Initiative Foundation

Analysis

Initiative Foundation is a registered charity in United States, based in Little Falls, MN. It received its IRS tax-exemption ruling in August 1986, 40 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, Initiative Foundation reported income of $10.0m and spending of $9.4m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $10.3m to $10.0m (-2.5%), an average of -0.6% a year. The sharpest change came in the year to December 2020, when income rose by 111%. Over the whole period it spent 61% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Initiative Foundation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within MN. Charities of a similar size with the same main cause include East Los Angeles Community Union ($10.0m), Jamaica Plain Neighborhood Development Corporation ($10.0m) and Employment Horizons Inc ($10.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 71% and program service revenue 8.0% of the total. Compensation of current officers, directors and key employees was $839k (9.0% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $109.0m against liabilities of $8.4m, net assets of $100.6m. It reported 33 employees.