Mennonite Economic Development Associates
- Assets
- $26.3m
- Revenue
- $14.8m
- Investments
- $0.0
- Employees
- 16
- Location
- Lancaster, PA
- Founding
- 12/1981
- Data as of
- 06/2022
- EIN
- 23-7398678
Organization Overview
Mennonite Economic Development Associates, operating under the name Meda, is located in Lancaster, PA. The organization was established in 1981. According to its NTEE Classification (Q32) the organization is classified as: International Economic Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 06/2022, Meda employed 16 individuals. This organization is the central organization for a national or regional group of organizations. Meda 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 06/2022, Meda generated $14.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $10.7m during the year ending 06/2022. While expenses have increased by 4.1% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
MEDA CREATES BUSINESS SOLUTIONS TO POVERTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDA WORKS ALONGSIDE OUR PARTNERS AND CLIENTS TO HELP: I) ALLEVIATE POVERTY, II) SUPPORT SUSTAINABLE BUSINESS GROWTH AND LIVELIHOODS, III) WOMEN MOVE INTO MORE VALUED AND EQUITABLE ROLES IN THEIR ECONOMIES, IV) BUSINESSES AND SMALL ENTREPRENEURS GAIN ACCESS TO FINANCIAL SERVICES INCLUDING INVESTMENT, ADOPT CLEAN TECHNOLOGIES/CLIMATE-SMART APPROACHES, AND MINIMIZE THEIR ENVIRONMENTAL FOOTPRINT, AND V) IMPROVE THEIR ECONOMIES. MEDA'S DEVELOPMENT PROGRAMS INCLUDE A FULL RANGE OF ECONOMIC DEVELOPMENT TOOLS: FINANCIAL SERVICES, IMPROVED TECHNOLOGY, BUSINESS TRAINING AND BETTER ACCESS TO MARKETS. OUR DEVELOPMENT PROGRAM WORK MOST OFTEN FOCUSES ON WOMEN, YOUTH AND PEOPLE LIVING IN POVERTY IN RURAL AREAS.
MEDA DEVELOPS AND INVESTS IN VEHICLES THAT ASSIST LOW-INCOME PERSONS IN DEVELOPING COUNTRIES THROUGH THE PROVISION OF CREDIT AND EQUITY FINANCING THAT CREATES BUSINESSES AND INCOME GENERATION TO ASSIST THE POOR.
MEDA PROGRAMS FACILITATES THE CONNECTION OF FAITH AND WORK THROUGH DISCUSSIONS, PUBLICATIONS AND CONVENTIONS FOR PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Claude Clodomir Chief Of Party, Haiti, Meda | 37.5 | $261,128 | |
Thomas Mccormack Country Director, Ethiopia, Meda | 37.5 | $129,969 | |
Millie Gadbois Country Director, Senegal, Meda | 37.5 | $120,791 | |
Jamie Alvarez Board Officer, Treasurer | OfficerTrustee | 1 | $0 |
Verda Beachey Board Officer, Secretary | OfficerTrustee | 1 | $0 |
Greg Gaeddert Board Officer, Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,477,391 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,627,129 |
| Noncash contributions included in lines 1a–1f | $184,259 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,104,520 |
| Total Program Service Revenue | $1,442,095 |
| Investment income | $796 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $31,902 |
| 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 | $14,802,817 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $83,052 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $791,224 |
| Pension plan accruals and contributions | $39,571 |
| Other employee benefits | $168,669 |
| Payroll taxes | $67,074 |
| Fees for services: Management | $1,446,766 |
| Fees for services: Legal | $39,311 |
| Fees for services: Accounting | $56,034 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $420,970 |
| Fees for services: Other | $0 |
| Advertising and promotion | $54,361 |
| Office expenses | $35,412 |
| Information technology | $2,154 |
| Royalties | $0 |
| Occupancy | $68,154 |
| Travel | $50,635 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,717 |
| Interest | $235,856 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,270 |
| Insurance | $35,666 |
| All other expenses | $0 |
| Total functional expenses | $10,655,445 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,089,429 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,976,002 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $653,684 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $74,434 |
| Net Land, buildings, and equipment | $714,866 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $17,757,178 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $26,265,593 |
| Accounts payable and accrued expenses | $243,005 |
| Grants payable | $0 |
| Deferred revenue | $1,305,915 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $9,248,348 |
| Other liabilities | $0 |
| Total liabilities | $10,797,268 |
| Net assets without donor restrictions | $15,468,325 |
| Net assets with donor restrictions | $0 |
| 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 | $26,265,593 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Mennonite Economic Development Associates has recieved totaling $79,298.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: INTERNATIONAL, FOREIGN AFFAIRS | $64,691 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $6,180 |
Lancaster County Community Foundation Lancaster, PA PURPOSE: DESIGNATED FOR GENERAL OPERATING SUPPORT | $5,873 |
Textron Charitable Trust 540 008 Providence, RI PURPOSE: MATCHING GIFT TO CIVIC AGENCY | $2,400 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $154 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Polish-American Freedom Foundation New York, NY | $332,912,578 | $20,651,430 |
Dress For Success Worldwide New York, NY | $9,765,263 | $14,118,582 |
Endeavor Global Inc New York, NY | $17,758,887 | $22,239,624 |
Mennonite Economic Development Associates Lancaster, PA | $26,265,593 | $14,802,817 |
Financial Services Volunteer Corps Inc New York, NY | $4,338,276 | $8,058,219 |
Romanian American Foundation New York, NY | $151,764,693 | $36,392,050 |
Serrv International Inc Westminster, MD | $5,915,930 | $5,889,769 |
Nest Inc New York, NY | $5,296,909 | $4,810,117 |
Cerge-Ei Foundation New York, NY | $13,211,124 | $3,287,220 |
Junior Achievement Of New York New York, NY | $4,177,610 | $3,603,746 |
Junior Achievement Usa Bridgeville, PA | $5,474,447 | $2,637,956 |
Junior Achievement Usa Baltimore, MD | $5,919,708 | $2,752,721 |