Way to Grow

Analysis

Way to Grow is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in April 2004, 22 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Way to Grow reported income of $10.5m and spending of $3.9m, leaving 63% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.7m to $10.5m (+181%), an average of +29% a year. The sharpest change came in the year to December 2023, when income rose by 141%. Over the whole period it spent 63% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Way to Grow sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within MN. Charities of a similar size with the same main cause include Camp Cole Foundation Inc ($10.5m), Hospice of Hilo ($10.5m) and Pathways for Children Inc ($10.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 3.6% of the total. Compensation of current officers, directors and key employees was $349k (8.9% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $12.7m against liabilities of $967k, net assets of $11.8m. It reported 46 employees.