Cortico Corporation

Analysis

Cortico Corporation is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in February 2017, 9 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. 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, Cortico Corporation reported income of $2.5m and spending of $4.3m, spending 173% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.5m to $2.5m (+1.7%), an average of +0.4% a year. The sharpest change came in the year to December 2022, when income rose by 242%. Over the whole period it spent 127% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Cortico Corporation sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 86th percentile within MA. Charities of a similar size with the same main cause include Alabama Historic Ironworks Commission ($2.5m), JMG Productions Inc ($2.5m) and Prince Georges Arts and Humanities Council Inc ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% and program service revenue 28% of the total. Compensation of current officers, directors and key employees was $528k (12% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $7.5m against liabilities of $121k, net assets of $7.4m. It reported 33 employees.