Cobalt Foundation

Analysis

Cobalt Foundation is a registered charity in United States, based in Denver, CO. It received its IRS tax-exemption ruling in September 1967, 59 years ago. Its declared purposes cover civil rights, social action and advocacy, which this site groups under human rights and equality. 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, Cobalt Foundation reported income of $3.8m and spending of $5.0m, spending 133% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $3.8m (+175%), an average of +29% a year. The sharpest change came in the year to December 2021, when income rose by 957%. Over the whole period it spent 38% of the income it received.

Among 9,611 United States charities whose main cause is human rights and equality and that reported income, Cobalt Foundation sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within CO. Charities of a similar size with the same main cause include Latinojustice Prldef ($3.8m), National Technical Investigators Association ($3.8m) and Massachusetts Immigrant and Refugee Advocacy Coalition Inc ($3.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% and program service revenue 14% of the total. Other salaries and wages came to $1.4m. At year end it held assets of $18.7m against liabilities of $107k, net assets of $18.6m. It reported 33 employees.