Close Gaps By 5
- Assets
- $391.4k
- Revenue
- $337.8k
- Investments
- $0.0
- Employees
- 1
- Location
- Minneapolis, MN
- Founding
- 07/2012
- Data as of
- 12/2021
- EIN
- 45-3571450
Organization Overview
Close Gaps By 5 is located in Minneapolis, MN. The organization was established in 2012. According to its NTEE Classification (P19) the organization is classified as: Support N.E.C., under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Close Gaps By 5 is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Close Gaps By 5 generated $337.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (20.2%) each year. All expenses for the organization totaled $452.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (16.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CLOSE GAPS BY 5 IS A MINNESOTA-BASED NON-PROFIT ORGANIZATION DEDICATED TO USING HIGH QUALITY EARLY EDUCATION PROGRAMS TO CLOSE AND PREVENT ACHIEVEMENT GAPS, AND TO MAKING MINNESOTA'S EARLY EDUCATION SYSTEM MORE EQUITABLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLOSE GAPS BY 5 WORKS TO STRENGTHEN AND EXPAND PARENT AWARE AS MINNESOTA'S QUALITY FRAMEWORK FOR EARLY CARE AND EDUCATION PROGRAMS BY GROWING THE NUMBER OF AVAILABLE PARENT AWARE RATED EARLY CARE AND EDUCATION PROGRAMS STATEWIDE AND WORKING TO KEEP THE RATING STANDARDS STRONG AND TIED TO WHAT RESEARCH SAYS CHILDREN NEED. THIS APPROACH IS SYSTEMATICALLY IMPROVING THE QUALITY OF EARLY CARE AND EDUCATION PROGRAMS IN MINNESOTA. THE NUMBER OF ELIGIBLE PROGRAMS THAT HAVE EARNED RATINGS HAS GROWN SIGNIFICANTLY SINCE THE INCEPTION OF PARENT AWARE, FROM JUST OVER 500 PROGRAMS AT THE END OF 2012 TO NEARLY 2,800 AS OF MARCH 2022. OF THE 320,000 MINNESOTA CHILDREN AGES BIRTH-FIVE YEARS WHO SPEND TIME IN CHILD CARE, NEARLY 100,000 WERE IN PARENT AWARE-RATED PROGRAMS IN 2021.
CLOSE GAPS BY 5 RECOGNIZES THAT BUILDING HIGH-QUALITY PROGRAMS IS NOT ENOUGH IF FAMILIES DO NOT HAVE THE MEANS TO ACCESS THEM. THE SECOND FOCUS OF CLOSE GAP'S PROGRAM WORK IS ON EDUCATING POLICYMAKERS AND THE PUBLIC ABOUT THE IMPORTANCE OF INCREASING INVESTMENTS TO ENABLE ACCESS TO HIGH-QUALITY EARLY CARE AND EDUCATION PROGRAMS BY EXPANDING ACCESS TO EARLY LEARNING SCHOLARSHIPS FOR CHILDREN IN LOW-INCOME FAMILIES. THE STATE ADOPTED THE EARLY LEARNING SCHOLARSHIP PROGRAM IN 2011. WE HAVE BEEN LEADING PARTNERS IN PROMOTING THE PROGRAM TO POLICYMAKERS AND THE PUBLIC SINCE THAT TIME AND HAVE REACHED A LEVEL WHERE AN ESTIMATED 12,000 MINNESOTA CHILDREN BENEFIT FROM EARLY LEARNING SCHOLARSHIPS ANNUALLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ericca Maas Executive Director | Officer | 40 | $129,375 |
Michelle Corbin Operations Director | Officer | 30 | $13,088 |
Ken Powell Vice Chair | OfficerTrustee | 0.3 | $0 |
Jan Kruchoski Treasurer | OfficerTrustee | 0.3 | $0 |
Tim Penny Secretary | OfficerTrustee | 0.3 | $0 |
Michael V Ciresi Chair | OfficerTrustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $337,782 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $337,782 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $337,782 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $135,125 |
| Compensation of current officers, directors, key employees. | $48,644 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,340 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,300 |
| Fees for services: Lobbying | $48,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $146,900 |
| Office expenses | $48,846 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $420 |
| Travel | $1,739 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $55 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,184 |
| All other expenses | $0 |
| Total functional expenses | $452,461 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $376,756 |
| Savings and temporary cash investments | $8,522 |
| Pledges and grants receivable | $4,950 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,154 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $391,382 |
| Accounts payable and accrued expenses | $21,211 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $21,211 |
| Net assets without donor restrictions | $370,171 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $391,382 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Close Gaps By 5 has recieved totaling $240,500.
| Awarding Organization | Amount |
|---|---|
Minneapolis Foundation Minneapolis, MN PURPOSE: DONOR-RECOMMENDED, EDUCATION | $95,000 |
Ciresi Walburn Foundation For Children Minneapolis, MN PURPOSE: GENERAL OPERATING SUPPORT | $50,000 |
The Richard M Schulze Family Foundation Minneapolis, MN PURPOSE: HUMAN SERVICES | $40,000 |
Wem Foundation Minneapolis, MN PURPOSE: GENERAL | $30,000 |
Bcbsm Foundation Inc St Paul, MN PURPOSE: SUPPORT THE EARLY CARE AND EDUCATION CRISIS WORKGROUP | $20,000 |
The Irving Harris Foundation Chicago, IL PURPOSE: GENERAL OPERATING SUPPORT | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
First Childrens Finance Minneapolis, MN | $10,144,998 | $9,546,912 |
Community Action Partnership Of North Dakota Inc Fargo, ND | $560,025 | $2,574,727 |
Developmental Disabilities Information Service Inc Mount Pleasant, WI | $2,272,468 | $2,013,158 |
Safeplace Sioux City, IA | $2,130,470 | $1,607,271 |
Marathon Residential And Counseling Services Inc Wausau, WI | $812,025 | $1,734,130 |
Bridge To Hope Inc Menomonie, WI | $1,470,883 | $1,103,770 |
Jakes Diapers Inc Neenah, WI | $659,286 | $1,241,985 |
Vida Inc Appleton, WI | $4,402,168 | $1,030,112 |
Dominican Outreach Foundation Sinsinawa, WI | $14,730,451 | $609,477 |
Community Care Preschool And Child Care Inc Beaver Dam, WI | $307,096 | $693,413 |
United Neighborhood Centers Of Milwaukee Inc Milwaukee, WI | $387,906 | $635,069 |
Household Abuse Victims Emergency Network Inc Merrill, WI | $719,343 | $692,452 |