Torch Program Inc

Nonprofit profile at a glance

EIN
134083242
IRS 990 coverage
2010–2012
Forms available
Form 990 2012
Location
New York, NY, USA
Phone
2129299573
Rating confidence
Limited
Sector
Student Services, Organizations of Students

Official website

Reported finances

Revenue
$282,927
Expenses
$227,572
Assets
$31,814
Liabilities
$9,384

Source: IRS Form 990. Selected filing: tax year 2012. Amounts in USD.

Leadership & pay

14 people listed

Source: IRS Form 990. Selected filing: tax year 2012. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Transforming the lives of underserved nyc public high school students by providing intensive exposure to career training and opportunities in communications and the arts. While facilitating a meaningful way of increasing the diversity of the workforce in those industries.

What it reported doing in 2012

After-school program - participants must meet weekly to work on projects that give them hands-on experience in industries of focus, which include animation, interactive journalism, music and multimedia. Additionally, torch plans college visits and workshops throughout the year focusing on topics such as resume writing and interviewing skills. In the summer, torch places students in paying internships to allow them to further explore career opportunities. Ultimate goals for torch include participants graduation from high school and college with a direction and formulated goals.

Operating model

Revenue model
Donor-supported. 69% of the money available for current operations came from contributions and gifts.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 92
  • Accountability: 63
  • Sustainability: 44
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 60th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 19.6%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 0.14; rating input score 9; 9th percentile among comparable filings
  • Liabilities to assets ratio: 0.29; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 39.5%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 12.9% per year; rating input score 100; 75th percentile among comparable filings
  • Asset growth: -16.7% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 12 of 12 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $206K in reported program spending
  • Leadership: top reported pay $90K · 14 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 3 filing years from 2010 to 2012
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.

Key Signals

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

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Governance controls: 7 of 8 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 9/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.