Cobbworks Inc

Analysis

Cobbworks Inc is a registered charity in United States, based in Marietta, GA. It received its IRS tax-exemption ruling in February 2007, 19 years ago. Its declared purposes cover employment, which this site groups under community and economic 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 June 2023, Cobbworks Inc reported income of $4.8m and spending of $4.7m, spending 99% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $5.1m to $4.8m (-6.7%), an average of -2.3% a year. The sharpest change came in the year to June 2021, when income rose by 18%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Cobbworks Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within GA. Charities of a similar size with the same main cause include Valiant Living Incorporated ($4.8m), Warm Springs Community Action Team ($4.8m) and Northern New England Employment Ser ($4.8m).

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 $159k (3.4% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $1.1m against liabilities of $643k, net assets of $427k. It reported 32 employees.