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Poverty Solutions Inc

  • Torrance, CA
  • Tax-exempt since July 2010
  • EIN: 27-1916296

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Community Improvement, Capacity Building / Business and Industry (NTEE)

Donations to this organization are tax deductible.

Summary charts: organization finances over time

Revenue
$3.83M (2023)

Expenses
$628k (2023)

Total Assets
$10.8M (2023)

Total Liabilities
$2.35M (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings and Audits by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Audits are required to be submitted by nonprofit organizations that spend $750,000 or more in federal grant money in a fiscal year. "Single audits" look at the entire organization's finances and compliance, while other audits are program specific. Nonprofit Explorer has PDFs of audits for some nonprofits for fiscal year 2015 and later. Audit data is from the Federal Audit Clearinghouse.

Fiscal Year Ending Dec.
2024

No Extracted Financial Data

Form 990 documents are not available for this tax period, but audit documents are available for download.

Document Links

Audit

Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

PDF

Fiscal Year Ending Dec.
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$3,825,665
Expenses
$627,834
Net Income
$3,197,831
Net Assets
$8,494,514
Notable Sources of Revenue Percent of Total Revenue
Contributions $3,524,165
92.1%
Program Services $301,500
7.9%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $126,835
20.2%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $10,846,692
Total Liabilities $2,352,178
Net Assets $8,494,514
Compensation
Key Employees and Officers Compensation Related Other
Frank I Igwealor (President And Ceo) $0 $0 $0
Martin Nwaege (Director) $0 $0 $0
Ambrose O Egbuonu (Chairman) $0 $0 $0

Document Links

990
Filed on June 11, 2024

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML
Audit

Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

PDF

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,456,095
Expenses
$510,520
Net Income
$945,575
Net Assets
$5,073,180
Notable Sources of Revenue Percent of Total Revenue
Contributions $6,050
0.4%
Program Services $1,450,045
99.6%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $175,388
34.4%
Professional Fundraising Fees $0
Other Salaries and Wages $122,163
23.9%
Assets/Debt
Total Assets $5,234,004
Total Liabilities $160,824
Net Assets $5,073,180
Compensation
Key Employees and Officers Compensation Related Other
Frank I Igwealor (President And Ceo) $141,000 $0 $9,000
Ambrose O Egbuonu (Chairman) $34,387 $0 $0
Martin Nwaege (Director) $0 $0 $0

Document Links

990
Filed on May 25, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML
Audit

Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

PDF

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$4,792,625
Expenses
$296,959
Net Income
$4,495,666
Net Assets
$5,399,008
Notable Sources of Revenue Percent of Total Revenue
Contributions $2,416,265
50.4%
Program Services $2,376,360
49.6%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $205,357
69.2%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $7,314,975
Total Liabilities $1,915,967
Net Assets $5,399,008
Compensation
Key Employees and Officers Compensation Related Other
Frank I Igwealor (President And Ceo) $54,285 $0 $0

Document Links

990
Filed on March 18, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML
Audit

Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

PDF

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$231,611
Expenses
$187,985
Net Income
$43,626
Net Assets
$2,739,283
Notable Sources of Revenue Percent of Total Revenue
Contributions $169,639
73.2%
Program Services $61,972
26.8%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $137,390
73.1%
Assets/Debt
Total Assets $3,612,416
Total Liabilities $873,133
Net Assets $2,739,283
Compensation
Key Employees and Officers Compensation Related Other
Ambrose O Egbuonu (Governing Board Chair) $0 $0 $0
Martins Nwaege (Finance Treasurer) $0 $0 $0
Frank I Igwealor (President And Ceo) $0 $0 $0

Document Links

990
Filed on Feb. 9, 2022

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$2,592,697
Expenses
$622,767
Net Income
$1,969,930
Net Assets
$2,710,657
Notable Sources of Revenue Percent of Total Revenue
Contributions $2,592,697
100%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $77,811
12.5%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $2,804,865
Total Liabilities $94,208
Net Assets $2,710,657
Compensation
Key Employees and Officers Compensation Related Other
Ambrose O Egbuonu (Governing Board Chair) $0 $0 $0
Martins Nwaege (Finance Treasurer) $0 $0 $0
Frank I Igwealor (President And Ceo) $0 $0 $0

Document Links

990
Filed on July 7, 2020

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML
Audit

Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

PDF

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$32,753
Expenses
$749,497
Net Income
-$716,744
Net Assets
$722,654
Notable Sources of Revenue Percent of Total Revenue
Contributions $32,750
100.0%
Program Services $0
Investment Income $3
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $30,073
4.0%
Professional Fundraising Fees $0
Other Salaries and Wages $336,585
44.9%
Assets/Debt
Total Assets $1,218,166
Total Liabilities $495,512
Net Assets $722,654
Compensation
Key Employees and Officers Compensation Related Other
Frank I Igwealor (President And Ceo) $2,062 $0 $0
Ambrose O Egbuonu (Governing Board Chair) $0 $0 $0
Martins Nwaege (Finance Treasurer) $0 $0 $0

Document Links

990
Filed on Nov. 15, 2019

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML
Audit

Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

PDF

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$670,697
Expenses
$1,101,073
Net Income
-$430,376
Net Assets
$1,110,245
Notable Sources of Revenue Percent of Total Revenue
Contributions $661,764
98.7%
Program Services $8,933
1.3%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $86,268
7.8%
Assets/Debt
Total Assets $1,567,882
Total Liabilities $457,637
Net Assets $1,110,245

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF
Audit

Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

PDF

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$5,666,317
Expenses
$3,372,157
Net Income
$2,294,160
Net Assets
$5,703,226
Notable Sources of Revenue Percent of Total Revenue
Contributions $2,445,682
43.2%
Program Services $3,220,635
56.8%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $291,201
8.6%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $7,561,977
Total Liabilities $1,858,751
Net Assets $5,703,226
Compensation
Key Employees and Officers Compensation Related Other
Frank I Igwealor (President And Ceo) $97,350 $0 $0
Martins Nwaege (Treasurer) $0 $0 $0
Ambrose O Egbuonu (Chairman Of The Board) $0 $0 $0
Kareem Davis (Director) $0 $0 $0
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Document Links

990
Filed on Nov. 16, 2017

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML
Audit

Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

PDF

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$4,934,215
Expenses
$3,586,663
Net Income
$1,347,552
Net Assets
$3,409,037
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,763,215
35.7%
Program Services $3,171,000
64.3%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $6,634,588
Total Liabilities $3,225,551
Net Assets $3,409,037

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$4,181,689
Expenses
$3,348,234
Net Income
$833,455
Net Assets
$2,061,485
Notable Sources of Revenue Percent of Total Revenue
Contributions $885,744
21.2%
Program Services $3,295,945
78.8%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $284,360
8.5%
Assets/Debt
Total Assets $4,814,323
Total Liabilities $2,752,838
Net Assets $2,061,485

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$4,060,591
Expenses
$2,991,314
Net Income
$1,069,277
Net Assets
$1,228,030
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,407,680
34.7%
Program Services $2,506,173
61.7%
Investment Income $146,738
3.6%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $112,800
3.8%
Assets/Debt
Total Assets $6,641,065
Total Liabilities $5,413,035
Net Assets $1,228,030

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$4,953,821
Expenses
$1,718,039
Net Income
$3,235,782
Net Assets
$3,620,532
Notable Sources of Revenue Percent of Total Revenue
Contributions $2,970,129
60.0%
Program Services $1,921,228
38.8%
Investment Income $62,464
1.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $25,071
1.5%
Assets/Debt
Total Assets $4,673,435
Total Liabilities $1,052,903
Net Assets $3,620,532

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,426,048
Expenses
$1,992,069
Net Income
-$566,021
Net Assets
$369,781
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,369,627
96.0%
Program Services $56,421
4.0%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $4,312
0.2%
Assets/Debt
Total Assets $883,662
Total Liabilities $513,881
Net Assets $369,781

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF
PDF (2 of 2)

Fiscal Year Ending Dec.
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

990-EZ

Short form tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2009

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

990-EZ

Short form tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2008

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

990-EZ

Short form tax return for a nonprofit’s activities, finances, and governance

PDF
PDF (2 of 2)

About This Data

What Is This Data?

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

  • Raw filing data. Includes EINs and summary financials as structured data.
  • Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
  • Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
  • Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

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About Nonprofit Explorer

Nonprofit Explorer

Browse millions of annual returns filed by tax-exempt organizations with ProPublica’s Nonprofit Explorer. See details like executive compensation, revenue, expenses and more. Search for an organization or a person, or search the full text of filings.

By Andrea Suozzo, Alec Glassford, Ash Ngu and Brandon Roberts.

Design by Jeff Frankl. Additional development by Ken Schwencke, Mike Tigas, and Sisi Wei.

E-file viewer adapted from IRS e-File Viewer by Ben Getson. Code for scraping audit documents adapated from Govwiki.

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