Cove Ltd

Analysis

Cove Ltd is a registered charity in United States, based in Shipshewana, IN. It received its IRS tax-exemption ruling in October 2015, 11 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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 December 2023, Cove Ltd reported income of $606k and spending of $476k, leaving 21% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $364k to $606k (+67%), an average of +14% a year. The sharpest change came in the year to December 2021, when income rose by 113%. Over the whole period it spent 75% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Cove Ltd sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within IN. Charities of a similar size with the same main cause include Pat Connaughton Foundation ($606k), Casa of Scott County Inc ($606k) and Eighty-Seven & Running ($605k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 26% and program service revenue 48% of the total. Other salaries and wages came to $197k. At year end it held assets of $2.0m against liabilities of $296k, net assets of $1.7m. It reported 3 employees.