Powderhorn Park Neighborhood Association

Analysis

Powderhorn Park Neighborhood Association is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in January 1982, 44 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Powderhorn Park Neighborhood Association reported income of $708k and spending of $504k, leaving 29% of income unspent that year. Across the 4 years on record, from December 2019 to December 2023, income grew from $258k to $708k (+175%), an average of +40% a year. The sharpest change came in the year to December 2023, when income rose by 77%. Over the whole period it spent 89% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Powderhorn Park Neighborhood Association sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 74th percentile within MN. Charities of a similar size with the same main cause include Fulton Economic Development Corporation ($708k), Historic West End Partners Inc ($708k) and Helena Group Foundation ($707k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $73k (15% of expenses). Other salaries and wages came to $170k. At year end it held assets of $352k against liabilities of $29k, net assets of $324k. It reported 3 employees.