Functional Industries Inc

Analysis

Functional Industries Inc is a registered charity in United States, based in Buffalo, MN. It received its IRS tax-exemption ruling in March 1974, 52 years ago. 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 June 2023, Functional Industries Inc reported income of $4.9m and spending of $5.0m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $6.2m to $4.9m (-21%), an average of -5.8% a year. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Functional Industries Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 91st percentile within MN. Charities of a similar size with the same main cause include Student Assistance Foundation of Montana ($4.9m), Bracken Christian School of Bulverde ($4.9m) and Sos Childrens Villages Florida Inc ($4.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 19% and program service revenue 80% of the total. Other salaries and wages came to $2.5m. At year end it held assets of $12.2m against liabilities of $300k, net assets of $11.9m. It reported 306 employees.