Junk for Joy Inc

Analysis

Junk for Joy Inc is a registered charity in United States, based in Plano, TX. It received its IRS tax-exemption ruling in February 2021, 5 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Junk for Joy Inc reported income of $1.2m and spending of $1.5m, spending 120% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $281k to $1.2m (+335%), an average of +109% a year. The sharpest change came in the year to December 2023, when income rose by 138%. Over the whole period it spent 150% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Junk for Joy Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 85th percentile within TX. Charities of a similar size with the same main cause include Expansion International ($1.2m), Apple Hill Center for Chamber Music Inc ($1.2m) and Geneva Historical Society ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 109% of the total. At year end it held assets of $345k against liabilities of $1.4m, net assets of -$1.0m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.