Civic Intelligence

The Torch Foundation

990 • Fiscal year 2022 • EIN 95-4816158

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 14, 2023

3435 Wilshire Blvd 14th FloorLos Angeles, CA 90010

(424) 258-0188

Siviq Scores

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

Liabilities / Assets

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

4th percentile

-98%

Higher net margin than 4% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

84th percentile

$151,000

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 58.8% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

29th percentile

-5.2%

Faster asset growth than 29% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

1st percentile

-91%

Faster revenue growth than 1% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Down

$4,949,901

Down $271,165 (-5.2%) from 2021

Net Assets

Down

$4,949,901

Down $270,565 (-5.2%) from 2021

Liabilities

Down

$0

Down $600 (-100%) from 2021

Revenue

Down

$257,013

Down $2,655,319 (-91%) from 2021

Expenses

Up

$508,498

Up $210,833 (+71%) from 2021

Net Income

Down

-$251,485

Down $2,866,152 (-110%) from 2021

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2012: $12,895Liabilities 2012: $02012Assets 2013: $11,780Liabilities 2013: $02013Assets 2014: $86,672Net Assets 2014: $86,6722014Assets 2015: $155,129Liabilities 2015: $1492015Assets 2016: $153,908Liabilities 2016: $02016Assets 2017: $245,235Net Assets 2017: $245,2352017Assets 2018: $327,692Net Assets 2018: $327,6922018Assets 2019: $275,296Net Assets 2019: $275,2962019Assets 2020: $2,774,555Liabilities 2020: $17,327Net Assets 2020: $2,757,2282020Assets 2021: $5,221,066Liabilities 2021: $600Net Assets 2021: $5,220,4662021Assets 2022: $4,949,901Liabilities 2022: $0Net Assets 2022: $4,949,9012022Assets 2023: $4,916,076Liabilities 2023: $12,400Net Assets 2023: $4,903,6762023

Highlighted filing

2022

Assets$4,949,901
Liabilities$0
Net Assets$4,949,901

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2012: $10,770Expenses 2012: $14,856Net Income 2012: -$4,0862012Revenue 2013: $2,081Expenses 2013: $3,196Net Income 2013: -$1,1152013Revenue 2014: $75,779Expenses 2014: $887Net Income 2014: $74,8922014Revenue 2015: $27,667Expenses 2015: $52,227Net Income 2015: -$24,5602015Revenue 2016: $22,511Expenses 2016: $123,583Net Income 2016: -$101,0722016Revenue 2017: $189,435Expenses 2017: $97,808Net Income 2017: $91,6272017Revenue 2018: $157,442Expenses 2018: $74,985Net Income 2018: $82,4572018Revenue 2019: $175,533Expenses 2019: $227,929Net Income 2019: -$52,3962019Revenue 2020: $2,723,342Expenses 2020: $239,967Net Income 2020: $2,483,3752020Revenue 2021: $2,912,332Expenses 2021: $297,665Net Income 2021: $2,614,6672021Revenue 2022: $257,013Expenses 2022: $508,498Net Income 2022: -$251,4852022Revenue 2023: $162,480Expenses 2023: $485,675Net Income 2023: -$323,1952023

Highlighted filing

2022

Revenue$257,013
Expenses$508,498
Net Income-$251,485
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 14, 2023
Return Version
2022v5.0
Gross Receipts
$257,013
Mission and Program Overview

Mission

Transformational training for under-privileged

Transformational training for under-privileged.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$4,268,310$4,205,604▼ $62,706
Land, Buildings, and Equipment, Net$525,403$507,069▼ $18,334
Savings and Temporary Cash Investments$337,531$155,530▼ $182,001
Cash and Non-Interest-Bearing Accounts$89,822$81,698▼ $8,124
Total Assets$5,221,066$4,949,901▼ $271,165
Liabilities
Accounts Payable and Accrued Expenses$600--
Other Liabilities$0--
Total Liabilities$600$0▼ $600
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,220,466$4,949,901▼ $270,565
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$5,220,466$4,949,901▼ $270,565
Total Liabilities and Net Assets / Fund Balance$5,221,066$4,949,901▼ $271,165

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$507,069$42,931$550,000
Other Land Buildings$0$0$0
Land$0-$0
Equipment$0$0$0
Leasehold Improvements$0$0$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Carlton WatsonPresident & CEOFT$151,000$151,000

Board Members and Trustees

NameTitle
Douglas CarlsonChair
Darryl WarrenBoard Member
Jane Wang GarzonaBoard Member
Michael ChiangBoard Member
Juliet WhiteSecretary
Niloufer PablaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$239,233
Program Service Revenue
$0
Investment Income
$828
Other Revenue
$16,952
All Other Contributions
$224,233
Change in Net Assets
$-251,485
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$338,300
Other Expenses$156,690
Professional Fundraising Fees$13,508
Total Fundraising Expense$13,508
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$83,788$78,136-$161,924
Current Officers, Directors, Trustees, and Key Employees$78,136$72,864-$151,000
Fees for Services Other$37,698$14,107-$51,805
Interest-$30,626-$30,626
Payroll Taxes$13,147$11,583-$24,730
Depreciation Depletion-$18,333-$18,333
Occupancy-$15,826-$15,826
Office Expenses$1,543$11,996-$13,539
Fees for Services Professional Fundraising--$13,508$13,508
Insurance-$12,295-$12,295
Fees for Services Accounting-$7,210-$7,210
Information Technology$2,663$1,743-$4,406
All Other Expenses-$2,650-$2,650
Other Employee Benefits-$646-$646
Total Functional Expenses$216,975$278,015$13,508$508,498
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$13,508
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
Backup withholding compliance
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

The 990 form is reviewed at the board of directors meeting.

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

The organization regularly and consistently monitors and enforce compliance with the policy through the review of disclosure forms.

Form 990, Part VI, Section C, Line 19

The form 990 is available to the public via guidestar.

Filing and Contact Details

Filer

Filer Name
Torch Foundation
EIN
95-4816158
Phone
4242580188
Address
3435 WILSHIRE BLVD 14TH FLOOR, LOS ANGELES, CA 90010

Signing Officer

Name
Carlton Watson
Title
President & CEO
Phone
4242580188
Signed
2023-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Chaing
Formed
2002
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
6
Employees
4
Volunteers
20

Preparer

Firm
Easy Office Dba Jitasa
Address
1120 S RACKHAM WAY SUITE 300, MERIDIAN, ID 83642
Preparer
Jeremy Cork
Phone
2082874777
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Payroll service fees, training fees, consultation fees, temporary help.

Raw XML AppendixShowing 400 of 478 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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IRS990/Desc0TORCH TEEN TRAINING PROGRAM - THE TORCH FOUNDATION OFFERS TRANSFORMATIONAL LEADERSHIP WORKSHOPS FOR TEENS, AGES 13-17. THE TWO-DAY WORKSHOPS ARE TAILORED TO THE UNIQUE INTERESTS AND NEEDS OF TEENS, AND THEY PROVIDE A SAFE, ENGAGING, AND INSPIRATIONAL ENVIRONMENT FOR PROFOUND SELF-DISCOVERY AND GROWTH. THROUGH CAREFULLY GUIDED EXERCISES AND ACTIVITIES, THE TEENS WILL 1) DISCOVER THEIR MAXIMUM POTENTIAL; 2) IDENTIFY THE LIMITING BELIEFS AND OTHER OBSTACLES THAT ARE STOPPING THEM FROM ACHIEVING THEIR POTENTIAL, AND 3) LEARN EFFECTIVE WAYS TO OVERCOME THOSE OBSTACLES. THE POWERFUL TOOLS AND SKILLS GAINED THROUGH THIS EXPERIENCE WILL ALLOW THE TEENS TO TRANSFORM THEIR LIVES AND CREATE UNLIMITED POSSIBILITIES FOR THEMSELVES, THEIR FAMILIES, AND THE WORLD.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT & CEO
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt0337531
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0155530
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearAmt010
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus1YearAmt060448
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt092283
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt0152741
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER RELATED REVENUE.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Schedule A, Part III, Line 12
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0239234
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt02822247
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt02705484
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0173583
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0154942
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt06095490
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0828
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt02163
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt01100
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt04091
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0828
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt02163
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt01100
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt04091
IRS990ScheduleA/InvestmentIncomeCYPct00.00067
IRS990ScheduleA/InvestmentIncomePYPct00.00055
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt01952
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt04075
IRS990ScheduleA/OtherIncome509Grp/TotalAmt06027
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.97333
IRS990ScheduleA/PublicSupportPY509Pct00.95629
IRS990ScheduleA/PublicSupportTotal509Amt05942749
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt010
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt060448
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt092283
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt0152741
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0239234
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt02822247
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt02705484
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0173583
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0154942
IRS990ScheduleA/Total509Grp/TotalAmt06095490
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0242014
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt02828485
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt02706584
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0173583
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0154942
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt06105608
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0507069
IRS990ScheduleD/BuildingsGrp/DepreciationAmt042931
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0550000
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt00
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0507069
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0151000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0CARLTON WATSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT & CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0151000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 FORM IS REVIEWED AT THE BOARD OF DIRECTORS MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCE COMPLIANCE WITH THE POLICY THROUGH THE REVIEW OF DISCLOSURE FORMS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS AVAILABLE TO THE PUBLIC VIA GUIDESTAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PAYROLL SERVICE FEES, TRAINING FEES, CONSULTATION FEES, TEMPORARY HELP.
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/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00

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