New Ulm Area Foundation Inc

Analysis

New Ulm Area Foundation Inc is a registered charity in United States, based in New Ulm, MN. It received its IRS tax-exemption ruling in April 2019, 7 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 December 2023, New Ulm Area Foundation Inc reported income of $315k and spending of $261k, spending 83% of its income. Across the 4 years on record, from December 2020 to December 2023, income fell from $436k to $315k (-28%), an average of -10% a year. The sharpest change came in the year to December 2022, when income rose by 351%. Over the whole period it spent 20% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, New Ulm Area Foundation Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 61st percentile within MN. Charities of a similar size with the same main cause include Charitable Foundation of the Grand Lodge of Ohio F & a M ($315k), Friends of Exuma ($315k) and Eddie Aikau Foundation Inc ($315k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% and program service revenue 0.0% of the total. Other salaries and wages came to $18k. At year end it held assets of $3.1m against liabilities of $0, net assets of $3.1m. It reported 1 employees.