Philip & Cathy Solomons Foundation Inc
Only null% goes to programs Strong reserves Declining revenue
Philip & Cathy Solomons Foundation Inc is a 501(c)(3) organization based in Savannah, Georgia, registered in 2022, with $22,158 in FY2024 revenue. CharityIndex grades it F.
400 Mall Boulevard, Savannah, GA, 31406 EIN 87-1346593 Since 2022
Revenue (FY2024)
$22K
▼ 96.5% vs prior year
Philanthropy median: $168K
Expenses (FY2024)
$92K
Net assets
$1.9M
Employees
—
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
F
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Philip & Cathy Solomons Foundation Inc— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
FFinancial health25% of the rating252 mo reserves · -315% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Philip & Cathy Solomons Foundation Inc: 252 mo reserves · -315% margin earns a F on this criterion. See the exact thresholds →
—Governance25% of the ratingNot reported in this filing type
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. Not scored for Philip & Cathy Solomons Foundation Inc— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
DTransparency10% of the rating1 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Philip & Cathy Solomons Foundation Inc: 1 of 5 disclosure signals earns a D on this criterion. See the exact thresholds →
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Contact & location
- Address
- 400 Mall Boulevard, Savannah, GA, 31406
- City
- Savannah
- State
- Georgia
- Subcategory
- Private Foundations
Financial trends
Revenue declined from $142K (FY2021) to $22K (FY2024) across 4 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $0Net assets $1.9M
Operating margin
-314.7%
Spent more than it raised in the latest fiscal year.
Total assets
$1.9M
Total liabilities
$0
Net assets
$1.9M
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $22,158▼96.5% | $91,895▲1069% | $1,928,772▲26.7% | $1,928,772▲26.7% | 990PF |
| 2023 | $629,900▼15.6% | $7,859▼84.3% | $1,522,302▲101% | $1,522,302▲101% | 990PF |
| 2022 | $746,042▲424% | $50,000 | $755,637▲440% | $755,637▲440% | 990PF |
| 2021 | $142,387 | $0 | $139,807 | $139,807 | 990PF |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
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Frequently asked questions
- Is Philip & Cathy Solomons Foundation Inc a legitimate nonprofit?
- Yes. Philip & Cathy Solomons Foundation Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 87-1346593, based in Savannah, Georgia. Donations are tax-deductible.
- What is Philip & Cathy Solomons Foundation Inc's EIN?
- Philip & Cathy Solomons Foundation Inc's Employer Identification Number (EIN) is 87-1346593.
- How much revenue does Philip & Cathy Solomons Foundation Inc report?
- Philip & Cathy Solomons Foundation Inc reported $22,158 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Philip & Cathy Solomons Foundation Inc have?
- CharityIndex grades Philip & Cathy Solomons Foundation Inc F, based on financial health (reserves and operating margin).
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Data for Philip & Cathy Solomons Foundation Inc (EIN 87-1346593) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.