Coolanu Inc

Analysis

Coolanu Inc is a registered charity in United States, based in N Miami Beach, FL. It received its IRS tax-exemption ruling in October 2014, 12 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Coolanu Inc reported income of $1.4m and spending of $680k, leaving 50% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $339k to $1.4m (+301%), an average of +42% a year. The sharpest change came in the year to December 2023, when income rose by 1944%. Over the whole period it spent 76% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Coolanu Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 84th percentile within FL. Charities of a similar size with the same main cause include Youth with a Mission-Madison Inc ($1.4m), Montrose Bible Conference Association ($1.4m) and Spread Truth Ministries Inc ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $377k. It paid $3,000 in professional fundraising fees. At year end it held assets of $1.0m against liabilities of $505k, net assets of $535k. It reported 2 employees.