Corvino Foundation Inc

Analysis

Corvino Foundation Inc is a registered charity in United States, based in Chesterfield, NJ. It received its IRS tax-exemption ruling in May 2021, 5 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Corvino Foundation Inc reported income of $100k and spending of $52k, leaving 48% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $74k to $100k (+35%), an average of +34% a year. The sharpest change came in the year to December 2023, when income rose by 35%. Over the whole period it spent 70% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Corvino Foundation Inc sits at the 32nd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 45th percentile within NJ. Charities of a similar size with the same main cause include Project 541 ($100k), Liberation Alliance for Economic and Social Change ($100k) and Country Kids Food Pantry Inc ($100k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $53k against liabilities of $0, net assets of $53k.