Is Cocoon Shelter Legit?

Cocoon Shelter demonstrates strong financial health and efficient spending based on its recent IRS 990 filings. In 2023, the organization reported revenues of $2,203,804 against expenses of $1,791,832, indicating a healthy surplus that contributes to asset growth. Over the past five years (2019-2023), revenue has shown consistent growth, from $1,234,360 to over $2.2 million, while expenses have remained well-managed relative to income. The organization's assets have also steadily increased, reaching $6,406,533 in 2023, suggesting good financial stewardship and capacity building. The consistent reporting of 0% officer compensation across all available filings indicates a commitment to directing resources towards its mission rather than executive salaries, enhancing its transparency and public trust. The organization's spending efficiency is commendable, with a significant portion of its expenses likely dedicated to program services, given the absence of reported officer compensation. The consistent growth in assets, coupled with manageable liabilities (e.g., $1,343,877 in 2023), further solidifies its financial stability. The detailed filing history, spanning 13 periods, provides a comprehensive view of its financial trajectory, demonstrating a long-term commitment to transparency and accountability. This consistent financial performance and clear reporting make Cocoon Shelter appear to be a well-managed and financially sound nonprofit.