Financial Education Of Minnesota
- Assets
- $232.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 3
- Location
- St Louis Park, MN
- Founding
- 10/2014
- Data as of
- 12/2022
- EIN
- 45-3838047
Organization Overview
Financial Education Of Minnesota is located in St Louis Park, MN. The organization was established in 2014. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. As of 12/2022, Financial Education Of Minnesota employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Financial Education Of Minnesota 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 12/2022, Financial Education Of Minnesota generated $42.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (11.7%) each year. All expenses for the organization totaled $46.2k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (7.6%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
BUDGETING & CREDIT COUNSELING: FINANCIAL EDUCATION OF MINNESOTA PROVIDES BUDGETING & CREDIT COUNSELING TO GROUPS & INDIVIDUALS. IN 2022 WE TAUGHT 77 GROUP CLASSES & 17 INDIVIDUAL CLASSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Rhodes Chairman | 1 | $0 | |
John Hoffman Vice Chairman | 1 | $0 | |
Rayeann Hoffman Sec/treasurer | 26 | $22,200 | |
Dick Fisher Director | 1 | $0 | |
Joan Molenaar Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $41,227 |
| Membership dues | $0 |
| Investment income | $919 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $42,146 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $26,693 |
| Professional fees and other payments to independent contractors | $725 |
| Occupancy, rent, utilities, and maintenance | $4,440 |
| Printing, publications, postage, and shipping | $132 |
| Other expenses | $13,214 |
| Total expenses | $46,204 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $232,733 |
| Other assets | $0 |
| Total assets | $232,733 |
| Total liabilities | $3,241 |
| Net assets or fund balances | $229,492 |