Centennial Square

Analysis

Centennial Square is a registered charity in United States, based in Willmar, MN. It received its IRS tax-exemption ruling in April 1995, 31 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 September 2023, Centennial Square reported income of $363k and spending of $253k, leaving 30% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $195k to $363k (+86%), an average of +17% a year. The sharpest change came in the year to September 2023, when income rose by 83%. Over the whole period it spent 101% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Centennial Square sits at the 50th percentile: it is larger than about 50% 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 Upper South Street Housing Development Fund Company Inc ($363k), Manteca Senior Housing Corporation ($363k) and Meadows Housing Corporation ($363k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 55% of the total. Other salaries and wages came to $32k. At year end it held assets of $1.2m against liabilities of $19k, net assets of $1.2m.