Coromoto 2020

Analysis

Coromoto 2020 is a registered charity in United States, based in Excelsior, MN. It received its IRS tax-exemption ruling in March 2022, 4 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Coromoto 2020 reported income of $243k and spending of $156k, leaving 36% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $194k to $243k (+25%), an average of +25% a year. The sharpest change came in the year to December 2023, when income rose by 25%. Over the whole period it spent 78% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Coromoto 2020 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 58th percentile, and in the 56th percentile within MN. Charities of a similar size with the same main cause include Thursday Club Foundation ($243k), Pfunanane Ministries Incorporated ($243k) and Na Lima Kahiau ($243k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $126k against liabilities of $0, net assets of $126k.