Education Foundation of Bloomington

Analysis

Education Foundation of Bloomington is a registered charity in United States, based in Bloomington, MN. It received its IRS tax-exemption ruling in May 1988, 38 years ago. 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 June 2023, Education Foundation of Bloomington reported income of $166k and spending of $177k, spending 106% of what it took in. Across the 3 years on record, from June 2021 to June 2023, income fell from $1.6m to $166k (-90%), an average of -68% a year. The sharpest change came in the year to June 2022, when income dropped by 87%. Over the whole period it spent 26% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Education Foundation of Bloomington sits at the 49th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 48th percentile within MN. Charities of a similar size with the same main cause include Stroud Township Volunteer Fire Department Relief Association ($166k), Fields 4 Valor Farms Inc ($166k) and Cats Commitment and Tender Loving Service ($166k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 67% of the total. At year end it held assets of $1.8m against liabilities of $0, net assets of $1.8m.