Financial Education of Minnesota

Nonprofit profile at a glance

EIN
453838047
IRS 990-EZ coverage
2020–2025
Forms available
Form 990 2019, Form 990-EZ 2025
Location
St Louis Park, MN, USA
Phone
9525937716
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Financial Counseling
Affiliation
Christianity

Official website

Reported finances

Revenue
$96,758
Expenses
$78,360
Assets
$269,719
Liabilities
$2,990

Source: IRS Form 990-EZ. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

5 people listed

People named in this filing

  • JIM RHODES (Chairman)
  • JOHN HOFFMAN (VICE CHAIRMAN)
  • RAYEANN HOFFMAN (Sec/TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Financial education of Minnesota is committed to helping our clients by understanding their situation & making recommendations that will help them achieve their budget & debt repayment goals. We strive to maintain training & quality systems that will allow our counselors & client service team to provide a positive experience for our clients. We commit to continually improve our quality system. We also provide relevant, practical budget/debt/credit education to churches, schools, employers & other community groups.

What it reported doing in 2025

BUDGETING & CREDIT COUNSELING: Financial Education of Minnesota provides budgeting & credit counseling to groups & individuals. In 2025 we taught 156 group classes & 30 individual classes.

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
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

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 100
  • Sustainability: 59
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.9%; rating input score 62
  • Program expense ratio: 76.5%; rating input score 76

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: 19%; rating input score 71; 71st percentile among comparable filings
  • Total-asset coverage ratio: 3.44; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 37.4%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: -8.9% per year; rating input score 0; 30th percentile among comparable filings
  • Revenue growth: -6% per year; rating input score 0; 32nd percentile among comparable filings
  • Asset growth: 9.1% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 61.9% of revenue deployed · 76.5% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $60K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 5 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 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.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.