Trust Inc

Analysis

Trust Inc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in November 1974, 52 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Trust Inc reported income of $434k and spending of $511k, spending 118% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income grew from $378k to $434k (+15%), an average of +2.8% a year. The sharpest change came in the year to December 2021, when income rose by 20%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Trust Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 67th percentile within MN. Charities of a similar size with the same main cause include Garden Grove 1st Preschool Incorporated ($434k), Ray of Light Farm Inc ($434k) and Autauga Interfaith Care Center ($434k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 33% and program service revenue 68% of the total. Compensation of current officers, directors and key employees was $86k (17% of expenses). Other salaries and wages came to $124k. At year end it held assets of $157k against liabilities of $20k, net assets of $137k. It reported 7 employees.