Cogic Charities Inc

Nonprofit profile at a glance

EIN
371437524
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Memphis, TN, USA
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Centers to Support the Independence of Specific Populations

Reported finances

Revenue
$227,655
Expenses
$236,035
Assets
$1,294,791
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • BISHOP J DREW SHEARD (President)

People named in this filing

  • BISHOP J DREW SHEARD (President)
  • DR SYLVIA H LAW (Board Member)
  • PATRICIA WAYS (Board Member)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Cogic charities, inc. Provides support for communities in need due to major global disasters, performs special projects that support and/or enhance families and communities, addresses local and community needs that come to its attention, and awards educational scholarships.

What it reported doing in 2024

Disaster relief projects

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 90
  • Accountability: 81
  • Sustainability: 56
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.3%; rating input score 80
  • Program expense ratio: 76.6%; rating input score 77
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 87.5%; rating input score 88; 24th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3.7%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 5.49; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 9.3% per year; rating input score 100; 68th percentile among comparable filings
  • Revenue growth: 1.1% per year; rating input score 100; 30th percentile among comparable filings
  • Asset growth: 2.7% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 80.3% of revenue deployed · 76.6% of spending went to programs
  • Governance: 14 of 16 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $181K in reported program spending
  • Leadership: top reported pay $0 · 16 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 31/100.