Faribault Area Training and Education Foundation

Analysis

Faribault Area Training and Education Foundation is a registered charity in United States, based in Faribault, MN. It received its IRS tax-exemption ruling in August 1983, 43 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 June 2023, Faribault Area Training and Education Foundation reported income of $180k and spending of $258k, spending 143% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $390k to $180k (-54%), an average of -18% a year. The sharpest change came in the year to June 2020, when income rose by 55%. Over the whole period it spent 67% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Faribault Area Training and Education Foundation sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 50th percentile within MN. Charities of a similar size with the same main cause include Batesville Community Theatre ($180k), Franson-Risberg Memorial Mission ($180k) and Early Music Now Inc ($180k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 53% of the total. Compensation of current officers, directors and key employees was $83k (32% of expenses). At year end it held assets of $3.3m against liabilities of $192k, net assets of $3.1m. It reported 1 employees.