Tools for Tomorrow Inc

Analysis

Tools for Tomorrow Inc is a registered charity in United States, based in Palm Desert, CA. It received its IRS tax-exemption ruling in June 2000, 26 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 2024, Tools for Tomorrow Inc reported income of $576k and spending of $473k, spending 82% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $392k to $576k (+47%), an average of +10% a year. The sharpest change came in the year to June 2021, when income dropped by 36%. Over the whole period it spent 74% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Tools for Tomorrow Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 74th percentile within CA. Charities of a similar size with the same main cause include Fairmount Community Library Association ($575k), Friends of St Stephens ($576k) and Healthbarn Foundation Inc ($575k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 64% and program service revenue 34% of the total. Other salaries and wages came to $292k. At year end it held assets of $729k against liabilities of $20k, net assets of $709k. It reported 22 employees.