Breakwater Health Network

Analysis

Breakwater Health Network is a registered charity in United States, based in Duluth, MN. It received its IRS tax-exemption ruling in April 2009, 17 years ago. 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 April 2023, Breakwater Health Network reported income of $694k and spending of $602k, spending 87% of its income. Across the 5 years on record, from April 2019 to April 2023, income fell from $1.1m to $694k (-36%), an average of -11% a year. The sharpest change came in the year to April 2023, when income dropped by 65%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Breakwater Health Network sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 74th percentile within MN. Charities of a similar size with the same main cause include Vanceboro Rescue Squad Inc ($694k), Park Silly Sunday Market ($694k) and Safety Council of Northwest Ohio ($694k).

On its Form 990 for the period ending April 2023, revenue came from contributions and grants 52% and program service revenue 48% of the total. Other salaries and wages came to $402k. At year end it held assets of $660k against liabilities of $42k, net assets of $618k. It reported 3 employees.