The Northwest Minnesota Foundation
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 7,618,123 | 7,174,697 | 443,426 | 126.8 | 21% |
| 2021 | 11,498,947 | 9,615,039 | 1,883,908 | 110.7 | 16% |
| 2022 | 19,432,128 | 10,217,253 | 9,214,875 | 99.0 | 17% |
| 2023 | 7,810,635 | 8,791,846 | −981,211 | 123.3 | 24% |
In its most recent public year (2023), this organization spent $981,211 more than it brought in. Its reserves stood at about 123.3 months of spending, down from 126.8 in 2020. Staff pay was 24% of spending. $87,329,676 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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