Form 990 for the fiscal year ending December 2022 (IRS tax year 2022).
Provides high-quality early education to close achievement gaps and create a more equitable system. For fiscal year 2022 it reported $221K in revenue and $591K in expenses.Pt I
- Type
- Unknown exempt organization · Nonprofit
- Location
- Minneapolis, MN
- Website
- closegapsby5.org
- Filings
- 3 on file (2020–2022)
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What Funders Ask
Will my donation be tax-deductible?
NEUTRALNot on file
IRS deductibility code is not on file for this EIN. See detail →
Can I donate to this org right now?
GOODNo revocation on IRS record
This EIN does not appear on the IRS auto-revocation list. See detail →
Is this organization up to date?
WARNINGLast filed FY2022 — 4 yrs ago
Most recent Form 990 on file is for fiscal year 2022 (4 years ago). See detail →
Is it receiving grants from reputable foundations?
GOOD5 funders, incl. The Minneapolis Foundation
5 distinct foundation funder(s) on file, $198K received in the most recent year with grants. See detail →
How is the money spent?
GOOD72% to programs
72% of total functional expenses went to program services in the most recent filing (Form 990 Part IX); the rest is overhead and fundraising. See detail →
What's its financial size and trend?
NEUTRAL$100K–1M · ↓ -35% vs prior year
Revenue band $100K–1M, -35% versus the prior filing year (down). See detail →
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Summary of the Filing
Identity & Classification
Governance & Policies
Officers, Directors & Key Employees
Compensation history total reportable pay by year · 2 named individuals · Part VII
| Name | FY2022 | FY2021 | FY2020 |
|---|---|---|---|
| Ericca Maas | $165,000 | $129,375 | $73,125 |
| Michelle Corbin | $16,700 | $13,088 | $18,685 |
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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Where the work happens
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.
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…
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Statement of Revenue
Statement of Functional Expenses
Balance Sheet
Financial Metrics
Same NTEE category, revenue band, and state where available. Descriptive — not a grade.
| Metric | This org | Peer median | Percentile |
|---|---|---|---|
| Program ratio | 72% | — | — |
| Overhead ratio | 21% | — | — |
| Fundraising cost ratio | 19% | — | — |
| Revenue growth | -35% | — | — |
| Legal fee ratio | 0.5% | — | — |
| 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
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Filings & Schedule Manifest
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Sources
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