Corazon Puro

Analysis

Corazon Puro is a registered charity in United States, based in Paterson, NJ. It received its IRS tax-exemption ruling in March 1946, 80 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Corazon Puro reported income of $697k and spending of $642k, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $389k to $697k (+79%), an average of +16% a year. The sharpest change came in the year to December 2023, when income rose by 55%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Corazon Puro sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 79th percentile within NJ. Charities of a similar size with the same main cause include National Council of Catholic Women ($697k), Hadley Terrace Inc ($697k) and Community Workshop Residentials Inc D an Il NFP Corp ($697k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 6.2% of the total. Compensation of current officers, directors and key employees was $9,427 (1.5% of expenses). Other salaries and wages came to $118k. At year end it held assets of $2.9m against liabilities of $2.3m, net assets of $580k. It reported 7 employees.