Torah Education of America Inc

Analysis

Torah Education of America Inc is a registered charity in United States, based in Lakewood, NJ. It received its IRS tax-exemption ruling in February 2015, 11 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 August 2023, Torah Education of America Inc reported income of $3.0m and spending of $2.2m, leaving 27% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income grew from $1.1m to $3.0m (+171%), an average of +28% a year. The sharpest change came in the year to August 2022, when income rose by 74%. Over the whole period it spent 70% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Torah Education of America Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within NJ. Charities of a similar size with the same main cause include Focus Learning Academy of Southeastern Columbus ($3.0m), Mastery Community Builders Inc ($3.0m) and Creekside Charter Management ($3.0m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 66% and program service revenue 28% of the total. Compensation of current officers, directors and key employees was $50k (2.3% of expenses). Other salaries and wages came to $408k. At year end it held assets of $16.8m against liabilities of $12.3m, net assets of $4.5m. It reported 18 employees.