Benton Economic Partnership Inc

Analysis

Benton Economic Partnership Inc is a registered charity in United States, based in Foley, MN. It received its IRS tax-exemption ruling in July 2017, 9 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Benton Economic Partnership Inc reported income of $340k and spending of $223k, leaving 35% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $201k to $340k (+69%), an average of +69% a year. The sharpest change came in the year to December 2023, when income rose by 69%. Over the whole period it spent 80% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Benton Economic Partnership Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 63rd percentile within MN. Charities of a similar size with the same main cause include Market Project Inc ($340k), Automotive Mentoring Group Inc ($340k) and The Rotary Club of Cadiz Kentucky Incorporated ($340k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $139k (63% of expenses). Other salaries and wages came to $14k. At year end it held assets of $290k against liabilities of $4,396, net assets of $286k. It reported 3 employees.