Kovar Corporation

Analysis

Kovar Corporation is a registered charity in United States, based in Roanoke, VA. It received its IRS tax-exemption ruling in April 1983, 43 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 2024, Kovar Corporation reported income of $724k and spending of $801k, spending 111% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $456k to $724k (+59%), an average of +12% a year. The sharpest change came in the year to June 2022, when income rose by 16%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Kovar Corporation sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 76th percentile within VA. Charities of a similar size with the same main cause include Family Center on Deafness Inc ($724k), Senior Citizens Community Center Inc ($724k) and Community Food Advocates Inc ($724k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 86% and program service revenue 5.3% of the total. It paid $11k in professional fundraising fees. At year end it held assets of $2.7m against liabilities of $77k, net assets of $2.6m.