Coconut Grove Cares Inc

Analysis

Coconut Grove Cares Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in October 1949, 77 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Coconut Grove Cares Inc reported income of $449k and spending of $467k, spending 104% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $411k to $449k (+9.2%), an average of +2.2% a year. The sharpest change came in the year to June 2022, when income rose by 24%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Coconut Grove Cares Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 71st percentile within FL. Charities of a similar size with the same main cause include Gods Hands Academy ($449k), Penfield Hope Inc ($449k) and Outreach Teen & Family Services ($449k).

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 $49k (10% of expenses). Other salaries and wages came to $228k. At year end it held assets of $355k against liabilities of $21k, net assets of $335k. It reported 30 employees.