Covation Center Inc
- Assets
- $16.0k
- Revenue
- $348.5k
- Investments
- $0.0
- Employees
- 6
- Location
- Trout Run, PA
- Founding
- 01/2017
- Data as of
- 12/2022
- EIN
- 81-1771632
Organization Overview
Covation Center Inc is located in Trout Run, PA. The organization was established in 2017. According to its NTEE Classification (J02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Employment and related organizations. As of 12/2022, Covation Center Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Covation Center Inc 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 12/2022, Covation Center Inc generated $348.5k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 35.8% each year . All expenses for the organization totaled $309.6k during the year ending 12/2022. While expenses have increased by 37.0% per year over the past 6 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ENERGIZE RURAL PENNSYLVANIA, ENABLING ALL CITIZENS TO INNOVATE, CREATE, AND MANUFACTURE, BUILDING A LASTING ECONOMY
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTRACTED SERVICES FOR GOV'T AGENCIES (ENGAGE PROJECT & DIAP BRE DOD SURVEY PROJECT)
PROVIDE SHARED WORK SPACE FOR INDIVIDUALS AND BUSINESS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephan Brady Executive Di | OfficerTrustee | 12.2 | $95,175 |
Jennifer Brady Secretary | OfficerTrustee | 0.15 | $0 |
Karl Fisher President | OfficerTrustee | 0.15 | $0 |
Nicholas Grimes Member | Trustee | 0.15 | $0 |
Jay Lewis Member | Trustee | 0.15 | $0 |
Karen Metz Treasurer | OfficerTrustee | 0.15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $57,451 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,400 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $63,851 |
| Total Program Service Revenue | $284,635 |
| Investment income | $4 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $348,490 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $199,711 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $17,807 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,920 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $29,666 |
| Advertising and promotion | $2,046 |
| Office expenses | $8,380 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $29,954 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $440 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $112 |
| Insurance | $1,944 |
| All other expenses | $260 |
| Total functional expenses | $309,591 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,760 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $82 |
| Net Land, buildings, and equipment | $167 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,009 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,567 |
| Total liabilities | $1,567 |
| Net assets without donor restrictions | $14,442 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $16,009 |
Peer Organizations
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|---|---|---|
The Fedcap Group Inc New York, NY | $27,129,496 | $24,697,027 |
Pearl Transit Marlton, NJ | $14,555,741 | $6,340,468 |
Sheet Metal Workers Labor Management Committee And Trust Brewster, NY | $2,400,391 | $1,374,290 |
Communication Workers Of America New York, NY | $160,762 | $409,772 |
Covation Center Inc Trout Run, PA | $16,009 | $348,490 |
Brothers Building A Better Nation Newark, NJ | $22,231 | $0 |
Building Right Relationships Inc Severn, MD | $15,793 | $74,511 |
Laborers Local 754 Labor-Management Committee Chestnut Ridge, NY | $42,588 | $0 |
Wit-Ops Silver Spring, MD | $0 | $0 |
Nawbo Philadelphia Center For Advancing Entrepreneurs Fort Washington, PA | $0 | $0 |