EXODUS FINANCIAL SERVICES
2380 WYCLIFF STREET NO B-100, SAINT PAUL, MN 55114 www.exoduslending.org

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Organizations Filed Purposes: EXODUS LENDING IS A NONPROFIT DEDICATED TO HELPING MINNESOTANS GET OUT OF PAYDAY LOAN DEBT. OUR MISSION IS TO PROVIDE TRAPPED BORROWERS A JUST PATHWAY TOWARD FINANCIAL STABILITY. TO ACHIEVE THIS GOAL, EXODUS LENDING PAYS OFF PAYDAY LOANS UP TO $1,500 FOR PROGRAM PARTICIPANTS AND SETS UP A PLAN WITH THEM TO REPAY ONLY THE AMOUNT REFINANCED, ADDING NO INTEREST OR FEES, OVER THE COURSE OF 12 MONTHS. THE PROGRAM PROVIDES INCENTIVES FOR PARTICIPANTS WHO MEET WITH A FINANCIAL COUNSELOR AND/OR CONTRIBUTE TO A PERSONAL SAVINGS ACCOUNT.

EXODUS FINANCIAL SERVICES (DBA EXODUS LENDING) REFINANCES PAYDAY LOAN DEBT FOR PERSONS CAUGHT IN THE PAYDAY LOAN DEBT TRAP, CHARGING NO INTEREST OR FEES.

IN 2020, EXODUS LENDING HAD 84 ENROLLMENTS AND REFINANCED $71,926 OF PREDATORY DEBT. IN DOING SO, WE ESTIMATE OUR PROGRAM SAVED PARTICIPANTS $220,612, ASSUMING THESE PARTICIPANTS WOULD HAVE OTHERWISE REMAINED IN THE DEBT TRAP FOR A YEAR. ADDITIONALLY, IN 2020, 103 PARTICIPANTS PAID OFF THEIR EXODUS LENDING LOANS. IN RESPONSE TO THE COVID-19 PANDEMIC AND WITH THE USE OF RESTRICTED, ONE-TIME FUNDING TO PROVIDE DIRECT RELIEF TO PARTICIPANTS, EXODUS LENDING ALSO HELPED 241 MINNESOTANS IMPACTED NEGATIVELY BY COVID-19 BY COVERING $27,476 OF LOAN PAYMENTS FOR 190 ACTIVE PARTICIPANTS AND DISTRIBUTING $71,400 WORTH GRANTS OF UP TO $500 EACH TO 156 INDIVIDUALS.

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Data for this page was sourced from XML published by IRS (public 990 form dataset) from: https://s3.amazonaws.com/irs-form-990/202131309349300543_public.xml