Torchbearers
- Assets
- $231.2k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Akron, OH
- Founding
- 05/2005
- Data as of
- 12/2022
- EIN
- 20-1869314
Organization Overview
Torchbearers is located in Akron, OH. The organization was established in 2005. According to its NTEE Classification (O51) the organization is classified as: Youth Community Service Clubs, under the broad grouping of Youth Development and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Torchbearers 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 12/2022, Torchbearers generated $63.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.7%) each year. All expenses for the organization totaled $72.4k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.9%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
TORCHBEARERS SEEKS TO SERVE OUR MEMBERS AND THE AKRON COMMUNITY IN MANY WAYS. SPECIFICALLY, TORCHBEARERS PROVIDES LEADERSHIP DEVELOPMENT OPPORTUNITIES TO OUR MEMBERS, INCLUDING A LEADERSHIP DEVELOPMENT CURRICULLUM DESIGNED SPECIFICALLY FOR OUR FIRST YEAR MEMBERS, OPPORTUNITIES TO CONNECT WITH THE AKRON COMMUNITY VIA SPONSORED COMMUNITY SERVICE PROJECTS, A BOARD SHADOWING PROGRAM AND OTHER EVENTS DESIGNED TO GET OUR MEMBERS IN FRONT OF OTHER COMMUNITY LEADERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Meghan Meeker President | 20 | $0 | |
Thomas Dolezal Treasurer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $63,718 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $56 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $63,774 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $14,231 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $26,990 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $31,191 |
| Total expenses | $72,412 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $230,231 |
| Other assets | $0 |
| Total assets | $231,231 |
| Total liabilities | $1,025 |
| Net assets or fund balances | $230,206 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Torchbearers has recieved totaling $6,000.
| Awarding Organization | Amount |
|---|---|
Akron Community Foundation Akron, OH PURPOSE: FOR SPONSORSHIP OF THE 2022 ANNUAL ANNIVERSARY CELEBRATION AT THE TIER 4 "PARTNERS OF TORCHBEARERS" LEVEL WITHOUT BENEFIT | $6,000 |
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