Reach for Resources Inc

Analysis

Reach for Resources Inc is a registered charity in United States, based in Edina, MN. It received its IRS tax-exemption ruling in January 1986, 40 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 December 2023, Reach for Resources Inc reported income of $4.0m and spending of $4.1m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.7m to $4.0m (+51%), an average of +11% a year. The sharpest change came in the year to December 2023, when income rose by 37%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Reach for Resources Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within MN. Charities of a similar size with the same main cause include Rio Grande School ($4.0m), South Eastern Idaho Community ($4.0m) and Wilmington Institute Free Library ($4.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 7.7% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $207k (5.1% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $1.9m against liabilities of $680k, net assets of $1.2m. It reported 130 employees.