Minnesota Heat Hoops Inc

Analysis

Minnesota Heat Hoops Inc is a registered charity in United States, based in Maple Grove, MN. It received its IRS tax-exemption ruling in April 2011, 15 years ago. 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, Minnesota Heat Hoops Inc reported income of $1.6m and spending of $1.5m, spending 94% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $940k to $1.6m (+71%), an average of +11% a year. The sharpest change came in the year to December 2023, when income rose by 122%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Minnesota Heat Hoops Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within MN. Charities of a similar size with the same main cause include New Mexico Mesa Inc ($1.6m), Pine View Christian Home Inc ($1.6m) and Allen Action Agency Inc ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $237k (16% of expenses). Other salaries and wages came to $110k. At year end it held assets of $365k against liabilities of $19k, net assets of $346k. It reported 4 employees.