Minnesota River Area Agency on Aging Inc

Analysis

Minnesota River Area Agency on Aging Inc is a registered charity in United States, based in Mankato, MN. It received its IRS tax-exemption ruling in May 2010, 16 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 River Area Agency on Aging Inc reported income of $9.1m and spending of $9.1m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.4m to $9.1m (+42%), an average of +9.2% a year. The sharpest change came in the year to December 2020, when income rose by 26%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Minnesota River Area Agency on Aging Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MN. Charities of a similar size with the same main cause include Childrens Home Foundation ($9.1m), Wellmont Wexford House ($9.2m) and Marthas Village and Kitchen Inc ($9.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 1.0% of the total. Compensation of current officers, directors and key employees was $116k (1.3% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $2.8m against liabilities of $1.7m, net assets of $1.1m. It reported 47 employees.