Nicollet Meadows Housing Group

Analysis

Nicollet Meadows Housing Group is a registered charity in United States, based in Slayton, MN. It received its IRS tax-exemption ruling in February 2002, 24 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Nicollet Meadows Housing Group reported income of $1.1m and spending of $1.3m, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1000k to $1.1m (+15%), an average of +3.5% a year. Over the whole period it spent 127% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Nicollet Meadows Housing Group sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within MN. Charities of a similar size with the same main cause include Encino Terrace Inc ($1.1m), Kings Manor Methodist Retirement System Inc ($1.1m) and Mt Carmel Redevelopment Corporation Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. At year end it held assets of $7.6m against liabilities of $9.2m, net assets of -$1.6m.

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.