Crescent Cove

Analysis

Crescent Cove is a registered charity in United States, based in Brooklyn Ctr, MN. It received its IRS tax-exemption ruling in June 2010, 16 years ago. Its declared purposes cover human services, 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 December 2023, Crescent Cove reported income of $2.8m and spending of $2.5m, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.3m to $2.8m (+111%), an average of +20% a year. The sharpest change came in the year to December 2020, when income rose by 38%. 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, Crescent Cove sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 88th percentile within MN. Charities of a similar size with the same main cause include Community Action of Laramie County ($2.8m), Bethel Ministries Inc ($2.8m) and Young Mens Christian Association of Norwich ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 52% and program service revenue 32% of the total. Compensation of current officers, directors and key employees was $255k (10% of expenses). Other salaries and wages came to $1.4m. It paid $22k in professional fundraising fees. At year end it held assets of $6.5m against liabilities of $1.4m, net assets of $5.0m. It reported 46 employees.