Cooperative Fund of the Northeast Inc

Analysis

Cooperative Fund of the Northeast Inc is a registered charity in United States, based in Watertown, MA. It received its IRS tax-exemption ruling in September 1984, 42 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, Cooperative Fund of the Northeast Inc reported income of $4.1m and spending of $3.2m, leaving 21% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.5m to $4.1m (+66%), an average of +14% a year. The sharpest change came in the year to December 2022, when income rose by 63%. Over the whole period it spent 78% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Cooperative Fund of the Northeast Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within MA. Charities of a similar size with the same main cause include Greater Mankato Area United Way Inc ($4.1m), Friends of Aderes Hatorah Inc ($4.1m) and Policy & Innovation Center ($4.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 40% and program service revenue 55% of the total. Compensation of current officers, directors and key employees was $319k (9.9% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $50.4m against liabilities of $36.8m, net assets of $13.6m. It reported 15 employees.