Convergence Events Inc

Analysis

Convergence Events Inc is a registered charity in United States, based in Roseville, MN. It received its IRS tax-exemption ruling in April 2010, 16 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Convergence Events Inc reported income of $451k and spending of $370k, spending 82% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $491k to $451k (-8.1%), an average of -2.1% a year. The sharpest change came in the year to December 2020, when income dropped by 61%. Over the whole period it spent 101% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Convergence Events Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 68th percentile within MN. Charities of a similar size with the same main cause include Impact 100 of Northwest Florida Inc ($451k), Normandale PTO Parent Teacher Organization ($451k) and Philip Cuomo Family Foundation Inc ($451k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% and program service revenue 12% of the total. At year end it held assets of $166k against liabilities of $9,533, net assets of $157k.