Torch Foundation

Analysis

Torch Foundation is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in May 2014, 12 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, Torch Foundation reported income of $162k and spending of $486k, spending 299% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income fell from $2.7m to $162k (-94%), an average of -61% a year. The sharpest change came in the year to December 2022, when income dropped by 91%. Over the whole period it spent 27% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Torch Foundation sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 51st percentile within CA. Charities of a similar size with the same main cause include MCF Supporting Organization Fund ($162k), Wallick Ford and Dora Trust Fbo the YMCA of Miami County and Mancheste ($163k) and Association for Philosophical Studies of New York Inc ($162k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 72% of the total. Compensation of current officers, directors and key employees was $151k (31% of expenses). Other salaries and wages came to $91k. It paid $20 in professional fundraising fees. At year end it held assets of $4.9m against liabilities of $12k, net assets of $4.9m. It reported 4 employees.