Torch Literary Arts

Analysis

Torch Literary Arts is a registered charity in United States, based in Round Rock, TX. It received its IRS tax-exemption ruling in January 2022, 4 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 (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 Literary Arts reported income of $248k and spending of $214k, spending 87% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $111k to $248k (+122%), an average of +122% a year. The sharpest change came in the year to December 2023, when income rose by 122%. Over the whole period it spent 66% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Torch Literary Arts sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 62nd percentile within TX. Charities of a similar size with the same main cause include Saratoga Childrens Theatre Inc ($248k), Colorado Afro Latin Dance and Arts Collective ($248k) and Hurry Back Productions Inc ($248k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $75k (35% of expenses). Other salaries and wages came to $7,579. At year end it held assets of $126k against liabilities of $0, net assets of $126k. It reported 3 employees.