Civic Intelligence

Exodus Financial Services

990 • Fiscal year 2020 • EIN 47-1706853

Jan 01, 2020 to Dec 31, 2020 • Filed on May 09, 2021

2380 Wycliff Street No B-100Saint Paul, MN 55114

(615) 615-0067

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

75th percentile

0.30x

Higher debt load relative to assets than 75% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

78th percentile

0.32x

Higher debt load relative to revenue than 78% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

80th percentile

30%

Higher net margin than 80% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

82nd percentile

$83,652

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 15.6% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

86th percentile

67%

Faster asset growth than 86% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

92nd percentile

99%

Faster revenue growth than 92% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Assets

Up

$574,419

Up $230,255 (+67%) from 2019

Net Assets

Up

$404,419

Up $160,255 (+66%) from 2019

Liabilities

Up

$170,000

Up $70,000 (+70%) from 2019

Revenue

Up

$536,309

Up $267,246 (+99%) from 2019

Expenses

Up

$376,054

Up $140,358 (+60%) from 2019

Net Income

Up

$160,255

Up $126,888 (+380%) from 2019

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2017: $172,120Liabilities 2017: $30,0002017Assets 2018: $265,797Liabilities 2018: $55,000Net Assets 2018: $210,7972018Assets 2019: $344,164Liabilities 2019: $100,000Net Assets 2019: $244,1642019Assets 2020: $574,419Liabilities 2020: $170,000Net Assets 2020: $404,4192020Assets 2021: $722,833Liabilities 2021: $172,500Net Assets 2021: $550,3332021Assets 2022: $842,929Liabilities 2022: $172,500Net Assets 2022: $670,4292022Assets 2023: $630,842Liabilities 2023: $204,288Net Assets 2023: $426,5542023Assets 2024: $4,976,089Liabilities 2024: $354,053Net Assets 2024: $4,622,0362024

Highlighted filing

2020

Assets$574,419
Liabilities$170,000
Net Assets$404,419

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2017: $149,907Expenses 2017: $103,240Net Income 2017: $46,6672017Revenue 2018: $222,296Expenses 2018: $150,849Net Income 2018: $71,4472018Revenue 2019: $269,063Expenses 2019: $235,696Net Income 2019: $33,3672019Revenue 2020: $536,309Expenses 2020: $376,054Net Income 2020: $160,2552020Revenue 2021: $464,430Expenses 2021: $318,516Net Income 2021: $145,9142021Revenue 2022: $583,695Expenses 2022: $463,599Net Income 2022: $120,0962022Revenue 2023: $423,454Expenses 2023: $667,329Net Income 2023: -$243,8752023Revenue 2024: $4,988,470Expenses 2024: $765,270Net Income 2024: $4,223,2002024

Highlighted filing

2020

Revenue$536,309
Expenses$376,054
Net Income$160,255
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 9, 2021
Return Version
2020v4.1
Gross Receipts
$538,038
Mission and Program Overview

Mission

Exodus lending is a nonprofit dedicated to helping minnesotans get out of payday loan debt. Our mission is to provide trapped borrowers a just pathway toward financial stability. To achieve this goal, exodus lending pays off payday loans up to $1,500 for program participants and sets up a plan with them to repay only the amount refinanced, adding no interest or fees, over the course of 12 months. The program provides incentives for participants who meet with a financial counselor and/or contribute to a personal savings account.

Exodus financial services (dba exodus lending) refinances payday loan debt for persons caught in the payday loan debt trap, charging no interest or fees.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$145,578$401,128▲ $255,550
Cash and Non-Interest-Bearing Accounts$118,722$114,400▼ $4,322
Other Notes and Loans Receivable, Net$79,864$58,891▼ $20,973
Total Assets$344,164$574,419▲ $230,255
Liabilities
Unsecured Notes Loans Payable$100,000$170,000▲ $70,000
Total Liabilities$100,000$170,000▲ $70,000
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$243,684$404,319▲ $160,635
Net Assets With Donor Restrictions$480$100▼ $380
Total Net Assets Fund Balance$244,164$404,419▲ $160,255
Total Liabilities and Net Assets / Fund Balance$344,164$574,419▲ $230,255
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sara Nelson-pallmeyerExecutive DirectorFT$69,458$14,194$83,652

Board Members and Trustees

NameTitle
Eric HowardPresident
Anne Leland ClarkVice-president
Gary HessDirector
Gene HummelDirector
Melissa JulietteDirector
Sonia PalmerDirector
Tonia BrinstonDirector
Vienna WilsonDirector
Sarah SchoolcraftSecretary
Nick ScheibelTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$536,187
Program Service Revenue
$0
Investment Income
$1,851
Other Revenue
$-1,729
All Other Contributions
$470,478
Change in Net Assets
$160,255
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$217,382
Other Expenses$158,672
Total Fundraising Expense$38,725
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$87,025$9,619$13,711$110,355
Current Officers, Directors, Trustees, and Key Employees$51,897$15,720$16,035$83,652
Payroll Taxes$10,422$1,897$2,229$14,548
Information Technology$10,848$586$1,138$12,572
Other Employee Benefits$6,693$934$1,200$8,827
Occupancy$5,891$926$1,133$7,950
Office Expenses$2,473$413$1,559$4,445
Advertising$2,846--$2,846
Fees for Services Other$1,630$256$314$2,200
Insurance$1,023$161$197$1,381
Fees for Services Accounting-$1,250-$1,250
Other Expenses$806$152$948$948
Interest$152$24$29$205
Travel$100$16$19$135
All Other Expenses--$45$45
Total Functional Expenses$305,375$31,954$38,725$376,054
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$1,729
Fundraising Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Summer Fundraiser$31,748-$1,729-
Total Events$31,748-$1,729$-1,729
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The form will be sent to all board members for review prior to filing.

Form 990, Part VI, Section B, Line 12C

The board discusses any conflicts of interest that individual board members may have and ensures nothing is voted on by a board member with a conflict of interest in the particular issue.

Form 990, Part VI, Section B, Line 15

The executive committee of the board performed an annual review and also compared the executive director's salary with those of other executive directors in minnesota, using the minnesota council of nonprofits information. Officers are not compensated. Other key employees' compensation amounts were based on nonprofit industry standards in minnesota and experience. No review was performed as no other employee, except for the executive director, had been employed for more than one year by the end of 2018.

Form 990, Part VI, Section C, Line 19

Organizational documents are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Exodus Financial Services
EIN
47-1706853
Phone
6156150067
Address
2380 WYCLIFF STREET NO B-100, SAINT PAUL, MN 55114
Doing Business As
Exodus Lending

Signing Officer

Name
Sara Nelson-pallmeyer
Title
Executive Director
Phone
6126150067
Signed
2021-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sara Nelson-pallmeyer
Formed
2014
Legal Domicile
Mn
Voting Board Members
10
Independent Board Members
10
Employees
4
Volunteers
20

Preparer

Firm
Mahoneyulbrichchristiansen & Russ Pa
Address
10 RIVER PARK PLAZA SUITE 800, SAINT PAUL, MN 55107
Preparer
Elizabeth Barchenger
Phone
6512276695
Raw XML AppendixShowing 400 of 434 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OthNotesLoansReceivableNetGrp/EOYAmt058891
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt02229
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01897
IRS990/PayrollTaxesGrp/ProgramServicesAmt010422
IRS990/PayrollTaxesGrp/TotalAmt014548
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0SARA NELSON-PALLMEYER
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0269011
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0501
IRS990/PYOtherExpensesAmt060522
IRS990/PYOtherRevenueAmt0-449
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt033367
IRS990/PYSalariesCompEmpBnftPaidAmt0175174
IRS990/PYTotalExpensesAmt0235696
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0269063
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0160255
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0145578
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0401128
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0536187
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0269011
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0223303
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0149906
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt038813
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01217220
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt01851
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0501
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt02352
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt01074660
IRS990ScheduleA/SubstantialContributorsTotAmt0142560
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0536187
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0269011
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0223303
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0149906
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt038813
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01217220
IRS990ScheduleA/TotalSupportAmt01219572
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd00
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt031748
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt031748
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt01729
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0ANNUAL SUMMER FUNDRAISER
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt031748
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt031748
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-1729
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt01729
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt01729
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM WILL BE SENT TO ALL BOARD MEMBERS FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD DISCUSSES ANY CONFLICTS OF INTEREST THAT INDIVIDUAL BOARD MEMBERS MAY HAVE AND ENSURES NOTHING IS VOTED ON BY A BOARD MEMBER WITH A CONFLICT OF INTEREST IN THE PARTICULAR ISSUE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE COMMITTEE OF THE BOARD PERFORMED AN ANNUAL REVIEW AND ALSO COMPARED THE EXECUTIVE DIRECTOR'S SALARY WITH THOSE OF OTHER EXECUTIVE DIRECTORS IN MINNESOTA, USING THE MINNESOTA COUNCIL OF NONPROFITS INFORMATION. OFFICERS ARE NOT COMPENSATED. OTHER KEY EMPLOYEES' COMPENSATION AMOUNTS WERE BASED ON NONPROFIT INDUSTRY STANDARDS IN MINNESOTA AND EXPERIENCE. NO REVIEW WAS PERFORMED AS NO OTHER EMPLOYEE, EXCEPT FOR THE EXECUTIVE DIRECTOR, HAD BEEN EMPLOYED FOR MORE THAN ONE YEAR BY THE END OF 2018.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ORGANIZATIONAL DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0344164
IRS990/TotalAssetsEOYAmt0574419
IRS990/TotalAssetsGrp/BOYAmt0344164
IRS990/TotalAssetsGrp/EOYAmt0574419
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0536187
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt038725
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt031954
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0305375
IRS990/TotalFunctionalExpensesGrp/TotalAmt0376054
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0100000
IRS990/TotalLiabilitiesEOYAmt0170000
IRS990/TotalLiabilitiesGrp/BOYAmt0100000
IRS990/TotalLiabilitiesGrp/EOYAmt0170000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0244164
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0404419
IRS990/TotalOtherCompensationAmt014194
IRS990/TotalProgramServiceExpensesAmt0305375
IRS990/TotalReportableCompFromOrgAmt069458
IRS990/TotalRevenueGrp/ExclusionAmt0122
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0536309
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt020
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0344164
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0574419
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt019
IRS990/TravelGrp/ManagementAndGeneralAmt016
IRS990/TravelGrp/ProgramServicesAmt0100
IRS990/TravelGrp/TotalAmt0135
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0100000
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0170000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02380 WYCLIFF STREET NO B-100
IRS990/USAddress/CityNm0SAINT PAUL
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055114
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0WWW.EXODUSLENDING.ORG

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