Foundation for Essential Needs

Analysis

Foundation for Essential Needs is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in September 2011, 15 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 June 2023, Foundation for Essential Needs reported income of $944k and spending of $1.0m, spending 108% of what it took in. Across the 5 years on record, from December 2019 to June 2023, income grew from $208k to $944k (+354%), an average of +46% a year. The sharpest change came in the year to June 2021, when income rose by 547%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Foundation for Essential Needs sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 78th percentile within MN. Charities of a similar size with the same main cause include Temech Inc ($944k), Street Angels Inc ($944k) and Family Promise of Southern New Hampshire ($944k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $93k (9.1% of expenses). Other salaries and wages came to $379k. At year end it held assets of $532k against liabilities of $71k, net assets of $461k. It reported 6 employees.