Tory Burch Foundation INC FY2024 filing

Tax-deductible

New York, NY501(c)(3)Human ServicesEIN 26-3660127Revenue $6.4M in FY2024

On file with the IRStoryburchfoundation.org11 West 19th Street 7th FL, 10011-0061 · New York, NYTax-exempt since Jul 2009Publicly supported charity — 170(b)(1)(A)(vi)

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To empower women and entrepreneurs by providing access to capital, education and digital resources.

501(c)(3) charity; gifts are tax-deductible.
64¢ of each $1 spent went to programs.
$31K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $1.7M a year · 32% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
64%
of spending
Worth a look: 64% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$31K
to officers and key staff · 0.6% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
33 mo
of spending, in cash
Looks good: 32.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
7
named funders · $148K
Looks good: 7 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$527K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6.4M
+81% vs prior year
Spent
$5.3M
To programs
64%
Net assets
$19.2M
By yearFY2020–FY2024
Revenue
$6.4M
FY2024▲ +81%
Tap a bar for its year
Revenue by fiscal year
FY2020$5.4M
FY2021$5.3M
FY2022$6.3M
FY2023$3.5M
FY2024$6.4M
FY2024$2.0M
Expenses
$5.3M
FY2024▲ +87%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.3M
FY2021$1.8M
FY2022$6.3M
FY2023$2.8M
FY2024$5.3M
FY2024$1.6M
Net assets
$19.2M
FY2024▲ +12%
Tap a bar for its year
Net assets by fiscal year
FY2020$12.7M
FY2021$16.2M
FY2022$16.0M
FY2023$17.2M
FY2024$19.2M
FY2024$19.4M

From the FY2024 Form 990 (year ending September 2024) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 2009.

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

Where the money goes

64 cents of each dollar spent went to programs.

Program services 64% · $3.4M Management & general 32% · $1.7M Fundraising 4% · $199K

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

18 people listed on the 990; $31K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
President Thru Jan 2024
$31,000Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director Thru Feb 2024
$0Pt VII · Sec A
$0Pt VII · Sec A

Laurie Fabiano’s $31K as President Thru Jan 2024 is at the 2nd percentile of top reported officer pay among 3869 $1–10M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2022FY2021FY2020
Laurie Fabiano$31,000$24,500$92,950$40,481

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Tory Burch Foundation INC 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Empowers women and entrepreneurs with capital, education, and digital resources.

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Provided by the organization

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3 programs · $2.4M · in their own filed words · FY2023
01

Fellowships

Fellows programthe tory burch foundation fellows program is a national program for early-stage women entrepreneurs. Women entrepreneurs from across the united states submit applications online. 50 women entrepreneurs are selected annually.

$1.6Mprogram expense
02

Capital

Kiva loan programthe tory burch foundation loan program powered by kiva provides women entrepreneurs in the united states the opportunity to access no interest business loans through a crowdfunding platform. The loans are made to women entrepreneurs operating early-stage ventures in all industries.

$410Kprogram expense
03

Education Programs

Small business webinarsthe tory burch foundation business webinars, powered by bank of america, offer small business owners credible, quality information for free to help them navigate the changing landscape. The bi-monthly webinar series to provide the most relevant and current information for business owners.

$362Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
See all 7 funders →
Grants paid · 24 grants · $5.4M · 2019–2024
Womens Sports FoundationNY · FY2024$125,000
Unitemized GrantFY2023$505,000
Kiva MicrofundsCA · FY2023$55,000
Fearless FoundationGA · FY2022$1,150,000
Unitemized GrantFY2022$216,873
Dolores C Huerta FoundationCA · FY2022$10,000
Fearless FoundationGA · FY2021$2,200,000
Nest INCNY · FY2021$245,000
Unitemized GrantFY2021$49,250
The 19th NewsTX · FY2021$15,000
Kiva MicrofundsCA · FY2021$15,000
Unitemized GrantFY2020$250,000
Unitemized GrantFY2020$100,000
Kiva MicrofundsCA · FY2020$20,000
The 19th NewsTX · FY2020$15,000
Unitemized GrantFY2019$257,709
See all 24 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$6.4M
Ln 12
Gifts and grantsLn 1h$5.7M
Investment incomeLn 3$674K
Money outPt IX
$5.3M
Ln 25
Programscol B$3.4M
Managementcol C$1.7M
Fundraisingcol D$199K
Owns and owesPt X
$19.2M
net assets · Ln 32
Cash and savingsLn 1–2$14.3M
Total assetsLn 16$19.8M
LiabilitiesLn 26$527K
PeoplePt VI, VII
18
listed · VII A
PaidVII A1
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.7M
Noncash giftsLn 1g$40K
Investment incomeLn 3$674K
Gains on assetsLn 7$33K
Total revenueLn 12$6.4M
Assets in detailPt X, end of year
CashLn 1$387K
SavingsLn 2$13.9M
Cash and savings togetherLn 1–2$14.3M
InvestmentsLn 11–13$4.7M
Other assetsLn 15$212K
Total assetsLn 16$19.8M
LiabilitiesLn 26$527K
Net assetsLn 32$19.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 6100
Fiscal year endsHeaderSeptember
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
LineStart FY24End FY24
Cash and savingsLn 1–2$11.9M$14.3M
InvestmentsLn 11–13$3.0M$4.7M
Total assetsLn 16$17.4M$19.8M
LiabilitiesLn 26$215K$527K
Net assetsLn 32$17.2M$19.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$55K$55K
Grants to domestic individualsLn 2$505K$505K
Management feesLn 11a$240K$240K
Legal feesLn 11b$11K$11K
Accounting feesLn 11c$85K$85K
Investment management feesLn 11f$17K$17K
Other fees for servicesLn 11g$361K$353K$8K
Advertising and promotionLn 12$409K$384K$26K
Office expensesLn 13$19K$2K$18K
Information technologyLn 14$140K$100K$40K
TravelLn 17$143K$113K$30K
Depreciation, depletion and amortizationLn 22$236K$236K
InsuranceLn 23$21K$21K
Other expenses (24a–d)Ln 24$3.0M$1.9M$957K$199K
Total functional expensesLn 25$5.3M$3.4M$1.7M$199K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $6.4M$5.3M$1.1M$19.2M 990 PDF
FY2023 $3.5M$2.8M$725K$17.2M 990 PDF
FY2022 $6.3M$6.3M$57K$16.0M 990 PDF
FY2021 $5.3M$1.8M$3.5M$16.2M 990 PDF
FY2020 $5.4M$2.3M$3.1M$12.7M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $6,382,088 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,998,588$5,707,809
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $532,001$674,279
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $3,530,589$6,382,088
I-13 Grants and similar amounts paidPrior year $1,576,873$560,000
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 $1,228,511$4,690,871
I-18 Total expensesPrior year $2,805,384$5,250,871
I-19 Revenue less expensesPrior year $725,205$1,131,217
Part VI · Governance 14 of 14 board members independent, 2 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $6,382,088 across 6 lines filed
VIII-1f All other contributions, gifts and grants$5,707,809
VIII-1g Noncash contributions (included above)$40,303
VIII-1h Total contributions, gifts and grants$5,707,809
VIII-3 Investment incomeExcluded from tax $641,099$641,099
VIII-7 Net gain or loss on sales of assetsExcluded from tax $33,180$33,180
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $674,279$6,382,088
Part IX · Statement of functional expenses $5,250,871 across 14 lines filed
IX-1 Grants to domestic organizationsPrograms $55,000$55,000
IX-2 Grants to domestic individualsPrograms $505,000$505,000
IX-11a Management feesManagement $240,000$240,000
IX-11b Legal feesManagement $10,506$10,506
IX-11c Accounting feesManagement $84,580$84,580
IX-11f Investment management feesManagement $16,979$16,979
IX-11g Other fees for servicesPrograms $352,922 · Management $7,739$360,661
IX-12 Advertising and promotionPrograms $383,627 · Management $25,712$409,339
IX-13 Office expensesPrograms $1,602 · Management $17,555$19,157
IX-14 Information technologyPrograms $100,006 · Management $40,045$140,051
IX-17 TravelPrograms $112,859 · Management $30,074$142,933
IX-22 Depreciation, depletion and amortizationManagement $236,443$236,443
IX-23 InsuranceManagement $20,534$20,534
IX-24 Other expenses (24a–d)Programs $1,852,905 · Management $957,304 · Fundraising $199,479$3,009,688
IX-25 Total functional expensesPrograms $3,363,921 · Management $1,687,471 · Fundraising $199,479$5,250,871
Part X · Balance sheet $19,770,961 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $142,831$386,864
X-2 Savings and temporary cash investmentsStart of year $11,774,396$13,873,659
X-3 Pledges and grants receivableStart of year $1,802,585$571,984
X-9 Prepaid expenses and deferred chargesStart of year $59,091$55,868
X-11 Publicly traded securitiesStart of year $2,531,806$4,280,836
X-12 Other securitiesStart of year $435,244$389,319
X-15 Other assetsStart of year $624,854$212,431
X-16 Total assetsStart of year $17,370,807$19,770,961
X-17 Accounts payable and accrued expensesStart of year $23,192$85,352
X-18 Grants payableStart of year $137,804$386,864
X-19 Deferred revenueStart of year $54,400$54,400
X-26 Total liabilitiesStart of year $215,396$526,616
X-27 Net assets without donor restrictionsStart of year $17,155,411$19,244,345
X-32 Total net assets or fund balancesStart of year $17,155,411$19,244,345
X-33 Total liabilities and net assetsStart of year $17,370,807$19,770,961
Part XI · Reconciliation of net assets $19,244,345 net assets at year end
XI-1 Total revenue$6,382,088
XI-2 Total expenses$5,250,871
XI-3 Revenue less expenses$1,131,217
XI-4 Net assets at start of year$17,155,411
XI-5 Net unrealized gains (losses) on investments$937,682
XI-9 Other changes in net assets$20,035
XI-10 Net assets at end of year$19,244,345

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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