Serveminnesota

Analysis

Serveminnesota is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in February 2003, 23 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 August 2023, Serveminnesota reported income of $56.6m and spending of $56.8m, spending 100% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $33.3m to $56.6m (+70%), an average of +14% a year. The sharpest change came in the year to August 2021, when income rose by 30%. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Serveminnesota sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MN. Charities of a similar size with the same main cause include Goodwill Industries of Central Ohio Inc ($56.3m), Goodwill Industries of Delaware & Delaware County Inc ($57.3m) and Marshall University Research Corporation ($56.0m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 96% and program service revenue 4.1% of the total. Compensation of current officers, directors and key employees was $832k (1.5% of expenses). Other salaries and wages came to $2.3m. At year end it held assets of $13.9m against liabilities of $6.6m, net assets of $7.2m. It reported 55 employees.