Minnesota Economic Development Foundation

Analysis

Minnesota Economic Development Foundation is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in April 2003, 23 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 publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Minnesota Economic Development Foundation reported income of $50k and spending of $50k, spending 99% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $61k to $50k (-17%), an average of -17% a year. The sharpest change came in the year to December 2023, when income dropped by 17%. Over the whole period it spent 78% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Minnesota Economic Development Foundation sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 16th percentile within MN. Charities of a similar size with the same main cause include Appalachian Commerce & Development ($50k), Tipperary Hill Neighborhood Association Inc ($51k) and Community Health Partnership of Mercer County ($50k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 32% and program service revenue 66% of the total. At year end it held assets of $171k against liabilities of $9,095, net assets of $162k.