Cogic Memorial Home For The Elderly
EIN: 540971309 · Norfolk, VA · NTEE: L22
| Metric | Value |
|---|---|
| Total Revenue | $224K |
| Total Expenses | $341K |
| Net Assets | $13.4M |
Is Cogic Memorial Home For The Elderly Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Cogic Memorial Home For The Elderly
Cogic Memorial Home For The Elderly (EIN: 540971309) is a nonprofit organization based in Norfolk, VA, classified under NTEE code L22. The organization reported total revenue of $224K and total assets of $15.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Cogic Memorial Home For The Elderly's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Cogic Memorial Home For The Elderly is a small nonprofit that has been operating for 25 years, with 11 years of IRS 990 filings on record (2011–2021). Revenue has grown at a compound annual rate of -17.7%.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
| Total Revenue | $224K |
| Total Expenses | $341K |
| Surplus / Deficit | $-116,355 |
| Total Assets | $15.1M |
| Total Liabilities | $1.7M |
| Net Assets | $13.4M |
| Operating Margin | -51.9% |
| Debt-to-Asset Ratio | 11.0% |
| Months of Reserves | 530.8 months |
Financial Health Grade: B
In 2021, Cogic Memorial Home For The Elderly reported a deficit of $116K with expenses exceeding revenue, holds 530.8 months of operating reserves (strong position), has a debt-to-asset ratio of 11.0% (very low leverage).
Financial Trends
Over 11 years of filings (2011–2021), Cogic Memorial Home For The Elderly's revenue has declined at a compound annual growth rate (CAGR) of -17.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2021 | -98.6% | -89.7% | +9.7% |
| 2020 | +811.3% | +108.7% | +936.1% |
| 2019 | +3.1% | -4.5% | +11.5% |
| 2018 | +1.2% | +7.0% | +0.2% |
| 2017 | +1.8% | +7.0% | +10.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2001 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Cogic Memorial Home For The Elderly has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Cogic Memorial Home For The Elderly with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $116K, with expenses exceeding revenue.
- Debt-to-asset ratio: 11.0%.
Frequently Asked Questions about Cogic Memorial Home For The Elderly
Is Cogic Memorial Home For The Elderly a legitimate charity?
Cogic Memorial Home For The Elderly (EIN: 540971309) is a registered tax-exempt nonprofit based in Virginia. It has 11 years of IRS 990 filings on record. Total revenue: $224K. No red flags identified. Financial health grade: B.
How does Cogic Memorial Home For The Elderly spend its money?
Cogic Memorial Home For The Elderly reported $224K in total revenue in IRS 990 filings. 11 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Cogic Memorial Home For The Elderly tax-deductible?
Cogic Memorial Home For The Elderly is registered as a tax-exempt nonprofit (EIN: 540971309). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Cogic Memorial Home For The Elderly located?
Cogic Memorial Home For The Elderly is headquartered in Norfolk, Virginia and files with the IRS under EIN 540971309. It is classified under NTEE code L22.
How many years of IRS 990 filings does Cogic Memorial Home For The Elderly have?
Cogic Memorial Home For The Elderly has 11 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $224K in total revenue.
Filing History
IRS 990 filing history for Cogic Memorial Home For The Elderly showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2021), Cogic Memorial Home For The Elderly's revenue has declined by 85.7%, moving from $1.6M to $224K. Total assets increased by 1458.3% over the same period, from $967K to $15.1M. Total functional expenses fell by 76.7%, from $1.5M to $341K. In its most recent filing year (2021), Cogic Memorial Home For The Elderly reported a deficit of $116K, with expenses exceeding revenue. The organization holds $1.7M in liabilities against $15.1M in assets (debt-to-asset ratio: 11.0%), resulting in net assets of $13.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2021 | $224K | $341K | $15.1M | $1.7M | — | — |
| 2020 | $15.8M | $3.3M | $13.7M | $204K | — | — |
| 2019 | $1.7M | $1.6M | $1.3M | $203K | — | View 990 |
| 2018 | $1.7M | $1.7M | $1.2M | $196K | — | View 990 |
| 2017 | $1.7M | $1.6M | $1.2M | $195K | — | — |
| 2016 | $1.6M | $1.5M | $1.1M | $183K | — | View 990 |
| 2015 | $1.6M | $1.5M | $940K | $227K | — | View 990 |
| 2014 | $1.7M | $1.5M | $858K | $279K | — | View 990 |
| 2013 | $1.7M | $1.6M | $839K | $366K | — | View 990 |
| 2012 | $1.6M | $1.5M | $933K | $523K | — | View 990 |
| 2011 | $1.6M | $1.5M | $967K | $688K | — | View 990 |
Year-by-Year Financial Summary
- 2021: Revenue of $224K, expenses of $341K, and assets of $15.1M (revenue -98.6% year-over-year).
- 2020: Revenue of $15.8M, expenses of $3.3M, and assets of $13.7M (revenue +811.3% year-over-year).
- 2019: Revenue of $1.7M, expenses of $1.6M, and assets of $1.3M (revenue +3.1% year-over-year).
- 2018: Revenue of $1.7M, expenses of $1.7M, and assets of $1.2M (revenue +1.2% year-over-year).
- 2017: Revenue of $1.7M, expenses of $1.6M, and assets of $1.2M (revenue +1.8% year-over-year).
- 2016: Revenue of $1.6M, expenses of $1.5M, and assets of $1.1M (revenue +1.7% year-over-year).
- 2015: Revenue of $1.6M, expenses of $1.5M, and assets of $940K (revenue -3.3% year-over-year).
- 2014: Revenue of $1.7M, expenses of $1.5M, and assets of $858K (revenue -0.1% year-over-year).
- 2013: Revenue of $1.7M, expenses of $1.6M, and assets of $839K (revenue +2.0% year-over-year).
- 2012: Revenue of $1.6M, expenses of $1.5M, and assets of $933K (revenue +3.1% year-over-year).
- 2011: Revenue of $1.6M, expenses of $1.5M, and assets of $967K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Cogic Memorial Home For The Elderly:
Data Sources and Methodology
This transparency report for Cogic Memorial Home For The Elderly is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.