Tower Foundation of Manhasset Inc

Analysis

Tower Foundation of Manhasset Inc is a registered charity in United States, based in Manhasset, NY. It received its IRS tax-exemption ruling in October 1991, 35 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 December 2023, Tower Foundation of Manhasset Inc reported income of $114k and spending of $155k, spending 136% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $140k to $114k (-19%), an average of -5.0% a year. The sharpest change came in the year to December 2022, when income rose by 287%. Over the whole period it spent 77% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Tower Foundation of Manhasset Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 39th percentile within NY. Charities of a similar size with the same main cause include River Upstate ($114k), Youre Just My Type Inc ($114k) and Race Track Chaplaincy of California ($114k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 17% of the total. At year end it held assets of $645k against liabilities of $0, net assets of $645k.