Mankato Area Foundation

Analysis

Mankato Area Foundation is a registered charity in United States, based in Mankato, MN. It received its IRS tax-exemption ruling in September 1975, 51 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 June 2023, Mankato Area Foundation reported income of $5.8m and spending of $4.4m, leaving 24% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.9m to $5.8m (+17%), an average of +4.0% a year. The sharpest change came in the year to June 2022, when income rose by 61%. Over the whole period it spent 57% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mankato Area Foundation sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within MN. Charities of a similar size with the same main cause include Catholic Community Services Inc ($5.8m), The Dawes Arboretum ($5.8m) and Antfarm Inc ($5.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 0.8% of the total. Compensation of current officers, directors and key employees was $297k (6.7% of expenses). Other salaries and wages came to $208k. At year end it held assets of $30.0m against liabilities of $4.1m, net assets of $25.9m. It reported 8 employees.