Torch of Freedom Foundation

Analysis

Torch of Freedom Foundation is a registered charity in United States, based in Dripping SPGS, TX. It received its IRS tax-exemption ruling in April 2002, 24 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Torch of Freedom Foundation reported income of $4.7m and spending of $4.1m, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $791k to $4.7m (+491%), an average of +56% a year. The sharpest change came in the year to December 2021, when income rose by 108%. Over the whole period it spent 85% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Torch of Freedom Foundation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 94th percentile within TX. Charities of a similar size with the same main cause include East Academy Inc ($4.7m), Excelencia in Education Inc ($4.7m) and Depaul School for Hearing and Speech ($4.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% and program service revenue 31% of the total. Compensation of current officers, directors and key employees was $203k (5.0% of expenses). Other salaries and wages came to $747k. It paid $37k in professional fundraising fees. At year end it held assets of $5.9m against liabilities of $3.8m, net assets of $2.1m. It reported 17 employees.