Tomorrows Hope Foundation Inc
- Assets
- $891.2k
- Revenue
- $91.1k
- Investments
- $810.0k
- Employees
- 0
- Location
- Rockville Centre, NY
- Founding
- 08/2006
- Data as of
- 12/2021
- EIN
- 20-3514578
Organization Overview
Tomorrows Hope Foundation Inc is located in Rockville Centre, NY. The organization was established in 2006. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tomorrows Hope Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Tomorrows Hope Foundation Inc generated $91.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (37.0%) each year. All expenses for the organization totaled $85.9k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (36.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Tomorrows Hope Foundation Inc has awarded 310 individual grants totaling $11,664,507. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENSURE THE EXCELLENCE AS WELL AS THE CONTINUANCE OF CATHOLIC SCHOOLS ON LONG ISLAND BY INCREASING AWARENESS AND BY PROVIDING SCHOLARSHIPS AND PROGRAM FUNDING FOR THE NEEDS OF STUDENTS AND SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ENSURE EXCELLENCE AND CONTINUANCE OF CATHOLIC ELEMENTARY EDUCATION ON LONG ISLAND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lewis Ranieri Chairman | OfficerTrustee | 1 | $0 |
Frank D Liantonio Vice Chair | OfficerTrustee | 1 | $0 |
Richard J Conniff Vice Chair To 4/21, Then Treasurer | OfficerTrustee | 1 | $0 |
Christopher Tully Vice Chair | OfficerTrustee | 1 | $0 |
Maureen T Scaduto Secretary To April 2021 | OfficerTrustee | 1 | $0 |
Joseph Young Treasurer To April 2021 | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,090 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,090 |
| Total Program Service Revenue | $0 |
| Investment income | $5,784 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $75,183 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $91,057 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $747 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,767 |
| Fees for services: Accounting | $36,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,801 |
| Fees for services: Other | $18,731 |
| Advertising and promotion | $0 |
| Office expenses | $4,209 |
| Information technology | $10,636 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,550 |
| Insurance | $2,587 |
| All other expenses | $836 |
| Total functional expenses | $85,864 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $58,020 |
| Savings and temporary cash investments | $14,100 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,308 |
| Net Land, buildings, and equipment | $7,753 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $810,046 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $891,227 |
| Accounts payable and accrued expenses | $33,427 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,941 |
| Total liabilities | $36,368 |
| Net assets without donor restrictions | $156,090 |
| Net assets with donor restrictions | $698,769 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $891,227 |
Grants Awarded
Over the last fiscal year, Tomorrows Hope Foundation Inc has awarded $1,793,138 in support to 35 organizations.
| Grant Recipient | Amount |
|---|---|
ST MARTIN DE PORRES MARIANIST SCHOOL PURPOSE: TUITION ASSISTANCE | $302,775 |
ST PATRICK SCHOOL PURPOSE: TUITION ASSISTANCE | $178,450 |
ST DOMINIC SCHOOL PURPOSE: TUITION ASSISTANCE | $102,750 |
ST MARY SCHOOL PURPOSE: TUITION ASSISTANCE | $78,850 |
ST PATRICK SCHOOL PURPOSE: TUITION ASSISTANCE | $66,100 |
OUR LADY OF PROVIDENCE REGIONAL SCHOOL PURPOSE: TUITION ASSISTANCE | $63,750 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Tomorrows Hope Foundation Inc has recieved totaling $93,500.
| Awarding Organization | Amount |
|---|---|
The Childrens Scholarship Fund New York, NY PURPOSE: To provide partial scholarship awards to children from low-income families | $37,500 |
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: EDUCATIONAL PROGRAMS & OTHER STUDENT SVC | $23,500 |
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: SCHOLARSHIPS & FINANCIAL AID | $12,500 |
Kronthal Family Foundation Inc Green Village, NJ PURPOSE: GENERAL SUPPORT | $10,000 |
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: COMMUNITY OUTREACH & ENRICHMENT PROGRAMS | $10,000 |
Endowment Analysis
| Beg. Balance | $636,815 |
| Earnings | $61,954 |
| Ending Balance | $698,769 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University At Albany Foundation Albany, NY | $129,210,800 | $17,198,773 |
Trustees Of The Public Library Of The City Of Boston Boston, MA | $99,754,907 | $16,249,859 |
Lord Foundation Of Massachusetts Inc Cambridge, MA | $0 | $665,000 |
Queens College Foundation Inc Flushing, NY | $103,882,868 | $13,972,395 |
Threefold Educational Foundation & School Chestnut Ridge, NY | $15,163,557 | $9,817,859 |
New Jersey Institute Of Technology Foundation Newark, NJ | $177,817,526 | $21,630,945 |
Global Community Charter School New York, NY | $4,753,919 | $12,397,044 |
Doctors Center Management Corporation Oceanport, NJ | $41,567 | $8,892,194 |
English-Bonter-Mitchell Foundation Pittsburgh, PA | $150,419,755 | $42,613,149 |
Mit International Inc Cambridge, MA | $42,886,000 | $6,428,000 |
Friends Of Team Academy Charter School A New Jersey Non-Profit Org Newark, NJ | $241,241,974 | $11,734,420 |
Montclair State University Foundation Inc Montclair, NJ | $109,561,235 | $13,284,004 |