Civic Intelligence

African Economic Development Solutions

990 • Fiscal year 2022 • EIN 80-0345712

Jan 01, 2022 to Dec 31, 2022 • Filed on Oct 30, 2023

Organization ProfileWWW.AEDS-MN.ORG
1821 University Avenue West 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

70th percentile

0.33x

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

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

75th percentile

0.56x

Higher debt load relative to revenue than 75% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

68th percentile

18%

Higher net margin than 68% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

53rd percentile

$130,014

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 3.4% of source-year revenue.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

75th percentile

15%

Faster asset growth than 75% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

85th percentile

53%

Faster revenue growth than 85% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$6,521,701

Up $862,434 (+15%) from 2021

Net Assets

Up

$4,399,480

Up $671,470 (+18%) from 2021

Liabilities

Up

$2,122,221

Up $190,964 (+9.9%) from 2021

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin68th percentile

Revenue

Up

$3,784,754

Up $1,305,511 (+53%) from 2021

Expenses

Up

$3,113,284

Up $2,129,994 (+217%) from 2021

Net Income

Down

$671,470

Down $824,483 (-55%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth75th 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

2022

Assets$6,521,701
Liabilities$2,122,221
Net Assets$4,399,480
Open 2022 Filing

Operations Trend

Revenue Growth85th 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

2022

Revenue$3,784,754
Expenses$3,113,284
Net Income$671,470
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 30, 2023
Return Version
2022v5.0
Gross Receipts
$3,784,754
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$3,320,162$3,411,954▲ $91,792
Other Notes and Loans Receivable, Net$1,542,563$2,279,728▲ $737,165
Land, Buildings, and Equipment, Net$296,243$478,872▲ $182,629
Pledges and Grants Receivable$484,462$350,284▼ $134,178
Accounts Receivable$11,657$0▼ $11,657
Prepaid Expenses and Deferred Charges$3,553$236▼ $3,317
Total Assets$5,659,267$6,521,701▲ $862,434
Other Assets Total$627$627→ $0
Liabilities
Unsecured Notes Loans Payable$928,319$1,140,000▲ $211,681
Other Liabilities$897,801$796,694▼ $101,107
Grants Payable$100,000$100,000→ $0
Accounts Payable and Accrued Expenses$5,137$85,527▲ $80,390
Total Liabilities$1,931,257$2,122,221▲ $190,964
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,499,508$3,156,357▲ $656,849
Net Assets With Donor Restrictions$1,228,502$1,243,123▲ $14,621
Total Net Assets Fund Balance$3,728,010$4,399,480▲ $671,470
Total Liabilities and Net Assets / Fund Balance$5,659,267$6,521,701▲ $862,434

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$374,735$21,063$395,798
Land$94,642-$94,642
Equipment$9,495$25,307$34,802
Compensation and Service Providers
Top Officer Pay53rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Gene GelgeluPresident & CEOFT$114,114$15,900$130,014

Board Members and Trustees

NameTitle
Kate SpeedChair
Abraham DaluDirector
Anthony J IsubikaluDirector
Ebisso UkaDirector
Omer KissiDirector
Phillip L HamptonDirector
Rebecca CooperSecretary
Gebi TufaaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,543,104
Program Service Revenue
$228,986
Investment Income
$0
Other Revenue
$12,664
All Other Contributions
$1,586,452
Change in Net Assets
$671,470
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,155,000
Other Expenses$1,103,053
Salaries, Compensation, and Employee Benefits$855,231
Total Fundraising Expense$164,043
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,155,000--$1,155,000
Other Salaries and Wages$627,157$59,027$51,648$737,832
Conferences and Meetings$354,815--$354,815
Fees for Services Other$87,757$27,830$93,425$209,012
Advertising$64,679$1,362$2,042$68,083
Office Expenses$3,764$63,338-$67,102
Other Employee Benefits$53,261$5,013$4,386$62,660
Payroll Taxes$46,528$4,379$3,832$54,739
Occupancy$30,537$2,874$2,515$35,926
Insurance$21,066$1,983$1,735$24,784
Depreciation Depletion$13,229$1,245$1,090$15,564
Other Expenses$10,740$4,139$1,380$10,740
Travel$8,292$780$683$9,755
Interest$9,443--$9,443
Information Technology$3,044$287$251$3,582
Total Functional Expenses$2,775,777$173,464$164,043$3,113,284
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 Deed$796,694
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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 prior to 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

“PROVIDED UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
African Economic Development Solutions
EIN
80-0345712
Phone
6516469411
Address
1821 UNIVERSITY AVENUE WEST S145, ST PAUL, MN 55104

Signing Officer

Name
Gene Gelgelu
Title
President & CEO
Phone
6516469411
Signed
2023-10-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gene Gelgelu
Formed
2008
Legal Domicile
Mn
Voting Board Members
8
Independent Board Members
8
Employees
16
Volunteers
0

Preparer

Firm
Carpenter Evert & Associates Ltd
Address
7760 FRANCE AVE S SUITE 940, BLOOMINGTON, MN 55435
Preparer
Marc Colin
Phone
9528310085
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The organization has a tax-exempt status under section 501(c)(3) of the internal revenue code and has adopted accounting for uncertainty in income taxes, asc 740-10. The organization's policy is to evaluate uncertain tax positions, at least annually, for the potential for income tax exposure from unrelated business income or from loss of nonprofit status. The organization continues to operate consistent with its original exemption application and each year takes the necessary actions to maintain its exempt status. It has been classified as an organization that is not a private foundation under the internal revenue code and charitable contributions by donors are tax deductible. In compliance with its exempt status, the organization annually files a return of organization exempt from income tax (form 990).”

Raw XML AppendixShowing 400 of 455 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/BOYAmt05137
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt085527
IRS990/AccountsReceivableGrp/BOYAmt011657
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/FundraisingAmt02042
IRS990/AdvertisingGrp/ManagementAndGeneralAmt01362
IRS990/AdvertisingGrp/ProgramServicesAmt064679
IRS990/AdvertisingGrp/TotalAmt068083
IRS990/AllOtherContributionsAmt01586452
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0THE ORGANIZATION
IRS990/BooksInCareOfDetail/PhoneNum06516469411
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt01821 UNIVERSITY AVENUE WEST S145
IRS990/BooksInCareOfDetail/USAddress/CityNm0ST PAUL
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MN
IRS990/BooksInCareOfDetail/USAddress/ZIPCd055104
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CashNonInterestBearingGrp/BOYAmt03320162
IRS990/CashNonInterestBearingGrp/EOYAmt03411954
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd01
IRS990/ConferencesMeetingsGrp/ProgramServicesAmt0354815
IRS990/ConferencesMeetingsGrp/TotalAmt0354815
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt03543104
IRS990/CYGrantsAndSimilarPaidAmt01155000
IRS990/CYInvestmentIncomeAmt00
IRS990/CYOtherExpensesAmt01103053
IRS990/CYOtherRevenueAmt012664
IRS990/CYProgramServiceRevenueAmt0228986
IRS990/CYRevenuesLessExpensesAmt0671470
IRS990/CYSalariesCompEmpBnftPaidAmt0855231
IRS990/CYTotalExpensesAmt03113284
IRS990/CYTotalFundraisingExpenseAmt0164043
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt03784754
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/FundraisingAmt01090
IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt01245
IRS990/DepreciationDepletionGrp/ProgramServicesAmt013229
IRS990/DepreciationDepletionGrp/TotalAmt015564
IRS990/Desc0BUSINESS DEVELOPMENT TRAINING AND SMALL BUSINESS CONSULTING PROGRAM PROVIDED SERVICE TO 1286 CLIENTS IN 2022. THE PROGRAM EQUIPS AFRICAN IMMIGRANTS AND MEMBERS CLIENTS 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 ARE TO HELP PROVIDE ACCESS TO THE CAPITAL THAT HELPS LAUNCH THEIR BUSINESSES, IN ADDITION TO COVID-19 GRANTS TO BUSINESSES AND MALLS.HOMEOWNERSHIP AND FINANCIAL LITERACY WORKSHOP PROGRAM PROVIDED TO 114 FAMILIES IN WORKSHOPS AND COUNSELING IN 2022. 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.LITTLE AFRICA ENGAGED WITH AN ESTIMATED 10,000 PEOPLE THROUGH OUR VIRTUAL LITTLE AFRICAN ANNUAL FESTIVAL AND NATIONAL AFRICAN LEADERSHIP CONFERENCE EVENTS IN 2022. THIS PROGRAM IS DESIGNED TO ENGAGE WITH ARTISTS AND COMMUNITIES TO BUILD LOCAL ECONOMY THROUGH ARTS AND BUILDING LEADERSHIP CAPACITY IN THE COMMUNITY.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DonorAdvisedFundInd00
IRS990/DonorRestrictionNetAssetsGrp/BOYAmt01228502
IRS990/DonorRestrictionNetAssetsGrp/EOYAmt01243123
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt016
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt02775777
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesOtherGrp/FundraisingAmt093425
IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt027830
IRS990/FeesForServicesOtherGrp/ProgramServicesAmt087757
IRS990/FeesForServicesOtherGrp/TotalAmt0209012
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt040.00
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/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt015900
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/PersonNm0GENE GELGELU
IRS990/Form990PartVIISectionAGrp/PersonNm1KATE SPEED
IRS990/Form990PartVIISectionAGrp/PersonNm2REBECCA COOPER
IRS990/Form990PartVIISectionAGrp/PersonNm3GEBI TUFAA
IRS990/Form990PartVIISectionAGrp/PersonNm4ABRAHAM DALU
IRS990/Form990PartVIISectionAGrp/PersonNm5PHILLIP L HAMPTON
IRS990/Form990PartVIISectionAGrp/PersonNm6ANTHONY J ISUBIKALU
IRS990/Form990PartVIISectionAGrp/PersonNm7OMER KISSI
IRS990/Form990PartVIISectionAGrp/PersonNm8EBISSO UKA
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt0114114
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/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/TitleTxt0PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02008
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt08
IRS990/GovernmentGrantsAmt01956652
IRS990/GrantAmt01155000
IRS990/GrantsPayableGrp/BOYAmt0100000
IRS990/GrantsPayableGrp/EOYAmt0100000
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt01155000
IRS990/GrantsToDomesticOrgsGrp/TotalAmt01155000
IRS990/GrantsToIndividualsInd01
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt03784754
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt08
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/FundraisingAmt0251
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt0287
IRS990/InformationTechnologyGrp/ProgramServicesAmt03044
IRS990/InformationTechnologyGrp/TotalAmt03582
IRS990/InsuranceGrp/FundraisingAmt01735
IRS990/InsuranceGrp/ManagementAndGeneralAmt01983
IRS990/InsuranceGrp/ProgramServicesAmt021066
IRS990/InsuranceGrp/TotalAmt024784
IRS990/InterestGrp/ProgramServicesAmt09443
IRS990/InterestGrp/TotalAmt09443
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt0215
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt046370
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0296243
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0478872
IRS990/LandBldgEquipCostOrOtherBssAmt0525242
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 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.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt03728010
IRS990/NetAssetsOrFundBalancesEOYAmt04399480
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt02499508
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt03156357
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/FundraisingAmt02515
IRS990/OccupancyGrp/ManagementAndGeneralAmt02874
IRS990/OccupancyGrp/ProgramServicesAmt030537
IRS990/OccupancyGrp/TotalAmt035926
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt063338
IRS990/OfficeExpensesGrp/ProgramServicesAmt03764
IRS990/OfficeExpensesGrp/TotalAmt067102
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0627
IRS990/OtherAssetsTotalGrp/EOYAmt0627
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt04386
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt05013
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt053261
IRS990/OtherEmployeeBenefitsGrp/TotalAmt062660
IRS990/OtherExpensesGrp/Desc0LOAN LOSS EXPENSE
IRS990/OtherExpensesGrp/Desc1OTHER EXPENSES
IRS990/OtherExpensesGrp/Desc2BANK CHARGES AND FEES
IRS990/OtherExpensesGrp/Desc3PROGRAM EXPENSES
IRS990/OtherExpensesGrp/FundraisingAmt01056
IRS990/OtherExpensesGrp/FundraisingAmt11380
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01207
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt14139
IRS990/OtherExpensesGrp/ProgramServicesAmt0265366
IRS990/OtherExpensesGrp/ProgramServicesAmt112820
IRS990/OtherExpensesGrp/ProgramServicesAmt28279
IRS990/OtherExpensesGrp/ProgramServicesAmt310740
IRS990/OtherExpensesGrp/TotalAmt0265366
IRS990/OtherExpensesGrp/TotalAmt115083
IRS990/OtherExpensesGrp/TotalAmt213798
IRS990/OtherExpensesGrp/TotalAmt310740
IRS990/OtherLiabilitiesGrp/BOYAmt0897801
IRS990/OtherLiabilitiesGrp/EOYAmt0796694
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0OTHER
IRS990/OtherRevenueMiscGrp/ExclusionAmt012664
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt012664
IRS990/OtherRevenueTotalAmt012664
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt051648
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt059027
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0627157
IRS990/OtherSalariesAndWagesGrp/TotalAmt0737832
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt01542563
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt02279728
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/FundraisingAmt03832
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04379
IRS990/PayrollTaxesGrp/ProgramServicesAmt046528
IRS990/PayrollTaxesGrp/TotalAmt054739
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0484462
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0350284
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt03553
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0236
IRS990/PrincipalOfficerNm0GENE GELGELU
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM FEES
IRS990/ProgramServiceRevenueGrp/Desc1LOAN INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0189862
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt139124
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0189862
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt139124
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt02396539
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt025000
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0356445
IRS990/PYOtherRevenueAmt04066
IRS990/PYProgramServiceRevenueAmt078638
IRS990/PYRevenuesLessExpensesAmt01495953
IRS990/PYSalariesCompEmpBnftPaidAmt0601845
IRS990/PYTotalExpensesAmt0983290
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02479243
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0671470
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0228986
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt03543104
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt02396539
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt04973600
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01170326
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0452104
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt012535673
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt015
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt022871
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt03765
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt026651
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0228986
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt012664
IRS990ScheduleA/OtherIncome170Grp/TotalAmt012664
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99690
IRS990ScheduleA/PublicSupportPY170Pct00.99700
IRS990ScheduleA/PublicSupportTotal170Amt012535673
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt03543104
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt02396539
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt04973600
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01170326
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0452104
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt012535673
IRS990ScheduleA/TotalSupportAmt012574988
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/BuildingsGrp/BookValueAmt0374735
IRS990ScheduleD/BuildingsGrp/DepreciationAmt021063
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0395798
IRS990ScheduleD/EquipmentGrp/BookValueAmt09495
IRS990ScheduleD/EquipmentGrp/DepreciationAmt025307
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt034802
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt094642
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt094642
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0796694
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO MN DEED
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS A TAX-EXEMPT STATUS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND HAS ADOPTED ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, ASC 740-10. THE ORGANIZATION'S POLICY IS TO EVALUATE UNCERTAIN TAX POSITIONS, AT LEAST ANNUALLY, FOR THE POTENTIAL FOR INCOME TAX EXPOSURE FROM UNRELATED BUSINESS INCOME OR FROM LOSS OF NONPROFIT STATUS. THE ORGANIZATION CONTINUES TO OPERATE CONSISTENT WITH ITS ORIGINAL EXEMPTION APPLICATION AND EACH YEAR TAKES THE NECESSARY ACTIONS TO MAINTAIN ITS EXEMPT STATUS. IT HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER THE INTERNAL REVENUE CODE AND CHARITABLE CONTRIBUTIONS BY DONORS ARE TAX DEDUCTIBLE. IN COMPLIANCE WITH ITS EXEMPT STATUS, THE ORGANIZATION ANNUALLY FILES A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990).
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0478872
IRS990ScheduleD/TotalLiabilityAmt0796694
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SMALL BUSINESS GRANTS
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0NO MONITORING SINCE THE GRANTS ARE ALL FOR GENERAL SUPPORT OF THE GRANTEES; THE GRANTS ARE NOT RESTRICTED FOR A PARTICULAR PURPOSE.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD REVIEWS THE FORM 990 PRIOR TO 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/ExplanationTxt3PROVIDED UPON REQUEST.
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
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt05659267
IRS990/TotalAssetsEOYAmt06521701
IRS990/TotalAssetsGrp/BOYAmt05659267
IRS990/TotalAssetsGrp/EOYAmt06521701
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt03543104
IRS990/TotalEmployeeCnt016
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0164043
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0173464
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02775777
IRS990/TotalFunctionalExpensesGrp/TotalAmt03113284
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01931257
IRS990/TotalLiabilitiesEOYAmt02122221
IRS990/TotalLiabilitiesGrp/BOYAmt01931257
IRS990/TotalLiabilitiesGrp/EOYAmt02122221
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03728010
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04399480
IRS990/TotalOtherCompensationAmt015900
IRS990/TotalProgramServiceExpensesAmt02775777
IRS990/TotalProgramServiceRevenueAmt0228986
IRS990/TotalReportableCompFromOrgAmt0114114
IRS990/TotalRevenueGrp/ExclusionAmt012664
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0228986
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03784754
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,521,701
Liabilities
$2,122,221
Net assets
$4,399,480
Revenue
$3,784,754
Expenses
$3,113,284
Net income
$671,470
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