Cortex

Analysis

Cortex is a registered charity in United States, based in Saint Louis, MO. It received its IRS tax-exemption ruling in June 2002, 24 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 2023, Cortex reported income of $17.2m and spending of $10.4m, leaving 40% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.9m to $17.2m (+342%), an average of +45% a year. The sharpest change came in the year to December 2022, when income rose by 560%. Over the whole period it spent 62% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Cortex sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 95th percentile within MO. Charities of a similar size with the same main cause include RVC Seattle ($17.2m), East Missouri Action Agency Inc ($17.3m) and Marion Goodwill Industries Inc ($17.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 69% and program service revenue 25% of the total. Compensation of current officers, directors and key employees was $908k (8.7% of expenses). Other salaries and wages came to $830k. At year end it held assets of $84.7m against liabilities of $18.8m, net assets of $65.9m. It reported 27 employees.