Overview
What is Welstores Of Minnesota Inc?
Welstores of Minnesota Inc. is a nonprofit organization situated in Buffalo, Minnesota. Their primary mission is to support other tax-exempt organizations within the community by raising funds through the operation of a thrift store. They sell donated goods, relying on volunteer services to carry out these activities. The revenue generated from these sales contributes to various nonprofit organizations in the region. The organization, with six dedicated employees, operates with the aim of making a positive impact on the community by channeling resources to other worthy causes.
Official website here: www.thewisepenny.com
Is Welstores Of Minnesota Inc legitimate?
Welstores Of Minnesota Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Welstores Of Minnesota Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $157,377
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Official website here: www.thewisepenny.com
What is the mission statement of Welstores Of Minnesota Inc?
Welstores of Minnesota Inc's mission is centered around supporting other tax-exempt organizations. They accomplish this by operating a thrift store, which sells donated goods. This thrift store operates primarily through the use of volunteer services. The proceeds from the sales of these donated items serve as a source of financial support for various nonprofit organizations within the community.
Official website here: www.thewisepenny.com
What is the revenue of Welstores Of Minnesota Inc?
Welstores Of Minnesota Inc's revenue in 2023 was $402,186.
Official website here: www.thewisepenny.com
Who are the executives of Welstores Of Minnesota Inc and what are their salaries?
The average compensation at Welstores Of Minnesota Inc during 2023 was $22,482. There are 7 employees and 178 volunteers at Welstores Of Minnesota Inc.
Here are 8 key members and their salaries:
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Official website here: www.thewisepenny.com
Where can I find the form 990 for Welstores Of Minnesota Inc?
Welstores Of Minnesota Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.thewisepenny.com
Learn more at the official website: www.thewisepenny.com
Mission Statement of Welstores Of Minnesota Inc
Welstores of Minnesota Inc is a mission-driven organization that strives to support other tax-exempt organizations in the community. They achieve this mission by operating a thrift store, which serves as a platform for selling donated goods. The activities at the thrift store are primarily carried out through the volunteer services of dedicated individuals. The proceeds generated from the sales of these donated items are then channeled towards supporting various nonprofit organizations within the community. By operating a thrift store and leveraging volunteer efforts, Welstores of Minnesota Inc plays a crucial role in providing financial assistance to numerous charitable organizations, thereby contributing to the betterment of the community as a whole.
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Impact
October, 2024
Welstores Of Minnesota Inc plays a significant role in the Buffalo community by operating a thrift store that raises funds through the sale of donated goods. This initiative not only provides affordable items to local residents but also supports various tax-exempt organizations in the area. By utilizing volunteer services for store operations, Welstores fosters community engagement and encourages individuals to contribute their time and resources. The funds generated from sales are redirected to assist other organizations, amplifying the impact of each donation and creating a cycle of support that benefits many. Overall, Welstores Of Minnesota Inc enhances community welfare by promoting sustainability, volunteering, and charitable giving.
This information is meant to be a general summary of Welstores Of Minnesota Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $77
- Gross Receipts: $402,186
Assets and Liabilities:
- Total Assets: $342,070
- Total Liabilities: $3,173
- Net Assets: $338,897
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Organization Details
Founding Year
1984
Principal Officer
Mike Tripp
Website
www.thewisepenny.comNTEE Category
Code: Z99Z - Unknown
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