T Thomas Fortune Foundation

Analysis

T Thomas Fortune Foundation is a registered charity in United States, based in Red Bank, NJ. It received its IRS tax-exemption ruling in June 2017, 9 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 December 2023, T Thomas Fortune Foundation reported income of $129k and spending of $127k, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $813k to $129k (-84%), an average of -37% a year. The sharpest change came in the year to December 2021, when income rose by 206%. Over the whole period it spent 30% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, T Thomas Fortune Foundation sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 51st percentile within NJ. Charities of a similar size with the same main cause include Bible Archeology Search and Exploration Foundation ($129k), Ayer Public Access Corporation ($129k) and Obsidian Collection Archives ($129k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 1.1% of the total. Other salaries and wages came to $39k. At year end it held assets of $914k against liabilities of $4,989, net assets of $909k. It reported 11 employees.