The Bakken

Analysis

The Bakken is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in December 1975, 51 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, The Bakken reported income of $1.6m and spending of $3.1m, spending 192% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $14.4m to $1.6m (-89%), an average of -42% a year. The sharpest change came in the year to December 2021, when income rose by 109%. Over the whole period it spent 66% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Bakken sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within MN. Charities of a similar size with the same main cause include Makauila ($1.6m), Vibration Institute ($1.6m) and Creative Waco ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% and program service revenue 40% of the total. Compensation of current officers, directors and key employees was $256k (8.4% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $16.8m against liabilities of $1.1m, net assets of $15.7m. It reported 48 employees.