Cosac Foundation Inc

Analysis

Cosac Foundation Inc is a registered charity in United States, based in Davie, FL. It received its IRS tax-exemption ruling in November 2015, 11 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 December 2023, Cosac Foundation Inc reported income of $671k and spending of $982k, spending 146% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $933k to $671k (-28%), an average of -6.4% a year. The sharpest change came in the year to December 2021, when income dropped by 40%. Over the whole period it spent 115% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Cosac Foundation Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 77th percentile within FL. Charities of a similar size with the same main cause include Bridge Builders Inc ($671k), Center for Conscious Living & Dying Inc ($671k) and Lighthouse Financial Foundation ($671k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 28% and program service revenue 72% of the total. Compensation of current officers, directors and key employees was $228k (23% of expenses). At year end it held assets of $1.2m against liabilities of $1.2m, net assets of $19k. It reported 5 employees.

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.