Southwest Initiative Foundation

Analysis

Southwest Initiative Foundation is a registered charity in United States, based in Hutchinson, MN. It received its IRS tax-exemption ruling in August 1986, 40 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2023, Southwest Initiative Foundation reported income of $13.3m and spending of $10.3m, leaving 22% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $10.7m to $13.3m (+24%), an average of +7.5% a year. The sharpest change came in the year to June 2022, when income rose by 54%. Over the whole period it spent 73% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Southwest Initiative Foundation sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MN. Charities of a similar size with the same main cause include South Central Missouri Community Action Agency ($13.3m), New York District Council CRPNTRS Apprntcshp Jrnymn Retraing Educa ($13.3m) and Ohio Operating Engineers Apprenticeship Fund ($13.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 82% and program service revenue 5.1% of the total. Compensation of current officers, directors and key employees was $591k (5.7% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $108.2m against liabilities of $10.6m, net assets of $97.6m. It reported 27 employees.