Minerva University

Analysis

Minerva University is a registered charity in United States, based in San Francisco, CA. It received its IRS tax-exemption ruling in July 2015, 11 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, Minerva University reported income of $49.8m and spending of $32.0m, leaving 36% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income fell from $54.2m to $49.8m (-8.1%), an average of -2.8% a year. The sharpest change came in the year to June 2022, when income rose by 108%. Over the whole period it spent 72% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Minerva University sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within CA. Charities of a similar size with the same main cause include Covenant College Inc ($49.7m), Ole Miss Athletics Foundation ($49.8m) and Mary C Wheeler School Inc ($49.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 66% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $2.1m (6.6% of expenses). Other salaries and wages came to $11.6m. At year end it held assets of $57.5m against liabilities of $32.6m, net assets of $24.9m. It reported 593 employees.