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African Development Center of Minnesota

The Mission of the African Development Center is to grow businesses, build wealth, and increase reinvestment in the African communities of Minnesota.

Mission Statement
1931 S 5th Street
Minneapolis, MN 55454
Minneapolis, MN 55454
Phone: 6123334772
Other Names Used African Development Center of Minnesota ADC
EIN 20-0553370
Principal Staff Nasibu Sareva
Number of Full-Time Equivalents (FTE) 6
Number of Volunteers 25
Number of Clients Served 1500
Tags / Keywords ADC ADC of MN ADCMN
General Information
Board Chair Jo Ann Vano
Number of Board Members 7
Board meetings with quorum
Average Member Attendance at Board Meetings 4.66666666666667
Board
Major Programs
Business Development$354,000
Housing$354,000
Financial Education$354,000
Accomplishments
We were able to achieve 90% of our goals in housing and financial literacy; as well as meeting 175% of our financing and business development goals. We were able to create/retain more than 106 jobs through financing new and existing businesses.
Current Goals
1. Housing: Prepurchase education for 245 households Prepurchase counseling for150 households/individuals 2. Financial Education: Provide 5 Financial Workshops 3. Business Dev't: Provide prefinancing assistance for 20 clients Provide bus/development classes for 100 clients Provide financing to 20 clients Provide post financing tech assistance for a minimum of 4000 hours
Community or Constituency Served
Primary constituents are Refugees and New African Immigrants, African Americans
Geographic Area Served
Twin Cities metro area, and southern parts of greater Minnesota
Impact and Programs

3 Year Average Expenses

Program Services: $745,590 74.4%
Management: $174,134 17.4%
Fundraising: $82,024 8.2%

Unrestricted Net Assets

2013 2012 2011
End of Year: $569,289 $414,501 $419,598
Beginning of Year $414,501 $419,598 $702,444
Difference $154,788 ($5,097) ($282,846)
Unrestricted Net Assets (End of Year), Current 990 $569,289
Based on information provided on 2011 to 2013
Financials
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