Cocoon House

Analysis

Cocoon House is a registered charity in United States, based in Everett, WA. It received its IRS tax-exemption ruling in October 1994, 32 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 June 2023, Cocoon House reported income of $12.8m and spending of $13.5m, spending 105% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.3m to $12.8m (+143%), an average of +25% a year. The sharpest change came in the year to June 2021, when income rose by 50%. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cocoon House sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within WA. Charities of a similar size with the same main cause include Friendship Shelter Inc ($12.8m), Huntington at Nashua ($12.8m) and Hearth Connection ($12.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.6% of the total. Compensation of current officers, directors and key employees was $488k (3.6% of expenses). Other salaries and wages came to $4.2m. At year end it held assets of $18.0m against liabilities of $10.3m, net assets of $7.7m. It reported 157 employees.