Restored
- Assets
- $506.8k
- Revenue
- $655.2k
- Investments
- $0.0
- Employees
- 4
- Location
- Lakeville, MN
- Founding
- 10/2017
- Data as of
- 06/2022
- EIN
- 81-4663429
Organization Overview
Restored is located in Lakeville, MN. The organization was established in 2017. According to its NTEE Classification (P29) the organization is classified as: Thrift Shops, under the broad grouping of Human Services and related organizations. As of 06/2022, Restored employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Restored 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 06/2022, Restored generated $655.2k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 12.8% each year . All expenses for the organization totaled $543.4k during the year ending 06/2022. While expenses have increased by 20.9% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Restored has awarded 27 individual grants totaling $494,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
RESTORED MEETS NEEDS IN OUTREACH AND THRIFT STORE MODEL, ULTIMATELY POINTING OTHERS TO KNOW JESUS.RESTORED'S VISION IS TO PROVIDE HOPE AND RESTORATION TO OUR COMMUNITY THROUGH THE LOVE OF JESUS CHRIST. TO ACCOMPLISH THIS, RESTORED WILL BE COMPRISED OF TWO INTERRELATED COMPONENTS: THRIFT STORE, & MINISTRY/OUTREACH CENTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESTORED OPERATES ON A THIFT STORE MODEL, WHERE DONATED GOODS ARE SOLD TO THE LOCAL COMMUNITY AT A DISCOUNT OR AS NEED DICTATES. RESTORED BUILDS RELATIONSHIPS AND SHARES THE GOSPEL. RESTORED HELPS END THE DOWNWARD SPIRAL OF CRISIS IN PEOPLE'S LIVES. RESTORED EMPOWERS PEOPLE WITH THE RESOURCES AND SKILLS TO HELP THEM LEAD A MORE SATISFYING LIFE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chuck Ellis President | OfficerTrustee | 10 | $0 |
Neil Oakland Vice President/treasurer | OfficerTrustee | 7 | $0 |
Dan Pierson Secretary | OfficerTrustee | 2 | $0 |
Mark Vesta Director | Trustee | 2 | $0 |
Valerie Beck Director | Trustee | 2 | $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 | $646,856 |
| Noncash contributions included in lines 1a–1f | $646,856 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $646,856 |
| Total Program Service Revenue | $646,856 |
| Investment income | $2,109 |
| 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 | -$646,856 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $655,207 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $313,074 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $41,346 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,163 |
| Fees for services: Management | $4,771 |
| Fees for services: Legal | $790 |
| Fees for services: Accounting | $4,065 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $957 |
| Office expenses | $279 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $137,082 |
| Travel | $2,796 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,987 |
| All other expenses | $261 |
| Total functional expenses | $543,405 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $243,504 |
| Savings and temporary cash investments | $260,539 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,776 |
| 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 | $0 |
| 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 | $506,819 |
| Accounts payable and accrued expenses | $7,879 |
| 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 | $7,879 |
| Net assets without donor restrictions | $0 |
| 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 | $498,940 |
| Total liabilities and net assets/fund balances | $506,819 |
Grants Awarded
Over the last fiscal year, Restored has awarded $247,500 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
Bedford, VA PURPOSE: ORGANIZATION'S MISSION | $45,000 |
Waite Park, MN PURPOSE: ORGANIZATION'S MISSION | $40,000 |
St Paul, MN PURPOSE: ORGANIZATION'S MISSION | $32,500 |
Burnsville, MN PURPOSE: ORGANIZATION'S MISSION | $25,000 |
Minneapolis, MN PURPOSE: ORGANIZATION'S MISSION | $25,000 |
Northfield, MN PURPOSE: ORGANIZATION'S MISSION | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Family Pathways North Branch, MN | $11,559,805 | $11,964,466 |
St Vincent De Paul Society District Council Of Green Bay Green Bay, WI | $6,984,787 | $5,313,113 |
Depot Outlet Inc Decorah, IA | $1,906,503 | $2,062,809 |
St Vincent De Paul Council Of Neenah-Menasha Inc Neenah, WI | $2,036,881 | $1,874,816 |
Boys & Girls Club Thrift Store Of Detroit Lakes Detroit Lakes, MN | $3,328,510 | $3,129,793 |
St Josephs Conference Of The Societ St Vincent De Paul Inc Rice Lake, WI | $1,420,027 | $1,322,338 |
Overflow Thrift Store Inc Ames, IA | $470,741 | $892,857 |
St Vincent De Paul Society Of Oshkosh Inc Oshkosh, WI | $3,712,101 | $994,206 |
Society Of St Vincent De Paul Of Monroe Inc Monroe, WI | $1,791,065 | $954,620 |
St Vincent De Paul Society Of Lake Mills Lake Mills, WI | $1,792,161 | $1,066,248 |
Help At Your Door Golden Valley, MN | $1,448,232 | $1,013,891 |
Bargains And Blessings Willmar, MN | $205,621 | $647,975 |