Timothy J Tuomey Trust

Analysis

Timothy J Tuomey Trust is a registered charity in United States, based in Sumter, SC. It received its IRS tax-exemption ruling in September 1971, 55 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Timothy J Tuomey Trust reported income of $219k and spending of $296k, spending 135% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $299k to $219k (-27%), an average of -7.5% a year. The sharpest change came in the year to September 2023, when income dropped by 31%. Over the whole period it spent 114% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Timothy J Tuomey Trust sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 61st percentile within SC. Charities of a similar size with the same main cause include Oklahoma Library Association ($219k), Habitat for Humanity International Inc ($219k) and West End Fire Co No 2 ($219k).

Compensation of current officers, directors and key employees was $3,000 (1.0% of expenses). At year end it held assets of $8.6m against liabilities of $0, net assets of $8.6m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.