Tomorrows Hope Foundation II Inc

Analysis

Tomorrows Hope Foundation II Inc is a registered charity in United States, based in Uniondale, NY. It received its IRS tax-exemption ruling in June 2020, 6 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, Tomorrows Hope Foundation II Inc reported income of $3.7m and spending of $3.8m, spending 102% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $2.3m to $3.7m (+58%), an average of +16% a year. The sharpest change came in the year to December 2021, when income rose by 84%. Over the whole period it spent 93% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Tomorrows Hope Foundation II Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 88th percentile within NY. Charities of a similar size with the same main cause include The Mono Lake Foundation ($3.7m), Community Foundation of Madison and Jefferson County Inc ($3.7m) and Hays Medical Center Foundation ($3.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 103% of the total. Compensation of current officers, directors and key employees was $202k (5.3% of expenses). Other salaries and wages came to $358k. At year end it held assets of $3.3m against liabilities of $1.6m, net assets of $1.7m. It reported 6 employees.