Cobimet Inc

Analysis

Cobimet Inc is a registered charity in United States, based in Cayey, PR. It received its IRS tax-exemption ruling in September 2019, 7 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Cobimet Inc reported income of $381k and spending of $381k, spending 100% of its income. Across the 3 years on record, from December 2019 to December 2022, income grew from $302k to $381k (+26%), an average of +12% a year. The sharpest change came in the year to December 2022, when income rose by 18%. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cobimet Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 50th percentile within PR. Charities of a similar size with the same main cause include Little Wings Christian Learning Center Inc ($381k), Friends of Chesterton Academy of Detroit ($381k) and Spencer Wilson Scholarship Foundation Inc ($381k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $54k (14% of expenses). At year end it held assets of $423k against liabilities of $121k, net assets of $303k. It reported 1 employees.