Redemption Project
- Assets
- $214.1k
- Revenue
- $547.9k
- Investments
- $0.0
- Employees
- 9
- Location
- Minneapolis, MN
- Founding
- 10/2018
- Data as of
- 12/2023
- EIN
- 82-3857659
Organization Overview
Redemption Project is located in Minneapolis, MN. The organization was established in 2018. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2023, Redemption Project employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Redemption Project 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 12/2023, Redemption Project generated $547.9k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 33.5% each year . All expenses for the organization totaled $630.7k during the year ending 12/2023. While expenses have increased by 35.6% per year over the past 5 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ELIMINATING RECIDIVISM THROUGH EDUCATION, MENTORSHIP, AND EMPLOYMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE REDEMPTION PROJECT EXPANDED SERVICES FOR JUSTICE-INVOLVED INDIVIDUALS BY: 1.) LAUNCHING NEW IN-PERSON VIRTUE FOR SUCCESS CLASSES AT MINNESOTA STATE PRISONS, STILLWATER, LINO LAKES, AND RUSH CITY; FEDERAL MEDICAL CENTER, ROCHESTER; AND FEDERAL CORRECTIONAL INSTITUTION, SANDSTONE. 2.) LEAD EIGHT CORHORTS, REPRESENTING 70 JUSTICE-INVOLVED INDIVIDUALS, THROUGH OUR VIRTUES FOR SUCCESS CLASS. CONNECTING 58 OF OUR CLASS GRADUATES WITH MENTORS (THE REMAINING 12 WILL BE CONNECTED WITH MENTORS WHEN THEY ARE CLOSER TO THEIR RELEASE DATES). PROVIDED ALL RELEASED PROGRAM PARTICIPANTS WITH JOB OPPORTUNITIES. RECRUITED AND TRAINED 31 NEW MENTORS FOR A TOTAL OF 57 ACTIVE MENTORS. ENGAGED 15 NEW EMPLOYMENT PARTNERS FOR A TOTAL OF 43 EMPLOYMENT PARTNERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dwight Tostenson CEO And President | OfficerTrustee | 40 | $99,648 |
Tim Owens Board Chair | OfficerTrustee | 10 | $0 |
Chelsey Berstler Treasurer & Board Member | OfficerTrustee | 1 | $0 |
Mark Larson Secretary & Board Member | OfficerTrustee | 1 | $0 |
Robert Elfstrand Board Member - VP Of Development Until 08/2023 | Trustee | 40 | $73,911 |
Joshua Hedquist Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $455,206 |
| All other contributions, gifts, grants, and similar amounts not included above | $90,024 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $545,230 |
| Total Program Service Revenue | $0 |
| Investment income | $2,649 |
| 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 | $547,879 |
| 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. | $173,559 |
| Compensation of current officers, directors, key employees. | $11,068 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $107,656 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $27,476 |
| Payroll taxes | $21,513 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $66,753 |
| Fees for services: Lobbying | $60,000 |
| Fees for services: Fundraising | $35,750 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,000 |
| Advertising and promotion | $808 |
| Office expenses | $2,856 |
| Information technology | $38,433 |
| Royalties | $0 |
| Occupancy | $12,382 |
| Travel | $17,368 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,687 |
| Interest | $14,526 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $225 |
| All other expenses | $0 |
| Total functional expenses | $630,719 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $72,400 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $137,929 |
| 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 | $3,732 |
| 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 | $214,061 |
| Accounts payable and accrued expenses | $154,096 |
| 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 | $268,700 |
| Other liabilities | $0 |
| Total liabilities | $422,796 |
| Net assets without donor restrictions | -$208,735 |
| 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 | $214,061 |