Chrestomathy Inc

Analysis

Chrestomathy Inc is a registered charity in United States, based in Eden Prairie, MN. It received its IRS tax-exemption ruling in January 1988, 38 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Chrestomathy Inc reported income of $3.8m and spending of $4.3m, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $5.3m to $3.8m (-29%), an average of -8.2% a year. The sharpest change came in the year to December 2020, when income dropped by 28%. Over the whole period it spent 103% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Chrestomathy Inc sits at the 89th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within MN. Charities of a similar size with the same main cause include Leaders Industries ($3.8m), Free & Accepted Masons of Georgia ($3.8m) and Great Falls Rescue Mission ($3.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.7% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $138k (3.2% of expenses). Other salaries and wages came to $2.4m. At year end it held assets of $2.5m against liabilities of $809k, net assets of $1.7m. It reported 115 employees.