The Loppet Foundation Inc

Analysis

The Loppet Foundation Inc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in November 2003, 23 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 March 2023, The Loppet Foundation Inc reported income of $3.4m and spending of $2.3m, leaving 33% of income unspent that year. Across the 5 years on record, from September 2019 to March 2023, income fell from $3.6m to $3.4m (-6.1%), an average of -1.6% a year. The sharpest change came in the year to September 2022, when income rose by 58%. Over the whole period it spent 80% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, The Loppet Foundation Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within MN. Charities of a similar size with the same main cause include Long Island Swimming ($3.4m), Breckenridge Outdoor Education Center ($3.4m) and Save Mount Diablo ($3.4m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 18% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $58k (2.5% of expenses). Other salaries and wages came to $909k. At year end it held assets of $6.6m against liabilities of $866k, net assets of $5.7m.