Granite Charitable

Analysis

Granite Charitable is a registered charity in United States, based in Saint Cloud, MN. It received its IRS tax-exemption ruling in September 2019, 7 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Granite Charitable reported income of $6.9m and spending of $958k, leaving 86% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $6.0m to $6.9m (+14%), an average of +4.6% a year. The sharpest change came in the year to June 2022, when income rose by 46%. Over the whole period it spent 5.8% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Granite Charitable sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MN. Charities of a similar size with the same main cause include SD Foundation ($6.9m), United Way of Northwest Georgia Inc ($6.9m) and Community Foundation of West Texas ($6.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 86% of the total. At year end it held assets of $39.2m against liabilities of $0, net assets of $39.2m.