Foundation for Tomorrow

Analysis

Foundation for Tomorrow is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in February 2007, 19 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Foundation for Tomorrow reported income of $1.3m and spending of $1.3m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.0m to $1.3m (+23%), an average of +5.3% a year. The sharpest change came in the year to December 2021, when income rose by 34%. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Foundation for Tomorrow sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within NC. Charities of a similar size with the same main cause include Upward Bound School Inc ($1.3m), Compass School Inc ($1.3m) and National Association of State Treasurers Foundation Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $92k (7.2% of expenses). Other salaries and wages came to $70k. At year end it held assets of $159k against liabilities of $150k, net assets of $8,776. It reported 4 employees.