Exodus Financial Services

“In may 2022 the organization hired a director of lending and programs who is the ex-spouse of a current board member and they share custody of a child.”

“The form 990 is sent vial email to all board members for review prior to filing. The board's finance and executive committees are required to complete a thorough review and discuss at their respective committees before a final discussion at a bi-monthly board meeting.”

“The board discusses any conflitcs of interest that individual board members may have annually, usually before or at the annual board retreat and ensures nothing is voted on by a board member with a conflict of interest in the particular issue. All new board members must review and complete the conflict of interest form before beginning their service.”

“Members of the executive commitee of the board performs an annual review and also compared the executive director's salary with those of other executive directors in minnesota, using the minnesota council of nonprofit's "minnesota nonprofit salary & benefits survey." any change in compensation is brought to and approved by the full board for a vote. Officers are not compensated. Other key employees' compensation amounts were based on nonprofit industry standards in minnesota and experience. Annual performance reviews were performed by the executive director on or near the date of their work anniversaries.”

“Organizational documents are available to the public upon request.”

“In may 2022 the organization hired a director of lending and programs who is the ex-spouse of a current board member and they share custody of a child.”

“In january 2023, exodus lending piloted the resiliency loan program which was an upstream, "anti-payday" resiliency loan to address the gap in credit access by offering a 0% interest personal loan in low income communities through a network of trusted nonprofit partners. In the first three months of the year, we provided over $32,000 in resiliency loans to 28 participants through partnerships with community organizations. We are taking our learnings from this pilot to reassess and relaunch the resiliency loan in spring 2024.”

“Contract services: program service expenses 76,318. Management and general expenses 15,720. Fundraising expenses 0. Total expenses 92,038. Marketing: program service expenses 1,234. Management and general expenses 0. Fundraising expenses 118. Total expenses 1,352. Miscellaneous: program service expenses 0. Management and general expenses 98. Fundraising expenses 546. Total expenses 644.”

“The organization had an audit for the first time in 2023. The board selected the auditor and reviewed the audit when completed before it was finalized.”