2022-07-11T08:27:40-05:00 2021-12-31 450250958 Eide Bailly LLP 800 Nicollet Mall Ste 1300 Minneapolis MN 554027033 990 2021-01-01 410977257 Metropolitan Economic Development Association METR 6123326332 1256 Penn Avenue North 4800 Minneapolis MN 55411 Alfredo V Martel President & CEO 6123326332 2022-07-06 1 Alfredo Martel 999009999 Deb Nelson CPA P01264758 6122536500 2022-07-06 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z Alfredo V Martel 1256 Penn Avenue North 4800 Minneapolis MN 55411 12064856 0 X www.meda.net X 1971 MN Helping minority entrepreneurs succeed. 33 32 32 200 0 0 5600139 10049179 1643075 2009557 276286 275 69715 5845 7589215 12064856 0 490000 0 0 3116681 3159526 0 0 1047174 2918241 4285154 6034922 7934680 1554293 4130176 39495187 45113584 30309101 31797322 9186086 13316262 X Helping minority entrepreneurs succeed. 0 0 5661302 490000 2015402 Meda's mission is to Help BIPOC Entrepreneurs Succeed. Our theory of change is that successful BIPOC entrepreneurship creates wealth in communities of color which is a primary strategy to build a more just and fair economy. To fulfil our mission, Meda provides integrated, wrap-around services in the areas all entrepreneurs need to be successful to grow and scale their businesses- Management Education, Money and Market. Meda's services and products are available to Black, Indigenous, People of Color (BIPOC) Entrepreneurs exclusively. In 2021, Meda focused again on helping BIPOC Entrepreneurs Respond To, Recover From, and Retool For the COVID-19 pandemic. We provided emergency and sophisticated business consulting to help BIPOC businesses re-open their doors. Our CDFI provided Paycheck Protection Program funding, lines of credit and other term debt products to fund hiring, inventory and equipment. Meda's Minnesota MBDA Business Center and Ascend Twin Cities connected BIPOC contractors to secure contracts that lead to sustainable growth.In all, Meda served 702 BIPOC Entrepreneurs, helping them secure $24.1 million in finance and winning $50.3 million in contracts. These results led to the creation or maintenance of 1,632 jobs in these businesses. 5661302 1 1 0 1 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 32 0 1 32 1 0 0 0 0 0 0 0 0 0 0 0 0 X 33 32 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X X Daniel Holmquist 6122596572 1256 Penn Ave N Ste 4800 Minneapolis MN 55411 Alfredo V Martel President & CEO 40.00 X X 323590 0 36566 Daniel Holmquist Vice President - Finance 40.00 X 159303 0 38439 Patrick Pariseau - Vice President - Lending & Consulting 40.00 X 146617 0 21489 Andrew J O'Leary Chief Development Officer 40.00 X 125805 0 23603 Uri Camarena-Micahel Director of Business Consulting 40.00 X 110759 0 33025 Craig Veurink Chair of the Board 10.00 X X 0 0 0 Barbara Butts Williams Chair of the Board (Jan-Jun) 4.00 X X 0 0 0 Hoyt Hsaio Vice Chair/Treasurer 10.00 X X 0 0 0 Maria Reitan Vice Chair (Jan-Jun) 4.00 X X 0 0 0 John Stout Secretary 10.00 X X 0 0 0 Al Mendoza Director 4.00 X 0 0 0 Amelia Hardy Director 4.00 X 0 0 0 Andrea Burns Director (Sept-Dec) 4.00 X 0 0 0 Andrea Novak Director 4.00 X 0 0 0 Binh Tran Director 4.00 X 0 0 0 Brad Pomerleau Director 4.00 X 0 0 0 Camille Helou Director 4.00 X 0 0 0 Darren Moquist Director 4.00 X 0 0 0 David Rudolph Director 4.00 X 0 0 0 Gloria Contreras Edin Director 4.00 X 0 0 0 Gloria Freeman Director 4.00 X 0 0 0 James Garness Director 4.00 X 0 0 0 Jashan Eison Director 4.00 X 0 0 0 Jeffrey Payne Director 4.00 X 0 0 0 Jim Collins Director (Mar-Dec) 4.00 X 0 0 0 Joel Lebewitz Director 4.00 X 0 0 0 John Rasmussen Director (Mar-Dec) 4.00 X 0 0 0 John JT Taylor Director 4.00 X 0 0 0 Joseph Wallace Director (Jun-Dec) 4.00 X 0 0 0 Kevin Besikof Director 4.00 X 0 0 0 Laura Helmueller Director 4.00 X 0 0 0 Martha Currea Director 4.00 X 0 0 0 Matthew Lyons Director 4.00 X 0 0 0 Megan Selby Director 4.00 X 0 0 0 Michael Mathews Director 4.00 X 0 0 0 Mimi Bekele Director 4.00 X 0 0 0 Rich Tofte Director (Jan-Mar) 4.00 X 0 0 0 Sara Idle Director 4.00 X 0 0 0 Steven Singer Director 4.00 X 0 0 0 Vicki Stute Director 4.00 X 0 0 0 866074 0 153122 6 0 1 0 Fredrikson & Byron PA 200 South 6th St 400 Minneapolis MN 55402 Legal Services 239720 The Financial Services Consulting 100 South Fifth St Ste 1900 Minneapolis MN 55402 Program Consulting 109330 2 2388935 7660244 10049179 Client Service Revenue 611430 1130050 1130050 Interest From PRI 900099 879507 879507 2009557 275 275 Miscellaneous 900099 5845 5845 5845 12064856 2015402 0 275 X 385000 385000 105000 105000 558294 203524 228646 126124 1959218 1343119 320603 295496 77471 51794 12495 13182 388828 253553 68048 67227 175715 111154 37899 26662 223600 1287 222313 38800 38800 1742486 1152031 180137 410318 49523 23287 11433 14803 62251 25000 924 36327 139265 79580 34816 24869 3239 3039 200 9657 415 7555 1687 374350 374312 38 110589 63194 27647 19748 58273 33299 14568 10406 Bad Debt/Loan Loss Rese 1195459 1195459 Educational Workshops 253877 253877 Bank Fees 11084 4397 6687 Memberships 9447 9322 125 3254 2020 1234 7934680 5661302 1226204 1047174 14955159 22799451 1422596 623169 123986 15565 194038 327114 770508 383934 490337 386574 116326 116610 400000 650000 21413917 19900674 378828 294427 39495187 45113584 1466647 777552 249674 1275265 24284017 26323085 609700 3699063 3421420 30309101 31797322 X 5302400 11201096 3883686 2115166 9186086 13316262 39495187 45113584 4130176 0 X 0 1 X 1 1 1 X 5284138 6172476 4501703 5600139 10049179 31607635 5284138 6172476 4501703 5600139 10049179 31607635 6572240 25035395 1171 640 673 56283 275 59042 6104 9393 571 8996 5845 30909 31697586 7472800 0.78980 0.85420 X Schedule A, Part II, Line 10, Explanation of Other Income: Miscellaneous - 2017 Amount: $ 6,104. 2018 Amount: $ 9,393. 2019 Amount: $ 571. 2020 Amount: $ 8,996. 2021 Amount: $ 5,845. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 42250 0 0 42250 0 Part II-B, Line 1: Provided activity and economic impact information to State legislators in support of State appropriated funds to support services and programs. 174050 86994 87056 596458 296940 299518 386574 Program-Related Loans 19900674 C 19900674 Due to Third Party Loan Participants 2958645 Lease Liabilities 462775 3421420 X 12064856 0 12064856 0 12064856 7934680 0 7934680 0 7934680 Part X, Line 2: Meda undergoes an annual analysis of its various tax positions, assessing the likelihood of those positions being upheld upon examination with relevant tax authorities. As of December 31, 2021 and 2020, no amounts were recorded as a result of this analysis. If Meda is subject to interest or penalties on underpaid income taxes, they will be recorded as income tax expense in the period in which they are incurred. 1 Yahweh laundromat and cleaning services 1727C Beam Ave Suite C Maplewood MN 55109 821481112 15000 0 COVID Mitigation/Recovery Grants TLC Millimeter Wave Products Inc 1415 West River Road N Minneapolis MN 55411 800882095 15000 0 COVID Mitigation/Recovery Grants Archived Expressions LLC dba Mind's Eye Comics 200 E Travelers Trail Suite 105 Burnsville MN 55337 471743830 15000 0 COVID Mitigation/Recovery Grants Midwest Select Contracting LLC 2112 93rd Trail Brooklyn Park MN 55444 364774133 15000 0 COVID Mitigation/Recovery Grants JAB Holdings LLC 7455 Currell Blvd Suite 300 Woodbury MN 55125 821976088 15000 0 COVID Mitigation/Recovery Grants Charles Carter DBA Tasted of Rhondo 976 Concordia Ave Saint Paul MN 55104 814547603 15000 0 COVID Mitigation/Recovery Grants CarePoint Home Health LLC 8170 Old Carriage Court Suite 200 Shakopee MN 55379 821992091 15000 0 COVID Mitigation/Recovery Grants A Plus Universal Child Care and Learning Center 1208 Shakopee Town Square Shakopee MN 55379 831964342 15000 0 COVID Mitigation/Recovery Grants ' The Harvest ' Enterprise LLC 3373 Coon Rapids Blvd Coon Rapids MN 55433 274690127 15000 0 COVID Mitigation/Recovery Grants Trust Home Care LLC 100 S 5th Street Suite 1900 Minneapolis MN 55402 814266226 10000 0 COVID Mitigation/Recovery Grants The Ovation Group 336 Maple Street Saint Paul MN 55106 371901937 10000 0 COVID Mitigation/Recovery Grants Satisfied carpet cleaning 6820 Fremont Place North Brooklyn center MN 55430 813172391 10000 0 COVID Mitigation/Recovery Grants SBES LLC 100 So Fifth St Suite 1900 MInneapolis MN 55402 10000 0 COVID Mitigation/Recovery Grants Rochester Home Care 2411 E Franklin Ave Minneapolis MN 55406 900869049 10000 0 COVID Mitigation/Recovery Grants Platinum Staffing Grouop Inc 5831 74th Ave N Minneapolis MN 55443 452633674 10000 0 COVID Mitigation/Recovery Grants Me and I LLC DBA Me and I Fitness 2111 Plymouth Ave N Minneapolis MN 55411 814881703 10000 0 COVID Mitigation/Recovery Grants LM Display 951 East American Blvd Bloomington MN 55420 274866336 10000 0 COVID Mitigation/Recovery Grants La fusion restaurant llc dba La fusion cafe 360 Sherman St Suite 165 Saint Paul MN 55102 821550442 10000 0 COVID Mitigation/Recovery Grants Koficore Inc 1618 Harmon place Minneapolis MN 55403 020776960 10000 0 COVID Mitigation/Recovery Grants Gramsky's 30 8th Avenue South Hopkins MN 55343 461953844 10000 0 COVID Mitigation/Recovery Grants Fearless Commerce 1041 Grand Avenue Suite 502 Saint Paul MN 55105 822877978 10000 0 COVID Mitigation/Recovery Grants F and G Beauty Supply 6930 Brooklyn Blvd Suite 9 Brooklyn Park MN 55430 274707260 10000 0 COVID Mitigation/Recovery Grants Dragon Wok LLC DBA Dragon Wok Delivery 805 E 38th Street Minneapolis MN 55407 10000 0 COVID Mitigation/Recovery Grants Christina's Child Care Center Inc DBA Christi's Daycare 5510 West Broadway Crystal MN 55428 800501443 10000 0 COVID Mitigation/Recovery Grants C Stone Landscape LLC 511 Central Ave W Saint Paul MN 55103 470998669 20000 0 COVID Mitigation/Recovery Grants Anytime Fitness 2110 West Broadway Avenue Minneapolis MN 55411 455374149 10000 0 COVID Mitigation/Recovery Grants Accord Medical Inc 1815 Nicollet Ave Minneapolis MN 55411 453692164 10000 0 COVID Mitigation/Recovery Grants 0 27 COVID Mitigation/Recovery Grants 11 105000 Part I, Line 2: The grants are general operating grants without any specific use restrictions so there is no post award monitoring. X X X 0 0 0 0 0 0 0 1 0 Alfredo V Martel President & CEO 271590 0 52000 0 0 0 8700 0 28064 0 360354 0 0 0 Daniel Holmquist Vice President - Finance 149303 0 10000 0 0 0 8065 0 30572 0 197940 0 0 0 Patrick Pariseau - Vice President - Lending & Consulting 135617 0 11000 0 0 0 7406 0 14281 0 168304 0 0 0 Part I, Line 7 Officers are eligible for bonuses based on annual performance reviews. The bonuses are determined by the President and Board of Directors. Please see Schedule J, Part II, column (B)(ii) for the bonus amounts awarded to officers during 2021. Form 990, Part VI, Section A, line 1a The Executive Committee is composed of three or more designated board members. Unless specified by action of the board, the Executive Committee shall have and exercise the authority of the board with respect to the business of the corporation in the intervals between meetings of the board. The Executive Committee shall at all times be subject to the control and direction of the board. Form 990, Part VI, Section B, line 11b A draft copy of the Form 990 is provided to the Finance Audit Committee. The Finance Audit Committee reviews the draft Form 990, addressing any comments or concerns, and then makes a recommendation to the Board of Directors for approval. A copy is provided to the board and upon review and approval of the draft Form 990 by the Board of Directors the form is filed. Form 990, Part VI, Section B, line 12c Conflict of interest statements are issued every year to all directors and employees. These individuals disclose applicable conflicts and sign as to compliance with the policy. The Meda Governance Committee reviews all statements to review any disclosed potential conflicts of interest. The Governance Committee documents any actions undertaken. The person with the conflict of interest is excluded from the discussion and approval of the activity. Form 990, Part VI, Section B, line 15 Meda's Personnel Committee performs an annual review on the CEO. This review involves collecting feedback from the management team and the Board of Directors. The Director of Finance and Administration provides the Personnel Committee with a salary range comprised from comparatives of similar nonprofits. The Personnel Committee recommends a compensation adjustment for approval by the board. Meda uses a similar process for other officers and all employees. Each individual undergoes an annual performance review with their supervisor. Supervisors award merit adjustments from a merit pool identified in the approved operational budget. Form 990, Part VI, Section C, line 19 These documents are made available upon request. Form 990, Part IX, line 11g Professional Services: Program service expenses 991,465. Management and general expenses 148,816. Fundraising expenses 397,620. Total expenses 1,537,901. Equipment Lease & Service Contracts: Program service expenses 160,566. Management and general expenses 31,321. Fundraising expenses 12,698. Total expenses 204,585.