Possabilities of Southern Minnesota Inc

Analysis

Possabilities of Southern Minnesota Inc is a registered charity in United States, based in Rochester, MN. It received its IRS tax-exemption ruling in August 1967, 59 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 December 2023, Possabilities of Southern Minnesota Inc reported income of $5.2m and spending of $4.7m, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $6.1m to $5.2m (-14%), an average of -3.7% a year. The sharpest change came in the year to December 2022, when income rose by 44%. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Possabilities of Southern Minnesota Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within MN. Charities of a similar size with the same main cause include Bel Air Volunteer Fire Company Inc ($5.2m), Community Action Program for Madison County Inc ($5.2m) and Windsor Independent Living Association Inc ($5.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.5% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $106k (2.2% of expenses). Other salaries and wages came to $3.1m. At year end it held assets of $5.3m against liabilities of $1.0m, net assets of $4.3m. It reported 201 employees.