Financial Transparency
We embrace the values of accountability and transparency as a matter of ethical leadership and legal compliance. Through transparency we earn trust with donors, partners, employees, and the community we are accountable to.
We undergo a financial audit every year. Although we are not required to have an annual audit, we choose to do so because Management and the Board of Directors take seriously the fiduciary duties of running the organization. The additional costs are an overhead expense, but one that we value and demonstrates to the community our commitment to spending your donations as effectively as possible.
Revenue
| Congregations | $101,550.00 |
| Individuals | $361,761.00 |
| Foundations/Corporations | $1,112,633.00 |
| Government Contracts | $2,480,889.00 |
| In-Kind | $67,672.00 |
| Misc+Interest | $13,611.00 |
| TOTAL | $4,138,116.00 |
Expenses
| Operations and Administration | $542,590 |
| Fundraising | $302,088 |
| Opportunity Saint Paul | $126,051 |
| Project Home | $1,825,573 |
| DIW | $877,337 |
| Economic Mobility Hub | $254,475 |
| TOTAL | $3,927,912 |
FAQs
Why doesn’t IFA have an IRS Form 990?
Interfaith Action of Greater Saint Paul is exempt from federal income tax under section 501(c)(3) of the Internal Revenue Code. Part of that exemption is because we are a group of religious organizations who have gathered to make an impact on the community. Because of this we also have a religious exemption which means we do not need to file an IRS Form 990 or a State of MN Exempt Organization form.
What percentage of IFA’s revenue goes to overhead/admin?
22%. To manage programs that are successful and impactful to our community, we must invest in our organizational infrastructure (core mission support or “overhead”). Each of our programs is built around, is supported by, and shares responsibility for Core Mission Support.
Without this investment we limit our most valuable asset: the extraordinary efforts of the human beings who are our staff and volunteers.
Why doesn’t IFA have a charity review ratings?
Most charity review organizations simply download an organization’s IRS Form 990 into their database and generate a rating based on the information provided on that form. Because IFA does not file a Form 990 the charity review organizations do not have a simple way of rating IFA and have not developed a way to accurately measure the outcomes of the work we do.
For example, one charity review organization required us to exclude the cost of meals and social workers in our shelter program, because other shelters don’t provide those services. But at IFA, these services (and many others) we provide are what distinguishes us from other nonprofits and increases our positive outcomes. The things that make us different, make us hard to compare to others and thus difficult to rate using canned rating systems.
Interfaith Action of Greater Saint Paul Foundation
The IFA Foundation is a separate 501 (c)(3) whose sole purpose is to support the work of IFA through modest yearly grants, emergency funding, and funding for new initiatives.
Revenue
| Beginning Assets (7/1/2022) | $1,311,846 |
| Dividends, Interest, Change in Mkt Value, Donations | $175,803 |
| Ending Assets (6/30/2023) | $1,374,679 |
Expenses
| Management and Accounting | $26,324 |
| Grants to Interfaith Action | $53,185 |
IFA Revenue
IFA Expenses
