Overview
What is Loan Repayment Assistance Program Of Minnesota Inc?
Loan Repayment Assistance Program of Minnesota Inc., located at 600 NICOLLET MALL 380, Minneapolis, MN 55402, is a nonprofit organization dedicated to aiding public service attorneys. Their mission is to support lawyers working in public service positions by assisting them in repaying their student loans. This assistance is provided through two annual award cycles in the spring and fall. By doing so, the program enables 50 public service attorneys to extend their help to around 10,000 low-income clients, ensuring they can access essential necessities such as food, shelter, and safety.
Official website here: www.lrapmn.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77%, Three-Star out of Four Star rating.
The Loan Repayment Assistance Program of Minnesota Inc has received a 77% rating from Charity Navigator, which reflects strong accountability and financial practices. The organization boasts a fully independent board, which demonstrates a commitment to transparency and governance, earning perfect scores for both the size and independence of its board members.
While the program excels in many areas, such as having no material diversion of assets and a low liabilities to assets ratio, it falls short on its program expense ratio, which stands at 54.07%. This indicates that less than half of its expenditures are directed towards its programs, suggesting potential areas for improvement in resource allocation to maximize impact. Overall, the organization demonstrates solid governance but may need to enhance its efficiency in program spending.
This AI summary has been generated from information found on Charity Navigator.
Is Loan Repayment Assistance Program Of Minnesota Inc legitimate?
Loan Repayment Assistance Program Of Minnesota Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Loan Repayment Assistance Program Of Minnesota Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $59,444
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.lrapmn.org
What is the mission statement of Loan Repayment Assistance Program Of Minnesota Inc?
The Loan Repayment Assistance Program of Minnesota Inc's mission is centered around supporting lawyers in public service positions. This organization offers loan repayment assistance, helping alleviate the financial burden of student loans for these individuals. Each spring and fall, the program awards loans to eligible candidates. By providing this assistance, the Loan Repayment Assistance Program of Minnesota Inc has enabled 50 public service attorneys to aid approximately 10,000 low-income clients, enabling them to secure essential needs such as food, shelter, and safety.
Official website here: www.lrapmn.org
Who is the CEO of Loan Repayment Assistance Program Of Minnesota Inc?
Dee Baskin is the Director of Loan Repayment Assistance Program Of Minnesota Inc.
Official website here: www.lrapmn.org
What is the revenue of Loan Repayment Assistance Program Of Minnesota Inc?
Loan Repayment Assistance Program Of Minnesota Inc's revenue in 2022 was $160,943.
Official website here: www.lrapmn.org
Who are the executives of Loan Repayment Assistance Program Of Minnesota Inc and what are their salaries?
The average compensation at Loan Repayment Assistance Program Of Minnesota Inc during 2022 was $59,444. There is 1 employee at Loan Repayment Assistance Program Of Minnesota Inc.
Here are 17 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $59,442
- Related: $0
- Other: $0
Official website here: www.lrapmn.org
Where can I find the form 990 for Loan Repayment Assistance Program Of Minnesota Inc?
Loan Repayment Assistance Program Of Minnesota Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lrapmn.org
Learn more at the official website: www.lrapmn.org
Mission Statement of Loan Repayment Assistance Program Of Minnesota Inc
Loan Repayment Assistance Program of Minnesota, often referred to as LRAP Minnesota, is a nonprofit organization with a mission to aid lawyers in public service positions by alleviating their student loan burdens. Recognizing the significant role lawyers play in assisting disadvantaged individuals, this program offers loan repayment assistance to eligible candidates twice a year, in the spring and fall. By providing this financial support, LRAP Minnesota enables public service attorneys to dedicate their time and energy to helping a substantial number of low-income clients, ensuring they have access to essential needs such as food, shelter, and safety. The organization's mission underscores its commitment to supporting those who selflessly serve their communities, thereby making a tangible difference in many lives.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
The Loan Repayment Assistance Program of Minnesota Inc significantly enhances the ability of public service attorneys to support low-income clients. By providing crucial financial assistance for education loan repayment, the program enables these attorneys to focus on their mission of serving disadvantaged communities.
In a recent impact analysis, LRAP Minnesota has helped 50 public service attorneys, allowing them to collectively assist approximately 10,000 low-income clients. These clients receive vital support in securing essential needs such as food, shelter, and safety. The assistance not only alleviates the financial burden on attorneys working in public service roles but also amplifies their capacity to deliver legal aid and advocacy to those who might otherwise go unrepresented.
Through its twice-annual awards, the program plays a pivotal role in sustaining a dedicated workforce committed to public interest law, ensuring that justice and legal support remain accessible to vulnerable populations. This ripple effect of support leads to stronger, healthier communities overall, demonstrating the profound impact that effective loan repayment assistance can have on both legal professionals and the clients they serve.
This information is meant to be a general summary of Loan Repayment Assistance Program Of Minnesota Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $18,656
- Gross Receipts: $182,562
Assets and Liabilities:
- Total Assets: $707,073
- Total Liabilities: $19,211
- Net Assets: $687,862
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
1991
Phone
(612) 278-6315Principal Officer
Dee Baskin
Main Address
600 NICOLLET MALL 380, MINNEAPOLIS, MN, 55402
Website
www.lrapmn.orgNTEE Category
Code: B82Z - Education
If you are a representative of Loan Repayment Assistance Program Of Minnesota Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.