Minnesota Academy of Science

Analysis

Minnesota Academy of Science is a registered charity in United States, based in Saint Paul, MN. It received its IRS tax-exemption ruling in May 1945, 81 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Minnesota Academy of Science reported income of $379k and spending of $532k, spending 140% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $301k to $379k (+26%), an average of +8.0% a year. The sharpest change came in the year to June 2022, when income rose by 78%. Over the whole period it spent 109% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Minnesota Academy of Science sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 64th percentile within MN. Charities of a similar size with the same main cause include Hatfield Volunteer Fire Company 1 of Hatfield Pa ($379k), Memorial Apartments Corporation ($379k) and Ministerio Internacional LA Senda Inc ($379k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 90% and program service revenue 9.7% of the total. Compensation of current officers, directors and key employees was $85k (16% of expenses). Other salaries and wages came to $193k. At year end it held assets of $112k against liabilities of $19k, net assets of $93k. It reported 6 employees.