Minnesota Thunder Academy

Analysis

Minnesota Thunder Academy is a registered charity in United States, based in Richfield, MN. It received its IRS tax-exemption ruling in July 2014, 12 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, Minnesota Thunder Academy reported income of $2.5m and spending of $2.2m, spending 89% of its income. Across the 4 years on record, from July 2020 to July 2023, income grew from $1.6m to $2.5m (+58%), an average of +16% a year. The sharpest change came in the year to July 2021, when income rose by 32%. Over the whole period it spent 86% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Minnesota Thunder Academy sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 87th percentile within MN. Charities of a similar size with the same main cause include Intentional Sports ($2.5m), Kent County Regional Sports Complex Corp ($2.5m) and Special Olympics Oklahoma Inc ($2.5m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 2.5% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $61k (2.7% of expenses). Other salaries and wages came to $852k. At year end it held assets of $2.1m against liabilities of $1.0m, net assets of $1.1m. It reported 65 employees.