Minneapolis Sailing Center

Analysis

Minneapolis Sailing Center is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in March 1992, 34 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Minneapolis Sailing Center reported income of $715k and spending of $722k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $467k to $715k (+53%), an average of +11% a year. The sharpest change came in the year to December 2021, when income rose by 24%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Minneapolis Sailing Center sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 74th percentile within MN. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($715k), Silverton San Juan County Ambulance Association Inc ($715k) and Boise Christian Homes Inc ($715k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 7.0% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $96k (13% of expenses). Other salaries and wages came to $369k. At year end it held assets of $404k against liabilities of $5,693, net assets of $398k. It reported 52 employees.