Boreal Development

Analysis

Boreal Development is a registered charity in United States, based in Duluth, MN. It received its IRS tax-exemption ruling in March 2020, 6 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 December 2023, Boreal Development reported income of $160k and spending of $156k, spending 98% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $151k to $160k (+6.2%), an average of +6.2% a year. Over the whole period it spent 96% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Boreal Development sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 46th percentile within MN. Charities of a similar size with the same main cause include Base Camp Village Inc ($160k), Carlsbad Senior Community Corporation ($160k) and Southeast Iowa Housing Inc ($160k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 237% and program service revenue 4.4% of the total. At year end it held assets of $135k against liabilities of $84k, net assets of $51k.