Corda Foundation

Analysis

Corda Foundation is a registered charity in United States, based in Chapel Hill, NC. It received its IRS tax-exemption ruling in December 2000, 26 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Corda Foundation reported income of $103k and spending of $246k, spending 238% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $282k to $103k (-63%), an average of -22% a year. The sharpest change came in the year to December 2020, when income dropped by 34%. Over the whole period it spent 183% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Corda Foundation sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 36th percentile within NC. Charities of a similar size with the same main cause include Upper Jay Art Center ($103k), Catskill Ballet Theatre Company Inc ($103k) and Connecticut Society of Genealogists Inc ($103k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% of the total. Compensation of current officers, directors and key employees was $35k (14% of expenses). At year end it held assets of $2.6m against liabilities of $4,933, net assets of $2.6m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.