2021-07-06T10:37:57-05:00 2020-12-31 450250958 Eide Bailly LLP 800 Nicollet Mall Ste 1300 Minneapolis MN 554027033 990 2020-01-01 410977257 Metropolitan Economic Development Association METR 6123326332 1256 Penn Avenue North No 4800 Minneapolis MN 55411 Alfredo V Martel CEO 6123326332 2021-06-30 1 Alfredo Martel 999009999 Deb Nelson CPA P01264758 6122536500 2021-06-30 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z Alfredo V Martel 1256 Penn Avenue North No 4800 Minneapolis MN 55411 7685776 0 X www.meda.net X 1971 MN Helping minority entrepreneurs succeed. 31 30 33 194 0 0 4501703 5600139 1422146 1643075 673 276286 -68219 69715 5856303 7589215 0 0 0 0 3419926 3116681 0 0 713543 3279157 2918241 6699083 6034922 -842780 1554293 26982294 39495187 19350501 30309101 7631793 9186086 X Helping minority entrepreneurs succeed. 0 0 4616636 1652071 In response to the COVID-19 pandemic and civil unrest, Meda provided 9,000+ hours of technical assistance to over 500 BIPOC-owned businesses as they respond and recover from the pandemic and retool for the future.Meda made loans totaling $12.1 million to 165 businesses in 2020.This work led to the retention or creation of 1,564 jobs in BIPOC-owned businesses.Meda also assisted over 350 BIPOC-owned businesses apply for emergency lending programs including SBA Economic Injury Disaster Loans, PPP and DEED Emergency Loan Funds. Meda helped clients secure over $40 million in emergency funding.Meda was also the lead operator in disbursing DEED Emergency Loan Funds financing 89 businesses with a total of $2.7 million in financing.Meda is also a lead operator in the DEED Small Business Relief Grant Program and Hennepin County Small Business Grant. Meda has helped distribute $11 million in grants to over 1,100 small businesses. 4616636 1 1 0 1 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 26 0 1 33 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 31 30 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 259296 0 18325 Daniel Holmquist Vice President - Finance 40.00 X 154843 0 36485 Patrick Pariseau - Vice President - Lending & Consulting 40.00 X 142652 0 20236 Uri Camarena-Micahel Director of Business Consulting 40.00 X 107463 0 36781 Andrew J O'Leary Chief Development Officer 40.00 X 121160 0 22695 Susan Gall Chief of Operations 40.00 X 104563 0 16940 Barbara Butts Williams Chair of the Board 4.00 X X 0 0 0 Joel Lebewitz Vice Chair 4.00 X X 0 0 0 Matthew Lyons Vice Chair 4.00 X X 0 0 0 Camille Helou Vice Chair 4.00 X X 0 0 0 Hoyt Hsaio Vice Chair/Tresurer 4.00 X X 0 0 0 Maria Reitan Vice Chair 4.00 X X 0 0 0 Craig Veurink Vice Chair 4.00 X X 0 0 0 Gene Sieve Vice Chair (Jan-May) 4.00 X X 0 0 0 Nanc Brooks Vice Chair (Jan-May) 4.00 X X 0 0 0 John Stout Secretary 4.00 X X 0 0 0 Al Mendoza Director 4.00 X 0 0 0 Amelia Hardy Director (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 Darren Moquist Director 4.00 X 0 0 0 David Rudolph Director 4.00 X 0 0 0 Gloria Contreras Edin Director (Jun-Dec) 4.00 X 0 0 0 Gloria Freeman Director 4.00 X 0 0 0 James Garness Director (Mar-Dec) 4.00 X 0 0 0 Jashan Eison Director 4.00 X 0 0 0 Jeffrey Payne Director 4.00 X 0 0 0 John JT Taylor Director (Mar-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 Megan Selby Director 4.00 X 0 0 0 Mimi Bekele Director 4.00 X 0 0 0 Rich Tofte Director 4.00 X 0 0 0 Sara Idle Director 4.00 X 0 0 0 Shawn Quant Director (Jan-May) 4.00 X 0 0 0 Steven Singer Director 4.00 X 0 0 0 Vicki Stute Director 4.00 X 0 0 0 889977 0 151462 6 0 1 0 Fredrikson & Byron PA 200 South 6th St 4000 Minneapolis MN 55402 Government Regulations and Legal Service 108455 1 226350 1811505 3562284 5600139 Interest From PRI 900099 861677 861677 Client Service Revenue 611430 756398 756398 $1MM Challenge 900099 25000 25000 1643075 399 399 55884 0 55884 55884 55884 363038 87151 275887 275887 275887 14245 226350 9410 4835 4835 Miscellaneous 900099 8996 8996 8996 7589215 1652071 0 337005 X 469341 168583 203522 97236 2014201 1585006 187563 241632 69327 48674 11013 9640 383183 268629 67254 47300 180629 122635 37290 20704 14658 3277 11381 38280 38280 1245017 1006793 42687 195537 35689 17283 5454 12952 93105 33196 1992 57917 165736 114358 38119 13259 12473 9983 619 1871 2491 1240 911 340 287181 283952 3229 118079 81475 27158 9446 49795 34358 11453 3984 Bad Debt/Loan Loss Rese 822230 822230 Bank Fees 17455 8029 9426 Memberships 9007 7319 1688 Educational Workshops 6935 6935 110 73 37 6034922 4616636 704743 713543 6271315 14955159 1649424 1422596 88736 123986 141208 194038 763681 273344 682101 490337 115865 116326 200000 400000 17370720 21413917 462925 378828 26982294 39495187 446931 1466647 397357 249674 17447539 24284017 609700 1058674 3699063 19350501 30309101 X 4777064 5302400 2854729 3883686 7631793 9186086 26982294 39495187 1554293 0 X 0 1 X 1 1 1 X 6633912 5284138 6172476 4501703 5600139 28192368 6633912 5284138 6172476 4501703 5600139 28192368 4030458 24161910 2884 1171 640 673 56283 61651 5811 6104 9393 571 8996 30875 28284894 6206613 0.85420 0.84040 X Schedule A, Part II, Line 10, Explanation of Other Income: Miscellaneous - 2016 Amount: $ 5,811. 2017 Amount: $ 6,104. 2018 Amount: $ 9,393. 2019 Amount: $ 571. 2020 Amount: $ 8,996. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 19750 0 0 19750 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 62138 111912 589631 211206 378425 490337 Program-Related Loans 21413917 C 21413917 Due to Third Party Loan Participants 3177813 Lease Liabilities 521250 3699063 X 7589215 0 7589215 0 7589215 6034922 0 6034922 0 6034922 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, 2020 and 2019, 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. Gala 240595 226350 14245 3780 5630 240595 226350 14245 3780 5630 9410 4835 X X X 0 0 0 0 0 0 0 1 0 Alfredo V Martel President & CEO 259296 0 0 0 0 0 0 0 18519 0 277815 0 0 0 Daniel Holmquist Vice President - Finance 144843 0 10000 0 0 0 7842 0 28841 0 191526 0 0 0 Patrick Pariseau - Vice President - Lending & Consulting 133652 0 9000 0 0 0 6733 0 13701 0 163086 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 2020. Form 990, Part VI, Section A, line 1 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 828,472. Management and general expenses 33,317. Fundraising expenses 183,012. Total expenses 1,044,801. Equipment Lease & Service Contracts: Program service expenses 178,321. Management and general expenses 9,370. Fundraising expenses 12,525. Total expenses 200,216.