Spare Key EIN 41-1888767 Form 990 (PDF) Claim this org

Spare Key FY2022 filing

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Helps families facing medical crises fundraise for care and stay with loved ones. For fiscal year 2022 it reported $998K in revenue, $953K in expenses, and $612K in net assets.Pt I

Founded
1997
Type
Public charity (501(c)(3)) · Community Development
Location
St Paul, MN
Website
www.sparekey.org
Filings
6 on file (2020–2022)
Revenue
$998KFY2022
Expenses
$953K
Net assets
$612K
People
29
Filings
6
Updates
0
More identity details & actions ⌄
EIN  41-1888767 Public charity (501(c)(3)) St Paul, MN Founded 1997
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →
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Size
$100K–1M
What they do
Helps families facing medical crises fundraise for care and stay with loved ones.
Leadership
Erich Mische Through 103122 · Executive Di · $120K
Money in and out
$998K revenue, $953K expenses
Bottom line
84% program efficiency
Where the money goes · FY2022
Total revenue
$998K
Pt VIII · Ln 12
Total expenses
$953K
Pt IX · Ln 25
Net assets
$612K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $45K
Where spending went · Part IX cols B–D
Program services $0.84 Management & general $0.03 Fundraising $0.13
Program efficiency
84%
of spending reaches programs
Operating runway
8.1mo
months of highly liquid reserves at operating expense rate
Surplus margin
+4%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$998K
FY2022▲ +20%
Expenses
$953K
FY2022▲ +10%
Total assets
$654K
FY2022▲ +6%
Total liabilities
$42K
FY2022▼ -49%
Total revenue
$998K
Pt VIII · Ln 12
Total expenses
$953K
Pt IX · Ln 25
Net assets
$612K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$45K
Total assetsPt X · Ln 16$654K
Program-expense ratioPt IX · col B84%
Voting members of governing bodyPt I · Ln 326
Independent voting membersPt I · Ln 426
Mission & Programs · Part III

Where the work happens

1 program service account for $798K of program spending, described in the organization's own filed words · FY2022.
01

Spare keys mission is to provide assistance to families with a critically ill or seriously injured family member. No matter the illness, no matter the injury, no matter the income. We help families bounce and not break through our help me bounce platform, harnessing the power of crowdfunding to connect thousands of families directly to…

$798Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CSpare Key
EINHdr · item D41-1888767
Principal addressHdr · item CSt Paul, MN
WebsiteHdr · item Jwww.sparekey.org
Year of formationHdr · item L1997
State of legal domicileHdr · item MMN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S20)
Ruling yearIRS BMFMar 1998

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a26
Independent voting membersPt VI · Ln 1b26
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$119,892Pt VII · Sec A
Executive Di
$88,850Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Sarah Rocklitz’s $93K as Executive Di is at the 68th percentile of top reported officer pay among 1710 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Erich Mische$141,816$137,783
Erich Mische Through 103122$119,892
Sarah Putnam$101,113$88,850
Sarah Rocklitz$93,316$99,839

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$1.1M · 110%
Investment income$20K · 2%
Contributions & grants110%$1.1M
Investment income2%$20K
Total revenueLn 12$998K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.84 Management & general $0.03 Fundraising $0.13
Program services84%$798K
Management & general3%$31K
Fundraising13%$125K
Total functional expensesLn 25$953K

Balance Sheet

Part X · end of year
CashLn 1$623K
Total assetsLn 16$654K
Total liabilitiesLn 26$42K
Total net assetsLn 32$612K
Months of cash on handcomputed7.8

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $623K · Operating expenses (Pt IX) $953K · Less non-cash grants $31K · Cash operating expenses/yr $922K
8.1 months
Where the money goes
Program services
Program services $798K · Total expenses $953K
84%
Management & General
Management & general $31K · Total expenses $953K
3%
Fundraising
Fundraising $125K · Total expenses $953K
13%
Cost to raise $1
Fundraising expense (3-yr avg) $158K · Solicited contributions (3-yr avg) $1.1M
$0.14 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $1.1M · Total revenue $998K
110%
Government reliance
Government grants — · Total revenue $998K
Earned-income share
Program service revenue $0 · Total revenue $998K
0%
Investment reliance
Investment income $20K · Total revenue $998K
+2%
Program self-sufficiency
Program service revenue $0 · Total expenses $953K
0%
Growth & trend
Revenue growth (YoY)
This year $998K · Prior year $831K
+20%
Net-asset trend (YoY)
End of year $612K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $998K · Expenses $953K
+4%
Liabilities-to-Assets
Total liabilities — · Total assets $654K
Net-asset ratio
Net assets $612K · Total assets $654K
94%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $654K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Erich Mische Through 103122 · Reported title EXECUTIVE DI · Highest reported compensation $120K · Total expenses $953K
13%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $536K · Total expenses $953K
56%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 84%
Overhead ratio 3%
Fundraising cost ratio 11%
Revenue growth 20%
Legal fee ratio 0.3%
Accounting fee ratio 2%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 11 funders →
Grants paid · 39 grants · $1.3M · 2020–2025
Unitemized GrantFY2025$106,989
Unitemized GrantFY2025$102,827
Unitemized GrantFY2025$11,913
Unitemized GrantFY2025$9,796
Unitemized GrantFY2025$3,672
Unitemized GrantFY2025$500
Unitemized GrantFY2024$73,477
Unitemized GrantFY2024$66,914
Unitemized GrantFY2024$5,891
Unitemized GrantFY2024$3,705
Unitemized GrantFY2024$1,667
Unitemized GrantFY2024$857
Unitemized GrantFY2023$123,411
Unitemized GrantFY2023$112,593
Unitemized GrantFY2023$16,297
Unitemized GrantFY2023$10,934
Unitemized GrantFY2023$7,006
Unitemized GrantFY2023$305
See all 39 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$946K revenue · ⤓ 990 PDF
FY2024$817K revenue · ⤓ 990 PDF
FY2023$892K revenue · ⤓ 990 PDF
FY2022$998K revenue · viewing · ⤓ 990 PDF
FY2021$831K revenue · ⤓ 990 PDF
FY2020$1.2M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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