Northshore Business Enterprise Center Inc

Analysis

Northshore Business Enterprise Center Inc is a registered charity in United States, based in Two Harbors, MN. It received its IRS tax-exemption ruling in December 1996, 30 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Northshore Business Enterprise Center Inc reported income of $94k and spending of $129k, spending 137% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $368k to $94k (-74%), an average of -29% a year. The sharpest change came in the year to December 2020, when income dropped by 70%. Over the whole period it spent 120% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Northshore Business Enterprise Center Inc sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 33rd percentile within MN. Charities of a similar size with the same main cause include Whitman Council Nac ($94k), Immigrant Resource Center of Miami Inc ($94k) and Florida Lake Management Society Chapter of Naims ($94k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 96% of the total. At year end it held assets of $741k against liabilities of $0, net assets of $741k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.