Arrowhead Economic Opportunity Agency Incorporated

Analysis

Arrowhead Economic Opportunity Agency Incorporated is a registered charity in United States, based in Virginia, MN. It received its IRS tax-exemption ruling in July 1966, 60 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 June 2023, Arrowhead Economic Opportunity Agency Incorporated reported income of $47.1m and spending of $43.1m, spending 92% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $38.2m to $47.1m (+23%), an average of +5.3% a year. The sharpest change came in the year to June 2023, when income rose by 20%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Arrowhead Economic Opportunity Agency Incorporated 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 Access Foster Care and Adoption ($47.1m), Partnerships to Uplift Communities Valley ($47.1m) and The University Corporation ($47.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 77% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $1.2m (2.8% of expenses). Other salaries and wages came to $15.2m. At year end it held assets of $34.7m against liabilities of $10.5m, net assets of $24.2m. It reported 560 employees.