Overview
What is Exodus Financial Services?
Exodus Financial Services, operating under the name Exodus Lending, is a nonprofit organization based in Saint Paul, Minnesota. Situated at 2380 WYCLIFF STREET B-100, the organization is committed to aiding Minnesota borrowers escape the trap of predatory debt and journey towards financial stability. They accomplish this by refinancing up to $1,500 of payday and other predatory loan debts for individuals in Minnesota. Exodus Financial Services operates with integrity, charging no interest or fees for their refinancing services. With a dedicated team of seven employees, their mission aligns with providing a just and ethical pathway out of debt, empowering Minnesotans to regain financial stability.
Official website here: www.exoduslending.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star Rating)
Exodus Financial Services has earned an 81% score from Charity Navigator, reflecting a solid performance in accountability and finance. The overall rating is based solely on a single beacon score, with a focus on financial integrity and effective governance. The organization received full marks for having a majority independent board members and for maintaining a transparent approach to its operations.
The nonprofit demonstrates a strong commitment to accountability, scoring notably well in areas such as conflict of interest policies, whistleblower protections, and the proper retention of documents. Additionally, it has a low liabilities to assets ratio of 20.46%, indicating a healthy financial position. Program expenses make up a significant portion of its budget, with a program expense ratio of 78.18%, which suggests that the majority of its funds are directed towards its mission.
While the financial metrics are promising, the single-beacon focus means that other aspects of the organization, such as program effectiveness and impact, are not assessed by the rating. This could limit a comprehensive understanding of the nonprofit's overall performance in fulfilling its mission. Nonetheless, the governance practices displayed by Exodus Financial Services reflect a commitment to transparency and responsibility in managing its resources.
This AI summary has been generated from information found on Charity Navigator.
Is Exodus Financial Services legitimate?
Exodus Financial Services is a legitimate nonprofit organization registered as a 501(c)(3) entity. Exodus Financial Services 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: $104,739
Professional Fundraising Fees: $0
Other Salaries and Wages: $184,353
For more financial information, click here
Official website here: www.exoduslending.org
What is the mission statement of Exodus Financial Services?
Exodus Financial Services, operating under the name Exodus Lending, is committed to aiding individuals trapped in payday loan debt. Their mission is to provide a fair and just escape route from predatory lending, moving these borrowers towards financial stability. They achieve this by refinancing up to $1,500 of payday and predatory loans for eligible individuals. The organization's primary goal is to assist borrowers in escaping the debt trap and regaining financial control.
Official website here: www.exoduslending.org
Who is the CEO of Exodus Financial Services?
Anne Leland Clark is the Treasurer of Exodus Financial Services.
Official website here: www.exoduslending.org
What is the revenue of Exodus Financial Services?
Exodus Financial Services's revenue in 2022 was $583,695.
Official website here: www.exoduslending.org
Who are the executives of Exodus Financial Services and what are their salaries?
The average compensation at Exodus Financial Services during 2022 was $41,299. There are 7 employees and 20 volunteers at Exodus Financial Services.
Here are 16 key members and their salaries:
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- Compensation: $85,881
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- Other: $6,021
- Compensation: $11,442
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- Other: $1,368
Official website here: www.exoduslending.org
Where can I find the form 990 for Exodus Financial Services?
Exodus Financial Services's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.exoduslending.org
Learn more at the official website: www.exoduslending.org
Mission Statement of Exodus Financial Services
Exodus Financial Services, operating under the name Exodus Lending, is committed to offering Minnesotan borrowers a fair and just pathway out of predatory debt and towards financial stability. The organization accomplishes this mission by refinancing up to $1,500 of payday and other predatory loans for Minnesotans, eliminating the interest and fees associated with these debts. By doing so, Exodus Financial Services provides a valuable service to individuals who have been trapped in the cycle of payday loan debt, offering them a chance to regain control of their finances and work towards a more secure financial future.
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Impact
July, 2024
Exodus Financial Services, operating as Exodus Lending, provides a critical service by helping individuals in Minnesota escape the harmful cycle of payday loan debt. By refinancing up to $1,500 of predatory loan debt without charging any interest or fees, Exodus Financial Services is offering these borrowers a lifeline to financial stability. This impactful intervention not only alleviates immediate financial distress but also empowers individuals to regain control of their financial futures.
This information is meant to be a general summary of Exodus Financial Services. 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: $3,015
- Gross Receipts: $590,384
Assets and Liabilities:
- Total Assets: $842,929
- Total Liabilities: $172,500
- Net Assets: $670,429
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Organization Details
Founding Year
2014
Phone
(615) 615-0067Principal Officer
Anne Leland Clark
Main Address
2380 WYCLIFF STREET B-100, SAINT PAUL, MN, 55114
Website
www.exoduslending.orgNTEE Category
Code: P20 - Human services
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