Resourcewest

Nonprofit profile at a glance

EIN
411975357
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Minnetonka, MN, USA
Phone
9524126253
Rating
78
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Educational Services and Schools - Other

Official website

Reported finances

Revenue
$389,572
Expenses
$478,396
Assets
$389,567
Liabilities
$10,370

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Sara Chovan (President)
  • Dirk Koenig (Vice President)
  • Tracie Stanton (Executive Director)

Highest reported compensation

  • Tracie Stanton (Executive Director): $85,490 total reported compensation

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

Overview

Mission

Support individuals and families in the West Metro through collaborative programs and connections to resources as they move toward greater stability.

What it reported doing in 2024

ResourceWest is a nonprofit agency serving families and individuals in the Twin Cities West Metro community. Our goal is to help people become more connected resourceful and hopeful about their future. Our services aim to stabilize families fostering healthier communities one neighbor at a time. Our mission is to support individuals and families in the West Metro through collaborative programs and resource connections to enhance stability. ResourceWest achieves its mission through the following core initiatives: Social Services Programs: 708 households served - Case Management: Supporting community members in achieving greater stability. - Emergency Assistance: Providing one-time grants for transportation childcare and employment challenges. - Childcare and Academic Assistance Program: Offering financial aid covering 50% of tuition costs for childcare and tutoring for eligible families. - Information and Referral Service: Providing answers and referrals to agencies assisting with food clothing housing healthcare employment and more. Children and Youth Programs: 3,393 children served Back-to-School Program: - Families Participating: 468 - Children Receiving Supplies: 1,186 Winter Warm Wear Program: - Families Participating: 384 - Children Receiving Winter Warm Wear: 1,107 Toy Chest Program: - Families Participating: 335 - Children Receiving Gifts: 1,100

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 73% for direct work, and 27% for grants.

The verdict

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

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 95
  • Accountability: 90
  • Sustainability: 23
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.6%; rating input score 75
  • Program expense ratio: 60.4%; rating input score 60
  • Fundraising efficiency: $5.03 raised per $1 spent on fundraising; rating input score 22; 22nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 97.4%; rating input score 97; 57th percentile among comparable filings
  • 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -22.8%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 0.81; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 38; 38th percentile among comparable filings
  • Officer compensation ratio: 17.9%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: 3.1% per year; rating input score 100; 45th percentile among comparable filings
  • Revenue growth: 5.1% per year; rating input score 100; 53rd percentile among comparable filings
  • Asset growth: 7.8% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 74.6% of revenue deployed · 60.4% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $289K in reported program spending
  • Leadership: top reported pay $85K · 12 people listed
  • Consistency: 41 of 42 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Fundraising efficiency scored 22/100.
  • High — Sustainability: Operating margin scored 13/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 38/100.