Covington Business Council Foundaiton Inc

Analysis

Covington Business Council Foundaiton Inc is a registered charity in United States, based in Covington, KY. It received its IRS tax-exemption ruling in November 1984, 42 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Covington Business Council Foundaiton Inc reported income of $53k and spending of $49k, spending 93% of its income. Across the 4 years on record, from December 2019 to December 2023, income grew from $50k to $53k (+4.3%), an average of +1.4% a year. The sharpest change came in the year to December 2022, when income rose by 916%. Over the whole period it spent 141% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Covington Business Council Foundaiton Inc sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 18th percentile within KY. Charities of a similar size with the same main cause include Greentree Charities ($52k), Building Selflove Foundation ($53k) and Sahara Club ($52k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 95% of the total. At year end it held assets of $84k against liabilities of $800, net assets of $84k.