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African Development Center

The African Development Center works within the African communities of Minnesota to start and sustain successful businesses, build wealth, and promote community reinvestment.

Mission Statement
Review Completed: 10/12/2011
1931 South 5th Street
Minneapolis, MN 55454
Phone: 612-333-4772
Fax: 612-746-0470
Other Names Used African Development Center of Minnesota
EIN 20-0553370
Principal Staff Hussein Samatar, Executive Director
Number of Full-Time Equivalents (FTE) 10
Number of Volunteers 12
Number of Clients Served 1800
Affiliations Community Development Financial Institution (CDFI); SBA MicroLender; HUD Certified - LHCA; NISHEC Adopter (National Industry Standards for Homeownership Education and Counseling); HOCMN Member (Home Ownership Center of Minnesota)
General Information
Board Chair Bamson Fadipe
Number of Board Members 6
Board meetings with quorum 4
Average Member Attendance at Board Meetings 5
Publicly Available Documents Most Recent 990
Most Recent Audit
Board
Accomplishments
The endeavor of comprehensive community economic development is a long and difficult one, however, there are still many successes being made towards the mission of the ADC, many of which are measurable in the short-term: *HOUSING: Historically, 42% of families from ADC's program go on to actually purchase homes -- three times the national Homestrech average of 14%. In 2010, ADC was able to train and counsel over 350 families state-wide and our percentage of families purchasing homes increased to 55%. For this year (as of June 2011), 247 families have been counseled in ADC's housing program. *FINANCIAL EDUCATION: In 2010, ADC was able to train and counsel 364 families state-wide on these fundamental financial literacy skills. For this year (as of June 2011), 209 families have received financial education assistance from ADC experts. *BUSINESS DEVELOPMENT: In 2010, 84 businesses graduated from our business training classes, which was an increase of 40% from 2009. Additionally, ADC made 57 loans in 2010, totaling nearly $1.2 Million to African-owned businesses in the Twin Cities. Despite uncertain economic times, this comfortably met our goal of increasing our lending services by 15-20%. 2011 has seen a focused effort on increasing technical assistance to clients, as well as increasing our data collection and processes for a more efficient program with improved impacts. For this year (as of August 2011), ADC business experts have spent over 1000 technical assistance hours with current and new clients. Additionally, 26 loans have been made in this same time period.
Current Goals
In addition to the continuance of the positive qualitative impact ADC has on the community in which it serves, as well as creating a strong presence and identity in the new cities in which it has opened offices in the past year, ADC is enacting strategies to see the following program outcomes obtained in the coming year: *HOUSING: - 10% increase in current high levels of families successfully purchasing homes after ADC trainings *FINANCIAL EDUCATION - Maintenance of high levels of families reporting increases in financial stability, improved credit status, and economic opportunities for the areas ADC has historically served, and the continuance of these levels into the new regions of Greater Minnesota *BUSINESS DEVELOPMENT - 20% annual increase of ADC lending portfolio - 80% survival rate of African-owned business that have utilized ADC services - 10% overall increase in African business within the communities ADC works
Community or Constituency Served
African immigrant and refugee communites
Geographic Area Served
Minnesota
Impact and Programs

3 Year Average Expenses

Program Services: $694,788 76.5%
Management: $161,284 17.8%
Fundraising: $52,416 5.8%

Unrestricted Net Assets

2010 2009 2008
End of Year: $702,444 $410,853 $298,555
Beginning of Year $410,853 $298,555 $420,467
Difference $291,591 $112,298 ($121,912)
Unrestricted Net Assets (End of Year), Current 990 $702,444
Based on information provided on 2008 to 2010
Financials
From the Council The African Development Center meets the Reserve Limits standard because some loan funds were not counted as part of the equation due to their nature as "pass through funds" or for their specific programatic purpose.
Comments
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List of Standards Met