Covington Education Foundation Inc

Analysis

Covington Education Foundation Inc is a registered charity in United States, based in Covington, KY. It received its IRS tax-exemption ruling in November 1999, 27 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Covington Education Foundation Inc reported income of $50k and spending of $12k, leaving 76% of income unspent that year. Across the 2 years on record, from June 2022 to June 2023, income fell from $121k to $50k (-59%), an average of -59% a year. The sharpest change came in the year to June 2023, when income dropped by 59%. Over the whole period it spent 20% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Covington Education Foundation Inc sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 17th percentile within KY. Charities of a similar size with the same main cause include PS 15 Patrick F Daly School PTA ($50k), Crestmont Parent-Teacher Club ($50k) and Professional Engineers of North Carolina-Educational Foundation ($50k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 57% of the total. At year end it held assets of $205k against liabilities of $0, net assets of $205k.