Torch Foundation

Analysis

Torch Foundation is a registered charity in United States, based in Round Rock, TX. It received its IRS tax-exemption ruling in January 2008, 18 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, Torch Foundation reported income of $5.2m and spending of $4.6m, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $364k to $5.2m (+1315%), an average of +94% a year. The sharpest change came in the year to December 2022, when income rose by 7695%. 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, Torch Foundation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 94th percentile within TX. Charities of a similar size with the same main cause include Hispanic AIDS Forum Inc ($5.2m), Cattaraugus Co Project Head Start Cattaragus and Wyoming Co PR ($5.2m) and Catholic Social Services of Washtenaw County ($5.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. At year end it held assets of $4.7m against liabilities of $2.6m, net assets of $2.2m.