Wonderful Foundations

Analysis

Wonderful Foundations is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in September 2019, 7 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a private non-operating foundation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Wonderful Foundations reported income of $22.9m and spending of $28.3m, spending 123% of what it took in. Across the 3 years on record, from December 2020 to December 2022, income grew from $5.7m to $22.9m (+299%), an average of +100% a year. The sharpest change came in the year to December 2021, when income rose by 219%. Over the whole period it spent 122% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Wonderful Foundations sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within MN. Charities of a similar size with the same main cause include Metairie Park Country Day School ($22.9m), Aspiras Bilingual Cyber Charter School ($22.9m) and Instruction Partners ($22.9m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 0.1% and program service revenue 96% of the total. At year end it held assets of $322.6m against liabilities of $333.9m, net assets of -$11.3m.

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.