Mnic Building Company

Analysis

Mnic Building Company is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in September 2021, 5 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable 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, Mnic Building Company reported income of $258k and spending of $241k, spending 93% of its income. Across the 2 years on record, from June 2022 to June 2023, income grew from $211k to $258k (+22%), an average of +22% a year. The sharpest change came in the year to June 2023, when income rose by 22%. Over the whole period it spent 120% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mnic Building Company sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 58th percentile within MN. Charities of a similar size with the same main cause include Watkins Area Homes II Inc ($258k), San Gabriel Valley Junior All American Football Conference ($258k) and Providence Business Loan Fund ($258k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 15% and program service revenue 85% of the total. At year end it held assets of $2.5m against liabilities of $2.7m, net assets of -$104k.