Community Aid of Elk River

Analysis

Community Aid of Elk River is a registered charity in United States, based in Elk River, MN. It received its IRS tax-exemption ruling in April 1987, 39 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, Community Aid of Elk River reported income of $2.6m and spending of $2.6m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $2.6m (+85%), an average of +17% a year. The sharpest change came in the year to December 2020, when income rose by 53%. Over the whole period it spent 91% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Community Aid of Elk River sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 87th percentile within MN. Charities of a similar size with the same main cause include Newbridge Madison Inc ($2.6m), Children of Promise Inc ($2.6m) and Secured Futures Inc ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% of the total. Compensation of current officers, directors and key employees was $65k (2.5% of expenses). Other salaries and wages came to $184k. At year end it held assets of $1.5m against liabilities of $18k, net assets of $1.5m. It reported 10 employees.