Cofar Inc

Analysis

Cofar Inc is a registered charity in United States, based in Leominster, MA. It received its IRS tax-exemption ruling in October 1989, 37 years ago. 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, Cofar Inc reported income of $51k and spending of $127k, spending 246% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $26k to $51k (+96%), an average of +18% a year. The sharpest change came in the year to December 2020, when income rose by 1093%. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cofar Inc sits at the 19th percentile: it is larger than about 19% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 29th percentile within MA. Charities of a similar size with the same main cause include PTA North Carolina Congress ($51k), PTA California Congress of Parents Teachers & Students Inc ($51k) and Petersham Craft Center ($51k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 8.0% of the total. Other salaries and wages came to $77k. At year end it held assets of $1.7m against liabilities of $0, net assets of $1.7m. It reported 1 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.