Torch of Wisdom Foundation

Analysis

Torch of Wisdom Foundation is a registered charity in United States, based in Southfield, MI. It received its IRS tax-exemption ruling in February 1994, 32 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 December 2023, Torch of Wisdom Foundation reported income of $261k and spending of $280k, spending 107% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income grew from $216k to $261k (+21%), an average of +6.5% a year. The sharpest change came in the year to December 2021, when income rose by 41%. Over the whole period it spent 76% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Torch of Wisdom Foundation sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 59th percentile within MI. Charities of a similar size with the same main cause include Friends of Guadalupe ($261k), National Council on Bible Curriculum in Public Schools ($261k) and Loxahatchee Club Educational Foundation Inc ($261k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% of the total. At year end it held assets of $484k against liabilities of $0, net assets of $484k.