Madonna Towers of Rochester Inc

Analysis

Madonna Towers of Rochester Inc is a registered charity in United States, based in Rochester, MN. It received its IRS tax-exemption ruling in March 1946, 80 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 June 2023, Madonna Towers of Rochester Inc reported income of $16.4m and spending of $17.9m, spending 109% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $15.7m to $16.4m (+4.4%), an average of +1.1% a year. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Madonna Towers of Rochester Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within MN. Charities of a similar size with the same main cause include Prevention Point Philadelphia Incorporated ($16.3m), National Ramah Commission Inc ($16.4m) and The Fund for American Studies ($16.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.7% and program service revenue 97% of the total. Other salaries and wages came to $5.7m. At year end it held assets of $25.1m against liabilities of $12.2m, net assets of $12.9m. It reported 307 employees.