IYT Financial Reports
Fiscal Year 24-25Financial Health Report
Financial Summary | Fiscal Year
Improve Your Tomorrow is a 501(c)(3) public charity (EIN: 46-2981774) headquartered in Sacramento, California. The following financial summary is derived from the organization’s IRS Form 990 for the tax year beginning July 1, 2023 and ending June 30, 2024. All figures have been prepared on an accrual basis and audited by Richardson & Company LLP.
What is Fundraising Efficiency?
Fundraising efficiency measures what share of an organization’s total spending goes toward raising money — including events, grant writing, and donor outreach — rather than delivering programs. The lower the number, the better. Charity watchdogs typically flag organizations that spend more than 15–20% on fundraising. At 3.7%, IYT is well below that threshold, meaning the vast majority of every dollar raised goes directly to serving young men of color.
Why would a nonprofit have a surplus?
A modest operating surplus is essential for organizational health. IYT’s net assets of $4.3 million represent approximately 3.7 months of operating expenses — below the six-month reserve recommended for nonprofits of this size. This surplus supports IYT’s continued expansion into new regions, ensures the organization can meet payroll obligations while awaiting government reimbursements, and builds the financial foundation needed to sustain long-term impact.
Financial highlights: 24’-25’
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$15M Total Revenue
+42% YEAR OVER YEAR
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82.7% Program Spend Ratio
INDUSTRY STANDARD GOAL: 75%
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$910,489 Net Surplus
+23% NET ASSET GROWTH
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$7.5M TOTAL ASSETS
+13.6% YEAR OVER YEAR
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3.7% FUNDRAISING EFFICIENCY
OF TOTAL EXPENSES
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335 EMPLOYEES
NUMBER OF W2 EMPLOYEES
IYT Financial Breakdown
IYT’s total revenue grew 42% year-over-year, from $10.6 million to $15 million. This growth was driven primarily by a 62% increase in contributions and grants ($10.2M vs. $6.3M the prior year), reflecting deepening public sector partnerships and expanded philanthropic support. Program service revenue, which includes fees from school site partnerships, also grew 12% to $4.8 million.
Download our full impact report to view more detail about our financials.
Audited Financials
Use the links here to download our annual 990 statements. If you have additional questions, please use the button below to get in touch with our team.