The Fund for Covington Inc

Analysis

The Fund for Covington Inc is a registered charity in United States, based in Covington, KY. It received its IRS tax-exemption ruling in June 2014, 12 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Fund for Covington Inc reported income of $191k and spending of $76k, leaving 60% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income fell from $237k to $191k (-19%), an average of -6.9% a year. The sharpest change came in the year to December 2023, when income rose by 385%. Over the whole period it spent 67% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, The Fund for Covington Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 52nd percentile within KY. Charities of a similar size with the same main cause include Woolly Worm Festival of Banner Elk NC ($191k), Northwest Little League of San Antonio Texas Incorporated ($191k) and Duxbury Youth Soccer Inc ($191k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $179k against liabilities of $0, net assets of $179k.