Knute Nelson

Analysis

Knute Nelson is a registered charity in United States, based in Alexandria, MN. It received its IRS tax-exemption ruling in May 2024, 2 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, Knute Nelson reported income of $15.0m and spending of $14.7m, spending 98% of its income. Across the 6 years on record, from September 2019 to December 2023, income fell from $36.5m to $15.0m (-59%), an average of -16% a year. The sharpest change came in the year to December 2023, when income dropped by 76%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Knute Nelson sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MN. Charities of a similar size with the same main cause include Child Care of Southwest Florida Inc ($15.0m), Wayne County Action Program Inc ($15.0m) and The Food Basket Inc ($15.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.4% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $558k (3.8% of expenses). Other salaries and wages came to $7.5m. At year end it held assets of $77.5m against liabilities of $48.5m, net assets of $29.0m. It reported 918 employees.