Ritecare Of Minneapolis-St Paul Inc
- Assets
- $786.1k
- Revenue
- $216.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 01/2004
- Data as of
- 06/2024
- EIN
- 20-0282125
Organization Overview
Ritecare Of Minneapolis-St Paul Inc is located in Minneapolis, MN. The organization was established in 2004. According to its NTEE Classification (B92) the organization is classified as: Remedial Reading & Encouragement, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ritecare Of Minneapolis-St Paul 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 06/2024, Ritecare Of Minneapolis-St Paul Inc generated $216.9k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $175.8k during the year ending 06/2024. While expenses have increased by 4.6% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
ENDEAVOR TO GIVE CHILDREN WITH SPEECH AND LANGUAGE DISORDERS THE OPPORTUNITY TO REACH THEIR FULL POTENTIAL BY PROVIDING FINANCIAL GRANTS FOR TREATMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANICAL GRANTS PROVIDED FOR PRIVATE SPEECH THERAPY SERVICES IN WHICH RITECARE WILL PAY COSTS NOT COVERED BY INSURANCE COMPANIES WITH GRANTS OF UP TO $7,500 PER CHILD FOR TWO YEARS OF SPEECH THERAPY. RITECARE MAKES THE DISBURSEMENTS TO THE PROVIDERS AS SERVICES ARE PERFORMED. GRANTS WERE GIVEN TO NINETY-SIX CHILDREN THIS YEAR. THERAPY WAS PROVIDED BY TWENTY-FOUR DIFFERENT THERAPY PROVIDERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shawn Hunter President | OfficerTrustee | 5 | $0 |
Roger Schmid Vice President | OfficerTrustee | 3 | $0 |
Gregory B Arnott Former Treasurer Through 12/2023 | OfficerTrustee | 8 | $0 |
Becky Byrn-Schmid Former Secretary Through 12/2023 | OfficerTrustee | 3 | $0 |
John Antl Board Member | Trustee | 3 | $0 |
Lloyd Cheney Former Board Member Through 12/2023 | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $25,700 |
| Related organizations | $77,333 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $49,287 |
| Noncash contributions included in lines 1a–1f | $1,234 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $152,320 |
| Total Program Service Revenue | $0 |
| Investment income | $11,758 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $50,180 |
| Net Gain/Loss on Asset Sales | $4,711 |
| Net Income from Fundraising Events | -$2,099 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $216,870 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $142,553 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $28,600 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,594 |
| Information technology | $2,299 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $714 |
| All other expenses | $0 |
| Total functional expenses | $175,760 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $58,744 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,669 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $214,653 |
| Investments—publicly traded securities | $497,985 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,075 |
| Total assets | $786,126 |
| Accounts payable and accrued expenses | $4,965 |
| Grants payable | $0 |
| Deferred revenue | $8,561 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,000 |
| Total liabilities | $23,526 |
| Net assets without donor restrictions | $762,600 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $786,126 |