Beat cream cheese until fluffy. Slowly add 4 cups powdered sugar. Beat until smooth. Add melted chocolate and beat until blended. Chill for approximately one hour.
Shape chilled mixture into one-inch balls. Roll some in 1 /4 cup powdered sugar, some in cocoa powder, some in nuts, and some in coconut. Store in an airtight container in the refrigerator for up to 2 weeks.