Cove-Heart of Texas Inc

Analysis

Cove-Heart of Texas Inc is a registered charity in United States, based in Waco, TX. It received its IRS tax-exemption ruling in September 2015, 11 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 December 2023, Cove-Heart of Texas Inc reported income of $457k and spending of $759k, spending 166% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $653k to $457k (-30%), an average of -8.5% a year. The sharpest change came in the year to December 2021, when income rose by 100%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cove-Heart of Texas 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 69th percentile, and in the 73rd percentile within TX. Charities of a similar size with the same main cause include Star Christian School ($457k), Rockwall High School Orange Wave Band Boosters ($457k) and Harmony Christian Academy ($457k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Other salaries and wages came to $467k. At year end it held assets of $652k against liabilities of $42k, net assets of $610k. It reported 15 employees.