Covered Corporation

Analysis

Covered Corporation is a registered charity in United States, based in Aurora, CO. It received its IRS tax-exemption ruling in March 2018, 8 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 June 2024, Covered Corporation reported income of $767k and spending of $590k, leaving 23% of income unspent that year. Across the 4 years on record, from December 2021 to June 2024, income grew from $381k to $767k (+101%), an average of +26% a year. The sharpest change came in the year to June 2023, when income rose by 197%. Over the whole period it spent 72% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Covered Corporation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 74th percentile within CO. Charities of a similar size with the same main cause include Andrew Weishar Foundation ($767k), Ave Maria Foundation of Memphis Inc ($767k) and Non-Profit Management Solutions ($767k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 98% of the total. Other salaries and wages came to $357k. At year end it held assets of $652k against liabilities of $1,432, net assets of $651k. It reported 19 employees.