The Cove

Analysis

The Cove is a registered charity in United States, based in Twisp, WA. It received its IRS tax-exemption ruling in August 2000, 26 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, The Cove reported income of $398k and spending of $253k, leaving 36% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $340k to $398k (+17%), an average of +4.1% a year. The sharpest change came in the year to December 2020, when income rose by 153%. Over the whole period it spent 59% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Cove sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 65th percentile within WA. Charities of a similar size with the same main cause include A Fund Inc ($398k), Kaweah Delta Hospice Foundation ($398k) and Integrated Recovery Network ($398k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% of the total. Compensation of current officers, directors and key employees was $41k (16% of expenses). Other salaries and wages came to $18k. At year end it held assets of $1.7m against liabilities of $2,028, net assets of $1.7m. It reported 3 employees.