Cloquet Educational Foundation Inc

Analysis

Cloquet Educational Foundation Inc is a registered charity in United States, based in Cloquet, MN. It received its IRS tax-exemption ruling in May 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 August 2023, Cloquet Educational Foundation Inc reported income of $229k and spending of $218k, spending 95% of its income. Across the 5 years on record, from August 2019 to August 2023, income fell from $247k to $229k (-7.4%), an average of -1.9% a year. The sharpest change came in the year to August 2021, when income rose by 77%. Over the whole period it spent 62% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cloquet Educational Foundation Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 55th percentile within MN. Charities of a similar size with the same main cause include Youngstown Community Food Center Inc ($229k), Spokane Braves Hockey Club ($229k) and Legal Aid Corporation of Tippecanoe County ($229k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 55% of the total. Compensation of current officers, directors and key employees was $49k (23% of expenses). Other salaries and wages came to $22k. At year end it held assets of $2.7m against liabilities of $7,253, net assets of $2.7m. It reported 2 employees.