United Way of Steele County

Analysis

United Way of Steele County is a registered charity in United States, based in Owatonna, MN. It received its IRS tax-exemption ruling in December 1974, 52 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, United Way of Steele County reported income of $1.1m and spending of $1.2m, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.1m to $1.1m (-0.2%), an average of -0.1% a year. The sharpest change came in the year to December 2022, when income rose by 19%. Over the whole period it spent 102% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, United Way of Steele County sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 80th percentile within MN. Charities of a similar size with the same main cause include Morrow Education Foundation ($1.1m), Roundglass Foundation ($1.1m) and American Friends of Lema an Achai ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $81k (6.5% of expenses). Other salaries and wages came to $153k. At year end it held assets of $1.6m against liabilities of $617k, net assets of $945k. It reported 4 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.