Tomas Ventures Residence Ltd

Analysis

Tomas Ventures Residence Ltd is a registered charity in United States, based in Novi, MI. It received its IRS tax-exemption ruling in May 2008, 18 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Tomas Ventures Residence Ltd reported income of $344k and spending of $360k, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $252k to $344k (+36%), an average of +8.0% a year. The sharpest change came in the year to December 2020, when income rose by 18%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Tomas Ventures Residence Ltd sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 64th percentile within MI. Charities of a similar size with the same main cause include Mount Zion Day Care Center Inc ($344k), Only Kindness Inc ($344k) and Gifts From the Heart Food Bank ($343k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $58k. At year end it held assets of $7,613 against liabilities of $22k, net assets of -$15k. It reported 2 employees.