Fortis Capital

Analysis

Fortis Capital is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in February 2020, 6 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, Fortis Capital reported income of $1.4m and spending of $722k, leaving 48% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $31k to $1.4m (+4379%), an average of +569% a year. The sharpest change came in the year to December 2023, when income rose by 1399%. Over the whole period it spent 55% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Fortis Capital sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 82nd percentile within MN. Charities of a similar size with the same main cause include CV Appalachian Cde Inc ($1.4m), Riley Center ($1.4m) and MSMC Realty Corporation ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 7.6% of the total. Compensation of current officers, directors and key employees was $111k (15% of expenses). At year end it held assets of $3.0m against liabilities of $2.2m, net assets of $751k. It reported 2 employees.