Cohome Inc

Analysis

Cohome Inc is a registered charity in United States, based in Morristown, NJ. It received its IRS tax-exemption ruling in November 2017, 9 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 2023, Cohome Inc reported income of $318k and spending of $329k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $59k to $318k (+439%), an average of +52% a year. The sharpest change came in the year to December 2020, when income rose by 1175%. Over the whole period it spent 63% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cohome Inc sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 69th percentile within NJ. Charities of a similar size with the same main cause include Mend I Inc ($318k), Battles Village Incorporated ($319k) and SNHS Elderly Housing Inc ($318k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 74% of the total. Compensation of current officers, directors and key employees was $10k (3.0% of expenses). Other salaries and wages came to $145k. At year end it held assets of $2.2m against liabilities of $940k, net assets of $1.2m. It reported 4 employees.