Torch of Wisdom Foundation Inc

Nonprofit profile at a glance

EIN
383118653
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-EZ 2017
Location
Southfield, MI, USA
Phone
2485055534
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$162,662
Expenses
$213,877
Assets
$415,128
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

19 people listed

Executive titles in this filing

  • BEVERLY ALLEN (CHAIRPERSON PRESIDENT)
  • WHITNEY LEWIS (VICE PRESIDENT)

People named in this filing

  • BEVERLY ALLEN (CHAIRPERSON PRESIDENT)
  • FELICIA HUNTER (FACILITIES DIRECTOR)
  • ROSITA BROCKINGTON (RECORDING SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Charitable and educational

What it reported doing in 2024

Community enrichment

Operating model

Revenue model
Donor-supported. 72% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 76% for direct work, and 24% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 76
  • Accountability: 94
  • Sustainability: 39
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86%; rating input score 86
  • Program expense ratio: 65.4%; rating input score 65
  • Fundraising efficiency: $59.68 raised per $1 spent on fundraising; rating input score 79; 79th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 81.8%; rating input score 82; 1st percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 82%; rating input score 82; 49th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -31.5%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 1.94; rating input score 58; 58th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 15.4% per year; rating input score 100; 79th percentile among comparable filings
  • Revenue growth: 8.5% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: 2.5% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 86% of revenue deployed · 65.4% of spending went to programs
  • Governance: 18 of 18 board members independent · 6 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $140K in reported program spending
  • Leadership: top reported pay $0 · 19 people listed
  • Consistency: 19 of 21 current checks pass · 2 findings to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 5 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 9/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Total-asset coverage ratio scored 58/100.