Albert Lea Freeborn County Chamber Foundation

Analysis

Albert Lea Freeborn County Chamber Foundation is a registered charity in United States, based in Albert Lea, MN. It received its IRS tax-exemption ruling in November 1993, 33 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 September 2023, Albert Lea Freeborn County Chamber Foundation reported income of $369k and spending of $77k, leaving 79% of income unspent that year. Across the 2 years on record, from September 2022 to September 2023, income grew from $289k to $369k (+27%), an average of +27% a year. The sharpest change came in the year to September 2023, when income rose by 27%. Over the whole period it spent 20% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Albert Lea Freeborn County Chamber Foundation sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 64th percentile within MN. Charities of a similar size with the same main cause include Iseeyou Foundation Inc ($368k), The Mississippi Partnership for Economic Development Inc ($369k) and One Omaha ($368k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 94% of the total. At year end it held assets of $968k against liabilities of $0, net assets of $968k.