Minnetonka Hopkins Gymnastics Association

Analysis

Minnetonka Hopkins Gymnastics Association is a registered charity in United States, based in Plymouth, MN. It received its IRS tax-exemption ruling in November 1976, 50 years ago. 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 August 2023, Minnetonka Hopkins Gymnastics Association reported income of $3.6m and spending of $3.2m, spending 88% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $2.9m to $3.6m (+27%), an average of +6.1% a year. The sharpest change came in the year to August 2021, when income rose by 19%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Minnetonka Hopkins Gymnastics Association sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within MN. Charities of a similar size with the same main cause include Springhaven Inc ($3.6m), Madonna Meadows of Rochester ($3.6m) and The Miller Center Foundation ($3.6m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 0.4% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $125k (3.9% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $5.1m against liabilities of $4.6m, net assets of $548k. It reported 102 employees.