Midwest Minnesota Community Development Corporation

Analysis

Midwest Minnesota Community Development Corporation is a registered charity in United States, based in Detroit Lakes, MN. It received its IRS tax-exemption ruling in September 1997, 29 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Midwest Minnesota Community Development Corporation reported income of $6.7m and spending of $5.1m, leaving 24% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $9.8m to $6.7m (-31%), an average of -9.0% a year. The sharpest change came in the year to December 2022, when income dropped by 24%. Over the whole period it spent 72% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Midwest Minnesota Community Development Corporation sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within MN. Charities of a similar size with the same main cause include McE Social Capital ($6.7m), Bona Fide Conglomerate Inc ($6.7m) and Reflections of Trinity Inc ($6.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 14% and program service revenue 73% of the total. Compensation of current officers, directors and key employees was $1.6m (31% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $81.4m against liabilities of $5.5m, net assets of $75.9m. It reported 40 employees.