Formosa Taiwan Inc

Analysis

Formosa Taiwan Inc is a registered charity in United States, based in Las Vegas, NV. It received its IRS tax-exemption ruling in March 2022, 4 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Formosa Taiwan Inc reported income of $2.1m and spending of $24k, leaving 99% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $841k to $2.1m (+152%), an average of +152% a year. The sharpest change came in the year to December 2023, when income rose by 152%. Over the whole period it spent 2.1% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Formosa Taiwan Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 88th percentile within NV. Charities of a similar size with the same main cause include Growing Gardens ($2.1m), Global Neighborhood ($2.1m) and Donnie Edwards Best Defense Foundation ($2.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% of the total. At year end it held assets of $3.1m against liabilities of $0, net assets of $3.1m.