Grandmas Marathon Duluth Inc

Analysis

Grandmas Marathon Duluth Inc is a registered charity in United States, based in Duluth, MN. It received its IRS tax-exemption ruling in October 1988, 38 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 September 2023, Grandmas Marathon Duluth Inc reported income of $3.5m and spending of $3.4m, spending 97% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $3.0m to $3.5m (+18%), an average of +4.3% a year. The sharpest change came in the year to September 2022, when income rose by 52%. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Grandmas Marathon Duluth Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within MN. Charities of a similar size with the same main cause include Onslow Community Outreach Inc ($3.5m), Habitat for Humanity International Inc ($3.5m) and Clarendon Foundation ($3.5m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 9.0% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $148k (4.3% of expenses). Other salaries and wages came to $663k. At year end it held assets of $4.6m against liabilities of $213k, net assets of $4.4m. It reported 45 employees.