Foundation for an Independent Tomorrow

Analysis

Foundation for an Independent Tomorrow is a registered charity in United States, based in Las Vegas, NV. It received its IRS tax-exemption ruling in January 1999, 27 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 June 2023, Foundation for an Independent Tomorrow reported income of $4.6m and spending of $4.4m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.2m to $4.6m (+110%), an average of +20% a year. The sharpest change came in the year to June 2020, when income rose by 27%. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Foundation for an Independent Tomorrow sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within NV. Charities of a similar size with the same main cause include Milwaukee Urban Strategic Investment Corp ($4.6m), Mid-America Regional Council Community Services Corporation ($4.6m) and Hospitality Industry Training and Education Fund ($4.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 85% and program service revenue 10% of the total. Other salaries and wages came to $2.0m. At year end it held assets of $7.1m against liabilities of $493k, net assets of $6.6m. It reported 51 employees.