Tip Inc

Analysis

Tip Inc is a registered charity in United States, based in Detroit Lakes, MN. It received its IRS tax-exemption ruling in February 1940, 86 years ago. 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 December 2023, Tip Inc reported income of $81k and spending of $0, leaving 100% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $11k to $81k (+620%), an average of +64% a year. The sharpest change came in the year to December 2020, when income rose by 357%. Over the whole period it spent 0.0% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Tip Inc sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 28th percentile within MN. Charities of a similar size with the same main cause include Tompkins Center Historical Society ($81k), Little League Baseball Inc ($81k) and Northern Area Aquatics Committee ($81k).

At year end it held assets of $719k against liabilities of $79k, net assets of $641k. It reported 46 employees.