Cogic Charities Inc

Analysis

Cogic Charities Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in June 2003, 23 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, Cogic Charities Inc reported income of $311k and spending of $408k, spending 131% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $148k to $311k (+110%), an average of +20% a year. The sharpest change came in the year to December 2022, when income rose by 296%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Cogic Charities Inc sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 64th percentile within TN. Charities of a similar size with the same main cause include Southeastern Dispute Resolution Services ($311k), NJ Food & Clothing Rescue ($311k) and Northeast Houston Redevelopment Council ($311k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 33% and program service revenue 39% of the total. At year end it held assets of $1.3m against liabilities of $0, net assets of $1.3m.