The Cove Center Inc

Analysis

The Cove Center Inc is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in March 1989, 37 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 June 2023, The Cove Center Inc reported income of $11.6m and spending of $10.6m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.9m to $11.6m (+30%), an average of +6.8% a year. The sharpest change came in the year to June 2023, when income rose by 21%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Cove Center Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within RI. Charities of a similar size with the same main cause include Communtiy Action Partnership of Cambria County Inc ($11.6m), Pride Group ($11.6m) and Lutheran Haven ($11.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.3% and program service revenue 100% of the total. Other salaries and wages came to $5.7m. At year end it held assets of $5.8m against liabilities of $2.0m, net assets of $3.8m. It reported 180 employees.