Build Wealth Mn Inc

Organization Overview

Build Wealth Mn Inc is located in Minneapolis, MN. The organization was established in 2007. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. As of 12/2023, Build Wealth MN Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Build Wealth MN Inc 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 12/2023, Build Wealth MN Inc generated $7.7m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 36.3% each year . All expenses for the organization totaled $4.2m during the year ending 12/2023. While expenses have increased by 29.8% per year over the past 5 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

HELP FAMILIES AND COMMUNITIES BUILD SOCIAL AND ECONOMIC WEALTH BY PROVIDING COMPREHENSIVE VALUE BASED FINANCIAL EDUCATION, TRAINING, TECHNICAL ASSISTANCE, AFFORDABLE HOUSING OPPORTUNITIES, AND ACCESS TO DEVELOPMENTAL FINANCIAL PRODUCTS AND SERVICES IN COLLABORATION WITH OTHER PUBLIC AND PRIVATE COMMUNITY PARTNERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDE FAMILIES AND INDIVIDUALS WITH DEVELOPMENTAL PRODUCTS AND SERVICES WHICH INCLUDE FAVORABLE FINANCING, EDUCATION, FINANCIAL LITERACY TRAINING, TECHNICAL ASSISTANCE, ACCESS TO RESOURCES TO EMPOWER THEM TO BECOME SELF SUFFICIENT. HELPING THEM ACCESS AFFORDABLE HOUSING OPPORTUNITIES, WORKFORCE READINESS, SMALL BUSINESS DEVELOPMENT TECHNICAL ASSISTANCE, SERVICES TO BUILD ASSETS, FINANCIAL CAPABILITY & WEALTH. COLLABORATE WITH COMMUNITY PARTNERS TO EXPAND ACCESS TO RESOURCES AND OPPORTUNITIES TO THE UNDERSERVED.


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Board, Officers & Key Employees

Name (title)Compensation
David Mcgee
Executive Di
$432,946
Monique Bulson-Bratton
Director
$0
Franklin Stovall
Director
$0
Loretta Smith
Director
$0
Rene Isuk
Director
$0
Rochelle Washington
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $260,000
All other contributions, gifts, grants, and similar amounts not included above$6,827,759
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$7,087,759
Total Program Service Revenue$513,401
Investment income $116,156
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 $7,717,316

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