Learning Independence for Tomorrow Incorporated

Analysis

Learning Independence for Tomorrow Incorporated is a registered charity in United States, based in Clearwater, FL. It received its IRS tax-exemption ruling in July 2014, 12 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Learning Independence for Tomorrow Incorporated reported income of $8.1m and spending of $4.2m, leaving 48% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.9m to $8.1m (+330%), an average of +44% a year. The sharpest change came in the year to June 2022, when income rose by 140%. Over the whole period it spent 62% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Learning Independence for Tomorrow Incorporated sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within FL. Charities of a similar size with the same main cause include Larkin University Corp ($8.1m), Cary Christian School Inc ($8.1m) and Aurora Academy Charter School ($8.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 9.9% of the total. Compensation of current officers, directors and key employees was $178k (4.2% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $14.1m against liabilities of $5.2m, net assets of $8.9m. It reported 41 employees.