Pinewood-Cloquet Inc

Analysis

Pinewood-Cloquet Inc is a registered charity in United States, based in Cloquet, MN. It received its IRS tax-exemption ruling in September 1965, 61 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Pinewood-Cloquet Inc reported income of $1.9m and spending of $1.0m, leaving 46% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $1.9m (+28%), an average of +6.3% a year. The sharpest change came in the year to December 2021, when income rose by 63%. Over the whole period it spent 73% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Pinewood-Cloquet Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within MN. Charities of a similar size with the same main cause include Bank Board Small Savers ($1.9m), Early Childhood Center Inc of West Market United Methodist Church ($1.9m) and Women Together Foundation Inc ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 44% and program service revenue 55% of the total. Compensation of current officers, directors and key employees was $47k (4.6% of expenses). Other salaries and wages came to $644k. At year end it held assets of $2.6m against liabilities of $255k, net assets of $2.3m. It reported 44 employees.