Joy Thomas Foundation
- Assets
- $898.2k
- Revenue
- $91.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Los Altos Hills, CA
- Founding
- Data as of
- 12/2022
- EIN
- 85-4238139
Organization Overview
Joy Thomas Foundation is located in Los Altos Hills, CA. According to its NTEE Classification (J20) the organization is classified as: Employment Preparation & Procurement, under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Joy Thomas Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Joy Thomas Foundation generated $91.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (67.7%) each year. All expenses for the organization totaled $62.5k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S MISSION IS TO INSPIRE STUDENTS TO PURSUE CAREERS IN SCIENCE, TECHNOLOGY, ENGINEERING AND MATHEMATICS. THE ORGANIZATION ATTEMPTS TO DO SO BY PROVIDING MENTORING, TRAINING AND PARTIAL FINANCING TO DISADVANTAGED COLLEGE AND HIGH SCHOOL STUDENTS. ADDITIONALLY, THE ORGANIZATION INTENDS TO KEEP ALIVE THE LEGACY OF JOY THOMAS THROUGH AWARDS FOR RESEARCH CONDUCTED IN THE FIELD OF INFORMATION THEORY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ESTABLISHED AN ENDOWMENT AT THE IEEE FOR AWARDING AN ANNUAL PRIZE TO THE AUTHOR OF THE BEST RESEARCH PAPER IN INFORMATION THEORY.
FUNDED THE ESTABLISHMENT OF A SCIENCE LAB IN A HIGH SCHOOL IN INDIA. PAYMENT WAS MADE TO A US CHARITY WHO FUNDED SETTING UP THE LAB, PURCHASING SUPPLIES AND COMPENSATING AN INSTRUCTOR.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shyam Pillamarri President And Director | OfficerTrustee | 6 | $0 |
Priya Pattathil Director | Trustee | 2 | $0 |
Tony Thomas Director | Trustee | 1 | $0 |
Yatin Mody Treasurer | Officer | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $86,351 |
| Noncash contributions included in lines 1a–1f | $19,051 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $86,351 |
| Total Program Service Revenue | $0 |
| Investment income | $5,104 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $91,455 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $62,500 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $62,500 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $289,543 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $608,680 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $898,223 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $898,223 |
| Total liabilities and net assets/fund balances | $898,223 |
Grants Awarded
Over the last fiscal year, Joy Thomas Foundation has awarded $62,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
IEEE FOUNDATION INC PURPOSE: Endowment set up by the IEEE Information Theory Society for the Joy Thomas Tutorial Paper Award Fund. | $55,000 |
LEARN FOR LIFE FOUNDATION PURPOSE: Funding of a STEM lab for high school students at St Josephs Boys' School | $7,500 |