Joy to the World Foundation

Analysis

Joy to the World Foundation is a registered charity in United States, based in Colorado Springs, CO. It received its IRS tax-exemption ruling in August 2003, 23 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Joy to the World Foundation reported income of $8.3m and spending of $8.3m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.6m to $8.3m (+82%), an average of +16% a year. The sharpest change came in the year to December 2023, when income rose by 71%. Over the whole period it spent 114% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Joy to the World Foundation sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within CO. Charities of a similar size with the same main cause include Central Pennsylvania Community Action Inc ($8.3m), Vista on 5th Corp ($8.3m) and Peoples Place II Inc ($8.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 3.5% of the total. Compensation of current officers, directors and key employees was $170k (2.1% of expenses). Other salaries and wages came to $58k. At year end it held assets of $24.8m against liabilities of $22.7m, net assets of $2.1m. It reported 2 employees.