Plough Towers Fund Inc

Analysis

Plough Towers Fund Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in November 1987, 39 years ago. 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, Plough Towers Fund Inc reported income of $273k and spending of $147k, leaving 46% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income grew from $110k to $273k (+148%), an average of +20% a year. The sharpest change came in the year to June 2023, when income rose by 840%. Over the whole period it spent 30% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Plough Towers Fund Inc sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 61st percentile within TN. Charities of a similar size with the same main cause include Ouray County Historical Society Inc ($273k), The Fork Volunteer Fire Department Inc ($273k) and Kappa Scholarship Endowment Fund ($273k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 35% and program service revenue 3.9% of the total. Other salaries and wages came to $89k. At year end it held assets of $2.5m against liabilities of $2,079, net assets of $2.5m. It reported 6 employees.