Spare Key
- Assets
- $616.2k
- Revenue
- $831.1k
- Investments
- $0.0
- Employees
- 8
- Location
- St Paul, MN
- Founding
- 03/1998
- Data as of
- 12/2021
- EIN
- 41-1888767
Organization Overview
Spare Key is located in St Paul, MN. The organization was established in 1998. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Spare Key employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spare Key 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 12/2021, Spare Key generated $831.1k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $866.6k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SPARE KEY'S MISSION IS TO PROVIDE ASSISTANCE TO FAMILIES WITH A CRITICALLY ILL OR SERIOUSLY INJURED FAMILY MEMBER. NO MATTER THE ILLNESS, NO MATTER THE INJURY, NO MATTER THE INCOME. WE HELP FAMILIES "BOUNCE AND NOT BREAK" THROUGH OUR HELP ME BOUNCE PLATFORM, HARNESSING THE POWER OF CROWDFUNDING TO CONNECT THOUSANDS OF FAMILIES DIRECTLY TO DONORS. WE ARE COMMITTED TO HELPING FAMILIES STAY BY THEIR LOVED ONE'S SIDE BY RELIEVING THE STRESS, ANXIETY AND FINANCIAL BURDEN THAT COMES WITH A MEDICAL CRISIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE 1997, SPARE KEY HAS BEEN HARD AT WORK SERVING FAMILIES WITH HOUSING GRANTS. WE ARE PROUD AND PRIVILEGED TO HAVE BEEN ABLE TO SERVE OVER 4,000 FAMILIES WITH 4 MILLION IN HOUSING GRANTS DURING THAT TIME. OUR MOTTO,"NO MATTER THE ILLNESS. NO MATTER THE INJURY. NO MATTER THE INCOME. WE HELP FAMILIES BOUNCE AND NOT BREAK," HAS BEEN OUR GUIDING FORCE FROM THE FIRST GRANT WE WERE ABLE TO MAKE. THE HELP ME BOUNCE PROGRAM ALLOWS US TO DO JUST THAT. THIS POWERFUL NEW PLATFORM COMBINES CROWDFUNDING WITH SPARE KEY'S DIRECT FINANCIAL SUPPORT TO HELP LEVERAGE SOCIAL MEDIA AND BROADER MARKETING TACTICS TO RAISE MORE FUNDS TO HELP FAMILIES COVER THEIR MOST PRESSING FINANCIAL NEEDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erich Mische Executive Di | OfficerTrustee | 40 | $141,816 |
Jason Haus Treasurer | OfficerTrustee | 1 | $0 |
Cindy Koebele Immediate Pa | OfficerTrustee | 1 | $0 |
Carl Kuhl Secratary | OfficerTrustee | 1 | $0 |
Brooke Lee Member At-La | OfficerTrustee | 1 | $0 |
Wendy Pajor President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $418,285 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $554,532 |
| Noncash contributions included in lines 1a–1f | $24,650 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $972,817 |
| Total Program Service Revenue | $0 |
| Investment income | $115 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$141,939 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $831,090 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $167,941 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $144,360 |
| Compensation of current officers, directors, key employees. | $13,795 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $250,360 |
| Pension plan accruals and contributions | $11,544 |
| Other employee benefits | $20,631 |
| Payroll taxes | $32,390 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $350 |
| Fees for services: Accounting | $24,029 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,707 |
| Advertising and promotion | $104,834 |
| Office expenses | $4,408 |
| Information technology | $9,944 |
| Royalties | $0 |
| Occupancy | $6,461 |
| Travel | $3,108 |
| 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 | $13,265 |
| Insurance | $4,005 |
| All other expenses | $0 |
| Total functional expenses | $866,630 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $581,939 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,032 |
| 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 | $25,291 |
| Net Land, buildings, and equipment | $7,910 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $616,172 |
| Accounts payable and accrued expenses | $3,447 |
| Grants payable | $0 |
| Deferred revenue | $64,790 |
| 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 | $12,621 |
| Total liabilities | $80,858 |
| Net assets without donor restrictions | $530,942 |
| Net assets with donor restrictions | $4,372 |
| 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 | $616,172 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Spare Key has recieved totaling $145,652.
| Awarding Organization | Amount |
|---|---|
The Richard M Schulze Family Foundation Minneapolis, MN PURPOSE: HUMAN SERVICES | $75,000 |
Saint Paul & Minnesota Foundation Saint Paul, MN PURPOSE: MULTIPLE GRANTS FOR MULTIPLE PURPOSES | $17,906 |
Edina Realty Foundation Minneapolis, MN PURPOSE: ASSISTANCE TO THE DISADVANTAGED | $10,500 |
Realogy Charitable Foundation Inc Madison, NJ PURPOSE: General Assistance | $10,385 |
Rice Family Foundation Bainbridge Island, WA PURPOSE: HUMAN SERVICES PROGRAM SUPPORT | $10,000 |
Alta Good Deeds Foundation Washington, DC PURPOSE: GENERAL PROGRAM GRANT | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Spire Credit Union Falcon Heights, MN | $1,948,614,361 | $81,305,193 |
Serveminnesota Minneapolis, MN | $9,195,680 | $42,573,491 |
Arrowhead Economic Opportunity Agency Incorporated Virginia, MN | $33,957,216 | $39,136,123 |
Minnesota Valley Action Council Inc Mankato, MN | $12,018,161 | $29,353,976 |
Tri-Valley Opportunity Council Inc Crookston, MN | $15,068,505 | $26,983,244 |
United Community Action Partnership Inc Marshall, MN | $18,347,423 | $25,415,099 |
Des Moines Performing Arts Des Moines, IA | $53,428,793 | $29,638,099 |
Community Action Of Eastern Iowa Davenport, IA | $4,145,446 | $19,807,458 |
Mahube-Otwa Community Action Partnership Inc Detroit Lakes, MN | $6,691,451 | $20,228,935 |
Upper Des Moines Opportunity Inc Graettinger, IA | $5,376,639 | $17,208,548 |
Community Action Agency Of Siouxland Sioux City, IA | $5,735,581 | $15,017,682 |
Mid-Iowa Community Action -Mica- Incorporated Marshalltown, IA | $3,849,705 | $14,587,976 |