Canopy Certified Inc

Analysis

Canopy Certified Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in July 2019, 7 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Canopy Certified Inc reported income of $371k and spending of $409k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $299k to $371k (+24%), an average of +5.5% a year. The sharpest change came in the year to December 2020, when income rose by 28%. Over the whole period it spent 111% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Canopy Certified Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 66th percentile within KY. Charities of a similar size with the same main cause include Small and Emerging Contractors Advisory Forum ($371k), Center for Community Engagement ($371k) and Greater Bridgeport Opportunities Industrialization Center Inc ($371k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 79% and program service revenue 16% of the total. Other salaries and wages came to $248k. At year end it held assets of $64k against liabilities of $110k, net assets of -$46k. It reported 7 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.