Loan Repayment Assistance Program of Minnesota

Analysis

Loan Repayment Assistance Program of Minnesota is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in October 1991, 35 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Loan Repayment Assistance Program of Minnesota reported income of $193k and spending of $159k, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $210k to $193k (-8.3%), an average of -2.2% a year. The sharpest change came in the year to December 2020, when income dropped by 29%. Over the whole period it spent 71% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Loan Repayment Assistance Program of Minnesota 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 53rd percentile, and in the 51st percentile within MN. Charities of a similar size with the same main cause include American Tae Kwon Do United Inc ($193k), Fundacion Dr Carlos Lopez Somolinos Inc ($193k) and Minneapolis Japanese School ($193k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $68k (42% of expenses). Other salaries and wages came to $6,444. At year end it held assets of $768k against liabilities of $19k, net assets of $749k. It reported 1 employees.