Civic Intelligence

African Development Center

990 • Fiscal year 2024 • EIN 20-0553370

Jan 01, 2024 to Dec 31, 2024 • Filed on Nov 06, 2025

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

70th percentile

0.40x

Higher debt load relative to assets than 70% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

89th percentile

2.13x

Higher debt load relative to revenue than 89% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

92nd percentile

60%

Higher net margin than 92% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

64th percentile

$230,592

Higher top officer pay than 64% of similar nonprofits.

Top officer pay equals 5.0% of source-year revenue.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

74th percentile

14%

Faster asset growth than 74% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

18th percentile

-12%

Faster revenue growth than 18% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$24,797,186

Up $3,073,798 (+14%) from 2023

Net Assets

Up

$15,001,933

Up $2,764,720 (+23%) from 2023

Liabilities

Up

$9,795,253

Up $309,078 (+3.3%) from 2023

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin92nd percentile

Revenue

Down

$4,603,972

Down $601,938 (-12%) from 2023

Expenses

Up

$1,839,252

Up $150,855 (+8.9%) from 2023

Net Income

Down

$2,764,720

Down $752,793 (-21%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth74th 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

2024

Assets$24,797,186
Liabilities$9,795,253
Net Assets$15,001,933
Open 2024 Filing

Operations Trend

Revenue Growth18th 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

2024

Revenue$4,603,972
Expenses$1,839,252
Net Income$2,764,720
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 6, 2025
Return Version
2024v5.2
Gross Receipts
$4,603,972
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$11,533,547$11,703,245▲ $169,698
Cash and Non-Interest-Bearing Accounts$8,530,509$10,628,244▲ $2,097,735
Pledges and Grants Receivable$1,307,724$1,408,722▲ $100,998
Investments Other Securities-$736,471-
Savings and Temporary Cash Investments$263,841$264,691▲ $850
Land, Buildings, and Equipment, Net$13,613$43,081▲ $29,468
Prepaid Expenses and Deferred Charges$74,154$12,732▼ $61,422
Total Assets$21,723,388$24,797,186▲ $3,073,798
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,193,677$5,707,118▲ $513,441
Unsecured Notes Loans Payable$2,450,000$2,350,000▼ $100,000
Other Liabilities$1,643,374$1,407,285▼ $236,089
Deferred Revenue$114,912$193,171▲ $78,259
Accounts Payable and Accrued Expenses$84,212$137,679▲ $53,467
Total Liabilities$9,486,175$9,795,253▲ $309,078
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$11,987,213$14,991,933▲ $3,004,720
Net Assets With Donor Restrictions$250,000$10,000▼ $240,000
Total Net Assets Fund Balance$12,237,213$15,001,933▲ $2,764,720
Total Liabilities and Net Assets / Fund Balance$21,723,388$24,797,186▲ $3,073,798

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$33,497$302,506$336,003
Leasehold Improvements$9,584$5,175$14,759
Compensation and Service Providers
Top Officer Pay64th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Nasibu SarevaCEOFT$201,711$28,881$230,592
Felicia RavelomanatsoaCFOFT$123,725$13,488$137,213

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
$3,057,277
Program Service Revenue
$1,434,968
Investment Income
$111,727
Other Revenue
$0
All Other Contributions
$621,709
Change in Net Assets
$2,764,720
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$932,653
Salaries, Compensation, and Employee Benefits$906,599
Total Fundraising Expense$49,747
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$385,977$26,490$40,458$452,925
Current Officers, Directors, Trustees, and Key Employees$321,687$46,118-$367,805
Occupancy$180,171$31,794-$211,965
Interest$184,225$3,146$1,780$189,151
Travel$78,448$18,513-$96,961
Fees for Services Accounting$75,789$12,847$210$88,846
Fees for Services Other$60,979$7,300$301$68,580
Payroll Taxes$43,796$4,294$2,570$50,660
Fees for Services Legal$39,591$6,988-$46,579
Other Employee Benefits$30,944$489$3,776$35,209
Office Expenses$26,834$2,513$22$29,369
Other Expenses$14,296$2,619-$16,915
Conferences and Meetings$12,623$2,057-$14,680
All Other Expenses$12,535$1,930-$14,465
Insurance$9,878$1,107$351$11,336
Advertising$10,325$982-$11,307
Depreciation Depletion$5,189$360$279$5,828
Total Functional Expenses$1,619,958$169,547$49,747$1,839,252
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$693,735
Current Portion of Due to Cped$567,465
Funds Held for Grants and Loans$94,414
Loan Participations$51,671
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
2025-11-06
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 2024 or 2023. Management believes that adc and its subsidiaries have no uncertain income tax positions.”

Raw XML AppendixShowing 400 of 562 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.

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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/GovernmentGrantsAmt02435568
IRS990/GrantAmt00
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt04603972
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt011
IRS990/IndivRcvdGreaterThan100KCnt02
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/FundraisingAmt0351
IRS990/InsuranceGrp/ManagementAndGeneralAmt01107
IRS990/InsuranceGrp/ProgramServicesAmt09878
IRS990/InsuranceGrp/TotalAmt011336
IRS990/InterestGrp/FundraisingAmt01780
IRS990/InterestGrp/ManagementAndGeneralAmt03146
IRS990/InterestGrp/ProgramServicesAmt0184225
IRS990/InterestGrp/TotalAmt0189151
IRS990/InvestmentIncomeGrp/ExclusionAmt0111727
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0111727
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt0736471
IRS990/IRPDocumentCnt019
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0307681
IRS990/LandBldgEquipBasisNetGrp/BOYAmt013613
IRS990/LandBldgEquipBasisNetGrp/EOYAmt043081
IRS990/LandBldgEquipCostOrOtherBssAmt0350762
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/BOYAmt05193677
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt05707118
IRS990/NetAssetsOrFundBalancesBOYAmt012237213
IRS990/NetAssetsOrFundBalancesEOYAmt015001933
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt011987213
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt014991933
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt031794
IRS990/OccupancyGrp/ProgramServicesAmt0180171
IRS990/OccupancyGrp/TotalAmt0211965
IRS990/OfficeExpensesGrp/FundraisingAmt022
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt02513
IRS990/OfficeExpensesGrp/ProgramServicesAmt026834
IRS990/OfficeExpensesGrp/TotalAmt029369
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt03776
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0489
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt030944
IRS990/OtherEmployeeBenefitsGrp/TotalAmt035209
IRS990/OtherExpensesGrp/Desc0BAD DEBT
IRS990/OtherExpensesGrp/Desc1LOAN RELATED EXPENSES
IRS990/OtherExpensesGrp/Desc2EQUIPMENT
IRS990/OtherExpensesGrp/Desc3TELEPHONE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt02619
IRS990/OtherExpensesGrp/ProgramServicesAmt062000
IRS990/OtherExpensesGrp/ProgramServicesAmt136751
IRS990/OtherExpensesGrp/ProgramServicesAmt227920
IRS990/OtherExpensesGrp/ProgramServicesAmt314296
IRS990/OtherExpensesGrp/TotalAmt062000
IRS990/OtherExpensesGrp/TotalAmt136751
IRS990/OtherExpensesGrp/TotalAmt227920
IRS990/OtherExpensesGrp/TotalAmt316915
IRS990/OtherLiabilitiesGrp/BOYAmt01643374
IRS990/OtherLiabilitiesGrp/EOYAmt01407285
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt040458
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt026490
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0385977
IRS990/OtherSalariesAndWagesGrp/TotalAmt0452925
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt011533547
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt011703245
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt02570
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04294
IRS990/PayrollTaxesGrp/ProgramServicesAmt043796
IRS990/PayrollTaxesGrp/TotalAmt050660
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt01307724
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01408722
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt074154
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt012732
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/RelatedOrExemptFuncIncomeAmt01215573
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1190382
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt229013
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01215573
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1190382
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt229013
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt04252837
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0121031
IRS990/PYInvestmentIncomeAmt016920
IRS990/PYOtherExpensesAmt0779598
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0936153
IRS990/PYRevenuesLessExpensesAmt03517513
IRS990/PYSalariesCompEmpBnftPaidAmt0787768
IRS990/PYTotalExpensesAmt01688397
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt05205910
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt02764720
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt01434968
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0263841
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0264691
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS INCOME - 2021 AMOUNT: $ 42,509. 2022 AMOUNT: $ 7,800. 2023 AMOUNT: $ 4,835. 2024 AMOUNT: $ 29,013.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME:
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt03057277
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt04252836
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt03335602
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt03678064
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt02983222
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt017307001
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0111727
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt016920
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0387342
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0288730
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt07967
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0812686
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt03153709
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt029013
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt04835
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt07800
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt042509
IRS990ScheduleA/OtherIncome170Grp/TotalAmt084157
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.80540
IRS990ScheduleA/PublicSupportPY170Pct00.79420
IRS990ScheduleA/PublicSupportTotal170Amt014661501
IRS990ScheduleA/SubstantialContributorsTotAmt02645500
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt03057277
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt04252836
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt03335602
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt03678064
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt02983222
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt017307001
IRS990ScheduleA/TotalSupportAmt018203844
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/BookValueAmt033497
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0302506
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0336003
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt09584
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt05175
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt014759
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0567465
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt151671
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2693735
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt394414
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CURRENT PORTION OF DUE TO CPED
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LOAN PARTICIPATIONS
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 2024 OR 2023. MANAGEMENT BELIEVES THAT ADC AND ITS SUBSIDIARIES HAVE NO UNCERTAIN INCOME TAX POSITIONS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt043081
IRS990ScheduleD/TotalLiabilityAmt01407285

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Filings

Displayed year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$24,797,186
Liabilities
$9,795,253
Net assets
$15,001,933
Revenue
$4,603,972
Expenses
$1,839,252
Net income
$2,764,720
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