True North Goodwill Northern Minnesota and Northwestern Wiscons

Analysis

True North Goodwill Northern Minnesota and Northwestern Wiscons is a registered charity in United States, based in Duluth, MN. It received its IRS tax-exemption ruling in March 1968, 58 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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, True North Goodwill Northern Minnesota and Northwestern Wiscons reported income of $14.4m and spending of $14.7m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.5m to $14.4m (+121%), an average of +22% a year. The sharpest change came in the year to June 2021, when income rose by 75%. Over the whole period it spent 94% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, True North Goodwill Northern Minnesota and Northwestern Wiscons sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MN. Charities of a similar size with the same main cause include American Marketing Association Inc ($14.4m), Marshall Project Inc ($14.5m) and Old Spanish Trail-Almeda Corridors Redevelopment Authority ($14.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 45% and program service revenue 53% of the total. Compensation of current officers, directors and key employees was $81k (0.6% of expenses). Other salaries and wages came to $5.1m. At year end it held assets of $12.1m against liabilities of $1.8m, net assets of $10.3m. It reported 401 employees.