Minnetrista Cultural Foundation Inc

Analysis

Minnetrista Cultural Foundation Inc is a registered charity in United States, based in Muncie, IN. It received its IRS tax-exemption ruling in April 1987, 39 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Minnetrista Cultural Foundation Inc reported income of $5.1m and spending of $5.3m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.5m to $5.1m (+15%), an average of +3.5% a year. Over the whole period it spent 107% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Minnetrista Cultural Foundation Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within IN. Charities of a similar size with the same main cause include Head Start Child & Family Development Center Inc ($5.1m), Boy Scouts of America ($5.1m) and Vandercook College of Music ($5.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 5.6% of the total. Compensation of current officers, directors and key employees was $229k (4.3% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $15.4m against liabilities of $209k, net assets of $15.2m. It reported 122 employees.

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.