Residential Services of Northeastern Minnesota Inc

Analysis

Residential Services of Northeastern Minnesota Inc is a registered charity in United States, based in Duluth, MN. It received its IRS tax-exemption ruling in July 1977, 49 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Residential Services of Northeastern Minnesota Inc reported income of $23.4m and spending of $24.7m, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $18.1m to $23.4m (+30%), an average of +6.7% a year. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Residential Services of Northeastern Minnesota Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within MN. Charities of a similar size with the same main cause include Friendship Village of Columbus Ohio Inc ($23.4m), Jewish Community Centers Association of North America ($23.5m) and Louisville Urban League ($23.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.0% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $395k (1.6% of expenses). Other salaries and wages came to $17.2m. At year end it held assets of $12.0m against liabilities of $3.3m, net assets of $8.8m. It reported 735 employees.