Tower Cancer Research Foundation

Analysis

Tower Cancer Research Foundation is a registered charity in United States, based in Beverly Hills, CA. It received its IRS tax-exemption ruling in March 1997, 29 years ago. Its declared purposes cover medical research, which this site groups under health and saving lives. 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, Tower Cancer Research Foundation reported income of $2.5m and spending of $3.2m, spending 125% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.7m to $2.5m (-32%), an average of -9.2% a year. The sharpest change came in the year to December 2020, when income dropped by 29%. Over the whole period it spent 103% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Tower Cancer Research 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 88th percentile, and in the 88th percentile within CA. Charities of a similar size with the same main cause include Olympic Peninsula Community Clinic ($2.5m), Center Helping Obesity in Children End Successfully Inc ($2.5m) and Madison County Hospital Inc ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 112% of the total. Compensation of current officers, directors and key employees was $248k (7.8% of expenses). Other salaries and wages came to $669k. At year end it held assets of $3.9m against liabilities of $2.5m, net assets of $1.4m. It reported 15 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.