Governmental and Educational Assistance Corporation

Analysis

Governmental and Educational Assistance Corporation is a registered charity in United States, based in Champlin, MN. It received its IRS tax-exemption ruling in September 1998, 28 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Governmental and Educational Assistance Corporation reported income of $38.7m and spending of $36.6m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $34.0m to $38.7m (+14%), an average of +3.3% a year. Over the whole period it spent 92% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Governmental and Educational Assistance Corporation sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MN. Charities of a similar size with the same main cause include Cda Housing Inc ($38.6m), Habitat for Humanity International Inc ($38.7m) and Kahala Senior Living Community Inc ($38.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.0% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $1.3m (3.6% of expenses). Other salaries and wages came to $15.3m. At year end it held assets of $70.4m against liabilities of $65.5m, net assets of $4.9m. It reported 888 employees.