Financial Education of Minnesota

Analysis

Financial Education of Minnesota is a registered charity in United States, based in St Louis Park, MN. It received its IRS tax-exemption ruling in October 2014, 12 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Financial Education of Minnesota reported income of $57k and spending of $51k, spending 90% of its income. Across the 3 years on record, from December 2019 to December 2023, income fell from $156k to $57k (-63%), an average of -39% a year. The sharpest change came in the year to December 2022, when income dropped by 73%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Financial Education of Minnesota sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 19th percentile within MN. Charities of a similar size with the same main cause include Distributing Dignity Inc ($57k), Appalachian Family Outreach Inc ($58k) and LA Verne & San Dimas Meals on Wheels ($57k).

On its Form 990-EZ for the period ending December 2023, revenue came from program service revenue 97% of the total. At year end it held assets of $239k against liabilities of $3,374, net assets of $235k.