Torchys Family Foundation

Analysis

Torchys Family Foundation is a registered charity in United States, based in Austin, TX. It received its IRS tax-exemption ruling in February 2019, 7 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Torchys Family Foundation reported income of $522k and spending of $121k, leaving 77% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $303k to $522k (+72%), an average of +31% a year. The sharpest change came in the year to December 2023, when income rose by 266%. Over the whole period it spent 38% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Torchys Family Foundation sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 75th percentile within TX. Charities of a similar size with the same main cause include Expensify Org ($522k), Sixdegrees Org ($522k) and Friends of Ufm Inc ($521k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 103% of the total. At year end it held assets of $660k against liabilities of $7,097, net assets of $652k.