Minnesota Diversified Industries Inc

Analysis

Minnesota Diversified Industries Inc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in January 1969, 57 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a supporting organisation (type ii) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Minnesota Diversified Industries Inc reported income of $9.1m and spending of $8.8m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.3m to $9.1m (+73%), an average of +15% a year. The sharpest change came in the year to December 2021, when income rose by 36%. Over the whole period it spent 87% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Minnesota Diversified Industries Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MN. Charities of a similar size with the same main cause include Morningside ($9.1m), WBD Inc ($9.1m) and Kaskaskia Workshop Inc ($9.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 7.3% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $1.1m (12% of expenses). Other salaries and wages came to $2.8m. At year end it held assets of $28.8m against liabilities of $12.4m, net assets of $16.4m. It reported 80 employees.