Technical Academies of Minnesota

Analysis

Technical Academies of Minnesota is a registered charity in United States, based in Willmar, MN. It received its IRS tax-exemption ruling in May 2013, 13 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Technical Academies of Minnesota reported income of $2.8m and spending of $2.6m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.0m to $2.8m (+43%), an average of +9.3% a year. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Technical Academies of Minnesota sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within MN. Charities of a similar size with the same main cause include Medical Library Association Inc ($2.8m), Nur Islamic School of Louisville Inc ($2.8m) and Kings Academy Nashville ($2.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $112k (4.4% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $2.3m against liabilities of $2.0m, net assets of $309k. It reported 60 employees.