Metropolitan Economic Development Association

Organization Overview

Metropolitan Economic Development Association is located in Minneapolis, MN. The organization was established in 1971. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Metropolitan Economic Development Association employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Metropolitan Economic Development Association 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, Metropolitan Economic Development Association generated $12.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.7% each year . All expenses for the organization totaled $7.9m during the year ending 12/2021. While expenses have increased by 12.1% 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.

Since 2016, Metropolitan Economic Development Association has awarded 35 individual grants totaling $493,500. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

HELPING MINORITY ENTREPRENEURS SUCCEED.

Describe the Organization's Program Activity:

Part 3 - Line 4a

MEDA'S MISSION IS TO HELP BIPOC ENTREPRENEURS SUCCEED. OUR THEORY OF CHANGE IS THAT SUCCESSFUL BIPOC ENTREPRENEURSHIP CREATES WEALTH IN COMMUNITIES OF COLOR WHICH IS A PRIMARY STRATEGY TO BUILD A MORE JUST AND FAIR ECONOMY. TO FULFIL OUR MISSION, MEDA PROVIDES INTEGRATED, WRAP-AROUND SERVICES IN THE AREAS ALL ENTREPRENEURS NEED TO BE SUCCESSFUL TO GROW AND SCALE THEIR BUSINESSES- MANAGEMENT EDUCATION, MONEY AND MARKET. MEDA'S SERVICES AND PRODUCTS ARE AVAILABLE TO BLACK, INDIGENOUS, PEOPLE OF COLOR (BIPOC) ENTREPRENEURS EXCLUSIVELY. IN 2021, MEDA FOCUSED AGAIN ON HELPING BIPOC ENTREPRENEURS RESPOND TO, RECOVER FROM, AND RETOOL FOR THE COVID-19 PANDEMIC. WE PROVIDED EMERGENCY AND SOPHISTICATED BUSINESS CONSULTING TO HELP BIPOC BUSINESSES RE-OPEN THEIR DOORS. OUR CDFI PROVIDED PAYCHECK PROTECTION PROGRAM FUNDING, LINES OF CREDIT AND OTHER TERM DEBT PRODUCTS TO FUND HIRING, INVENTORY AND EQUIPMENT. MEDA'S MINNESOTA MBDA BUSINESS CENTER AND ASCEND TWIN CITIES CONNECTED BIPOC CONTRACTORS TO SECURE CONTRACTS THAT LEAD TO SUSTAINABLE GROWTH.IN ALL, MEDA SERVED 702 BIPOC ENTREPRENEURS, HELPING THEM SECURE $24.1 MILLION IN FINANCE AND WINNING $50.3 MILLION IN CONTRACTS. THESE RESULTS LED TO THE CREATION OR MAINTENANCE OF 1,632 JOBS IN THESE BUSINESSES.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Fredrikson & Byron Pa
Legal Services
$239,720
The Financial Services Consulting
Program Consulting
$109,330
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $2,388,935
All other contributions, gifts, grants, and similar amounts not included above$7,660,244
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$10,049,179
Total Program Service Revenue$2,009,557
Investment income $275
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 $12,064,856

Grants Awarded

Over the last fiscal year, Metropolitan Economic Development Association has awarded $325,000 in support to 27 organizations.

Grant RecipientAmount

C STONE LANDSCAPE LLC

PURPOSE: COVID Mitigation/Recovery Grants

$20,000

TLC MILLIMETER WAVE PRODUCTS INC

PURPOSE: COVID Mitigation/Recovery Grants

$15,000

MIDWEST SELECT CONTRACTING LLC

PURPOSE: COVID Mitigation/Recovery Grants

$15,000

JAB HOLDINGS LLC

PURPOSE: COVID Mitigation/Recovery Grants

$15,000

YAHWEH LAUNDROMAT AND CLEANING SERVICES

PURPOSE: COVID Mitigation/Recovery Grants

$15,000

ARCHIVED EXPRESSIONS LLC DBA MIND'S EYE COMICS

PURPOSE: COVID Mitigation/Recovery Grants

$15,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Metropolitan Economic Development Association has recieved totaling $200,000.

Awarding OrganizationAmount
Deluxe Corporation Foundation

Cleveland, OH

PURPOSE: GENERAL OPERATING SUPPORT

$100,000
Deluxe Corporation Foundation

Cleveland, OH

PURPOSE: GENERAL OPERATING SUPPORT

$100,000
View Grant Recipient Profile

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