Civic Intelligence

African Development Center

990 • Fiscal year 2023 • EIN 20-0553370

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 12, 2024

Organization ProfileWWW.ADCMINNESOTA.ORG
1931 5th Street SouthMinneapolis, MN 55454

(612) 333-4772

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.44x

Higher debt load relative to assets than 72% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

87th percentile

1.82x

Higher debt load relative to revenue than 87% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

94th percentile

68%

Higher net margin than 94% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

57th percentile

$202,272

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 3.9% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

79th percentile

22%

Faster asset growth than 79% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

80th percentile

30%

Faster revenue growth than 80% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Up

$21,723,388

Up $3,971,239 (+22%) from 2022

Net Assets

Up

$12,237,213

Up $3,517,513 (+40%) from 2022

Liabilities

Up

$9,486,175

Up $453,726 (+5.0%) from 2022

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin94th percentile

Revenue

Up

$5,205,910

Up $1,202,949 (+30%) from 2022

Expenses

Down

$1,688,397

Down $480,386 (-22%) from 2022

Net Income

Up

$3,517,513

Up $1,683,335 (+92%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth79th percentile

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

2023

Assets$21,723,388
Liabilities$9,486,175
Net Assets$12,237,213
Open 2023 Filing

Operations Trend

Revenue Growth80th percentile

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

2023

Revenue$5,205,910
Expenses$1,688,397
Net Income$3,517,513
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 12, 2024
Return Version
2023v5.1
Gross Receipts
$5,205,910
Mission and Program Overview

Mission

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

Grow businesses, build wealth and increase reinvestement in the african communities of minnesota

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$8,421,033$11,533,547▲ $3,112,514
Cash and Non-Interest-Bearing Accounts$7,576,855$8,530,509▲ $953,654
Pledges and Grants Receivable$1,266,035$1,307,724▲ $41,689
Savings and Temporary Cash Investments$463,313$263,841▼ $199,472
Prepaid Expenses and Deferred Charges$2,854$74,154▲ $71,300
Land, Buildings, and Equipment, Net$17,593$13,613▼ $3,980
Accounts Receivable$4,466--
Total Assets$17,752,149$21,723,388▲ $3,971,239
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,058,874$5,193,677▲ $134,803
Unsecured Notes Loans Payable$1,700,000$2,450,000▲ $750,000
Other Liabilities$1,996,403$1,643,374▼ $353,029
Deferred Revenue$181,982$114,912▼ $67,070
Accounts Payable and Accrued Expenses$95,190$84,212▼ $10,978
Total Liabilities$9,032,449$9,486,175▲ $453,726
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$7,860,850$11,987,213▲ $4,126,363
Net Assets With Donor Restrictions$858,850$250,000▼ $608,850
Total Net Assets Fund Balance$8,719,700$12,237,213▲ $3,517,513
Total Liabilities and Net Assets / Fund Balance$17,752,149$21,723,388▲ $3,971,239

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,451$297,257$300,708
Leasehold Improvements$10,162$4,597$14,759
Compensation and Service Providers
Top Officer Pay57th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Nasibu SarevaCEOFT$174,811$27,461$202,272
Felicia RavelomanatsoaCFOFT$115,040$10,555$125,595

Board Members and Trustees

NameTitle
Jo Ann VanoBoard President
Leah MteghaBoard Secretary
Bruce W NordinDirector
Daika IsmailDirector
Damon JenkinsDirector
Edwin MigiroDirector
Kaade WallaceDirector
Mike StinsonDirector
Scott BrophyDirector
Sean WoldDirector
Ubah Ali JamaDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$4,252,837
Program Service Revenue
$936,153
Investment Income
$16,920
Other Revenue
$0
All Other Contributions
$1,035,543
Change in Net Assets
$3,517,513
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$787,768
Other Expenses$779,598
Grants and Similar Amounts Paid$121,031
Total Fundraising Expense$47,275
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$310,276$27,614$37,040$374,930
Current Officers, Directors, Trustees, and Key Employees$287,413$40,454-$327,867
Interest$178,037$2,220$1,634$181,891
Occupancy$119,626$21,110-$140,736
Grants to Domestic Orgs$121,031--$121,031
Fees for Services Accounting$83,190$14,196$251$97,637
Fees for Services Other$59,722$6,308$1,088$67,118
Travel$37,714$12,555-$50,269
Payroll Taxes$42,391$4,543$3,107$50,041
Other Employee Benefits$30,741$777$3,412$34,930
Fees for Services Legal$25,781$4,562-$30,343
Office Expenses$20,973$2,848$205$24,026
Conferences and Meetings$13,377$2,379-$15,756
Other Expenses$12,606$2,219-$14,825
All Other Expenses$10,562$1,611$9$12,182
Insurance$9,457$1,100$336$10,893
Depreciation Depletion$3,537$250$193$3,980
Advertising$3,320--$3,320
Total Functional Expenses$1,493,769$147,353$47,275$1,688,397
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Geire Properties IncMinneapolis, MN-To Help Small Business$18,805
Arwa Fashion USA CoMinneapolis, MN-To Help Small Business$15,000
Addis Travel Services LLCSt Paul, MN-To Help Small Business$7,500
Nabil Property LLCEden Prairie, MN-To Help Small Business$7,500
Photo Shop LLCBrooklyn Park, MN-To Help Small Business$7,500
Procare Health CorpEden Prairie, MN-To Help Small Business$7,500
Godson Trucking LLCWoodbury, MN-To Help Small Business$6,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Current Portion Due to State of Minnesota$1,019,698
Current Portion of Due to Cped$508,326
Loan Participations, Less Current Portion$62,517
Funds Held for Grants and Loans$52,833
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 1A

“The executive committee has the authority to act on behalf of the board of directors.”

Form 990, Part VI, Section B, Line 11B

“The board reviews and approves the 990 before it is filed.”

Form 990, Part VI, Section B, Line 12C

“The conflict of interest policy covers any interested person that includes the adc board of directors, officers, employees, or members of a committee with board-delegated powers. When a potential conflict of interest exists, the interested person must disclose the matter to the directors and members of committees with board-delegated powers. After disclosure, the board or committee shall exclude the interested person and vote on whether a conflict of interest exists. Proceedings related to a potential conflict of interest are documented in the board minutes.”

Form 990, Part VI, Section B, Line 15

“Employees fill out an evaluation form that will be discussed by the board of directors for the ceos compensation increment. The ceo evaluates employee's performances and determines the compensation based on their performances and comparability data. At the end of the year, the board meets and votes on the ceo's compensation based on performance and compariability data. The process described here was last completed in 2023.”

Form 990, Part VI, Section C, Line 19

“The governing documents, conflict of interest policy, and finanical statements are available to the public and are always posted on the organization's website.”

Filing and Contact Details

Filer

Filer Name
African Development Center
EIN
20-0553370
Phone
6123334772
Address
1931 5TH STREET SOUTH, MINNEAPOLIS, MN 55454

Signing Officer

Name
Nasibu Sareva
Title
CEO
Phone
6123334772
Signed
2024-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nasibu Sareva
Formed
2002
Legal Domicile
Mn
Voting Board Members
11
Independent Board Members
11
Employees
11
Volunteers
40

Preparer

Firm
Cliftonlarsonallen Llp
Address
220 S 6TH STREET SUITE 300, MINNEAPOLIS, MN 55402
Preparer
Deirdre Hodgson
Phone
6123764500
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“Adc is classified as a tax-exempt organization under minnesota statute 290.05 and section 501(c)(3) of the internal revenue code (irc), is exempt from private foundation status under section 509(a)(1) of the irc and is subject to income taxes only on net unrelated business income. Adc did not have any unrelated business income in 2022 or 2021. Management believes that adc and its subsidiaries have no uncertain income tax positions.”

Raw XML AppendixShowing 400 of 649 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt095190
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt084212
IRS990/AccountsReceivableGrp/BOYAmt04466
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0GROW BUSINESSES, BUILD WEALTH AND INCREASE REINVESTEMENT IN THE AFRICAN COMMUNITIES OF MINNESOTA
IRS990/AdvertisingGrp/ProgramServicesAmt03320
IRS990/AdvertisingGrp/TotalAmt03320
IRS990/AllOtherContributionsAmt01035543
IRS990/AllOtherExpensesGrp/FundraisingAmt09
IRS990/AllOtherExpensesGrp/ManagementAndGeneralAmt01611
IRS990/AllOtherExpensesGrp/ProgramServicesAmt010562
IRS990/AllOtherExpensesGrp/TotalAmt012182
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0NASIBU SAREVA
IRS990/BooksInCareOfDetail/PhoneNum06123334772
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt01931 SOUTH 5TH STREET
IRS990/BooksInCareOfDetail/USAddress/CityNm0MINNEAPOLIS
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MN
IRS990/BooksInCareOfDetail/USAddress/ZIPCd055454
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CashNonInterestBearingGrp/BOYAmt07576855
IRS990/CashNonInterestBearingGrp/EOYAmt08530509
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt040454
IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt0287413
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0327867
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd01
IRS990/ConferencesMeetingsGrp/ManagementAndGeneralAmt02379
IRS990/ConferencesMeetingsGrp/ProgramServicesAmt013377
IRS990/ConferencesMeetingsGrp/TotalAmt015756
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd01
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt04252837
IRS990/CYGrantsAndSimilarPaidAmt0121031
IRS990/CYInvestmentIncomeAmt016920
IRS990/CYOtherExpensesAmt0779598
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt0936153
IRS990/CYRevenuesLessExpensesAmt03517513
IRS990/CYSalariesCompEmpBnftPaidAmt0787768
IRS990/CYTotalExpensesAmt01688397
IRS990/CYTotalFundraisingExpenseAmt047275
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt05205910
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DeferredRevenueGrp/BOYAmt0181982
IRS990/DeferredRevenueGrp/EOYAmt0114912
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/FundraisingAmt0193
IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt0250
IRS990/DepreciationDepletionGrp/ProgramServicesAmt03537
IRS990/DepreciationDepletionGrp/TotalAmt03980
IRS990/Desc0ADC'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. ADC MADE 106 LOANS IN 2023 WITH A TOTAL APPROVED LOAN AMOUNT OF $13,859,546 AND THEY LEVERAGED OVER $44 MILLION. FROM OUR 2023 LOANS, 140.5 JOBS HAVE BEEN RETAINED AND 253.5 NEW JOBS HAVE BEEN CREATED. THE GREAT MAJORITY OF THESE LOANS AND JOBS CREATED AND RETAINED ARE BLACK-OWNED AND OPERATED SMALL BUSINESSES. 96% OF OUR LOAN DOLLARS WENT TO BLACK-OWNED BUSINESSES AND 47% WENT TO WOMEN-OWNED BUSINESSES.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DonorAdvisedFundInd00
IRS990/DonorRestrictionNetAssetsGrp/BOYAmt0858850
IRS990/DonorRestrictionNetAssetsGrp/EOYAmt0250000
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt011
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt01493769
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditPerformedInd01
IRS990/FederalGrantAuditRequiredInd01
IRS990/FeesForServicesAccountingGrp/FundraisingAmt0251
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt014196
IRS990/FeesForServicesAccountingGrp/ProgramServicesAmt083190
IRS990/FeesForServicesAccountingGrp/TotalAmt097637
IRS990/FeesForServicesLegalGrp/ManagementAndGeneralAmt04562
IRS990/FeesForServicesLegalGrp/ProgramServicesAmt025781
IRS990/FeesForServicesLegalGrp/TotalAmt030343
IRS990/FeesForServicesOtherGrp/FundraisingAmt01088
IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt06308
IRS990/FeesForServicesOtherGrp/ProgramServicesAmt059722
IRS990/FeesForServicesOtherGrp/TotalAmt067118
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt01.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt51.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt61.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt71.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt81.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt91.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt101.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1150.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1250.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd8X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd9X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd10X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1127461
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1210555
IRS990/Form990PartVIISectionAGrp/PersonNm0JO ANN VANO
IRS990/Form990PartVIISectionAGrp/PersonNm1LEAH MTEGHA
IRS990/Form990PartVIISectionAGrp/PersonNm2UBAH ALI JAMA
IRS990/Form990PartVIISectionAGrp/PersonNm3DAIKA ISMAIL
IRS990/Form990PartVIISectionAGrp/PersonNm4MIKE STINSON
IRS990/Form990PartVIISectionAGrp/PersonNm5KAADE WALLACE
IRS990/Form990PartVIISectionAGrp/PersonNm6EDWIN MIGIRO
IRS990/Form990PartVIISectionAGrp/PersonNm7BRUCE W NORDIN
IRS990/Form990PartVIISectionAGrp/PersonNm8DAMON JENKINS
IRS990/Form990PartVIISectionAGrp/PersonNm9SCOTT BROPHY
IRS990/Form990PartVIISectionAGrp/PersonNm10SEAN WOLD
IRS990/Form990PartVIISectionAGrp/PersonNm11NASIBU SAREVA
IRS990/Form990PartVIISectionAGrp/PersonNm12FELICIA RAVELOMANATSOA
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt11174811
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt12115040
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt12CFO
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02002
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt011
IRS990/GovernmentGrantsAmt03217294
IRS990/GrantAmt0121031
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt0121031
IRS990/GrantsToDomesticOrgsGrp/TotalAmt0121031
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt05205910
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt011
IRS990/IndivRcvdGreaterThan100KCnt02
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/FundraisingAmt0336
IRS990/InsuranceGrp/ManagementAndGeneralAmt01100
IRS990/InsuranceGrp/ProgramServicesAmt09457
IRS990/InsuranceGrp/TotalAmt010893
IRS990/InterestGrp/FundraisingAmt01634
IRS990/InterestGrp/ManagementAndGeneralAmt02220
IRS990/InterestGrp/ProgramServicesAmt0178037
IRS990/InterestGrp/TotalAmt0181891
IRS990/InvestmentIncomeGrp/ExclusionAmt016920
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt016920
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt019
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0301854
IRS990/LandBldgEquipBasisNetGrp/BOYAmt017593
IRS990/LandBldgEquipBasisNetGrp/EOYAmt013613
IRS990/LandBldgEquipCostOrOtherBssAmt0315467
IRS990/LegalDomicileStateCd0MN
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0GROW BUSINESSES, BUILD WEALTH AND INCREASE REINVESTEMENT IN THE AFRICAN COMMUNITIES OF MINNESOTA
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt05058874
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt05193677
IRS990/NetAssetsOrFundBalancesBOYAmt08719700
IRS990/NetAssetsOrFundBalancesEOYAmt012237213
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt07860850
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt011987213
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt021110
IRS990/OccupancyGrp/ProgramServicesAmt0119626
IRS990/OccupancyGrp/TotalAmt0140736
IRS990/OfficeExpensesGrp/FundraisingAmt0205
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt02848
IRS990/OfficeExpensesGrp/ProgramServicesAmt020973
IRS990/OfficeExpensesGrp/TotalAmt024026
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt03412
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0777
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt030741
IRS990/OtherEmployeeBenefitsGrp/TotalAmt034930
IRS990/OtherExpensesGrp/Desc0BAD DEBT
IRS990/OtherExpensesGrp/Desc1LOAN RELATED EXPENSES
IRS990/OtherExpensesGrp/Desc2EQUIPMENT
IRS990/OtherExpensesGrp/Desc3TELEPHONE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt02607
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12219
IRS990/OtherExpensesGrp/ProgramServicesAmt060000
IRS990/OtherExpensesGrp/ProgramServicesAmt149258
IRS990/OtherExpensesGrp/ProgramServicesAmt214757
IRS990/OtherExpensesGrp/ProgramServicesAmt312606
IRS990/OtherExpensesGrp/TotalAmt060000
IRS990/OtherExpensesGrp/TotalAmt149258
IRS990/OtherExpensesGrp/TotalAmt217364
IRS990/OtherExpensesGrp/TotalAmt314825
IRS990/OtherLiabilitiesGrp/BOYAmt01996403
IRS990/OtherLiabilitiesGrp/EOYAmt01643374
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt037040
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt027614
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0310276
IRS990/OtherSalariesAndWagesGrp/TotalAmt0374930
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt08421033
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt011533547
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt03107
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04543
IRS990/PayrollTaxesGrp/ProgramServicesAmt042391
IRS990/PayrollTaxesGrp/TotalAmt050041
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt01266035
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01307724
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02854
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt074154
IRS990/PrincipalOfficerNm0NASIBU SAREVA
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522291
IRS990/ProgramServiceRevenueGrp/BusinessCd1522291
IRS990/ProgramServiceRevenueGrp/BusinessCd2522291
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST INCOME-LOANS
IRS990/ProgramServiceRevenueGrp/Desc1PROGRAM SERVICE FEES
IRS990/ProgramServiceRevenueGrp/Desc2OTHER PROGRAM REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0566158
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1365160
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt24835
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0566158
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1365160
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt24835
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt03335602
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0340456
IRS990/PYInvestmentIncomeAmt06345
IRS990/PYOtherExpensesAmt01096153
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0661014
IRS990/PYRevenuesLessExpensesAmt01834178
IRS990/PYSalariesCompEmpBnftPaidAmt0732174
IRS990/PYTotalExpensesAmt02168783
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt04002961
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt03517513
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0936153
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0463313
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0263841
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS INCOME - 2021 AMOUNT: $ 42,509. 2022 AMOUNT: $ 7,800. 2023 AMOUNT: $ 0.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME:
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt04252836
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt03335602
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt03678064
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt02983222
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01156301
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt015406025
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt016920
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0387342
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0288730
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt07967
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt04258
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0705217
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt01718741
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt07800
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt042509
IRS990ScheduleA/OtherIncome170Grp/TotalAmt050309
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.79420
IRS990ScheduleA/PublicSupportPY170Pct00.74690
IRS990ScheduleA/PublicSupportTotal170Amt012835533
IRS990ScheduleA/SubstantialContributorsTotAmt02570492
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt04252836
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt03335602
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt03678064
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt02983222
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01156301
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt015406025
IRS990ScheduleA/TotalSupportAmt016161551
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt03451
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0297257
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0300708
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt010162
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt04597
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt014759
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0508326
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt162517
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt21019698
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt352833
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CURRENT PORTION OF DUE TO CPED
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LOAN PARTICIPATIONS, LESS CURRENT PORTION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2CURRENT PORTION DUE TO STATE OF MINNESOTA
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3FUNDS HELD FOR GRANTS AND LOANS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ADC IS CLASSIFIED AS A TAX-EXEMPT ORGANIZATION UNDER MINNESOTA STATUTE 290.05 AND SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC), IS EXEMPT FROM PRIVATE FOUNDATION STATUS UNDER SECTION 509(A)(1) OF THE IRC AND IS SUBJECT TO INCOME TAXES ONLY ON NET UNRELATED BUSINESS INCOME. ADC DID NOT HAVE ANY UNRELATED BUSINESS INCOME IN 2022 OR 2021. MANAGEMENT BELIEVES THAT ADC AND ITS SUBSIDIARIES HAVE NO UNCERTAIN INCOME TAX POSITIONS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt013613

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$21,723,388
Liabilities
$9,486,175
Net assets
$12,237,213
Revenue
$5,205,910
Expenses
$1,688,397
Net income
$3,517,513
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
2023Detailed filing. Detailed filing data is available for this year.$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