Souly Business Inc
- Assets
- $190.9k
- Revenue
- $169.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Alpharetta, GA
- Founding
- 11/2004
- Data as of
- 12/2021
- EIN
- 20-1438541
Organization Overview
Souly Business Inc is located in Alpharetta, GA. The organization was established in 2004. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Souly Business Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Souly Business Inc generated $169.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.7%) each year. All expenses for the organization totaled $132.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF SOULY BUSINESS IS TO CREATE ENVIRONMENTS IN WHICH BUSINESSMEN ARE INSPIRED BY THE HOLY SPIRIT TO MOVE PURPOSEFULLY TO LIVE OUT THEIR CHRISTIAN FAITH IN THEIR PERSONAL AND PROFESSIONAL LIVES. THIS IS ACCOMPLISHED PRIMARILY THROUGH RETREATS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
- HOSTED 12 VIRTUAL RETREAT GATHERINGS SINCE COVID SIDELINED IN PERSON GATHERINGS. - CONTINUED PREPARATION FOR THE LAUNCH OF NEW CHAPTERS IN GUATEMALA, MORGANTOWN, WV AND FLORIDA. - OUR EXISTING CHAPTERS IN GEORGIA, TENNESSEE, NORTH CAROLINA, CANADA, CALIFORNIA AND COSTA RICA CONTINUE TO GROW AND THRIVE. - ALMOST DAILY, WE HEAR STORIES OF MEN'S LIVES (AND THEIR FAMILIES AND COMMUNITIES) BEING CHANGED THROUGH SOULY BUSINESS BY THE TRANSFORMATIONAL LOVE OF OUR HEAVENLY FATHER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Latty Executive Di | Trustee | 18 | $65,000 |
Larry Green Cloud Walk Director | Officer | 3 | $5,000 |
John Posey Director | Officer | 3 | $0 |
Sonny Newton Board Chairm | Officer | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $131,482 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $131,482 |
| Total Program Service Revenue | $37,614 |
| Investment income | $13 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $169,109 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $70,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $23,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,938 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,898 |
| Office expenses | $3,999 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,860 |
| Travel | $117 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,125 |
| All other expenses | $1,201 |
| Total functional expenses | $132,840 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $190,853 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $190,853 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $190,853 |
| Total liabilities and net assets/fund balances | $190,853 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Souly Business Inc has recieved totaling $17,200.
| Awarding Organization | Amount |
|---|---|
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $17,200 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lowcountry Food Bank Inc Charleston, SC | $24,232,316 | $78,517,842 |
Self-Help Services Corp Durham, NC | $8,574,851 | $67,460,504 |
Adopt-A-Family Of The Palm Beaches Inc Lake Worth, FL | $18,453,103 | $14,622,438 |
Fairhope Single Tax Corporation Fairhope, AL | $9,781,910 | $8,332,566 |
Harbor House Of Central Florida Inc Orlando, FL | $9,826,201 | $6,024,747 |
Reinvestment Partners Durham, NC | $12,338,640 | $8,350,193 |
Star C Corporation Marietta, GA | $534,124 | $5,554,127 |
Sandhills Community Action Program Inc Southern Pines, NC | $2,226,446 | $4,141,015 |
Urban Ministries Of Durham Inc Durham, NC | $4,630,944 | $4,348,989 |
Monat Gratitude Inc Miami, FL | $349,378 | $3,568,571 |
Nashville Entrepreneur Center Nashville, TN | $5,510,497 | $3,220,772 |
United Association Of Journeymen & Apprentices Of The Plumbing & Pipe Augusta, GA | $19,176,183 | $4,332,479 |