The Golden Tornado Scholastic Foundation Inc

Analysis

The Golden Tornado Scholastic Foundation Inc is a registered charity in United States, based in Butler, PA. It received its IRS tax-exemption ruling in May 1991, 35 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Golden Tornado Scholastic Foundation Inc reported income of $391k and spending of $344k, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $370k to $391k (+5.7%), an average of +1.4% a year. The sharpest change came in the year to December 2022, when income rose by 39%. Over the whole period it spent 78% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Golden Tornado Scholastic Foundation Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 64th percentile within PA. Charities of a similar size with the same main cause include Valley Youth Hockey Association Inc ($391k), Wyckoff House & Association Inc ($391k) and Catholics United for the Poor ($391k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $20k (5.8% of expenses). At year end it held assets of $3.4m against liabilities of $31k, net assets of $3.4m.