Codefi Foundation on Rural Innovation

Analysis

Codefi Foundation on Rural Innovation is a registered charity in United States, based in Cape Girardeau, MO. It received its IRS tax-exemption ruling in June 2018, 8 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Codefi Foundation on Rural Innovation reported income of $2.2m and spending of $2.4m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $662k to $2.2m (+232%), an average of +35% a year. The sharpest change came in the year to December 2020, when income rose by 94%. Over the whole period it spent 104% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Codefi Foundation on Rural Innovation sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 85th percentile within MO. Charities of a similar size with the same main cause include Africatown International ($2.2m), Center of Excellence Properties Fund ($2.2m) and Centerforce ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 7.5% of the total. Other salaries and wages came to $211k. At year end it held assets of $431k against liabilities of $179k, net assets of $252k. It reported 2 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.