Parachute Foundation

Analysis

Parachute Foundation is a registered charity in United States, based in Minnetonka, MN. It received its IRS tax-exemption ruling in May 2022, 4 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 December 2023, Parachute Foundation reported income of $217k and spending of $229k, spending 106% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $241k to $217k (-9.9%), an average of -5.1% a year. The sharpest change came in the year to December 2023, when income dropped by 22%. Over the whole period it spent 95% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Parachute Foundation sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 54th percentile within MN. Charities of a similar size with the same main cause include Upmc ($217k), Erle and Emma White Hospice Endowment TR ($217k) and Free Clinic of Pierce and St Croixcounties Inc ($217k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 35% of the total. Compensation of current officers, directors and key employees was $26k (12% of expenses). At year end it held assets of $42k against liabilities of $0, net assets of $42k.