Owatonna Incubator Inc

Analysis

Owatonna Incubator Inc is a registered charity in United States, based in Owatonna, MN. It received its IRS tax-exemption ruling in February 1990, 36 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 December 2023, Owatonna Incubator Inc reported income of $236k and spending of $198k, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $210k to $236k (+12%), an average of +2.9% a year. Over the whole period it spent 75% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Owatonna Incubator Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 56th percentile within MN. Charities of a similar size with the same main cause include Keweenaw Economic Development Alliance ($236k), Main Street Enid Inc ($236k) and Oak Harbor Main Street Association ($236k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 22% and program service revenue 78% of the total. Compensation of current officers, directors and key employees was $33k (17% of expenses). Other salaries and wages came to $6,098. At year end it held assets of $450k against liabilities of $6,789, net assets of $443k. It reported 3 employees.