Copay Inc

Analysis

Copay Inc is a registered charity in United States, based in Great Neck, NY. It received its IRS tax-exemption ruling in November 1974, 52 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 2022, Copay Inc reported income of $924k and spending of $906k, spending 98% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $902k to $924k (+2.5%), an average of +0.8% a year. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Copay Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 74th percentile within NY. Charities of a similar size with the same main cause include Black Economic Development Coalition Inc ($923k), Tristate Minority Supplier Development Council Inc ($924k) and Hope Builders Career Connection ($923k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 96% and program service revenue 3.8% of the total. Compensation of current officers, directors and key employees was $175k (19% of expenses). Other salaries and wages came to $337k. At year end it held assets of $819k against liabilities of $658k, net assets of $161k. It reported 17 employees.