Minerva Education and Development Foundation

Analysis

Minerva Education and Development Foundation is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in August 1993, 33 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, Minerva Education and Development Foundation reported income of $172k and spending of $66k, leaving 62% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $63k to $172k (+173%), an average of +29% a year. The sharpest change came in the year to December 2023, when income rose by 66%. Over the whole period it spent 58% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Minerva Education and Development Foundation sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 50th percentile within MI. Charities of a similar size with the same main cause include Columbia Valley Housing Association ($172k), Chippewa Falls Main Street Inc ($172k) and Norfolk Innovation Corridor ($172k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $752k against liabilities of $0, net assets of $752k.