Remnant Foundation

Analysis

Remnant Foundation is a registered charity in United States, based in Forest Lake, MN. It received its IRS tax-exemption ruling in June 2017, 9 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Remnant Foundation reported income of $360k and spending of $379k, spending 105% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $335k to $360k (+7.4%), an average of +1.8% a year. The sharpest change came in the year to June 2021, when income rose by 68%. Over the whole period it spent 71% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Remnant Foundation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 63rd percentile within MN. Charities of a similar size with the same main cause include Casting Nets Ministries Inc ($360k), Joe Oden Ministries Inc ($360k) and Creation Instruction Association Inc ($360k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 56% and program service revenue 41% of the total. At year end it held assets of $506k against liabilities of $0, net assets of $506k.