Minot Community Foundation

Analysis

Minot Community Foundation is a registered charity in United States, based in Minot, ND. It received its IRS tax-exemption ruling in May 2002, 24 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Minot Community Foundation reported income of $1.8m and spending of $1.4m, leaving 23% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.8m (+45%), an average of +9.8% a year. The sharpest change came in the year to December 2021, when income rose by 523%. Over the whole period it spent 28% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Minot Community Foundation sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 83rd percentile within ND. Charities of a similar size with the same main cause include Phoenix Employment Services of Wilmington Inc ($1.8m), Project Equity ($1.8m) and Georgia Corporation for Economic Development ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 34% of the total. Compensation of current officers, directors and key employees was $118k (8.7% of expenses). Other salaries and wages came to $80k. At year end it held assets of $38.0m against liabilities of $1.4m, net assets of $36.7m. It reported 3 employees.