Service Enterprises Inc of Minnesota

Analysis

Service Enterprises Inc of Minnesota is a registered charity in United States, based in Redwood Falls, MN. It received its IRS tax-exemption ruling in June 1972, 54 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 (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, Service Enterprises Inc of Minnesota reported income of $974k and spending of $903k, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $958k to $974k (+1.7%), an average of +0.4% a year. The sharpest change came in the year to December 2021, when income rose by 62%. 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, Service Enterprises Inc of Minnesota sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 78th percentile within MN. Charities of a similar size with the same main cause include Texas Rural Funders ($973k), West Marion Inc ($975k) and Crossett Economic Development Foundation ($973k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.2% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $68k (7.6% of expenses). Other salaries and wages came to $434k. At year end it held assets of $1.8m against liabilities of $261k, net assets of $1.5m. It reported 59 employees.