2013-07-18T08:17:26-05:00 2012-12-31 200553370 MAHONEYULBRICHCHRISTIANSEN & RUSS PA 30 EAST PLATO BOULEVARD SAINT PAUL MN 551071809 990 2012-01-01 200553370 AFRICAN DEVELOPMENT CENTER AFRI 6123334772 1931 5TH STREET SOUTH MINNEAPOLIS MN 55454 HUSSEIN SAMATAR 6123334772 2013-06-06 1 DANIEL J FLICEK P00076153 6512276695 2013-06-06 2012 2016-02-24 21:20:13Z HUSSEIN SAMATAR 1931 5TH STREET SOUTH MINNEAPOLIS MN 55454 730573 0 X WWW.ADCMINNESOTA.ORG X 2002 MN ADC WORKS WITHIN THE AFRICAN COMMUNITIES OF MINNESOTA TO START AND SUSTAIN SUCCESSFUL BUSINESSES, BUILD ASSETS, AND PROMOTE COMMUNITY REINVESTMENT. 6 6 12 14 0 0 1000686 589813 105750 118376 8248 3148 0 7984 1114684 719321 0 11118 0 0 586839 631072 6169 0 77099 391072 415478 984080 1057668 130604 -338347 4931777 4055940 3256829 2719339 1674948 1336601 X ADC'S MISSION IS TO WORK WITHIN AFRICAN COMMUNITIES IN MINNESOTA TO START AND SUSTAIN SUCCESSFUL BUSINESSES, BUILD ASSETS, AND PROMOTE COMMUNITY REINVESTMENT. 0 0 805073 11118 118376 ADC'S CULTURALLY COMPETENT BUSINESS DEVELOPMENT SERVICES AND ITS PARTNERSHIPS WITH CRUCIAL FUNDING SOURCES HAVE DIRECTLY CONTRIBUTED TO THE SURGE IN AFRICAN-OWNED BUSINESSES THROUGHOUT MINNESOTA. IN ADDITION TO ONGOING TECHNICAL ASSISTANCE, ADC OFFERS AT LEAST THREE START-UP BUSINESS WORKSHOPS EACH YEAR IN THE TWIN CITIES AND AT LEAST TWO IN GREATER MINNESOTA IN 2012 (WILLMAR/ST. CLOUD AND ROCHESTER). MORE THAN 100 BUSINESS CLASS GRADUATES PARTICIPATED IN WORKSHOPS IN THE TWIN CITIES AND GREATER MN. AFTER COMPLETION OF THE WORKSHOP, CLIENTS READY TO START THEIR BUSINESSES ENGAGE IN ONE-ON-ONE GUIDANCE WITH ADC'S BUSINESS LENDERS. IN 2012, ADC MADE 14 LOANS; LEVERAGED OVER $230K WITH A TOTAL PROJECT COSTS OF $523.5K, CREATED 29 NEW JOBS AND RETAINED 19. ADDITIONALLY, ADC HOLDS "HOMESTRETCH" WORKSHOPS THE FIRST SATURDAY OF EACH MONTH FOR FIRST-TIME HOME BUYERS IN THE TWIN CITIES. OVER 20 WORKSHOPS WERE HELD THROUGHOUT THE YEAR IN GREATER MINNESOTA. IN 2012, NEARLY 400 COMMUNITY MEMBERS SUCCESFULLY COMPLETED THESE WORKSHOPS. 805073 1 1 0 1 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 8 0 1 12 1 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X X X AFRICAN DEVELOPMENT CENTER 6123334772 1931 5TH STREET SOUTH MINNEAPOLIS MN 55454 X ABDIRASHID SHIRE 1.00 X 0 0 0 JO ANN VANO 1.00 X X 0 0 0 BAMSON FADIPE 1.00 X X 0 0 0 LEAH MTEGHA 1.00 X 0 0 0 YUSUF AHMED 1.00 X 35811 0 4541 ABDRASHID SAID 1.00 X 0 0 0 ABDIKAFAR ADEN 1.00 X 0 0 0 HUSSEIN SAMATAR 40.00 X 92540 0 7322 128351 0 11863 0 0 0 0 0 81492 508321 589813 PROGRAM SERVICE FEES 900099 72652 72652 INTEREST INCOME-LOANS 900099 61102 61102 SWEDISH DELEGATION PAY 900099 9388 9388 MISCELLANEOUS INCOME 900099 4368 4368 LOSS FROM SUBSIDIARIES 900099 -29134 -29134 118376 3148 3148 19236 11252 7984 7984 719321 118376 0 11132 10118 10118 1000 1000 99862 52428 34374 13060 457955 349191 80822 27942 27848 27628 141 79 45407 32759 9396 3252 2857 2857 27477 12625 14852 9000 9000 34164 30018 4146 4943 4218 725 55782 47396 8226 160 2550 2283 267 102000 86700 10300 5000 14479 13631 448 400 24446 16024 556 7866 25273 25111 162 23173 19695 3478 7627 6308 1319 CONSULTANTS 40185 25418 4487 10280 PROVISION FOR LOAN LOSS 24685 24685 PROGRAM EXPENSES 10607 10607 MISCELLANEOUS 6230 4373 1797 60 1057668 805073 175496 77099 203792 192352 1169052 780918 530000 500000 35787 83527 2440363 1954817 27359 229 209549 139110 71675 70439 453749 473658 0 0 4931777 4055940 48129 53235 1166667 1160718 2042033 1505386 3256829 2719339 X 419598 414501 1255350 922100 1674948 1336601 4931777 4055940 -338347 0 X X 0 1 X 1 0 X 533044 1185189 1345554 1000686 589813 4654286 533044 1185189 1345554 1000686 589813 4654286 1046936 3607350 15578 9603 7578 8248 3148 44155 4698441 621518 0.76780 0.76300 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 9000 9000 0 EXPLANATION OF LOBBYING ACTIVITIES: PART II-B, LINE 1: THE AFRICAN DEVELOPMENT CENTER PAID $9,000 TO ALL MEDIA PUBLIC AFFAIRS FOR THE SERVICES OF A LOBBYIST THEY HIRED TO LOBBY THE STATE LEGISLATURE REGARDING FUNDING FOR THE JOBS RELATED PROGRAM. 209549 139110 70439 70439 INVESTMENT IN SUBSIDIARIES 473658 F 473658 FUNDS HELD FOR LOANS 72882 LOAN PARTICIPATIONS 1081254 DUE TO STATE OF MINNESOTA 351250 1505386 X DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: ADC IS CLASSIFIED AS A TAX-EXEMPT ORGANIZATION UNDER MINNESOTA STATUTE 290.05 AND SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM PRIVATE FOUNDATION STATUS UNDER SECTION 509(A)(1) OF THE INTERNAL REVENUE CODE AND IS SUBJECT TO INCOME TAXES ONLY ON NET UNRELATED BUSINESS INCOME. ADC DID NOT HAVE ANY UNRELATED BUSINESS INCOME IN 2012 OR 2011. FEDERAL AND STATE TAX AUTHORITIES GENERALLY HAVE THE RIGHT TO EXAMINE THE CURRENT AND THREE PREVIOUS YEARS OF INCOME TAX RETURNS. THE COMPANIES ARE NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION. ANNUAL GALA 19236 19236 11252 19236 19236 11252 11252 7984 1 0 0 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: SMALL GRANTS ARE GIVEN TO COMMUNITY ORGANIZATIONS WHO ARE ALIGNED IN ADC'S MISSION AND VALUES. ADC WORKS CLOSELY AND MAINTAINS CLOSE CONTACT WITH THESE ORGANIZATIONS. FORM 990, PART VI, SECTION B, LINE 11 THE EXECUTIVE AND FINANCE COMMITTEE REVIEWS THE FORM 990, AND THEN THE BOARD ACCEPTS THE RECOMMENDATION OF THE COMMITTEE. NEXT YEAR AFRICAN DEVELOPMENT CENTER WILL BE FORMING AN AUDIT COMMITTEE, AND THEY WILL BE INVOLVED IN REVIEWING THE 990 AS WELL. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS SIGN A DOCUMENT TO DISCLOSE ANNUAL INTERESTS THAT COULD GIVE RISE TO CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 EMPLOYEES FILL OUT AN EVALUATION FORM THAT WILL BE DISCUSSED BY THE BOARD OF DIRECTORS FOR THE EXECUTIVE DIRECTOR'S COMPENSATION INCREMENT. THE EXECUTIVE DIRECTOR EVALUATES EMPLOYEE'S PERFORMANCES AND DETERMINES THE COMPENSATION BASED ON THEIR PERFORMANCES AND COMPARABILITY DATA. FORM 990, PART VI, SECTION C, LINE 18 ADC HAS ITS FORM 990 PUBLICLY AVAILABLE AND IT IS ALWAYS POSTED ON THE ORGANIZATION'S WEBSITE. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANICAL STATEMENTS ARE AVAILABLE TO THE PUBLIC AND ARE ALWAYS POSTED ON THE ORGANIZATION'S WEBSITE. COMPENSATION PAGE 7, PART VII, SECTION A. DURING THE FIRST QUARTER OF 2012, ABDIRASHID SERVED ON THE BOARD OF DIRECTORS OF ADC. DURING THE YEAR, HE STEPPED DOWN AND WAS HIRED AS THE EMERGING MARKETS MANAGER IN WILLMAR. NONE OF THE COMPENSATION HE RECEIVED WAS RELATED TO HIS TIME SERVING ON THE BOARD. FORM 990, PART XII, LINE 2C THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. ADC FINANCIAL SERVICES INC 1808 RIVERSIDE AVENUE SUITE 206 MINNEAPOLIS MN 55454 260564229 MORTGAGE ORIGINATION MN N/A C 56214 1.00000 0 ADC COMMERCIAL REAL ESTATE INC 1808 RIVERSIDE AVENUE SUITE 206 MINNEAPOLIS MN 55454 264165628 COMMERCIAL REAL ESTATE MN N/A C 243228 2022272 1.00000 0 MGM COMMUNITY PARTNERS LLC 663 UNIVERSITY AVENUE SAINT PAUL MN 55104 203436698 COMMERCIAL REAL ESTATE MN N/A C -62278 829 0.25000 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 ADC COMMERCIAL REAL ESTATE INC K 102000 ACTUAL AMOUNT PAID.