The Ely Community Resource Inc

Analysis

The Ely Community Resource Inc is a registered charity in United States, based in Ely, MN. It received its IRS tax-exemption ruling in March 1980, 46 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, The Ely Community Resource Inc reported income of $332k and spending of $351k, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $238k to $332k (+39%), an average of +8.7% a year. The sharpest change came in the year to December 2022, when income rose by 35%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Ely Community Resource Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 62nd percentile within MN. Charities of a similar size with the same main cause include Columbia Chamber Orchestra of Howard County ($332k), Areawide Business Council Incorporated ($332k) and Wiregrass Christian Youth Camp Inc ($332k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% of the total. Compensation of current officers, directors and key employees was $61k (17% of expenses). Other salaries and wages came to $206k. At year end it held assets of $141k against liabilities of $7,460, net assets of $134k. It reported 23 employees.