Floodwood Services and Training Inc

Analysis

Floodwood Services and Training Inc is a registered charity in United States, based in Floodwood, MN. It received its IRS tax-exemption ruling in July 1977, 49 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, Floodwood Services and Training Inc reported income of $2.1m and spending of $1.7m, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $2.1m (+46%), an average of +9.9% a year. The sharpest change came in the year to December 2023, when income rose by 49%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Floodwood Services and Training Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within MN. Charities of a similar size with the same main cause include Chickasaw Foundation ($2.1m), All Saints Early Learning and Community Care Center Inc ($2.1m) and Westfield Day Care Center Inc ($2.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 34% and program service revenue 64% of the total. Compensation of current officers, directors and key employees was $76k (4.6% of expenses). Other salaries and wages came to $805k. At year end it held assets of $2.8m against liabilities of $495k, net assets of $2.3m. It reported 67 employees.