186,796 · excluded -$186,796

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $29,000 · program services $29,000

  • 2 · Grants to domestic individuals

    total $385,868 · program services $385,868

  • 7 · Other salaries and wages

    total $1,040,293 · program services $832,234 · management and general $156,044 · fundraising $52,015

  • 8 · Pension plan contributions

    total $20,619 · program services $16,495 · management and general $3,093 · fundraising $1,031

  • 9 · Other employee benefits

    total $45,299 · program services $36,239 · management and general $6,795 · fundraising $2,265

  • 10 · Payroll taxes

    total $81,953 · program services $65,562 · management and general $12,293 · fundraising $4,098

  • 11b · Fees: legal

    total $349 · management and general $349

  • 11c · Fees: accounting

    total $18,840 · management and general $18,840

  • 11g · Fees: other

    total $229,473 · program services $215,201 · management and general $14,272

  • 13 · Office expenses

    total $33,521 · program services $26,217 · management and general $7,304

  • 16 · Occupancy

    total $374,872 · program services $374,872

  • 17 · Travel

    total $18,451 · program services $18,451

  • 19 · Conferences, conventions and meetings

    total $30,568 · program services $30,568

  • 22 · Depreciation, depletion and amortization

    total $193,072 · management and general $193,072

  • 23 · Insurance

    total $32,751 · program services $4,216 · management and general $28,272 · fundraising $263

  • 24a · Other expenses: SUPPLIES

    total $97,440 · program services $97,440

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $64,164 · program services $38,498 · management and general $25,666

  • 24c · Other expenses: MAINTENANCE

    total $50,085 · program services $50,085

  • 24d · Other expenses: PROF. DEVELOPMENT

    total $99 · program services $99

  • 24e · All other expenses

    total $25 · management and general $25

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,808 · end of year $142,778

  • 2 · Savings and temporary cash investments

    beginning of year $1,272,578 · end of year $4,720,043

  • 7 · Other notes and loans receivable

    beginning of year $1,000 · end of year $1,000

  • 10a · Land, buildings and equipment: cost or other basis

    $2,122,314

  • 10b · Land, buildings and equipment: accumulated depreciation

    $323,804

  • 10c · Land, buildings and equipment, net

    beginning of year $955,310 · end of year $1,798,510

  • 15 · Other assets

    beginning of year $0 · end of year $1,490,498

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,766 · end of year $33,698

  • 25 · Other liabilities

    beginning of year $0 · end of year $1,524,318

  • 27 · Net assets without donor restrictions

    beginning of year $2,216,930 · end of year $6,594,813

Mission and programs · 2023

Mission

THE SOLA I CAN FOUNDATION IS BUILT ON A SIMPLE PREMISE: IF YOU CAN SEE IT, YOU CAN BE IT. SOLA I CAN WORKS TO END INTERGENERATIONAL POVERTY IN SOUTH LOS ANGELES THROUGH COMMUNITY DEVELOPMENT AND CREATING NEW ACCESS TO ECONOMIC AND EDUCATIONAL OPPORTUNITY.

Activities or mission (Part I)

SOLA I CAN WORKS TO END INTERGENERATIONAL POVERTY IN SOUTH LOS ANGELES

  • TECHNOLOGY & ENTREPRENEURSHIP CENTER (TEC): PROVIDE ACCESS TO CAREER DEVELOPMENT & ENTREPRENEURSHIP ACCESS TO EDUCATION & TECH INNOVATION ACCESS TO FINANCIAL LITERACY & ECONOMIC MOBILITY ACCESS TO COLLEGE READINESS

    Expenses $1,257,237 · Grants $55,436 · Revenue $16,598

  • SOLA SCHOLARS: PROVIDING SCHOLARSHIPS AND COLLEGE SUPPORT TO INSPIRING SOUTH LA HIGH SCHOOL SENIORS COMMITTED TO PURSUING A HIGHER EDUCATION AND MAKING AN IMPACT IN THEIR COMMUNITY. (ACCESS TO COLLEGE SCHOLARSHIPS)

    Expenses $554,925 · Grants $190,046

  • T4T GRANT (1000 X 1000): PROVIDING 1,000 HOTSPOTS AT NO COST TO INDIVIDUALS / FAMILIES FOR 1,000 DAYS

    Expenses $408,883 · Grants $169,386

As filed on the 2023 return.

Listed in Part VII

  • Sherri Francois

    PRESIDENT/EXEC. DIR.

    Total calculated
    $0
    Hours/week
    40

  • Michael Bernstein

    TREASURER

    Total calculated
    $0
    Hours/week
    20

  • Shirley Montalvo

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Daniel Rosove

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    20

  • James Fauntelroy

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Melissa Zawacki

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jade Iovine

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kristen Jeffers

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Rahshiene Taha

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kianna Scott

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202423199349306617

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