Minneapolis College of Art & Design

Analysis

Minneapolis College of Art & Design is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in June 1988, 38 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Minneapolis College of Art & Design reported income of $36.1m and spending of $42.7m, spending 118% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income fell from $36.9m to $36.1m (-2.2%), an average of -0.6% a year. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Minneapolis College of Art & Design sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MN. Charities of a similar size with the same main cause include Thomas Aquinas College ($36.1m), Chowan University ($36.1m) and Centeral Flordia Clinical Practice Organization Inc ($36.1m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 6.0% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $569k (1.3% of expenses). Other salaries and wages came to $13.4m. At year end it held assets of $86.9m against liabilities of $12.2m, net assets of $74.7m. It reported 832 employees.