Canvas Health Inc

Analysis

Canvas Health Inc is a registered charity in United States, based in Oakdale, MN. It received its IRS tax-exemption ruling in August 1970, 56 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, Canvas Health Inc reported income of $27.6m and spending of $25.8m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $17.1m to $27.6m (+61%), an average of +13% a year. The sharpest change came in the year to December 2022, when income rose by 38%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Canvas Health Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MN. Charities of a similar size with the same main cause include Riverside Senior Living Center ($27.6m), Second Harvest Food Bank of Northeast Tennessee Inc ($27.6m) and Jewish Foundation for Group Homes ($27.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 27% and program service revenue 69% of the total. Compensation of current officers, directors and key employees was $1.2m (4.5% of expenses). Other salaries and wages came to $16.3m. At year end it held assets of $16.3m against liabilities of $3.8m, net assets of $12.5m. It reported 392 employees.