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Spare Key provides assistance to Minnesota homeowners with critically ill or seriously injured children by making a mortgage payment on the family's behalf, allowing them to spend time with their child.
Patsy and Robb Keech founded Spare Key in 1997 after the
death of their 2 ½ year old son, Derian. Born with a genetic birth defect,
Derian endured many hospitalizations - six major surgeries and five open-heart surgeries
in his short life. The Keeches were torn between wanting and needing to be
with their child as he faced his uphill battle to survive and going to work in order
to maintain financial stability. The choice to go to work to avoid losing
their home or leaving their critically ill son was tormenting. In the end, they
chose their son.
The Keeches did not lose their home. Their family, friends and strangers raised
money during this crisis to pay their mortgage. This generosity alleviated
stress and anxiety and allowed them to spend precious time with their son until
the day he passed. In memory of this courageous little boy who faced his many
surgeries with a joyful spirit, the Keeches vowed to help other families facing
similar situations.
Statement of Activities and Changes in Net Assets
December 31, 2009 (Audited)
| Public support and revenue |
| Individual |
$ 45,734 |
| Community |
$ 15,364 |
| United Way |
$ 26,647 |
| Corporate |
$ 164,931 |
| Foundation grants |
$ 81,766 |
| Special events |
$ 136,842 |
| In-kind donations |
$ 4,383 |
| Interest income |
$ 942 |
| Misc. income |
$ 217 |
| |
|
| Total public support and revenue |
$ 476,826 |
| |
|
| Expenses |
|
Mortgage Assistance
Program services
|
$ 184,219 |
| Special Events |
$ 87,178 |
| Fundraising |
$ 91,754 |
| Management and General |
$ 24,292 |
| |
|
| Total expenses |
$ 387,433 |
| |
|
| Changes in net assets |
|
| Net assets, beginning of year |
$ 53,852 |
| Net assets, end of year |
$ 89,383 |
Patsy and Robb Keech
Anne Bomstad Miller, Executive Director
Rae Thiede, Joyce Giedt
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President |
Jason Haus
Dem-Con Companies |
|
Vice President |
Dan Arrigoni
US Bank Home Mortgage |
| Secretary |
Erich Mische
mCapitol Management, Inc. |
| Member At Large |
Mark Lomauro
Honeywell |
Michael Belot - PGA of America
Greg Ettinger - Wells Fargo Home Mortgage
Ted Hagberg - Gabriel Financial Group
Henry Hanten - Vanguard Meetings and Incentives
Joy Johnson-Lind - Children's Hospitals & Clinics of MN
Liz Miklya - Weber Shandwick
Jim Miley - Bremer Mortgage
Pam Nolan - Stuart Management Corp
James Ryder -Advisor's Mortgage, LLC
Brian Stousland- Bremer Financial Services
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