Codeva Inc

Analysis

Codeva Inc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in August 2014, 12 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2023, Codeva Inc reported income of $3.8m and spending of $4.3m, spending 113% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $2.4m to $3.8m (+59%), an average of +17% a year. The sharpest change came in the year to June 2021, when income rose by 77%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Codeva Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within VA. Charities of a similar size with the same main cause include American Indian Resource Center Inc ($3.8m), Organization of Black Aerospace Professionals ($3.8m) and Skyline Techincal High School ($3.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 2.6% of the total. Compensation of current officers, directors and key employees was $145k (3.4% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $1.4m against liabilities of $363k, net assets of $1.0m. It reported 88 employees.