Towercares Foundation INC EIN 47-4164006

Towercares Foundation INC

EIN  47-4164006 Public foundation / grantmaker Laurel, MD
Form 990 (PDF) Compare with another nonprofit →
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Size
$100K–1M
What they do
Helps children, heroic individuals, and their families facing hardship.
Leadership
Richard Stafford · President
Money in and out
$786K revenue, $1.2M expenses
Bottom line
100% program efficiency

Helps children, heroic individuals, and their families facing hardship. For fiscal year 2025 it reported $786K in revenue, $1.2M in expenses, and $657K in net assets.Pt I

Grants paid & assets · FY2025
Total revenue
$786K
Pt VIII · Ln 12
Total expenses
$1.2M
Pt IX · Ln 25
Net assets
$657K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$432K
Where spending went · Part IX cols B–D
Program services $1.00 Management & general $0.00
Program efficiency
100%
of spending reaches programs0% vs prior filing year
Operating runway
8.5mo
months of highly liquid reserves at operating expense rate▼ -50% vs prior filing year
Surplus margin
-55%
revenue over expenses, this year▼ -9037% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$786K
FY2025▲ +1%
Expenses
$1.2M
FY2025▲ +58%
Total assets
$866K
FY2025▼ -21%
Total liabilities
$209K
FY2025▲ ×19
Total revenue
$786K
Pt VIII · Ln 12
Total expenses
$1.2M
Pt IX · Ln 25
Net assets
$657K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$432K
Total assetsPt X · Ln 16$866K
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 48
Mission & Programs · Part III

Where the work happens

3 program services account for $1.2M of program spending, described in the organization's own filed words · FY2025.
01

Towercares Grants

Grants to support charities that meet our mission: children in need and brave and heroic individuals and their families who have sacrificed while protecting our freedom. Provided university system of maryland foundation a $300,000 grant for establishing the towercares foundation scholarship for the umbc cyber scholars program.

$999Kprogram expense
02

Towercares Scholarship Program

Provided forty $5,000 scholarships to students pursuing stem studies as their college major to support our mission to assist children in need. $8,155 admin fees.

$208Kprogram expense
03

Angel Program

Provided eighteen individuals with $500-$1,000 holiday financial assistance grants to enlisted service members and military families in need at fort meade.

$11Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CTowercares Foundation INC
EINHdr · item D47-4164006
Principal addressHdr · item CLaurel, MD
WebsiteHdr · item Jwww.towercaresfoundation.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMD
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T70)
Ruling yearIRS BMFSep 2015

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b8
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$779K · 99%
Investment income$6K · 1%
Contributions & grants99%$779K
Investment income1%$6K
Other revenue$895
Total revenueLn 12$786K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00 Management & general $0.00
Program services100%$1.2M
Management & general$245
Total functional expensesLn 25$1.2M

Balance Sheet

Part X · end of year
CashLn 1$862K
Total assetsLn 16$866K
Total liabilitiesLn 26$209K
Total net assetsLn 32$657K
Months of cash on handcomputed8.5

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $862K · Operating expenses/yr $1.2M
8.5 months
Where the money goes
Program services
Program services $1.2M · Total expenses $1.2M
100%
Management & General
Management & general $245 · Total expenses $1.2M
0%
Fundraising
Fundraising $0 · Total expenses $1.2M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $747K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $779K · Total revenue $786K
99%
Government reliance
Government grants — · Total revenue $786K
Earned-income share
Program service revenue $0 · Total revenue $786K
0%
Investment reliance
Investment income $6K · Total revenue $786K
+1%
Program self-sufficiency
Program service revenue $0 · Total expenses $1.2M
0%
Growth & trend
Revenue growth (YoY)
This year $786K · Prior year $777K
+1%
Revenue CAGR
FY2020 $342K · FY2025 $786K
+18%
Net-asset trend (YoY)
End of year $657K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $786K · Expenses $1.2M
-55%
Liabilities-to-Assets
Total liabilities — · Total assets $866K
Net-asset ratio
Net assets $657K · Total assets $866K
76%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $866K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Richard Stafford · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $1.2M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $1.2M
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 100%
Overhead ratio 0%
Fundraising cost ratio 0%
Revenue growth 1%
Accounting fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2023
Total grants receivedfrom 1 funder$52
Grants paid · 156 grants · $2.6M · 2020–2025
Unitemized GrantFY2025$200,000
The Johns Hopkins HospitalMD · FY2025$72,420
Maryland Food Bank INCMD · FY2025$27,500
Capital Area Food Bank INCDC · FY2025$20,000
Neighbor Ride INCMD · FY2025$18,500
Travis Manion FoundationPA · FY2025$15,000
Casey Cares Foundation INCMD · FY2025$15,000
Fort Meade Spouses ClubMD · FY2025$13,000
Fish of Laurel INCMD · FY2025$13,000
Unitemized GrantFY2025$11,000
See all 156 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$786K revenue · viewing · ⤓ 990 PDF
FY2024$777K revenue · ⤓ 990 PDF
FY2023$707K revenue · ⤓ 990 PDF
FY2022$906K revenue · ⤓ 990 PDF
FY2021$738K revenue · ⤓ 990 PDF
FY2020$342K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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