Bestprep

Nonprofit profile at a glance

EIN
411265355
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Brooklyn Park, MN, USA
Phone
7633980090
Rating
87
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$2,201,833
Expenses
$2,609,460
Assets
$2,115,453
Liabilities
$323,359

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

65 people listed

Executive titles in this filing

  • JASON SANDERS STARTED 42125 (PRESIDENT & CEO)

Highest reported compensation

  • ROBERT KAITZ (FOUNDER, SR. ADVISOR): $285,857 total reported compensation
  • BONNIE VAGASKY (VP EXTERNAL RELATIONS): $118,471 total reported compensation
  • JOHN SCHULTE (VP FINANCE & TECHNOLOGY): $106,161 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To best prepare Minnesota students with business, career and financial literacy skills through experiences that inspire success in work and life.

What it reported doing in 2024

Minnesota business venture ignites students' passion to achieve success and develop career aspirations in a week-long business and career development camp on a college campus. The program brings together high school students from across the state to work with business leaders and learn about career paths and financial literacy. In 2025, 386 students attended, including 47% from low-income households and 75% students of color.

Operating model

Revenue model
Donor-supported. 96% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 89
  • Accountability: 100
  • Sustainability: 19
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.9%; rating input score 97
  • Program expense ratio: 81.7%; rating input score 82
  • Fundraising efficiency: $11.52 raised per $1 spent on fundraising; rating input score 42; 42nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -18.5%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 0.81; rating input score 30; 30th percentile among comparable filings
  • Liabilities to assets ratio: 0.15; rating input score 50; 50th percentile among comparable filings
  • Officer compensation ratio: 23.6%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: 6% per year; rating input score 100; 45th percentile among comparable filings
  • Revenue growth: 5.7% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: 10.1% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 96.9% of revenue deployed · 81.7% of spending went to programs
  • Governance: 60 of 60 board members independent · 8 of 8 filing controls reported
  • Programs: 6 filed program accomplishments · $2.1M in reported program spending
  • Leadership: top reported pay $286K · 65 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 42/100.
  • High — Sustainability: Operating margin scored 7/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 30/100.
  • High — Sustainability: Officer compensation ratio scored 9/100.
  • Review — Sustainability: Liabilities to assets ratio scored 50/100.