Charity Inc
- Assets
- $7.2m
- Revenue
- $400.7k
- Investments
- $7.0m
- Employees
- 0
- Location
- Aitkin, MN
- Founding
- 12/1964
- Data as of
- 12/2023
- EIN
- 41-0636273
Organization Overview
Charity Inc is located in Aitkin, MN. The organization was established in 1964. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Charity Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Charity Inc generated $400.7k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $570.6k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Charity Inc has awarded 15 individual grants totaling $1,980,740. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joannne Elwell Pres./secy. | 0 | $20,000 | |
Bonita Brenny Vice Preside | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $765 |
| Dividends & Interest | $148,082 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $251,812 |
| Capital Gain Net Income | $251,812 |
| Net ST Capital Gain | $47,472 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $400,659 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $20,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9,822 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $30 |
| Total operating and administrative expenses | $185,966 |
| Contributions, gifts, grants paid | $384,683 |
| Total expenses and disbursements | $570,649 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $41,913 |
| Savings and temporary cash investments | $168,691 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,229,948 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Charity Inc has awarded $384,683 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
RELIGIOUS ORGANIZATIONS(SCH ATTACH) PURPOSE: SUPPORT | $295,333 |
SCHOOLS & COLLEGES (SCH ATTACHED) PURPOSE: SUPPORT | $25,000 |
PUBLIC CHARITIES (SCH ATTACHED) PURPOSE: SUPPORT | $64,350 |