Civic Intelligence

Association for Black Economic Power

990 • Fiscal year 2018 • EIN 81-5486146

Jan 01, 2018 to Dec 31, 2018 • Filed on May 08, 2019

Organization Profilewww.villagefinancial.org
227 Colfax Avenue N Ste 230Minneapolis, MN 55405

(612) 735-4351

Siviq Scores

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

Liabilities / Assets

67th percentile

0.02x

Higher debt load relative to assets than 67% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

62nd percentile

0.01x

Higher debt load relative to revenue than 62% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

19th percentile

-15%

Higher net margin than 19% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

13th percentile

-35%

Faster asset growth than 13% of similar nonprofits.

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

Revenue Growth

63rd percentile

10.0%

Faster revenue growth than 63% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets67th percentile

Assets

Down

$145,683

Down $77,747 (-35%) from 2017

Net Assets

Down

$142,968

Down $72,644 (-34%) from 2017

Liabilities

Down

$2,715

Down $5,103 (-65%) from 2017

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin19th percentile

Revenue

Up

$472,320

Up $42,912 (+10.0%) from 2017

Expenses

Up

$545,024

Up $331,228 (+155%) from 2017

Net Income

Down

-$72,704

Down $288,316 (-134%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

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

$1.5M$1.0M$500K$0Assets 2017: $223,430Liabilities 2017: $7,818Net Assets 2017: $215,6122017Assets 2018: $145,683Liabilities 2018: $2,715Net Assets 2018: $142,9682018Assets 2019: $438,447Liabilities 2019: $9,402Net Assets 2019: $429,0452019Assets 2020: $1,002,181Liabilities 2020: $30,677Net Assets 2020: $971,5042020Assets 2021: $756,167Liabilities 2021: $24,558Net Assets 2021: $731,6092021Assets 2022: $856,015Liabilities 2022: $40,026Net Assets 2022: $815,9892022Assets 2023: $521,918Liabilities 2023: $11,770Net Assets 2023: $510,1482023Assets 2024: $588,007Liabilities 2024: $44,826Net Assets 2024: $543,1812024

Highlighted filing

2018

Assets$145,683
Liabilities$2,715
Net Assets$142,968
Open 2018 Filing

Operations Trend

Revenue Growth63rd percentile

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

$1.0M$500K$0-$500KRevenue 2017: $429,408Expenses 2017: $213,796Net Income 2017: $215,6122017Revenue 2018: $472,320Expenses 2018: $545,024Net Income 2018: -$72,7042018Revenue 2019: $984,958Expenses 2019: $698,881Net Income 2019: $286,0772019Revenue 2020: $792,727Expenses 2020: $250,268Net Income 2020: $542,4592020Revenue 2021: $267,552Expenses 2021: $507,447Net Income 2021: -$239,8952021Revenue 2022: $500,502Expenses 2022: $416,122Net Income 2022: $84,3802022Revenue 2023: $182,196Expenses 2023: $488,037Net Income 2023: -$305,8412023Revenue 2024: $682,388Expenses 2024: $649,355Net Income 2024: $33,0332024

Highlighted filing

2018

Revenue$472,320
Expenses$545,024
Net Income-$72,704
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 8, 2019
Return Version
2018v3.1
Gross Receipts
$472,320
Mission and Program Overview

Mission

See schedule o.see form 990, part i, line 1.

Our mission is Black Liberation through Cooperative Renaissance

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$154,220$0▼ $154,220
Cash and Non-Interest-Bearing Accounts$46,022$91,865▲ $45,843
Land, Buildings, and Equipment, Net$12,511$15,381▲ $2,870
Prepaid Expenses and Deferred Charges$3,128$10,085▲ $6,957
Other Notes and Loans Receivable, Net$0$8,334▲ $8,334
Accounts Receivable$4,117$7,343▲ $3,226
Savings and Temporary Cash Investments$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$223,490$145,683▼ $77,807
Other Assets Total$3,492$12,675▲ $9,183
Liabilities
Accounts Payable and Accrued Expenses$7,818$2,715▼ $5,103
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$7,818$2,715▼ $5,103
Net Assets / Fund Balance
Unrestricted Net Assets$215,672$142,968▼ $72,704
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$215,672$142,968▼ $72,704
Total Liabilities and Net Assets / Fund Balance$223,490$145,683▼ $77,807

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$0$0$0
Other Land Buildings$8,789$1,609$0
Land$0-$0
Equipment$6,592$1,362$0
Leasehold Improvements$0$2,300$0
Other Assets Org$12,375--
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Jonathan BanksDirector
Malcolm WellsDirector
Patrick TroskaDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$472,264
Program Service Revenue
$0
Investment Income
$56
Other Revenue
$0
All Other Contributions
$410,973
Change in Net Assets
$-72,704
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$306,926
Other Expenses$238,098
Total Fundraising Expense$21,937
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$276,184$15,371$15,371$306,926
Fees for Services Other$71,775$0$0$71,775
Occupancy$41,449$2,289$1,145$44,883
Conferences and Meetings$32,302$1,744$872$34,918
Office Expenses$20,296$1,048$1,049$22,393
Travel$22,122$0$0$22,122
Advertising$14,137$0$3,500$17,637
Fees for Services Legal$6,584$1,163$0$7,747
Information Technology$6,121$0$0$6,121
Depreciation Depletion$0$5,401$0$5,401
Other Expenses$3,625$1,367$0$4,992
Interest$0$109$0$109
Total Functional Expenses$494,595$28,492$21,937$545,024
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
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 family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, Section B, Line 11B

“The board reviews the draft 990 and approves submission”

Part VI, Section B, Line 12C

“The board and staff verbally declare conflicts of interest once a year.”

Part VI, Section C, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Association for Black Economic Power
EIN
81-5486146
In Care Of
% MeLea Connelly
Phone
6127354351
Address
227 Colfax Avenue N Ste 230, Minneapolis, MN 55405
Doing Business As
Village Financial Cooperative

Signing Officer

Name
Me Lea Connelly
Title
VIsion and Strategy
Phone
6125887821
Signed
2019-05-08

Organization Details

Principal Officer
MeLea Connelly
Formed
2017
Legal Domicile
Mn
Voting Board Members
3
Independent Board Members
3
Employees
6
Volunteers
0
Supplemental Narrative

Additional Explanations

Part IX, line 11G

“| Description:, Amount:| other consulting - outreach, engagement, application consultation, marketing, etc., $62525| pass thru - organizing work, $9250|”

Raw XML AppendixShowing 400 of 502 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/Desc0We received a total of 1,900 pledged deposits representing over $4 million in accounts. We launched the New Day Loan as an alternative to PayDay lending and lent out over 20 loans representing $15,000. We worked with 20 emerging Black-led cooperative businesses as well as provided TA to local established cooperative businesses. We received approval of our CU application from the MN Department of Commerce as well as received verbal and financial support from the Mayor and City Council for this work. Over 25 local and national media outlets wrote articles for this work and we had 2 local news stations cover us for their evening news. We held 45 educational and outreach events and presented workshops at 5 national conferences reaching over 900 people directly around education and assistance towards our mission of Black Liberation through Cooperative Renaissance.
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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0276184
IRS990/OtherSalariesAndWagesGrp/TotalAmt0306926
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt08334
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/FundraisingAmt00
IRS990/PaymentsToAffiliatesGrp/ManagementAndGeneralAmt00
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt00
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/FundraisingAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt00
IRS990/PayrollTaxesGrp/ProgramServicesAmt00
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/FundraisingAmt00
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt00
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt00
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0154220
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt03128
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt010085
IRS990/PrincipalOfficerNm0MeLea Connelly
IRS990/PriorPeriodAdjustmentsAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0429408
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/FundraisingAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/ManagementAndGeneralAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/ProgramServicesAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0175845
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0215612
IRS990/PYSalariesCompEmpBnftPaidAmt037951
IRS990/PYTotalExpensesAmt0213796
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0429408
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-72704
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RelatedOrganizationsAmt00
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/ReservesMaintainedAmt00
IRS990/RevenueAmt056
IRS990/RoyaltiesGrp/FundraisingAmt00
IRS990/RoyaltiesGrp/ManagementAndGeneralAmt00
IRS990/RoyaltiesGrp/ProgramServicesAmt00
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/First5Years509Ind0X
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0472264
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0472264
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt056
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt056
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt056
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt056
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportTotal509Amt0472264
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0472264
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/Total509Grp/TotalAmt0472264
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0472320
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0472320
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/AgentTrusteeEtcInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt00
IRS990ScheduleD/BuildingsGrp/DepreciationAmt00
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt06592
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01362
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt07954
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt02300
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt02300
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0300
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt112375
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Lease
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1intangible Assets

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$145,683
Liabilities
$2,715
Net assets
$142,968
Revenue
$472,320
Expenses
$545,024
Net income
-$72,704
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.59$0.04$0.54$0.68$0.65$0.03
2023Detailed filing. Detailed filing data is available for this year.$0.52$0.01$0.51$0.18$0.49$0.31
2022Detailed filing. Detailed filing data is available for this year.$0.86$0.04$0.82$0.50$0.42$0.08
2021Detailed filing. Detailed filing data is available for this year.$0.76$0.02$0.73$0.27$0.51$0.24
2020Detailed filing. Detailed filing data is available for this year.$1.00$0.03$0.97$0.79$0.25$0.54
2019Detailed filing. Detailed filing data is available for this year.$0.44$0.01$0.43$0.98$0.70$0.29
2018Detailed filing. Detailed filing data is available for this year.$0.15$0.00$0.14$0.47$0.55$0.07
2017Summary only. Only limited summary data is available for this year.$0.22$0.01$0.22$0.43$0.21$0.22