Tapfound Inc

Analysis

Tapfound Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in May 2002, 24 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, Tapfound Inc reported income of $5.3m and spending of $6.4m, spending 121% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.5m to $5.3m (+17%), an average of +4.1% a year. The sharpest change came in the year to December 2021, when income rose by 62%. Over the whole period it spent 95% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Tapfound Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 90th percentile within NY. Charities of a similar size with the same main cause include Pretty in Pink Foundation Inc ($5.3m), Astros Golf Foundation ($5.3m) and SK Foundation USA Inc ($5.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 7.9% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $819k (13% of expenses). Other salaries and wages came to $3.3m. At year end it held assets of $4.1m against liabilities of $3.0m, net assets of $1.1m. It reported 60 employees.