Wells Memorial Incorporated

Analysis

Wells Memorial Incorporated is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in May 1926, 100 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2024, Wells Memorial Incorporated reported income of $144k and spending of $135k, spending 94% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $90k to $144k (+60%), an average of +12% a year. The sharpest change came in the year to June 2024, when income rose by 38%. Over the whole period it spent 120% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Wells Memorial Incorporated sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 44th percentile within MN. Charities of a similar size with the same main cause include Samantha C Smith Charitable Foundation ($144k), Lucy Fernandez Foundation Inc ($144k) and Book Drive for Kids ($144k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 51% of the total. At year end it held assets of $1.9m against liabilities of $0, net assets of $1.9m.