Exodus Lending

Mission Statement

Exodus Lending is a nonprofit dedicated solely to providing trapped Minnesotan borrowers a just pathway out of payday loan debt and toward financial stability.

Impact and Programs

Accomplishments In 2017 we had 54 enrollments and refinanced a total of $43,595 of payday loan debt. This saved participants an estimated $105,100 assuming they would have otherwise been stuck in the payday loans debt trap for a year. Additionally, last year 36 program graduates successfully paid off their Exodus Lending loans. After completing the program 92% of survey respondents felt they were more equipped today to be financially successful or healthy than before they joined Exodus Lending.
Current Goals In 2018 Exodus Lending will enhance our program's benefits by becoming a credit reporter with the Credit Builders Alliance (CBA) and will continue our strategic expansion efforts to serve more Minnesotan beyond the Twin Cities metro area.
Community or Constituency Served We serve Minnesota residents who have a steady source of income, a bank account, and have been stuck in the payday loan debt trap for at least 30 days.
Geographic Area Served Exodus Lending refinances payday loans for all residents of Minnesota.

Reports & Finances

If you have additional questions regarding a nonprofit's financials, visit their website, or call and ask to review their IRS Form 990, Annual Report, or Audit for a more complete picture of their financial story.
Major Program Expenses
Refinancing Payday Loans:
$112,835
3 Year Average Expenses
Program Services
$66,153
71.1%
Management
$13,351
14.3%
Fundraising
$13,552
14.6%
Unrestricted Net Assets
End of Year:
Beginning of Year:
Difference:
2018
$210,797
$142,120
$68,677
2017
$142,140
$95,454
$46,686
2016
$94,229
$80,498
$13,731

Organization Last Reviewed on 11/21/2018

This date is representative of when we completed our initial Accountability Wizard® nonprofit review, and provided the organization with their results. This review is good for three years from the date provided
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Connect

Address:
2380 Wycliff Street
St. Paul, Minnesota 55114
Phone: 612-615-0067

General Information

Alternative Name: Exodus Financial Services
EIN: 47-1706853
Principal Staff: Sara Nelson-Pallmeyer
Number of Full-Time Equivalents (FTE): 3
Volunteer Opportunities: Yes
Number of Clients: 55
Ruling Year: 2017

Board

Board Chair: Eric Howard
Number of Board Members: 11
Board Meetings with Quorum: 17
Average Member Attendance: 8.6

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Let’s Connect

700 Raymond Avenue, Suite 160 • Saint Paul, MN 55114
Phone: (651) 224–7030 • E-mail: info@smartgivers.org

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