African Development Center
- Assets
- $18.2m
- Revenue
- $5.3m
- Investments
- $0.0
- Employees
- 10
- Location
- Minneapolis, MN
- Founding
- 04/2004
- Data as of
- 12/2021
- EIN
- 20-0553370
Organization Overview
African Development Center is located in Minneapolis, MN. The organization was established in 2004. According to its NTEE Classification (P40) the organization is classified as: Family Services, under the broad grouping of Human Services and related organizations. As of 12/2021, African Development Center employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. African Development Center is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, African Development Center generated $5.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 30.5% each year . All expenses for the organization totaled $1.6m during the year ending 12/2021. While expenses have increased by 13.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
GROW BUSINESSES, BUILD WEALTH AND INCREASE REINVESTEMENT IN THE AFRICAN COMMUNITIES OF MINNESOTA
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADC'S CULTURALLY COMPETENT BUSINESS DEVELOPMENT SERVICES AND ITS PARTNERSHIPS WITH CRUCIAL FUNDING SOURCES HAVE DIRECTLY CONTRIBUTED TO THE SURGE IN AFRICAN-OWNED BUSINESSES THROUGHOUT MINNESOTA. IN ADDITION TO ONGOING TECHNICAL ASSISTANCE, ADC HAS AN ENTREPRENEURIAL TRAINING CLASS FOR CLIENTS LOOKING TO START A COMPLETELY NEW BUSINESS. AFTER THE COMPLETION OF THE WORKSHOP, CLIENTS COMING IN WITH AN EXISTING BUSINESS ARE READY TO ENGAGE IN ONE-ON-ONE GUIDANCE WITH ADC'S BUSINESS LENDERS. IN 2021, ADC MADE 107 PROJECTS; 127 LOANS, LEVERAGED $4,100,484 WITH A TOTAL PROJECT COST OF $9,614,069, CREATED 126 JOBS AND RETAINED 265 JOBS (TOTAL JOBS 391). IN 2021 ADC'S HOMEOWNERSHIP AND FINANCIAL LITERACY PROGRAMS SERVED 381 PEOPLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nasibu Sareva CEO | Officer | 50 | $128,577 |
Felicia Ravelomanatsoa Board Vice President (through 12/21) | OfficerTrustee | 1 | $0 |
Leah Mtegha Board Secretary | OfficerTrustee | 1 | $0 |
Jo Ann Vano Board President | OfficerTrustee | 1 | $0 |
Abdikafar Aden Board Treasurer (through 12/21) | OfficerTrustee | 1 | $0 |
Ubah Ali Jama Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $501,579 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,041,485 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,543,064 |
| Total Program Service Revenue | $791,567 |
| Investment income | $7,534 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,342,165 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $78,540 |
| Grants and other assistance to domestic individuals. | $22,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $140,075 |
| Compensation of current officers, directors, key employees. | $28,015 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $377,794 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $33,152 |
| Payroll taxes | $37,037 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,543 |
| Fees for services: Accounting | $62,985 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $143,156 |
| Advertising and promotion | $1,006 |
| Office expenses | $18,765 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $131,929 |
| Travel | $9,045 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,929 |
| Interest | $117,866 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,153 |
| Insurance | $9,565 |
| All other expenses | $23,637 |
| Total functional expenses | $1,575,452 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,005,579 |
| Savings and temporary cash investments | $1,063,003 |
| Pledges and grants receivable | $474,421 |
| Accounts receivable, net | $831 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,583,632 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,174 |
| Net Land, buildings, and equipment | $26,879 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $18,157,519 |
| Accounts payable and accrued expenses | $225,198 |
| Grants payable | $0 |
| Deferred revenue | $661,933 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,877,875 |
| Unsecured mortgages and notes payable | $1,700,000 |
| Other liabilities | $2,806,991 |
| Total liabilities | $11,271,997 |
| Net assets without donor restrictions | $5,243,222 |
| Net assets with donor restrictions | $1,642,300 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $18,157,519 |
Grants Awarded
Over the last fiscal year, African Development Center has awarded $10,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
HOPE HAIR BRAIDING LLC PURPOSE: TO HELP SMALL BUSINESS DURING COVID-19 | $5,000 |
Minneapolis, MN PURPOSE: TO HELP SMALL BUSINESSES DURING COVID-19 | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that African Development Center has recieved totaling $1,384,232.
| Awarding Organization | Amount |
|---|---|
Otto Bremer Trust St Paul, MN PURPOSE: CBFC EMERGENCY FUND | $500,000 |
Otto Bremer Trust St Paul, MN PURPOSE: GENERAL OPERATING SUPPORT | $100,000 |
Minneapolis Foundation Minneapolis, MN PURPOSE: HUMAN SERVICES | $100,000 |
Mcknight Foundation Minneapolis, MN PURPOSE: FOR GENERAL OPERATING SUPPORT | $100,000 |
Mcknight Foundation Minneapolis, MN PURPOSE: FOR GENERAL OPERATING SUPPORT | $100,000 |
Target Foundation Minneapolis, MN PURPOSE: RACIAL EQUITY | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hillcrest Family Services Dubuque, IA | $25,783,146 | $22,464,986 |
Cap Services Inc Stevens Point, WI | $51,415,788 | $20,477,463 |
Family Services Of Northeast Wisconsin Inc Green Bay, WI | $20,431,269 | $18,504,506 |
Village Family Service Center Fargo, ND | $12,107,956 | $15,579,947 |
Youth & Family Services Inc Rapid City, SD | $17,926,215 | $14,125,472 |
St Charles Youth And Family Services Inc Milwaukee, WI | $8,959,168 | $12,461,282 |
Jewish Family And Childrens Service Of Minneapolis Golden Valley, MN | $33,981,144 | $11,171,027 |
The Family Partnership Minneapolis, MN | $15,766,567 | $10,031,298 |
Community Emergency Assistance Program Inc Brooklyn Center, MN | $5,722,724 | $6,822,147 |
Catholic Charities North Dakota Fargo, ND | $5,763,005 | $7,681,422 |
Rock Walworth Comprehensive Family Services Inc Beloit, WI | $2,732,991 | $6,046,261 |
Perspectives Inc St Louis Park, MN | $5,864,131 | $4,782,856 |