Healthy Minds Innovations Inc

Analysis

Healthy Minds Innovations Inc is a registered charity in United States, based in Madison, WI. It received its IRS tax-exemption ruling in February 2016, 10 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, Healthy Minds Innovations Inc reported income of $5.0m and spending of $5.1m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $5.5m to $5.0m (-8.7%), an average of -2.3% a year. The sharpest change came in the year to June 2021, when income dropped by 33%. 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, Healthy Minds Innovations Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within WI. Charities of a similar size with the same main cause include Good Fellowship Club of Chester County Inc ($5.0m), Harlem Congregations for Community Improvement Inc ($5.0m) and Family Solutions ($5.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 73% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $167k (3.3% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $3.2m against liabilities of $875k, net assets of $2.4m. It reported 36 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.