Cove Charitable Trust
- Assets
- $5.3m
- Revenue
- $841.7k
- Investments
- $5.1m
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 12/1964
- Data as of
- 12/2021
- EIN
- 04-6118955
Organization Overview
Cove Charitable Trust is located in Pittsburgh, PA. The organization was established in 1964. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cove Charitable Trust is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Cove Charitable Trust generated $841.7k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 26.7% each year . All expenses for the organization totaled $170.5k during the year ending 12/2021. While expenses have increased by 0.3% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Cove Charitable Trust has awarded 58 individual grants totaling $641,636. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $146,559 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $695,118 |
| Capital Gain Net Income | $695,118 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $841,677 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $47,759 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $10,057 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $6,535 |
| Total operating and administrative expenses | $64,351 |
| Contributions, gifts, grants paid | $106,136 |
| Total expenses and disbursements | $170,487 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $198,015 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $5,113,851 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $5,311,866 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Cove Charitable Trust has awarded $106,136 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
AYLAS ACRES NO KILL ANIMAL RESCU PURPOSE: GENERAL OPERATING | $25,000 |
YWCA METRO OF METROPOLITAN ST LOUIS PURPOSE: GENERAL OPERATING | $15,866 |
NICA NADADORES INC PURPOSE: GENERAL OPERATING | $12,000 |
NETOP SUMMER CAMP SCHOLARSHIP FUND PURPOSE: GENERAL OPERATING | $10,000 |
Norwalk, CT PURPOSE: GENERAL OPERATING | $7,885 |
FAMILY EQUALITY NETWORK PURPOSE: GENERAL OPERATING | $7,135 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
S & G Foundation albany, NY | $1,180,089,159 | $294,936,683 |
Starr Foundation New York, NY | $1,351,331,495 | $187,314,215 |
Robertson Foundation New York, NY | $308,129,047 | $104,540,927 |
William Randolph Hearst Foundation New York, NY | $0 | $92,096,829 |
Foundation For A Just Society New York, NY | $0 | $262,120,919 |
Surdna Foundation Inc New York, NY | $0 | $71,392,126 |
Johnson & Johnson Foundation United States Inc New Brunswick, NJ | $130,108,063 | $92,858,448 |
Carson Fam Charitable Tr New York, NY | $302,357,968 | $144,716,166 |
Blavatnik Family Foundation 2020 New York, NY | $0 | $14,146 |
Diana Davis Spencer Foundation Bethesda, MD | $1,510,145,435 | $31,448,274 |
Davis Family Foundation Hanover, MD | $1,302,672,743 | $64,475,559 |
Henry Luce Foundation Inc New York, NY | $1,226,277,880 | $84,818,070 |