Northeast Entrepreneur Fund Inc

Analysis

Northeast Entrepreneur Fund Inc is a registered charity in United States, based in Duluth, MN. It received its IRS tax-exemption ruling in September 1988, 38 years ago. 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, Northeast Entrepreneur Fund Inc reported income of $12.8m and spending of $7.8m, leaving 39% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.9m to $12.8m (+163%), an average of +27% a year. The sharpest change came in the year to December 2020, when income rose by 106%. Over the whole period it spent 56% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Northeast Entrepreneur Fund Inc 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 96th percentile, and in the 96th percentile within MN. Charities of a similar size with the same main cause include Rise Preparatory Charter School Inc ($12.7m), Healing Place Inc ($12.8m) and Foundation for Health Leadership and Innovation Incorporated ($12.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 69% and program service revenue 29% of the total. Compensation of current officers, directors and key employees was $410k (5.3% of expenses). Other salaries and wages came to $3.0m. It paid $48k in professional fundraising fees. At year end it held assets of $70.8m against liabilities of $41.7m, net assets of $29.1m. It reported 49 employees.