CLOSE GAPS BY 5

EIN: 453571450 501(c)(3)

ST PAUL, MN

Total Revenue
$220,628
Total Expenses
$590,799
Total Assets
N/A
Net Assets
N/A
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2011
Legal Domicile
MN
Principal Officer
ERICCA MAAS
Phone
6513989019
Tax Period
2022-01-01 to 2022-12-31

CLOSE GAPS BY 5, founded in 2011, is a small nonprofit that reported $221K in total revenue in fiscal year 2022. Revenue fell 35% from the prior year — a significant decline worth monitoring. Expenses of $591K exceeded revenue, resulting in a 168% operating deficit.

Mission

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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $220,628
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $220,628

Expense Breakdown

Grants Paid $152,386
Salaries & Benefits $199,782
Fundraising Expenses $42,507
Program Expenses $423,819
Other Expenses $238,631
TOTAL EXPENSES $590,799

Year-over-Year Comparison

2022 2021 Change
Revenue $220,628 $337,782 -0.3%
Expenses $590,799 $452,461 +0.3%
Net Income $-370,171 $-114,679 +2.2%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
10
Independent Members
10
Employees
1
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✓ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$188,200
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL V CIRESI CHAIR 0.30
Officer Director
$0 $0 $0
KEN POWELL VICE CHAIR 0.30
Officer Director
$0 $0 $0
JAN KRUCHOSKI TREASURER 0.30
Officer Director
$0 $0 $0
TIM PENNY SECRETARY 0.30
Officer Director
$0 $0 $0
TERRI BARREIRO BOARD MEMBER 0.30
Director
$0 $0 $0
BRETT EDELSON BOARD MEMBER 0.30
Director
$0 $0 $0
KATHY COONEY BOARD MEMBER 0.30
Director
$0 $0 $0
ROBBIN JOHNSON BOARD MEMBER 0.30
Director
$0 $0 $0
ARTHUR J ROLNICK BOARD MEMBER 0.30
Director
$0 $0 $0
FRED SENN BOARD MEMBER 0.30
Director
$0 $0 $0
ERICCA MAAS EXECUTIVE DIRECTOR 40.00
Officer
$165,000 $6,500 $171,500
MICHELLE CORBIN OPERATIONS DIRECTOR 7.00
Officer
$16,700 $0 $16,700
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2022 $220,628 $590,799 No data $-370,171
2021 $337,782 $452,461 $391,382 $-114,679
2020 $254,738 $328,706 $488,191 $-73,968
2019 $576,835 $410,986 $565,053 $165,849
2018 $632,977 $547,910 $445,723 $85,067
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