Waseca Area Foundation

Analysis

Waseca Area Foundation is a registered charity in United States, based in Waseca, MN. It received its IRS tax-exemption ruling in November 2020, 6 years ago. 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, Waseca Area Foundation reported income of $453k and spending of $619k, spending 136% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $313k to $453k (+45%), an average of +45% a year. The sharpest change came in the year to December 2023, when income rose by 45%. Over the whole period it spent 121% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Waseca Area Foundation sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 68th percentile within MN. Charities of a similar size with the same main cause include Richard Telinde Trust ($453k), Washington State Patrol Memorial Foundation ($453k) and West Valley Mavericks Foundation Inc ($453k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 10% of the total. Compensation of current officers, directors and key employees was $34k (5.5% of expenses). Other salaries and wages came to $3,852. At year end it held assets of $147k against liabilities of $218k, net assets of -$71k. It reported 2 employees.