Metropolitan Economic Development Association

“The Executive Committee is composed of three or more designated board members. Unless specified by action of the board, the Executive Committee shall have and exercise the authority of the board with respect to the business of the corporation in the intervals between meetings of the board. The Executive Committee shall at all times be subject to the control and direction of the board.”

“A draft copy of the Form 990 is provided to the Finance Audit Committee. The Finance Audit Committee reviews the draft Form 990, addressing any comments or concerns, and then makes a recommendation to the Board of Directors for approval. A copy is provided to the board and upon review and approval of the draft Form 990 by the Board of Directors the form is filed.”

“Conflict of interest statements are issued every year to all directors and employees. These individuals disclose applicable conflicts and sign as to compliance with the policy. The Meda Governance Committee reviews all statements to review any disclosed potential conflicts of interest. The Governance Committee documents any actions undertaken. The person with the conflict of interest is excluded from the discussion and approval of the activity.”

“Meda's Personnel Committee performs an annual review on the CEO. This review involves collecting feedback from the management team and the Board of Directors. The Director of Finance and Administration provides the Personnel Committee with a salary range comprised from comparatives of similar nonprofits. The Personnel Committee recommends a compensation adjustment for approval by the board. Meda uses a similar process for other officers and all employees. Each individual undergoes an annual performance review with their supervisor. Supervisors award merit adjustments from a merit pool identified in the approved operational budget.”

“These documents are made available upon request.”

“Meda launched Ascend Twin Cities to leverage the procurement of private anchor corporations to grow and sustain BIPOC-owned businesses through increased contracting opportunities. The first co-hort of clients will launch in 2020.”

“PEO Services: Program service expenses 27,674. Management and general expenses 3,218. Fundraising expenses 5,835. Total expenses 36,727. Client Assistance Services: Program service expenses 248,150. Management and general expenses 0. Fundraising expenses 0. Total expenses 248,150. PR/Graphics/Marketing: Program service expenses 0. Management and general expenses 0. Fundraising expenses 159,335. Total expenses 159,335. Admin: Program service expenses 94,533. Management and general expenses 39,880. Fundraising expenses 20,974. Total expenses 155,387. Loan: Program service expenses 67,028. Management and general expenses 0. Fundraising expenses 0. Total expenses 67,028. NonOperating: Program service expenses 428,402. Management and general expenses 0. Fundraising expenses 0. Total expenses 428,402. Project: Program service expenses 406,160. Management and general expenses 0. Fundraising expenses 0. Total expenses 406,160. Writing/Comm Admin: Program service expenses 0. Management and general expenses 870. Fundraising expenses 0. Total expenses 870. Other Writing/Comm Fd/Mrk: Program service expenses 0. Management and general expenses 0. Fundraising expenses 29,574. Total expenses 29,574.”