Torch Foundation
- Assets
- $1.2m
- Revenue
- $13.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Round Rock, TX
- Founding
- 01/2008
- Data as of
- 12/2021
- EIN
- 20-8911377
Organization Overview
Torch Foundation is located in Round Rock, TX. The organization was established in 2008. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Torch Foundation 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, Torch Foundation generated $13.1k 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 (37.3%) each year. All expenses for the organization totaled $440.6k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SECURED TELECOMMUNICATIONS SERVICES TO THE STATE'S RURAL AND COMMUNITY HOSPITALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDNG RURAL HEALTHCARE FACILITIES WITH THE TELECOMMUNICATIONS EQUIPMENT AND SERVICES NEEDED TO ADVANCE IN HEALTHCARE WITH TELEMEDICINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Quang Ngo President & CEO | OfficerTrustee | 1 | $0 |
Ted Matthews Chairman | OfficerTrustee | 1 | $0 |
Jeff Barnhardt Secretary | OfficerTrustee | 1 | $0 |
Brian Rolland Vice Chair | OfficerTrustee | 1 | $0 |
Jeff Lyle Director | Trustee | 1 | $0 |
Jeff Turner Torch Chair | Trustee | 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 | $206,722 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $206,722 |
| Total Program Service Revenue | $0 |
| Investment income | $42,804 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$236,411 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,115 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $23,330 |
| 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 | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,143 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,443 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $255 |
| Total functional expenses | $440,564 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $69,150 |
| Savings and temporary cash investments | $1,126,317 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,195,467 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $937,842 |
| Net assets with donor restrictions | $257,625 |
| 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 | $1,195,467 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Torch Foundation has recieved totaling $349,056.
| Awarding Organization | Amount |
|---|---|
Molina Healthcare Charitable Foundation Wilmington, DE PURPOSE: ADVANCING RURAL HEALTH; CLINICAL INTEGRATION, TELEHEALTH AND DATA ANALYTICS | $250,000 |
Meadows Foundation Incorporated Dallas, TX PURPOSE: TOWARD EXPANDING CAPACITY TO ASSIST RURAL HEALTH CLINICS IN THE STATE DURING COVID-19 | $50,000 |
Texas Mutual Insurance Company Austin, TX PURPOSE: Generational Learning | $49,056 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arnall Family Foundation Inc Oklahoma City, OK | $11,371,239 | $12,792,638 |
Houston Endowment Inc Houston, TX | $2,683,938,862 | $265,655,014 |
J E And L E Mabee Foundation Inc Midland, TX | $754,241,961 | $130,151,698 |
Rainwater Charitable Foundation Fort Worth, TX | $856,887,520 | $46,265,349 |
The Samuel Roberts Noble Foundation Ardmore, OK | $1,183,090,626 | $85,581,097 |
Kinder Foundation Houston, TX | $141,449,180 | $60,608,944 |
Rees-Jones Foundation Dallas, TX | $0 | $116,553,438 |
Meadows Foundation Incorporated Dallas, TX | $777,502,701 | $134,484,682 |
Rob And Melani Walton Foundation Bentonviille, AR | $541,056,642 | $120,568,910 |
Amon G Carter Foundation Fort Worth, TX | $464,730,205 | $54,557,293 |
Wend Ii Inc Bentonville, AR | $174,655,774 | $207,303,582 |
Anne And Henry Zarrow Foundation Tulsa, OK | $347,173,230 | $36,385,260 |