Civic Intelligence

New American Development Center

990 • Fiscal year 2023 • EIN 32-0241006

Jan 01, 2023 to Dec 31, 2023 • Filed on Apr 23, 2024

Organization Profilewww.nadcmn.org
2614 Nicollet AveMinneapolis, MN 55408

(612) 823-0180

Siviq Scores

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

Liabilities / Assets

71st percentile

0.24x

Higher debt load relative to assets than 71% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

90th percentile

1.37x

Higher debt load relative to revenue than 90% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

6th percentile

-58%

Higher net margin than 6% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

13th percentile

-10%

Faster asset growth than 13% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

2nd percentile

-84%

Faster revenue growth than 2% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets71st percentile

Assets

Down

$3,606,546

Down $324,130 (-8.2%) from 2021

Net Assets

Up

$2,731,152

Up $190,951 (+7.5%) from 2021

Liabilities

Down

$875,394

Down $515,081 (-37%) from 2021

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin6th percentile

Revenue

Down

$639,169

Down $8,482,863 (-93%) from 2021

Expenses

Down

$1,010,335

Down $6,382,255 (-86%) from 2021

Net Income

Down

-$371,166

Down $2,100,608 (-121%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

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

$6.0M$4.0M$2.0M$0Assets 2012: $15,014Liabilities 2012: $0Net Assets 2012: $15,0142012Assets 2013: $29,352Liabilities 2013: $0Net Assets 2013: $29,3522013Assets 2014: $32,002Liabilities 2014: $1,750Net Assets 2014: $30,2522014Assets 2016: $61,866Liabilities 2016: $0Net Assets 2016: $61,8662016Assets 2017: $86,304Liabilities 2017: $0Net Assets 2017: $86,3042017Assets 2018: $54,376Liabilities 2018: $0Net Assets 2018: $54,3762018Assets 2020: $4,759,682Liabilities 2020: $3,737,881Net Assets 2020: $1,021,8012020Assets 2021: $3,930,676Liabilities 2021: $1,390,475Net Assets 2021: $2,540,2012021Assets 2023: $3,606,546Liabilities 2023: $875,394Net Assets 2023: $2,731,1522023Assets 2024: $3,468,399Liabilities 2024: $599,478Net Assets 2024: $2,868,9212024

Highlighted filing

2023

Assets$3,606,546
Liabilities$875,394
Net Assets$2,731,152
Open 2023 Filing

Operations Trend

Revenue Growth2nd percentile

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

$10M$5.0M$0-$5.0MExpenses 2012: $86,1862012Revenue 2013: $120,900Expenses 2013: $106,562Net Income 2013: $14,3382013Revenue 2014: $90,500Expenses 2014: $89,600Net Income 2014: $9002014Revenue 2016: $182,407Expenses 2016: $154,398Net Income 2016: $28,0092016Revenue 2017: $236,702Expenses 2017: $212,264Net Income 2017: $24,4382017Revenue 2018: $200,897Expenses 2018: $177,406Net Income 2018: $23,4912018Revenue 2020: $1,906,057Expenses 2020: $964,533Net Income 2020: $941,5242020Revenue 2021: $9,122,032Expenses 2021: $7,392,590Net Income 2021: $1,729,4422021Revenue 2023: $639,169Expenses 2023: $1,010,335Net Income 2023: -$371,1662023Revenue 2024: $1,789,839Expenses 2024: $1,583,286Net Income 2024: $206,5532024

Highlighted filing

2023

Revenue$639,169
Expenses$1,010,335
Net Income-$371,166
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Apr 23, 2024
Return Version
2023v5.0
Gross Receipts
$639,169
Mission and Program Overview

Mission

Building a strong and vibrant African community through sustainable community and economic development programs by leveraging resources and addressing cultural needs

Built a strong vibrant communit ty through sustainable community and economic development programs by leveraging resources and addressing cultural needs

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$4,017,621$3,407,416▼ $610,205
Accounts Receivable-$65,900-
Land, Buildings, and Equipment, Net$9,204$8,657▼ $547
Total Assets$4,026,825$3,606,546▼ $420,279
Other Assets Total-$124,573-
Liabilities
Unsecured Notes Loans Payable$457,515$457,515→ $0
Accounts Payable and Accrued Expenses$442,909$386,343▼ $56,566
Other Liabilities$24,083$31,536▲ $7,453
Total Liabilities$924,507$875,394▼ $49,113
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,102,318$2,731,152▼ $371,166
Total Net Assets Fund Balance$3,102,318$2,731,152▼ $371,166
Total Liabilities and Net Assets / Fund Balance$4,026,825$3,606,546▼ $420,279

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$8,657$1,641-
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Abdi Sheik NurBoard Chair
Abdihakim ABoard Member
Fatah OsmanBoard Member
Asad AliweydDirector
Abdinasir HBaord Member
Mahad AliSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$637,742
Program Service Revenue
$0
Investment Income
$1,427
Other Revenue
$0
Change in Net Assets
$-371,166
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$679,360
Salaries, Compensation, and Employee Benefits$330,975
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$99,555$136,413-$235,968
Other Salaries and Wages$120,730--$120,730
Fees for Services Accounting$113,928--$113,928
Current Officers, Directors, Trustees, and Key Employees$113,723--$113,723
Fees for Services Legal$100,684--$100,684
Payroll Taxes$62,794$25,228-$88,022
All Other Expenses$31,539$18,520-$50,059
Fees for Services Management-$26,285-$26,285
Occupancy-$22,000-$22,000
Office Expenses-$20,974-$20,974
Conferences and Meetings$10,143$2,489-$12,632
Advertising$8,668--$8,668
Other Employee Benefits$8,500--$8,500
Insurance-$6,557-$6,557
Depreciation Depletion-$547--
Total Functional Expenses$739,822$271,060$0$1,010,335
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
SBA Loan$457,515
Vendor Payment Accrual$386,343
Federal Income Tax$12,270
Undisbursed Grant$7,589
Minnesota Income Tax$5,526
Small Business Grant Pay$3,312
Unemployment Taxes$2,839
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
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
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
New American Development Cente
EIN
32-0241006
Address
2614 Nicollet Ave, MINNEAPOLIS, MN 55408

Signing Officer

Name
Asad Aliweyd
Title
Executive Director
Phone
6128230180
Signed
2024-04-23
Discuss with paid preparer
No

Organization Details

Principal Officer
Asad Aliweyd
Formed
2008
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
0
Employees
5

Preparer

Firm
Expert Accounting & Tax
Address
1421 Park Ave, MINNEAPOLIS, MN 55404
Preparer
Mohamed
Supplemental Narrative

Additional Explanations

990 Distribution

“The board members recieve a copy of 990 for review and approval prior to submission and filing.”

Conflict of Interest Monitoring

“The organization monior periodically if there is any potential risk of conflict of interest and ensure preventation and mitigation measures in place to address it in advance”

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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/TotalAssetsGrp/BOYAmt04026825
IRS990/TotalAssetsGrp/EOYAmt03606546
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0637742
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0271060
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0739822
IRS990/TotalFunctionalExpensesGrp/TotalAmt01010335
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0924507
IRS990/TotalLiabilitiesEOYAmt0875394
IRS990/TotalLiabilitiesGrp/BOYAmt0924507
IRS990/TotalLiabilitiesGrp/EOYAmt0875394
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03102318
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02731152
IRS990/TotalProgramServiceExpensesAmt01010336
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01427
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0639169
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04026825
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03606546
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0457515
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0457515
IRS990/USAddress/AddressLine1Txt02641 Nicollet Ave
IRS990/USAddress/CityNm0MINNEAPOLIS
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055408
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt00
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Asad Aliweyd
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum06128230180
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-04-23
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0New American Development Cente
ReturnHeader/Filer/BusinessNameControlTxt0NEWA
ReturnHeader/Filer/EIN0320241006
ReturnHeader/Filer/USAddress/AddressLine1Txt02614 Nicollet Ave
ReturnHeader/Filer/USAddress/CityNm0MINNEAPOLIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055408
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Expert Accounting & Tax
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01421 Park Ave
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MINNEAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055404
ReturnHeader/PreparerPersonGrp/PreparationDt02024-04-24
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Mohamed
ReturnHeader/ReturnTs02024-10-27T02:10:23-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$3,606,546
Liabilities
$875,394
Net assets
$2,731,152
Revenue
$639,169
Expenses
$1,010,335
Net income
-$371,166
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.47$0.60$2.87$1.79$1.58$0.21
2023Detailed filing. Detailed filing data is available for this year.$3.61$0.88$2.73$0.64$1.01$0.37
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.93$1.39$2.54$9.12$7.39$1.73
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.76$3.74$1.02$1.91$0.96$0.94
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.05$0.00$0.05$0.20$0.18$0.02
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.09$0.00$0.09$0.24$0.21$0.02
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.06$0.00$0.06$0.18$0.15$0.03
2014Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$0.09$0.09$0.00
2013Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$0.12$0.11$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.02$0.00$0.02$0.09