Special Olympics Minnesota Inc

Analysis

Special Olympics Minnesota Inc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in June 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 December 2023, Special Olympics Minnesota Inc reported income of $9.7m and spending of $9.1m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.6m to $9.7m (+28%), an average of +6.4% a year. The sharpest change came in the year to December 2022, when income rose by 54%. Over the whole period it spent 84% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Special Olympics Minnesota Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within MN. Charities of a similar size with the same main cause include Fletcher Academy Inc ($9.7m), Connection Fund Inc ($9.7m) and Hanahauoli School ($9.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 0.0% of the total. Compensation of current officers, directors and key employees was $376k (4.1% of expenses). Other salaries and wages came to $3.0m. At year end it held assets of $14.5m against liabilities of $3.1m, net assets of $11.4m. It reported 70 employees.