University of Minnesota Alumni Association

Analysis

University of Minnesota Alumni Association is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in February 1966, 60 years ago. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, University of Minnesota Alumni Association reported income of $3.8m and spending of $4.9m, spending 127% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.4m to $3.8m (+13%), an average of +3.1% a year. The sharpest change came in the year to June 2021, when income rose by 48%. Over the whole period it spent 124% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, University of Minnesota Alumni Association sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within MN. Charities of a similar size with the same main cause include Northwest Kansas Area Agency on Aging Inc ($3.8m), Nebraska Lutheran Outdoor Ministries Inc ($3.8m) and Midwestern University Foundation ($3.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 46% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $714k (15% of expenses). Other salaries and wages came to $1.6m. It paid $14k in professional fundraising fees. At year end it held assets of $32.7m against liabilities of $1.3m, net assets of $31.4m. It reported 46 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.