2025-08-21T15:33:27-05:00 2024-12-31 411647057 MAHONEY ULBRICH CHRISTIANSEN & RUSS PA 10 RIVER PARK PLAZA SUITE 800 SAINT PAUL MN 55107 990 2024-01-01 471706853 EXODUS FINANCIAL SERVICES EXOD 6156150067 EQUASPACE 2550 UNIVERSITY AV W 200 SAINT PAUL MN 551141052 ANNE LELAND CLARK EXECUTIVE DIRECTOR 6126150067 2025-08-20 1 0 ELIZABETH BARCHENGER P01270090 6512276695 2025-08-20 2024 2025-03-06 01:10:19Z X EXODUS LENDING ANNE LELAND CLARK EQUASPACE 2550 UNIVERSITY AV W 200N SAINT PAUL MN 551141052 9219755 0 X WWW.EXODUSLENDING.ORG X 2014 MN EXODUS LENDING WORKS WITH FINANCIALLY EXCLUDED MINNESOTANS TO ADVANCE ECONOMIC JUSTICE THROUGH CONSUMER LENDING, COMMUNITY ORGANIZING, AND ADVOCACY. WE AIM TO BREAK THE CYCLE OF FINANCIAL ABUSE, DISINVESTMENT, AND DISTRESS FOR LOW-INCOME COMMUNITIES AND COMMUNITIES OF COLOR WHICH THE CURRENT CREDIT AND BANKING SYSTEM EXCLUDES, EXPLOITS, AND ENTRAPS AT AN ALARMING RATE. OUR VISION IS TO EXPAND ACCESS TO SMALL DOLLAR-STABILIZING CAPITAL FOR FINANCIALLY EXCLUDED AND EXTRACTED MINNESOTANS WHILE BUILDING COMMUNITY POWER AND AGENCY TO PREVENT AND ELIMINATE PREDATORY LENDING SCHEMES IN OUR STATE AND NATION. WE DO THIS BY PROVIDING IMMEDIATE RELIEF TO MINNESOTANS EXPERIENCING FINANCIAL STRESS OR TRAUMA THROUGH ONE OF OUR 0% INTEREST CONSUMER SMALL-DOLLAR LOANS AND INVITING IMPACTED COMMUNITIES INTO OUR ADVOCACY AND ORGANIZING COALITION, MINNESOTANS FOR FAIR LENDING. 12 12 8 15 0 0 412179 4796589 0 0 12741 191881 -1466 0 423454 4988470 0 0 0 0 446069 554056 0 0 62574 221260 211214 667329 765270 -243875 4223200 630842 4976089 204288 354053 426554 4622036 X EXODUS LENDING WORKS WITH FINANCIALLY EXCLUDED MINNESOTANS TO ADVANCE ECONOMIC JUSTICE THROUGH CONSUMER LENDING, COMMUNITY ORGANIZING, AND ADVOCACY. 0 0 585196 OUR 0% INTEREST PREDATORY DEBT REFINANCING PROGRAM PAYS OFF HIGH-INTEREST, SMALL-DOLLAR DEBTS AVERAGING 301% APR FOR MINNESOTANS. IN 2024, WE PAID OFF 152 PREDATORY LOANS, TOTALING $119,893, FOR 108 MINNESOTANS. IN ADDITION, 57 GRADUATED FROM OUR PROGRAM HAVING FULLY REPAID THEIR LOANS BACK IN 2024. IN MAY 2024, EXODUS LENDING RELAUNCHED THE SECOND PILOT OF THE RESILIENCY LOAN PROGRAM WHICH WAS AN UPSTREAM, "ANTI-PAYDAY" 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 2024, EIGHT NONPROFIT COMMUNITY PARTNERS ACROSS MINNESOTA PROVIDED $37,255 OF PERSONAL LOANS TO 32 MINNESOTANS THROUGH THIS PROGRAM. WE ARE GROWING OUR PARTNERSHIPS THROUGH A NEW INITIATIVE WHERE WE OFFER LENDING AS A SERVICE TO OTHER NONPROFITS. NONPROFITS SEEK US OUT WHEN THEY ARE TURNED DOWN BY OTHER BANKS AND CREDIT UNIONS WHO DON'T WANT TO ADMINISTER LOANS FOR THEIR PROGRAMS. WE NOW HAVE THE CAPACITY AND CAPITAL TO RESPOND TO THIS NEED AND ARE PILOTING THIS PROGRAM WITH THE LIFT GARAGE IN MINNEAPOLIS. 585196 1 1 0 1 0 0 0 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 3 0 8 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X ANNE LELAND CLARK 6126150067 2550 UNIVERSITY AVENUE W STE 200N SAINT PAUL MN 55105 MICHAEL STEELE TREASURER 3.00 X X 0 0 0 ANNA BRELJE DIRECTOR 1.50 X 0 0 0 KIMBERLY MILLER SECRETARY 2.50 X X 0 0 0 VIENNA WILSON PRESIDENT 2.50 X X 0 0 0 ADAM FAITEK DIRECTOR 1.50 X 0 0 0 RYAN SMITH DIRECTOR 1.50 X 0 0 0 ROXANNY ARMENDARIZ DIRECTOR 1.50 X 0 0 0 MELISSA JULIETTE VICE PRESIDENT 2.50 X X 0 0 0 LATICHIA HARPER DIRECTOR 1.50 X 0 0 0 TIMOTHY ANDERSON DIRECTOR 1.50 X 0 0 0 JAMES UNGLAUBE DIRECTOR 1.50 X 0 0 0 DAVID WALTERS DIRECTOR 1.50 X 0 0 0 ANNE LELAND CLARK EXECUTIVE DIRECTOR 40.00 X 105326 0 9474 105326 0 9474 1 0 0 0 0 171127 4625462 4796589 201166 201166 4222000 4231285 -9285 -9285 -9285 4988470 0 0 191881 114800 68880 22960 22960 365845 324896 17003 23946 36271 32888 1355 2028 37140 32203 2223 2714 20000 20000 37375 18161 12742 6472 2595 2318 262 15 4856 3272 395 1189 49875 32616 15945 1314 11362 9730 904 728 10460 9417 749 294 3644 3216 219 209 252 252 4726 882 3769 75 PROVISION FOR LOAN LOSS 34944 34944 MISC EXPENSES 20674 1875 18692 107 LOAN MANAGEMENT EXPENSE 8761 8761 STAFF DEVELOPMENT 1690 885 282 523 765270 585196 117500 62574 69813 148250 406687 1378600 12866 109775 133603 161452 7873 18533 3099824 59655 630842 4976089 11788 19042 60000 175999 132500 100124 0 58888 204288 354053 X 397554 4221395 29000 400641 426554 4622036 630842 4976089 4223200 -27718 0 X X 0 1 X 1 0 X 536187 463198 584689 412179 4796589 6792842 536187 463198 584689 412179 4796589 6792842 296057 6496785 1851 2341 3015 12741 201166 221114 7013956 0.92630 0.78530 X SCHEDULE A, PART VI, LIST OF UNUSUAL GRANTS: DESCRIPTION: TO SPREAD AN INNOVATIVE LENDING MODEL TO PROVIDE AN UPSTREAM AL DATE: 04/09/24 AMOUNT: 4000000. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2233 1066 3299 761971 765270 139791 34948 0 0 125099 139791 264890 397335 36258 3299 39557 31275 34948 66223 99335 10366 2233 12599 0 0 0 OPERATING LEASE LIABILITY 58888 58888 X 4990981 -27718 30229 2511 4988470 0 4988470 795499 30229 30229 765270 0 765270 PART X, LINE 2: EXODUS BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND ACCORDINGLY, DOES NOT HAVE AN UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION A, LINE 2 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. FORM 990, PART VI, SECTION B, LINE 11B 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. FORM 990, PART VI, SECTION B, LINE 12C 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. FORM 990, PART VI, SECTION B, LINE 15 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. BOARD 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. FORM 990, PART VI, SECTION C, LINE 19 ORGANIZATIONAL DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION'S BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT AUDITOR. THE PROCESS HAS NOT CHANGED FROM THE PREVIOUS YEAR.