Corazon Latino Inc

Analysis

Corazon Latino Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in June 2018, 8 years ago. Its declared purposes cover public safety, disaster preparedness and relief, which this site groups under armed forces, emergency and public safety. 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 2022, Corazon Latino Inc reported income of $876k and spending of $981k, spending 112% of what it took in. Across the 5 years on record, from December 2018 to December 2022, income grew from $292k to $876k (+200%), an average of +32% a year. The sharpest change came in the year to December 2019, when income rose by 110%. Over the whole period it spent 107% of the income it received.

Among 9,128 United States charities whose main cause is armed forces, emergency and public safety and that reported income, Corazon Latino Inc sits at the 91st percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 52nd percentile within DC. Charities of a similar size with the same main cause include Kimberton Fire Company ($872k), Collettsville Volunteer Fire Dept Inc ($877k) and West Deer Township Volunteer Fire Co No 3 ($871k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $257k. At year end it held assets of $78k against liabilities of $119k, net assets of -$41k. It reported 5 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.