Cabarrus Cooperative Christian Ministry Inc

Analysis

Cabarrus Cooperative Christian Ministry Inc is a registered charity in United States, based in Kannapolis, NC. It received its IRS tax-exemption ruling in April 1982, 44 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Cabarrus Cooperative Christian Ministry Inc reported income of $9.8m and spending of $5.3m, leaving 46% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.1m to $9.8m (+215%), an average of +33% a year. The sharpest change came in the year to June 2022, when income rose by 59%. Over the whole period it spent 80% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cabarrus Cooperative Christian Ministry Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within NC. Charities of a similar size with the same main cause include Community Action Commission of Fayette County ($9.8m), Girl Scouts of Connecticut Inc ($9.8m) and Southeast Education Inc ($9.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $108k (2.0% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $8.5m against liabilities of $72k, net assets of $8.4m. It reported 30 employees.