Luverne Area Community Foundation

Analysis

Luverne Area Community Foundation is a registered charity in United States, based in Luverne, MN. It received its IRS tax-exemption ruling in November 1992, 34 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 2022, Luverne Area Community Foundation reported income of $2.2m and spending of $2.3m, spending 108% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $2.2m to $2.2m (-0.6%), an average of -0.2% a year. The sharpest change came in the year to December 2021, when income rose by 80%. Over the whole period it spent 80% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Luverne Area Community Foundation sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within MN. Charities of a similar size with the same main cause include Brookwood Endowment Fund Inc ($2.2m), Troopsdirect Inc ($2.2m) and Children of the Setting Sun Productions ($2.1m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 87% of the total. Other salaries and wages came to $60k. At year end it held assets of $5.7m against liabilities of $371k, net assets of $5.3m. It reported 3 employees.