Civic Intelligence

The Torch Foundation Ltd

990 • Fiscal year 2022 • EIN 13-3638911

Nov 01, 2021 to Oct 31, 2022 • Filed on Sep 12, 2023

Organization ProfileTORCHFOUNDATION.COM
5 Raven DriveCommack, NY 11725

(631) 543-8888

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

74th percentile

0.06x

Higher debt load relative to assets than 74% of similar nonprofits.

2022 filings • NTEE P • <$500k nonprofits • Source year 2022

Liabilities / Revenue

86th percentile

0.26x

Higher debt load relative to revenue than 86% of similar nonprofits.

2022 filings • NTEE P • <$500k nonprofits • Source year 2022

Net Margin

35th percentile

-0.7%

Higher net margin than 35% of similar nonprofits.

2022 filings • NTEE P • <$500k nonprofits • Source year 2022

Top Officer Pay

79th percentile

$0

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • NTEE P • <$500k nonprofits • Source year 2022

Asset Growth

51st percentile

1.4%

Faster asset growth than 51% of similar nonprofits.

2022 filings • NTEE P • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

35th percentile

-8.8%

Faster revenue growth than 35% of similar nonprofits.

2022 filings • NTEE P • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets74th percentile

Assets

Up

$486,014

Up $6,652 (+1.4%) from 2021

Net Assets

Down

$456,014

Down $848 (-0.2%) from 2021

Liabilities

Up

$30,000

Up $7,500 (+33%) from 2021

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin35th percentile

Revenue

Down

$115,667

Down $11,212 (-8.8%) from 2021

Expenses

Down

$116,515

Down $14,079 (-11%) from 2021

Net Income

Up

-$848

Up $2,867 (+77%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth51st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600K$400K$200K$0Assets 2011: $320,776Liabilities 2011: $0Net Assets 2011: $320,7762011Assets 2012: $288,198Liabilities 2012: $0Net Assets 2012: $288,1982012Assets 2013: $273,887Liabilities 2013: $0Net Assets 2013: $273,8872013Assets 2014: $322,031Liabilities 2014: $0Net Assets 2014: $322,0312014Assets 2015: $322,454Liabilities 2015: $0Net Assets 2015: $322,4542015Assets 2016: $309,139Liabilities 2016: $0Net Assets 2016: $309,1392016Assets 2017: $321,359Liabilities 2017: $0Net Assets 2017: $321,3592017Assets 2018: $372,554Liabilities 2018: $0Net Assets 2018: $372,5542018Assets 2020: $475,577Liabilities 2020: $15,000Net Assets 2020: $460,5772020Assets 2021: $479,362Liabilities 2021: $22,500Net Assets 2021: $456,8622021Assets 2022: $486,014Liabilities 2022: $30,000Net Assets 2022: $456,0142022Assets 2023: $393,465Liabilities 2023: $10,000Net Assets 2023: $383,4652023Assets 2024: $318,520Liabilities 2024: $10,000Net Assets 2024: $308,5202024

Highlighted filing

2022

Assets$486,014
Liabilities$30,000
Net Assets$456,014
Open 2022 Filing

Operations Trend

Revenue Growth35th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$200K$0-$200KRevenue 2011: $280,881Expenses 2011: $258,568Net Income 2011: $22,3132011Revenue 2012: $61,030Expenses 2012: $93,608Net Income 2012: -$32,5782012Revenue 2013: $138,147Expenses 2013: $152,458Net Income 2013: -$14,3112013Revenue 2014: $175,104Expenses 2014: $126,960Net Income 2014: $48,1442014Revenue 2015: $150,483Expenses 2015: $150,060Net Income 2015: $4232015Revenue 2016: $157,869Expenses 2016: $171,184Net Income 2016: -$13,3152016Revenue 2017: $180,951Expenses 2017: $168,731Net Income 2017: $12,2202017Revenue 2018: $190,979Expenses 2018: $139,784Net Income 2018: $51,1952018Revenue 2020: $327,595Expenses 2020: $171,307Net Income 2020: $156,2882020Revenue 2021: $126,879Expenses 2021: $130,594Net Income 2021: -$3,7152021Revenue 2022: $115,667Expenses 2022: $116,515Net Income 2022: -$8482022Revenue 2023: $69,520Expenses 2023: $142,069Net Income 2023: -$72,5492023Revenue 2024: $79,429Expenses 2024: $154,374Net Income 2024: -$74,9452024

Highlighted filing

2022

Revenue$115,667
Expenses$116,515
Net Income-$848
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Nov 1, 2021 to Oct 31, 2022
Signed
Sep 12, 2023
Return Version
2021v4.2
Gross Receipts
$375,571
Mission and Program Overview

Mission

The torch foundation ltd is a non- for- profit organization within the real estate, design and construction community established to give something back to our industry and the children of our society.

The torch foundation ltd is a nonprofit organization within the real estate, design and construction community established to give something back to our industry and the children of our society.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$253,716$260,323▲ $6,607
Savings and Temporary Cash Investments$225,646$225,691▲ $45
Total Assets$479,362$486,014▲ $6,652
Liabilities
Accounts Payable and Accrued Expenses$22,500$30,000▲ $7,500
Total Liabilities$22,500$30,000▲ $7,500
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$456,862$456,014▼ $848
Total Net Assets Fund Balance$456,862$456,014▼ $848
Total Liabilities and Net Assets / Fund Balance$479,362$486,014▲ $6,652
Compensation and Service Providers
Top Officer Pay79th percentile

Board Members and Trustees

NameTitle
Joseph RutiglianoPresident
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$45
Other Revenue
$115,622
Change in Net Assets
$-848
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$58,415
Grants and Similar Amounts Paid$58,100
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$46,100--$46,100
Fees for Services Other-$31,950-$31,950
Grants to Domestic Individuals$12,000--$12,000
Fees for Services Accounting-$9,400-$9,400
Office Expenses-$5,688-$5,688
Advertising-$3,223-$3,223
Information Technology-$804-$804
Travel-$319-$319
Other Expenses-$125-$125
All Other Expenses-$60-$60
Total Functional Expenses$58,100$58,415$0$116,515
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Heartsong IncWhite Plains, NY-Provide Therapeutic Art Program to Enhance the Functioning Level and Quality of Life of Children With Special Needs.$10,000
National Jewish Health IncDenver, CO-Support Children With Lung, Heart, Immune and Related Conditions.$10,000
Hearts and Homes for RefugeesPelham, NY-Provide Services to Victims of Adversities and Survivors of Disasters to Help Rebuild and Transition.$8,000
Bronx LacrossePurchase, NY-Sports Based Youth Development Program That Empowers Youth on the Field and in the Classroom.$7,500
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$375,526
Fundraising Direct Expenses$259,904
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Events$375,526$375,526$259,904$115,622
Total Events$375,526$375,526$259,904$115,622
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“No review will be conducted.”

Form 990, Part VI, Section B, Line 12C

“The organization has a conflict of interest policy and monitors and reviews the policy annually.”

Form 990, Part VI, Section C, Line 19

“Governing documents, conflict of interest policy and financial statements can be obtained by mail request.”

Filing and Contact Details

Filer

Filer Name
The Torch Foundation Ltd
EIN
13-3638911
Phone
6315438888
Address
5 RAVEN DRIVE, COMMACK, NY 11725

Signing Officer

Name
Joseph Rutigliano
Title
President
Phone
6315438888
Signed
2023-09-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph Rutigliano
Formed
1991
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
10

Preparer

Firm
Gettry Marcus CPA Pc
Address
1407 BROADWAY 40TH FLOOR, NEW YORK, NY 10018
Preparer
Alan M Willinger CPA
Phone
2123026000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Outside clerical: program service expenses 0. Management and general expenses 31,950. Fundraising expenses 0. Total expenses 31,950.”

Raw XML Appendix374 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1PAY MEDICAL BILLS FOR 4 YEAR OLD WITH STAGE 4 CANCER
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0PROVIDE THERAPEUTIC ART PROGRAM TO ENHANCE THE FUNCTIONING LEVEL AND QUALITY OF LIFE OF CHILDREN WITH SPECIAL NEEDS.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1SUPPORT CHILDREN WITH LUNG, HEART, IMMUNE AND RELATED CONDITIONS.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2SPORTS BASED YOUTH DEVELOPMENT PROGRAM THAT EMPOWERS YOUTH ON THE FIELD AND IN THE CLASSROOM.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3PROVIDE SERVICES TO VICTIMS OF ADVERSITIES AND SURVIVORS OF DISASTERS TO HELP REBUILD AND TRANSITION.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0HEARTSONG INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1NATIONAL JEWISH HEALTH INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2BRONX LACROSSE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3HEARTS AND HOMES FOR REFUGEES
IRS990ScheduleI/RecipientTable/RecipientEIN0133665796
IRS990ScheduleI/RecipientTable/RecipientEIN1742044647
IRS990ScheduleI/RecipientTable/RecipientEIN2821991261
IRS990ScheduleI/RecipientTable/RecipientEIN3131632524
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0277 MARTINE AVENUE SUITE 230
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt11400 JACKSON STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt21 MANHATTANVILLE ROAD
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3PO BOX 8558
IRS990ScheduleI/RecipientTable/USAddress/CityNm0WHITE PLAINS
IRS990ScheduleI/RecipientTable/USAddress/CityNm1DENVER
IRS990ScheduleI/RecipientTable/USAddress/CityNm2PURCHASE
IRS990ScheduleI/RecipientTable/USAddress/CityNm3PELHAM
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1CO
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3NY
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd010601
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd180206
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd210577
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd310803
IRS990ScheduleI/Total501c3OrgCnt04
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO REVIEW WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY AND MONITORS AND REVIEWS THE POLICY ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS CAN BE OBTAINED BY MAIL REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OUTSIDE CLERICAL: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 31,950. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 31,950.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0479362
IRS990/TotalAssetsEOYAmt0486014
IRS990/TotalAssetsGrp/BOYAmt0479362
IRS990/TotalAssetsGrp/EOYAmt0486014
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt058415
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt058100
IRS990/TotalFunctionalExpensesGrp/TotalAmt0116515
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt022500
IRS990/TotalLiabilitiesEOYAmt030000
IRS990/TotalLiabilitiesGrp/BOYAmt022500
IRS990/TotalLiabilitiesGrp/EOYAmt030000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0456862
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0456014
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt058100
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0115667
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0115667
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0479362
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0486014
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0319
IRS990/TravelGrp/TotalAmt0319
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05 RAVEN DRIVE
IRS990/USAddress/CityNm0COMMACK
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd011725
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0HTTPS://TORCHFOUNDATION.COM/
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JOSEPH RUTIGLIANO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06315438888
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-09-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE TORCH FOUNDATION LTD
ReturnHeader/Filer/BusinessNameControlTxt0TORC
ReturnHeader/Filer/EIN0133638911
ReturnHeader/Filer/PhoneNum06315438888
ReturnHeader/Filer/USAddress/AddressLine1Txt05 RAVEN DRIVE
ReturnHeader/Filer/USAddress/CityNm0COMMACK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd011725
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0133418879
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GETTRY MARCUS CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01407 BROADWAY 40TH FLOOR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010018
ReturnHeader/PreparerPersonGrp/PhoneNum02123026000
ReturnHeader/PreparerPersonGrp/PreparationDt02023-09-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ALAN M WILLINGER CPA
ReturnHeader/ReturnTs02023-09-14T17:53:41-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JOSEPH
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0RUTIGLIANO
ReturnHeader/TaxPeriodBeginDt02021-11-01
ReturnHeader/TaxPeriodEndDt02022-10-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2022 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$486,014
Liabilities
$30,000
Net assets
$456,014
Revenue
$115,667
Expenses
$116,515
Net income
-$848
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.19$0.10$3.09$0.79$1.54$0.75
2023Detailed filing. Detailed filing data is available for this year.$3.93$0.10$3.83$0.70$1.42$0.73
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.86$0.30$4.56$1.16$1.17$0.01
2021Detailed filing. Detailed filing data is available for this year.$4.79$0.23$4.57$1.27$1.31$0.04
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.76$0.15$4.61$3.28$1.71$1.56
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.73$0.00$3.73$1.91$1.40$0.51
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.21$0.00$3.21$1.81$1.69$0.12
2016Detailed filing. Detailed filing data is available for this year.$3.09$0.00$3.09$1.58$1.71$0.13
2015Detailed filing. Detailed filing data is available for this year.$3.22$0.00$3.22$1.50$1.50$0.00
2014Detailed filing. Detailed filing data is available for this year.$3.22$0.00$3.22$1.75$1.27$0.48
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.74$0.00$2.74$1.38$1.52$0.14
2012Summary only. Only limited summary data is available for this year.$2.88$0.00$2.88$0.61$0.94$0.33
2011Summary only. Only limited summary data is available for this year.$3.21$0.00$3.21$2.81$2.59$0.22