Tougaloo College

Analysis

Tougaloo College is a registered charity in United States, based in Tougaloo, MS. It received its IRS tax-exemption ruling in September 1943, 83 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, Tougaloo College reported income of $30.2m and spending of $34.2m, spending 113% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $29.7m to $30.2m (+1.7%), an average of +0.4% a year. The sharpest change came in the year to June 2021, when income rose by 45%. Over the whole period it spent 84% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Tougaloo College sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within MS. Charities of a similar size with the same main cause include The American Friends of Winchester College ($30.2m), Webb School of Knoxville ($30.3m) and Larchmont Schools ($30.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 59% and program service revenue 36% of the total. Compensation of current officers, directors and key employees was $1.2m (3.5% of expenses). At year end it held assets of $119.3m against liabilities of $7.2m, net assets of $112.1m. It reported 967 employees.