Covenant Soup Kitchen Inc

Analysis

Covenant Soup Kitchen Inc is a registered charity in United States, based in Willimantic, CT. It received its IRS tax-exemption ruling in June 2006, 20 years ago. Its declared purposes cover food, agriculture and nutrition, which this site groups under poverty relief. 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 June 2023, Covenant Soup Kitchen Inc reported income of $1.6m and spending of $1.3m, spending 81% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.1m to $1.6m (+47%), an average of +10% a year. The sharpest change came in the year to June 2020, when income rose by 42%. Over the whole period it spent 76% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Covenant Soup Kitchen Inc sits at the 81st percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 82nd percentile within CT. Charities of a similar size with the same main cause include Sunflower of Peace ($1.6m), Feeding Hawaii Together Org ($1.6m) and Upper Saco Valley Land Trust ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $89k (6.9% of expenses). Other salaries and wages came to $118k. At year end it held assets of $3.2m against liabilities of $28k, net assets of $3.1m. It reported 4 employees.