Southeastern Minnesota Private Industry Council Inc

Analysis

Southeastern Minnesota Private Industry Council Inc is a registered charity in United States, based in Rochester, MN. It received its IRS tax-exemption ruling in February 1985, 41 years ago. Its declared purposes cover employment, 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 June 2023, Southeastern Minnesota Private Industry Council Inc reported income of $10.9m and spending of $10.7m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $7.2m to $10.9m (+51%), an average of +11% a year. The sharpest change came in the year to June 2022, when income rose by 28%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Southeastern Minnesota Private Industry Council Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within MN. Charities of a similar size with the same main cause include Rocky Mountain Development Council Inc ($10.8m), The Mayors Fund to Advance New York City ($10.9m) and Downtown Cleveland Alliance ($10.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $452k (4.2% of expenses). Other salaries and wages came to $5.0m. At year end it held assets of $2.0m against liabilities of $1.6m, net assets of $374k. It reported 258 employees.