Formidable Joy

Analysis

Formidable Joy is a registered charity in United States, based in Studio City, CA. It received its IRS tax-exemption ruling in August 2017, 9 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Formidable Joy reported income of $285k and spending of $246k, spending 86% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $253k to $285k (+13%), an average of +4.0% a year. The sharpest change came in the year to December 2023, when income rose by 35%. Over the whole period it spent 89% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Formidable Joy sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 63rd percentile within CA. Charities of a similar size with the same main cause include The Jewish Federation of Central California ($285k), Madison Public Library Inc ($285k) and H Douglas Weaver Perpetual Charitable Trust ($284k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $192k against liabilities of $0, net assets of $192k.