Owatonna Foundation Inc

Analysis

Owatonna Foundation Inc is a registered charity in United States, based in Owatonna, MN. It received its IRS tax-exemption ruling in December 1961, 65 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Owatonna Foundation Inc reported income of $761k and spending of $479k, leaving 37% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $804k to $761k (-5.3%), an average of -1.3% a year. The sharpest change came in the year to December 2020, when income rose by 89%. Over the whole period it spent 41% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Owatonna Foundation Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 75th percentile within MN. Charities of a similar size with the same main cause include International School of Browardincorporated ($761k), Hawkins Project ($761k) and Grace Holistic Education Center NFP ($761k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 70% of the total. Compensation of current officers, directors and key employees was $77k (16% of expenses). At year end it held assets of $10.1m against liabilities of $75k, net assets of $10.0m. It reported 2 employees.