Cottage Grove Place

Analysis

Cottage Grove Place is a registered charity in United States, based in Cedar Rapids, IA. It received its IRS tax-exemption ruling in June 1994, 32 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Cottage Grove Place reported income of $18.9m and spending of $19.0m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $14.7m to $18.9m (+28%), an average of +6.5% a year. The sharpest change came in the year to December 2022, when income rose by 23%. Over the whole period it spent 101% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Cottage Grove Place sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within IA. Charities of a similar size with the same main cause include Coastal Georgia Area Community Action Authority Inc ($18.9m), Food Finders Food Bank Inc ($18.9m) and Early Learning Indiana Inc ($18.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 10% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $289k (1.5% of expenses). Other salaries and wages came to $6.8m. At year end it held assets of $56.6m against liabilities of $61.1m, net assets of -$4.4m. It reported 319 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.