The Tomorrow Fund

Analysis

The Tomorrow Fund is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in March 1994, 32 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, The Tomorrow Fund reported income of $1.6m and spending of $1.2m, leaving 24% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.3m to $1.6m (+29%), an average of +6.6% a year. The sharpest change came in the year to September 2023, when income rose by 24%. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Tomorrow Fund sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 80th percentile within RI. Charities of a similar size with the same main cause include Site Advancement Foundation ($1.6m), Little League Baseball Inc ($1.6m) and Jefferson College Foundation Incorporated ($1.6m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $159k (13% of expenses). Other salaries and wages came to $163k. At year end it held assets of $4.9m against liabilities of $448k, net assets of $4.4m. It reported 5 employees.