Covington-Newton County United Fund Inc

Analysis

Covington-Newton County United Fund Inc is a registered charity in United States, based in Covington, GA. It received its IRS tax-exemption ruling in October 1964, 62 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Covington-Newton County United Fund Inc reported income of $293k and spending of $323k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $242k to $293k (+21%), an average of +4.9% a year. The sharpest change came in the year to December 2021, when income dropped by 38%. Over the whole period it spent 95% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Covington-Newton County United Fund Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 65th percentile within GA. Charities of a similar size with the same main cause include Muscogee Educational Excellence Foundation Inc ($293k), Friends of Sozo Kids ($294k) and Childrens Fund for Glycogen Storage Disease Research ($293k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $71k (22% of expenses). Other salaries and wages came to $19k. At year end it held assets of $126k against liabilities of $0, net assets of $126k. It reported 2 employees.