The Northwest Minnesota Foundation

Analysis

The Northwest Minnesota Foundation is a registered charity in United States, based in Bemidji, MN. It received its IRS tax-exemption ruling in August 1986, 40 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable 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 June 2023, The Northwest Minnesota Foundation reported income of $7.8m and spending of $8.8m, spending 113% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $9.0m to $7.8m (-13%), an average of -3.4% a year. The sharpest change came in the year to June 2022, when income rose by 69%. Over the whole period it spent 78% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Northwest Minnesota Foundation sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within MN. Charities of a similar size with the same main cause include St Mary of Providence ($7.8m), Young Mens Christian Association of Fanwood-Scotch Plains ($7.8m) and Metropolitan Affordable Housing Corporation ($7.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 79% and program service revenue 9.5% of the total. Other salaries and wages came to $2.1m. At year end it held assets of $96.8m against liabilities of $6.5m, net assets of $90.3m. It reported 31 employees.