Welstores of Minnesota Inc

Analysis

Welstores of Minnesota Inc is a registered charity in United States, based in Buffalo, MN. It received its IRS tax-exemption ruling in June 1985, 41 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Welstores of Minnesota Inc reported income of $402k and spending of $411k, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $468k to $402k (-14%), an average of -3.7% a year. The sharpest change came in the year to December 2021, when income rose by 28%. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Welstores of Minnesota Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 66th percentile within MN. Charities of a similar size with the same main cause include Rains County Fair Association ($402k), Law Enforcement Chaplaincy ($402k) and The Childrens House ($402k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $157k. At year end it held assets of $346k against liabilities of $16k, net assets of $330k. It reported 7 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.