Banyan Foundation

Analysis

Banyan Foundation is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in May 1999, 27 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2024, Banyan Foundation reported income of $2.3m and spending of $2.5m, spending 108% of what it took in. Across the 6 years on record, from December 2019 to July 2024, income grew from $1.8m to $2.3m (+30%), an average of +5.4% a year. The sharpest change came in the year to December 2022, when income rose by 272%. Over the whole period it spent 72% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Banyan Foundation sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within MN. Charities of a similar size with the same main cause include Ralston House ($2.3m), Nonprofit Association of Oregon ($2.3m) and Health Cubed Inc ($2.3m).

On its Form 990 for the period ending July 2024, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $131k (5.3% of expenses). Other salaries and wages came to $1.1m. It paid $26k in professional fundraising fees. At year end it held assets of $6.4m against liabilities of $74k, net assets of $6.3m. It reported 39 employees.