The Minnesota Daily

Analysis

The Minnesota Daily is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in March 1990, 36 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, The Minnesota Daily reported income of $1.1m and spending of $1.1m, spending 107% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $1.2m to $1.1m (-9.6%), an average of -2.5% a year. The sharpest change came in the year to August 2021, when income rose by 25%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Minnesota Daily sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within MN. Charities of a similar size with the same main cause include S S C Progression Corp ($1.1m), Cullman Caring for Kids Inc ($1.1m) and Arc of Harrisonburg and Rockingham Inc ($1.1m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 0.3% and program service revenue 101% of the total. Compensation of current officers, directors and key employees was $176k (16% of expenses). Other salaries and wages came to $304k. At year end it held assets of $1.0m against liabilities of $162k, net assets of $859k. It reported 130 employees.