Civic Intelligence

African Development Center

990 • Fiscal year 2010 • EIN 20-0553370

Jan 01, 2010 to Dec 31, 2010 • Filed on May 31, 2011

Organization ProfileWWW.ADCMINNESOTA.ORG
1931 5th Street South55454
Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

81st percentile

0.66x

Higher debt load relative to assets than 81% of similar nonprofits.

2010 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2010

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2010

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2010

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2010

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2010

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets81st percentile

Assets

$4,492,647

No earlier filing loaded for comparison.

Net Assets

$1,544,344

No earlier filing loaded for comparison.

Liabilities

$2,948,303

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

$1,006,619

No earlier filing loaded for comparison.

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2010: $4,492,647Liabilities 2010: $2,948,303Net Assets 2010: $1,544,3442010Assets 2011: $4,931,777Liabilities 2011: $3,256,829Net Assets 2011: $1,674,9482011Assets 2012: $4,055,940Liabilities 2012: $2,719,339Net Assets 2012: $1,336,6012012Assets 2013: $4,432,037Liabilities 2013: $2,935,398Net Assets 2013: $1,496,6392013Assets 2014: $3,851,584Liabilities 2014: $2,607,803Net Assets 2014: $1,243,7812014Assets 2015: $3,845,480Liabilities 2015: $2,411,941Net Assets 2015: $1,433,5392015Assets 2016: $3,543,536Liabilities 2016: $2,195,458Net Assets 2016: $1,348,0782016Assets 2017: $4,363,024Liabilities 2017: $2,901,935Net Assets 2017: $1,461,0892017Assets 2018: $6,072,582Liabilities 2018: $4,405,974Net Assets 2018: $1,666,6082018Assets 2019: $6,193,772Liabilities 2019: $4,324,494Net Assets 2019: $1,869,2782019Assets 2020: $11,261,326Liabilities 2020: $7,313,516Net Assets 2020: $3,947,8102020Assets 2021: $18,157,519Liabilities 2021: $11,271,997Net Assets 2021: $6,885,5222021Assets 2022: $17,752,149Liabilities 2022: $9,032,449Net Assets 2022: $8,719,7002022Assets 2023: $21,723,388Liabilities 2023: $9,486,175Net Assets 2023: $12,237,2132023Assets 2024: $24,797,186Liabilities 2024: $9,795,253Net Assets 2024: $15,001,9332024

Highlighted filing

2010

Assets$4,492,647
Liabilities$2,948,303
Net Assets$1,544,344
Open 2010 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $1,006,6192010Expenses 2011: $984,0802011Expenses 2012: $1,057,6682012Revenue 2013: $1,123,534Expenses 2013: $963,496Net Income 2013: $160,0382013Revenue 2014: $776,116Expenses 2014: $661,624Net Income 2014: $114,4922014Revenue 2015: $829,570Expenses 2015: $639,812Net Income 2015: $189,7582015Revenue 2016: $752,574Expenses 2016: $838,035Net Income 2016: -$85,4612016Revenue 2017: $999,211Expenses 2017: $886,200Net Income 2017: $113,0112017Revenue 2018: $1,157,798Expenses 2018: $952,278Net Income 2018: $205,5202018Revenue 2019: $1,243,063Expenses 2019: $1,040,393Net Income 2019: $202,6702019Revenue 2020: $3,230,798Expenses 2020: $1,152,266Net Income 2020: $2,078,5322020Revenue 2021: $5,342,165Expenses 2021: $1,575,452Net Income 2021: $3,766,7132021Revenue 2022: $4,002,961Expenses 2022: $2,168,783Net Income 2022: $1,834,1782022Revenue 2023: $5,205,910Expenses 2023: $1,688,397Net Income 2023: $3,517,5132023Revenue 2024: $4,603,972Expenses 2024: $1,839,252Net Income 2024: $2,764,7202024

Highlighted filing

2010

Revenue-
Expenses$1,006,619
Net Income-
Open 2010 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2010 to Dec 31, 2010
Signed
May 31, 2011
Return Version
2010v3.2
Gross Receipts
$1,547,110
Mission and Program Overview

Mission

The mission of adc is to grow businesses, build wealth and increase reinvestment in the african communities of minnesota.

Filing and Contact Details

Filer

EIN
20-0553370
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IRS990/Description0ADC'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 OFFERS THREE START-UP BUSINESS WORKSHOPS EACH YEAR. MORE THAN 88 BUSINESS CLASS GRADUATES PARTICIPATED IN WORKSHOPS IN 2010. AFTER COMPLETION OF THE WORKSHOP, CLIENTS READY TO START THEIR BUSINESSES ENGAGE IN ONE-ON-ONE GUIDANCE WITH ADC'S BUSINESS LENDERS. IN 2010, ADC HAS MADE 59 LOANS; LEVERAGED 1.14M. FOR THE THIRD YEAR IN A ROW, ADC WAS SELECTED AS THE NUMBER ONE SMALL BUSINESS LENDER IN THE CITY OF MINNEAPOLIS IN 2010, OUTPERFORMING EVEN LARGER BANKING INSTITUTIONS. ADDITIONALLY, ADC HOLDS "HOMESTRETCH" WORKSHOPS FOR FIRST TIME HOME BUYERS IN THE TWIN CITIES AND GREATER MINNESOTA. IN 2009, 362 FIRST TIME HOME BUYERS FAMILIES TRAINED. ADC HAS 42% SUCCESSFUL HOME PURCHASES AMONG HOMESTRETCH GRADUATES- THREE TIMES THE HOMESTRETCH AVERAGE FOR THE U.S.IN 2009, 71 FAMILIES COMPLETED THE HOMESTRETCH WORKSHOPS.
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IRS990ScheduleC/Form990ScheduleCPartIV/Explanation0THE AFRICAN DEVELOPMENT CENTER PAID $100 TO THE MINNEAPOLIS CONSORTIUM OF COMMUNITY DEVELOPERS FOR THE SERVICES OF A LOBBYIST THEY HIRED TO LOBBY THE STATE LEGISLATURE REGARDING FUNDING FOR THE URBAN INITIATIVE PROGRAM.
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IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation0FEDERAL AND STATE TAX AUTHORITIES GENERALLY HAVE THE RIGHT TO EXAMINE AND AUDIT THE PREVIOUS THREE YEARS OF INCOME TAX RETURNS. THE ORGANIZATION IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION. ANY INTEREST OR PENALTIES ASSESSED IS REPORTED IN MANAGEMENT AND GENERAL EXPENSES. THERE WERE NO INTEREST OR PENALTIES RECORDED IN 2010.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation1ELIMINATION OF CONSOLIDATED ENTITY 119,636.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation2ELIMINATION OF CONSOLIDATED ENTITY 119,636.
IRS990ScheduleD/Form990ScheduleDPartXIV/Identifier0DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48:
IRS990ScheduleD/Form990ScheduleDPartXIV/Identifier1PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/Form990ScheduleDPartXIV/Identifier2PART XIII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/Form990ScheduleDPartXIV/ReturnReference0PART X:
IRS990ScheduleD/InvestmentsProgramRelated/BookValue0327781
IRS990ScheduleD/InvestmentsProgramRelated/BookValue12425963
IRS990ScheduleD/InvestmentsProgramRelated/Description0INVESTMENT IN AFFILIATES
IRS990ScheduleD/InvestmentsProgramRelated/Description1LOANS RECEIVABLE
IRS990ScheduleD/InvestmentsProgramRelated/MethodOfValuation0F
IRS990ScheduleD/InvestmentsProgramRelated/MethodOfValuation1C
IRS990ScheduleD/OtherExpensesIncluded0119636
IRS990ScheduleD/OtherLiabilities/Amount095726
IRS990ScheduleD/OtherLiabilities/Amount11342035
IRS990ScheduleD/OtherLiabilities/Amount2458499
IRS990ScheduleD/OtherLiabilities/Description0FUNDS HELD FOR LOANS
IRS990ScheduleD/OtherLiabilities/Description1LOAN PARTICIPATIONS
IRS990ScheduleD/OtherLiabilities/Description2DUE TO STATE OF MINNESOTA
IRS990ScheduleD/OtherRevenues0119636
IRS990ScheduleD/RevenueNotRptdF9900131322
IRS990ScheduleD/RevenueNotRptdOnFinStmt00
IRS990ScheduleD/RevenueSubtotal01547110
IRS990ScheduleD/TotalAdjustments00
IRS990ScheduleD/TotalExpenses01006619
IRS990ScheduleD/TotalExpensesPerForm99001006619
IRS990ScheduleD/TotalOfAmounts01896260
IRS990ScheduleD/TotalOfBookValueLandBuildings075188
IRS990ScheduleD/TotalOfBookValueProgramRelated02753744
IRS990ScheduleD/TotalRevenue01547110
IRS990ScheduleD/TotalRevenuePerForm99001547110
IRS990ScheduleD/TotExpensesEtcAuditedFinclStmt01137941
IRS990ScheduleD/TotRevenueEtcAuditedFinclStmt01678432
IRS990/ScheduleJRequired00
IRS990ScheduleL/LoanTable/ApprovedByBoard01
IRS990ScheduleL/LoanTable/BalanceDue021589
IRS990ScheduleL/LoanTable/Default00
IRS990ScheduleL/LoanTable/LoanFromOrganization0X
IRS990ScheduleL/LoanTable/NamePerson0BRUCK NERAYO
IRS990ScheduleL/LoanTable/PurposeOfLoan0BUSINESS LOAN

Document Assets

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Filings

Displayed year

2010 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$4,492,647
Liabilities
$2,948,303
Net assets
$1,544,344
Revenue
-
Expenses
$1,006,619
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.8$9.80$15.0$4.60$1.84$2.76
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$21.7$9.49$12.2$5.21$1.69$3.52
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.8$9.03$8.72$4.00$2.17$1.83
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.2$11.3$6.89$5.34$1.58$3.77
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.3$7.31$3.95$3.23$1.15$2.08
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.19$4.32$1.87$1.24$1.04$0.20
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.07$4.41$1.67$1.16$0.95$0.21
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.36$2.90$1.46$1.00$0.89$0.11
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.54$2.20$1.35$0.75$0.84$0.09
2015Detailed filing. Detailed filing data is available for this year.$3.85$2.41$1.43$0.83$0.64$0.19
2014Detailed filing. Detailed filing data is available for this year.$3.85$2.61$1.24$0.78$0.66$0.11
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.43$2.94$1.50$1.12$0.96$0.16
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.06$2.72$1.34$1.06
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.93$3.26$1.67$0.98
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.49$2.95$1.54$1.01