Torch Foundation: FY2022 Nonprofit Profile & Form 990 (EIN 13-3638911)

Revenue by fiscal year
FY2020	$328K
FY2021	$127K
FY2022	$116K
FY2023	$70K
FY2024	$79K

Expenses by fiscal year
FY2020	$171K
FY2021	$131K
FY2022	$117K
FY2023	$142K
FY2024	$154K

Net assets by fiscal year
FY2020	$461K
FY2021	$457K
FY2022	$456K
FY2023	$383K
FY2024	$309K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1993.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

50 cents of each dollar spent went to programs.

50%

Program services 50% · $58K Management & general 50% · $58K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

1 person listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII

Joseph Rutigliano

President

$0Pt VII · Sec A

See Torch Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports children and the real estate, design, and construction industries.

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Provided by the organization

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1 program · $58K · in their own filed words · FY2021

01

The organization holds events to raise money to provide grants to worthy children's charities and medical organizations that provide services for children in need. They also provide grants to individual families who have children that require special medical care.

$58Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking

Grants paid · 27 grants · $315K · 2019–2023

NYU Langone HospitalsNY · FY2023$20,000

Unitemized GrantFY2023$13,400

Bronx Lacrosse INCNY · FY2023$10,000

American Friends of Magen David AdomNY · FY2023$10,000

Greek Archdiocese Institute of St BasilNY · FY2023$10,000

Ronald McDonald House at the Maria Fareri Childrens Hospital INCNY · FY2023$10,000

Unitemized GrantFY2022$14,270

Sunrise Day Camps Association INCNY · FY2022$10,000

NY Presbyterian Hospital Columbia University Medical Center New YorkNY · FY2022$10,000

Medical Staff of Hackensack University Medical CenterNJ · FY2022$10,000

Christ the King Continuing Education INCNY · FY2022$8,000

Bronx Lacrosse INCNY · FY2022$7,500

Dana-Farber Cancer Institute INCMA · FY2022$5,133

National Jewish HealthCO · FY2021$10,000

Heartsong INCNY · FY2021$10,000

Unitemized GrantFY2021$8,000

Hearts and Homes for RefugeesIL · FY2021$8,000

Bronx Lacrosse INCNY · FY2021$7,500

See all 27 grants →

By the numbers

The FY2022 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$116K

Ln 12

Other incomeLn 4–11$116K

Investment incomeLn 3$45

Money outPt IX

$117K

Ln 25

Programscol B$58K

Managementcol C$58K

Owns and owesPt X

$456K

net assets · Ln 32

Cash and savingsLn 1–2$486K

Total assetsLn 16$486K

LiabilitiesLn 26$30K

PeoplePt VI, VII

1

listed · VII A

PaidVII A0

Voting boardVI 1a5

IndependentVI 1b5

2In more detail

Revenue in detailPt VIII

Investment incomeLn 3$45

Other incomeLn 4–11$116K

Total revenueLn 12$116K

Assets in detailPt X, end of year

CashLn 1$260K

SavingsLn 2$226K

Cash and savings togetherLn 1–2$486K

Total assetsLn 16$486K

LiabilitiesLn 26$30K

Net assetsLn 32$456K

OperationsPt I, VI

EmployeesI 50

VolunteersI 611

Fiscal year endsHeaderOctober

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY22	End FY22
Cash and savingsLn 1–2	$479K	$486K
Total assetsLn 16	$479K	$486K
LiabilitiesLn 26	$22K	$30K
Net assetsLn 32	$457K	$456K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$46K	$46K
Grants to domestic individualsLn 2	$12K	$12K
Accounting feesLn 11c	$9K		$9K
Other fees for servicesLn 11g	$32K		$32K
Advertising and promotionLn 12	$3K		$3K
Office expensesLn 13	$6K		$6K
Information technologyLn 14	$804		$804
TravelLn 17	$319		$319
Other expenses (24a–d)Ln 24	$7K		$7K
All other expensesLn 24e	$60		$60
Total functional expensesLn 25	$117K	$58K	$58K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest	$79K	$154K	−$75K	$309K	990 PDF
FY2023	$70K	$142K	−$73K	$383K	990 PDF
FY2022 Viewing	$116K	$117K	−$848	$456K	990 PDF
FY2021	$127K	$131K	−$4K	$457K	990 PDF
FY2020	$328K	$171K	$156K	$461K	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations

See the full FY2022 990 (6 parts)

Part I · Summary $115,667 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $51$45

I-11 Other revenuePrior year $126,828$115,622

I-12 Total revenuePrior year $126,879$115,667

I-13 Grants and similar amounts paidPrior year $85,525$58,100

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $45,069$58,415

I-18 Total expensesPrior year $130,594$116,515

I-19 Revenue less expensesPrior year −$3,715−$848

Part VI · Governance 5 of 5 board members independent, 1 to look at

VI-1a Voting members of the governing body5

VI-1b Independent voting members5

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $115,667 across 3 lines filed

VIII-3 Investment incomeExcluded from tax $45$45

VIII-8 Net income from fundraising eventsExcluded from tax $115,622$115,622

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $115,667$115,667

Part IX · Statement of functional expenses $116,515 across 10 lines filed

IX-1 Grants to domestic organizationsPrograms $46,100$46,100

IX-2 Grants to domestic individualsPrograms $12,000$12,000

IX-11c Accounting feesManagement $9,400$9,400

IX-11g Other fees for servicesManagement $31,950$31,950

IX-12 Advertising and promotionManagement $3,223$3,223

IX-13 Office expensesManagement $5,688$5,688

IX-14 Information technologyManagement $804$804

IX-17 TravelManagement $319$319

IX-24 Other expenses (24a–d)Management $6,971$6,971

IX-24e All other expensesManagement $60$60

IX-25 Total functional expensesPrograms $58,100 · Management $58,415 · Fundraising $0$116,515

Part X · Balance sheet $486,014 assets, 8 lines filed

X-1 Cash, non-interest-bearingStart of year $253,716$260,323

X-2 Savings and temporary cash investmentsStart of year $225,646$225,691

X-16 Total assetsStart of year $479,362$486,014

X-17 Accounts payable and accrued expensesStart of year $22,500$30,000

X-26 Total liabilitiesStart of year $22,500$30,000

X-27 Net assets without donor restrictionsStart of year $456,862$456,014

X-32 Total net assets or fund balancesStart of year $456,862$456,014

X-33 Total liabilities and net assetsStart of year $479,362$486,014

Part XI · Reconciliation of net assets $456,014 net assets at year end

XI-1 Total revenue$115,667

XI-2 Total expenses$116,515

XI-3 Revenue less expenses−$848

XI-4 Net assets at start of year$456,862

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$456,014

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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Torch Foundation FY2022 filing

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