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
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 |
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 |
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