Torrance Education Foundation

Analysis

Torrance Education Foundation is a registered charity in United States, based in Torrance, CA. It received its IRS tax-exemption ruling in November 1996, 30 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 June 2023, Torrance Education Foundation reported income of $849k and spending of $713k, spending 84% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.2m to $849k (-28%), an average of -8.0% a year. The sharpest change came in the year to June 2021, when income dropped by 17%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Torrance Education Foundation sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 78th percentile within CA. Charities of a similar size with the same main cause include Upper Midwest Security Alliance Foundation ($849k), US Friends of the Van Leer Jerusalem Institute ($849k) and Sigma Alpha Mu Foundation ($848k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 35% and program service revenue 26% of the total. Other salaries and wages came to $225k. At year end it held assets of $1.6m against liabilities of $337k, net assets of $1.3m. It reported 28 employees.