Civic Intelligence

African Economic Development Solutions

990 • Fiscal year 2018 • EIN 80-0345712

Jan 01, 2018 to Dec 31, 2018 • Filed on May 11, 2019

Organization Profilewww.aeds-mn.org
1821 University Ave W No S145St Paul, MN 55104

(651) 646-9411

Siviq Scores

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

Liabilities / Assets

78th percentile

0.29x

Higher debt load relative to assets than 78% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

79th percentile

0.27x

Higher debt load relative to revenue than 79% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

69th percentile

13%

Higher net margin than 69% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

77th percentile

$71,000

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 11.6% of source-year revenue.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

95th percentile

117%

Faster asset growth than 95% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

81st percentile

35%

Faster revenue growth than 81% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets78th percentile

Assets

Up

$566,671

Up $305,316 (+117%) from 2017

Net Assets

Up

$400,352

Up $195,915 (+96%) from 2017

Liabilities

Up

$166,319

Up $109,401 (+192%) from 2017

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin69th percentile

Revenue

Up

$610,400

Up $158,507 (+35%) from 2017

Expenses

Up

$529,817

Up $87,605 (+20%) from 2017

Net Income

Up

$80,583

Up $70,902 (+732%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

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

$15M$10M$5.0M$0Assets 2010: $53,167Liabilities 2010: $733Net Assets 2010: $52,4342010Assets 2014: $45,093Liabilities 2014: $1,421Net Assets 2014: $43,6722014Assets 2015: $174,380Liabilities 2015: $2,098Net Assets 2015: $172,2822015Assets 2016: $203,572Liabilities 2016: $3,354Net Assets 2016: $200,2182016Assets 2017: $261,355Liabilities 2017: $56,918Net Assets 2017: $204,4372017Assets 2018: $566,671Liabilities 2018: $166,319Net Assets 2018: $400,3522018Assets 2019: $1,506,400Liabilities 2019: $427,248Net Assets 2019: $1,079,1522019Assets 2020: $4,047,906Liabilities 2020: $1,815,849Net Assets 2020: $2,232,0572020Assets 2021: $5,659,267Liabilities 2021: $1,931,257Net Assets 2021: $3,728,0102021Assets 2022: $6,521,701Liabilities 2022: $2,122,221Net Assets 2022: $4,399,4802022Assets 2023: $10,106,080Liabilities 2023: $3,716,723Net Assets 2023: $6,389,3572023Assets 2024: $13,711,523Liabilities 2024: $4,424,956Net Assets 2024: $9,286,5672024

Highlighted filing

2018

Assets$566,671
Liabilities$166,319
Net Assets$400,352
Open 2018 Filing

Operations Trend

Revenue Growth81st percentile

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

$6.0M$4.0M$2.0M$0Revenue 2010: $98,790Expenses 2010: $48,035Net Income 2010: $50,7552010Revenue 2014: $124,229Expenses 2014: $98,464Net Income 2014: $25,7652014Revenue 2015: $314,629Expenses 2015: $186,017Net Income 2015: $128,6122015Revenue 2016: $376,709Expenses 2016: $348,773Net Income 2016: $27,9362016Revenue 2017: $451,893Expenses 2017: $442,212Net Income 2017: $9,6812017Revenue 2018: $610,400Expenses 2018: $529,817Net Income 2018: $80,5832018Revenue 2019: $1,245,666Expenses 2019: $566,866Net Income 2019: $678,8002019Revenue 2020: $5,145,016Expenses 2020: $3,917,111Net Income 2020: $1,227,9052020Revenue 2021: $2,479,243Expenses 2021: $983,290Net Income 2021: $1,495,9532021Revenue 2022: $3,784,754Expenses 2022: $3,113,284Net Income 2022: $671,4702022Revenue 2023: $3,868,135Expenses 2023: $1,878,258Net Income 2023: $1,989,8772023Revenue 2024: $5,189,587Expenses 2024: $2,292,377Net Income 2024: $2,897,2102024

Highlighted filing

2018

Revenue$610,400
Expenses$529,817
Net Income$80,583
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 11, 2019
Return Version
2018v3.1
Gross Receipts
$610,400
Mission and Program Overview

Mission

African economic development solutions (aeds) builds wealth within african immigrant communities in the twin cities through economic development activities. We work throughout the twin cities metropolitan area to create wealth, lift immigrant communities out of poverty, and contribute to and benefit from the region's vibrant economy.

African Economic Development Solutions (AEDS) builds wealth within African immigrant communities in the Twin Cities through economic development activities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$132,425$254,329▲ $121,904
Other Notes and Loans Receivable, Net$65,744$195,980▲ $130,236
Pledges and Grants Receivable$32,000$100,700▲ $68,700
Land, Buildings, and Equipment, Net$19,326$14,808▼ $4,518
Accounts Receivable$11,000$0▼ $11,000
Prepaid Expenses and Deferred Charges$233$227▼ $6
Total Assets$261,355$566,671▲ $305,316
Other Assets Total$627$627→ $0
Liabilities
Unsecured Notes Loans Payable$5,000$139,102▲ $134,102
Other Liabilities$36,252$26,982▼ $9,270
Accounts Payable and Accrued Expenses$15,666$235▼ $15,431
Total Liabilities$56,918$166,319▲ $109,401
Net Assets / Fund Balance
Unrestricted Net Assets$169,437$310,352▲ $140,915
Temporarily Rstr Net Assets$35,000$90,000▲ $55,000
Total Net Assets Fund Balance$204,437$400,352▲ $195,915
Total Liabilities and Net Assets / Fund Balance$261,355$566,671▲ $305,316

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$14,808$9,895$24,703
Compensation and Service Providers
Top Officer Pay77th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Gene GelgeluPresident & CEOFT$65,000$6,000$71,000

Board Members and Trustees

NameTitle
Kate SpeedChair
Abraham DaluBoard Member
Habtamu AwetuBoard Member
Phillip L HamptonBoard Member
Leila S Paye-BakerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$452,104
Program Service Revenue
$151,081
Investment Income
$3,765
Other Revenue
$3,450
All Other Contributions
$302,635
Change in Net Assets
$80,583

Audited Revenue Reconciliation

Revenue per Audited Statements
$610,400
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$610,400
Total Revenue per Form 990
$610,400
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$365,010
Other Expenses$164,807
Total Fundraising Expense$32,838
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$225,834$17,971$15,725$259,530
Current Officers, Directors, Trustees, and Key Employees$61,782$4,916$4,302$71,000
Fees for Services Other$40,124$4,424$4,095$48,643
Occupancy$24,428$2,300$2,012$28,740
Payroll Taxes$20,208$3,789$1,263$25,260
Advertising$18,765$1,766$1,546$22,077
Fees for Services Accounting-$9,850-$9,850
Other Employee Benefits$7,837$738$645$9,220
Office Expenses-$4,897-$4,897
Depreciation Depletion$3,991$376$329$4,696
Insurance$2,603$245$214$3,062
Travel$1,500$141$123$1,764
Other Expenses$1,368$1,894$175$1,368
All Other Expenses$1,149$108$95$1,352
Conferences and Meetings$887--$887
Interest-$386-$386
Total Functional Expenses$440,716$56,263$32,838$529,817

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$529,817
Total Expenses per Audited Statements$529,817
Total Expenses per Form 990$529,817
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Due to MN Dept of Employment and Economic Development$26,982
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 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

Governance Explanations

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

“Board reviews the Form 990 at its meeting and approves before filing.”

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

“The Board regularly monitors the compliance with the conflict of interest policy.”

Form 990, Part VI, Section B, line 15

“Board decides the Executive Director's salary after doing market comparison and determining the organization's resources available for compensation.”

Form 990, Part VI, Section C, line 19

“Available upon request.”

Filing and Contact Details

Filer

Filer Name
African Economic Development Solutions
EIN
80-0345712
Phone
6516469411
Address
1821 University Ave W No S145, St Paul, MN 55104

Signing Officer

Name
Gene Gelgelu
Title
President & CEO
Phone
6516469411
Signed
2019-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gene Gelgelu
Formed
2008
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
5
Employees
8
Volunteers
63

Preparer

Firm
Abdo Eick & Meyers LLP
Address
5201 Eden Avenue Suite 250, Edina, MN 55436
Preparer
Steve Anseth
Phone
9528359090
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C:

“The Board of Directors assumes responsibility for oversight of the audit and selection of an independent accountant. These processes did not change from the prior year.”

Financial Statement Notes

Part X, Line 2:

“The Organization is exempt from income tax under section 501(c)(3) of the Internal Revenue Code. Contributions to the Organization are tax deductible as the Organization qualifies under Section 170(c) of the Internal Revenue Code. During the years ended December 31, 2018 and 2017, the Organization has not incurred any interest or penalties on its tax returns. The Organization reviews and assesses its tax positions taken or expected to be taken in tax returns. Based on this assessment the Organization determines whether it is more likely than not that the position would be sustained upon examination by tax authorities. The Organization's assessment has not identified any significant positions that it believes would not be sustained under examination. The Organization has identified its tax status as a tax exempt entity as it's only significant tax position and has determined that such tax position does not result in an uncertainty requiring recognition. The Organization is not currently under examination by any taxing jurisdiction. Its federal income tax returns are generally open for examination for three years after the date of filing, including extensions.”

Raw XML AppendixShowing 400 of 447 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/BOYAmt015666
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0235
IRS990/AccountsReceivableGrp/BOYAmt011000
IRS990/AccountsReceivableGrp/EOYAmt00
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0African Economic Development Solutions (AEDS) builds wealth within African immigrant communities in the Twin Cities through economic development activities.
IRS990/AdvertisingGrp/FundraisingAmt01546
IRS990/AdvertisingGrp/ManagementAndGeneralAmt01766
IRS990/AdvertisingGrp/ProgramServicesAmt018765
IRS990/AdvertisingGrp/TotalAmt022077
IRS990/AllOtherContributionsAmt0302635
IRS990/AllOtherExpensesGrp/FundraisingAmt095
IRS990/AllOtherExpensesGrp/ManagementAndGeneralAmt0108
IRS990/AllOtherExpensesGrp/ProgramServicesAmt01149
IRS990/AllOtherExpensesGrp/TotalAmt01352
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0Gene Gelgelu
IRS990/BooksInCareOfDetail/PhoneNum06516469411
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt01821 University Ave W No S145
IRS990/BooksInCareOfDetail/USAddress/CityNm0St Paul
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MN
IRS990/BooksInCareOfDetail/USAddress/ZIPCd055104
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOfficerEntInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CashNonInterestBearingGrp/BOYAmt0132425
IRS990/CashNonInterestBearingGrp/EOYAmt0254329
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/FundraisingAmt04302
IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt04916
IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt061782
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt071000
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd01
IRS990/ConferencesMeetingsGrp/ProgramServicesAmt0887
IRS990/ConferencesMeetingsGrp/TotalAmt0887
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0452104
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt03765
IRS990/CYOtherExpensesAmt0164807
IRS990/CYOtherRevenueAmt03450
IRS990/CYProgramServiceRevenueAmt0151081
IRS990/CYRevenuesLessExpensesAmt080583
IRS990/CYSalariesCompEmpBnftPaidAmt0365010
IRS990/CYTotalExpensesAmt0529817
IRS990/CYTotalFundraisingExpenseAmt032838
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0610400
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/FundraisingAmt0329
IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt0376
IRS990/DepreciationDepletionGrp/ProgramServicesAmt03991
IRS990/DepreciationDepletionGrp/TotalAmt04696
IRS990/Desc0Business Development Training and Small Business Consulting program provided service to 193 clients. The program equips African immigrants and members of other marginalized communities in the Twin Cities and greater Minnesota with pertinent business skills indispensable for their success as entrepreneurs of color. The training consists of classes, workshops, field work, and one-on-one sessions. Some of the areas the program provides business consulting to existing or aspiring entrepreneurs in are licensing and lease review, finance and accounting services, and crafting effective growth strategies and organizational structures. This program also includes the micro loans, which is to help provide access to the capital that helps launch their businesses.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd00
IRS990/DonorAdvisedFundInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt08
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt0371723
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt09850
IRS990/FeesForServicesAccountingGrp/TotalAmt09850
IRS990/FeesForServicesOtherGrp/FundraisingAmt04095
IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt04424
IRS990/FeesForServicesOtherGrp/ProgramServicesAmt040124
IRS990/FeesForServicesOtherGrp/TotalAmt048643
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/AverageHoursPerWeekRt540.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt56000
IRS990/Form990PartVIISectionAGrp/PersonNm0Kate Speed
IRS990/Form990PartVIISectionAGrp/PersonNm1Leila S Paye-Baker
IRS990/Form990PartVIISectionAGrp/PersonNm2Habtamu Awetu
IRS990/Form990PartVIISectionAGrp/PersonNm3Phillip L Hampton
IRS990/Form990PartVIISectionAGrp/PersonNm4Abraham Dalu
IRS990/Form990PartVIISectionAGrp/PersonNm5Gene Gelgelu
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt565000
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/TitleTxt0Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt1Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt2Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt3Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt4Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt5President & CEO
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02008
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt05
IRS990/GovernmentGrantsAmt0149469
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0610400
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt05
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InsuranceGrp/FundraisingAmt0214
IRS990/InsuranceGrp/ManagementAndGeneralAmt0245
IRS990/InsuranceGrp/ProgramServicesAmt02603
IRS990/InsuranceGrp/TotalAmt03062
IRS990/InterestGrp/ManagementAndGeneralAmt0386
IRS990/InterestGrp/TotalAmt0386
IRS990/InvestmentIncomeGrp/ExclusionAmt03765
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt03765
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt016
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt09895
IRS990/LandBldgEquipBasisNetGrp/BOYAmt019326
IRS990/LandBldgEquipBasisNetGrp/EOYAmt014808
IRS990/LandBldgEquipCostOrOtherBssAmt024703
IRS990/LegalDomicileStateCd0MN
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0African Economic Development Solutions (AEDS) builds wealth within African immigrant communities through economic development activities. We work throughout the Twin Cities metropolitan area to create wealth, lift immigrant communities out of poverty, and contribute to and benefit from the region's vibrant economy.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0204437
IRS990/NetAssetsOrFundBalancesEOYAmt0400352
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/FundraisingAmt02012
IRS990/OccupancyGrp/ManagementAndGeneralAmt02300
IRS990/OccupancyGrp/ProgramServicesAmt024428
IRS990/OccupancyGrp/TotalAmt028740
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt04897
IRS990/OfficeExpensesGrp/TotalAmt04897
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0627
IRS990/OtherAssetsTotalGrp/EOYAmt0627
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt0645
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0738
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt07837
IRS990/OtherEmployeeBenefitsGrp/TotalAmt09220
IRS990/OtherExpensesGrp/Desc0Miscellaneous
IRS990/OtherExpensesGrp/Desc1Telephone
IRS990/OtherExpensesGrp/Desc2Bank charges and fees
IRS990/OtherExpensesGrp/Desc3Program expenses
IRS990/OtherExpensesGrp/FundraisingAmt02314
IRS990/OtherExpensesGrp/FundraisingAmt1175
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt02262
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1200
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt21894
IRS990/OtherExpensesGrp/ProgramServicesAmt028116
IRS990/OtherExpensesGrp/ProgramServicesAmt12124
IRS990/OtherExpensesGrp/ProgramServicesAmt21368
IRS990/OtherExpensesGrp/TotalAmt032692
IRS990/OtherExpensesGrp/TotalAmt12499
IRS990/OtherExpensesGrp/TotalAmt21894
IRS990/OtherExpensesGrp/TotalAmt31368
IRS990/OtherLiabilitiesGrp/BOYAmt036252
IRS990/OtherLiabilitiesGrp/EOYAmt026982
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0Miscellaneous Income
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt03450
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt03450
IRS990/OtherRevenueTotalAmt03450
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt015725
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt017971
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0225834
IRS990/OtherSalariesAndWagesGrp/TotalAmt0259530
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt065744
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0195980
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt01263
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03789
IRS990/PayrollTaxesGrp/ProgramServicesAmt020208
IRS990/PayrollTaxesGrp/TotalAmt025260
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt032000
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0100700
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0233
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0227
IRS990/PrincipalOfficerNm0Gene Gelgelu
IRS990/PriorPeriodAdjustmentsAmt0115332
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0Program revenue
IRS990/ProgramServiceRevenueGrp/Desc1Home stretch fees
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0142897
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt18184
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0142897
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt18184
IRS990/ProgSrvcAccomActy2Grp/Desc0Homeownership and Financial Literacy Workshop program provided to 88 families in workshops and counseling in 2018. The program helps disadvantaged families and first time homebuyers make informed decisions as they fully realize their slice of the American Dream, and to help individuals or families develop the skills necessary to succeed in the complex world of finance. Housing counselors can review your finances, credit report, and provide information on current mortgage loan programs, including down payment and closing cost assistance. Workshops will also assist in learning to make educated financial decisions and achieve financial goals.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt020021
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt013972
IRS990/ProgSrvcAccomActy3Grp/Desc0Little Africa engaged with about 5,000 people through our events in 2018. This program is designed to engage with artists and communities to build local economy through art and cultural activities.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt048972
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt037923
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0348297
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01666
IRS990/PYOtherExpensesAmt0140726
IRS990/PYOtherRevenueAmt0232
IRS990/PYProgramServiceRevenueAmt0101698
IRS990/PYRevenuesLessExpensesAmt09681
IRS990/PYSalariesCompEmpBnftPaidAmt0301486
IRS990/PYTotalExpensesAmt0442212
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0451893
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt080583
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0102636
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0452104
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0348297
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0198424
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0314520
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0124395
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01437740
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt03765
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt01666
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt076
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt09
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt078
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt05594
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0427510
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt03450
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt0232
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt03478
IRS990ScheduleA/OtherIncome170Grp/TotalAmt07160
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99120
IRS990ScheduleA/PublicSupportPY170Pct00.78600
IRS990ScheduleA/PublicSupportTotal170Amt01437740
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0452104
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0348297
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0198424
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0314520
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0124395
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01437740
IRS990ScheduleA/TotalSupportAmt01450494
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt014808
IRS990ScheduleD/EquipmentGrp/DepreciationAmt09895
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt024703
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0529817
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt026982
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Due to MN Dept of Employment and Economic Development
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0610400
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization is exempt from income tax under section 501(c)(3) of the Internal Revenue Code. Contributions to the Organization are tax deductible as the Organization qualifies under Section 170(c) of the Internal Revenue Code. During the years ended December 31, 2018 and 2017, the Organization has not incurred any interest or penalties on its tax returns. The Organization reviews and assesses its tax positions taken or expected to be taken in tax returns. Based on this assessment the Organization determines whether it is more likely than not that the position would be sustained upon examination by tax authorities. The Organization's assessment has not identified any significant positions that it believes would not be sustained under examination. The Organization has identified its tax status as a tax exempt entity as it's only significant tax position and has determined that such tax position does not result in an uncertainty requiring recognition. The Organization is not currently under examination by any taxing jurisdiction. Its federal income tax returns are generally open for examination for three years after the date of filing, including extensions.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt014808
IRS990ScheduleD/TotalExpensesPerForm990Amt0529817
IRS990ScheduleD/TotalLiabilityAmt026982
IRS990ScheduleD/TotalRevenuePerForm990Amt0610400
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0610400
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0529817
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Board reviews the Form 990 at its meeting and approves before filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Board regularly monitors the compliance with the conflict of interest policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Board decides the Executive Director's salary after doing market comparison and determining the organization's resources available for compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Board of Directors assumes responsibility for oversight of the audit and selection of an independent accountant. These processes did not change from the prior year.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XII, Line 2c:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt035000
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt090000
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0261355
IRS990/TotalAssetsEOYAmt0566671
IRS990/TotalAssetsGrp/BOYAmt0261355
IRS990/TotalAssetsGrp/EOYAmt0566671
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0452104
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt032838
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt056263
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0440716
IRS990/TotalFunctionalExpensesGrp/TotalAmt0529817
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt056918
IRS990/TotalLiabilitiesEOYAmt0166319
IRS990/TotalLiabilitiesGrp/BOYAmt056918
IRS990/TotalLiabilitiesGrp/EOYAmt0166319
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0204437
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0400352
IRS990/TotalOtherCompensationAmt06000
IRS990/TotalProgramServiceExpensesAmt0440716
IRS990/TotalProgramServiceRevenueAmt0151081
IRS990/TotalReportableCompFromOrgAmt065000
IRS990/TotalRevenueGrp/ExclusionAmt03765
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0154531
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0610400
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt063
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0261355
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0566671
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt0123
IRS990/TravelGrp/ManagementAndGeneralAmt0141
IRS990/TravelGrp/ProgramServicesAmt01500
IRS990/TravelGrp/TotalAmt01764
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0169437

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$566,671
Liabilities
$166,319
Net assets
$400,352
Revenue
$610,400
Expenses
$529,817
Net income
$80,583
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.7$4.42$9.29$5.19$2.29$2.90
2023Detailed filing. Detailed filing data is available for this year.$10.1$3.72$6.39$3.87$1.88$1.99
2022Detailed filing. Detailed filing data is available for this year.$6.52$2.12$4.40$3.78$3.11$0.67
2021Detailed filing. Detailed filing data is available for this year.$5.66$1.93$3.73$2.48$0.98$1.50
2020Detailed filing. Detailed filing data is available for this year.$4.05$1.82$2.23$5.15$3.92$1.23
2019Detailed filing. Detailed filing data is available for this year.$1.51$0.43$1.08$1.25$0.57$0.68
2018Detailed filing. Detailed filing data is available for this year.$0.57$0.17$0.40$0.61$0.53$0.08
2017Detailed filing. Detailed filing data is available for this year.$0.26$0.06$0.20$0.45$0.44$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.20$0.00$0.20$0.38$0.35$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.17$0.00$0.17$0.31$0.19$0.13
2014Detailed filing. Detailed filing data is available for this year.$0.05$0.00$0.04$0.12$0.10$0.03
2010Summary only. Only limited summary data is available for this year.$0.05$0.00$0.05$0.10$0.05$0.05