Minneapolis - St Paul Regional Economic Development Partnership

Analysis

Minneapolis - St Paul Regional Economic Development Partnership is a registered charity in United States, based in Saint Paul, MN. It received its IRS tax-exemption ruling in June 2011, 15 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Minneapolis - St Paul Regional Economic Development Partnership reported income of $8.0m and spending of $7.6m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.3m to $8.0m (+27%), an average of +6.3% a year. The sharpest change came in the year to December 2023, when income rose by 18%. Over the whole period it spent 94% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Minneapolis - St Paul Regional Economic Development Partnership sits at the 95th percentile: it is larger than about 95% 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 Team Neo Foundation ($8.0m), Southwest Michigan First Corporation ($8.0m) and Goodwill Industries Serving Southeast Nebraska Inc ($8.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $1.3m (17% of expenses). Other salaries and wages came to $2.5m. At year end it held assets of $6.4m against liabilities of $1.6m, net assets of $4.8m. It reported 27 employees.