Build Wealth MN Inc

Analysis

Build Wealth MN Inc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in April 2007, 19 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Build Wealth MN Inc reported income of $7.7m and spending of $4.2m, leaving 45% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $7.7m (+371%), an average of +47% a year. The sharpest change came in the year to December 2021, when income rose by 163%. Over the whole period it spent 51% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Build Wealth MN Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within MN. Charities of a similar size with the same main cause include Meridian School ($7.7m), World Mission University ($7.7m) and Launch Expeditionary Learning Charter School ($7.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 6.7% of the total. Other salaries and wages came to $1.6m. At year end it held assets of $15.4m against liabilities of $3.0m, net assets of $12.4m. It reported 21 employees.