Elim Preschool

Analysis

Elim Preschool is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in July 2009, 17 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2024, Elim Preschool reported income of $162k and spending of $170k, spending 105% of its income. Across the 6 years on record, from July 2019 to July 2024, income fell from $269k to $162k (-40%), an average of -9.7% a year. The sharpest change came in the year to July 2023, when income dropped by 27%. Over the whole period it spent 121% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Elim Preschool sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 47th percentile within MN. Charities of a similar size with the same main cause include Hughesville Public Library ($162k), Cookeville Childrens Theatre ($162k) and Positive Outlook Inc ($162k).

On its Form 990 for the period ending July 2024, revenue came from contributions and grants 4.2% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $45k (27% of expenses). Other salaries and wages came to $82k. At year end it held assets of $67k against liabilities of $25k, net assets of $42k.

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.