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GROW BUSINESSES, BUILD WEALTH AND INCREASE REINVESTEMENT IN THE AFRICAN COMMUNITIES OF MINNESOTA
Source: IRS Form 990 (Tax Year 2024)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2024
Total Revenue
▼$4.6M
Program Spending
88%
of total expenses go to program services
Total Contributions
$3.1M
Total Expenses
▼$1.8M
Total Assets
$24.8M
Total Liabilities
▼$9.8M
Net Assets
$15M
Officer Compensation
→$367.8K
Other Salaries
$452.9K
Investment Income
$111.7K
Fundraising
▼N/A
Tax Year 2023 · Source: IRS Form 990, Schedule I (Grants and Other Assistance)
Total grants awarded: $69.8K
| Recipient | Location | Amount | Type | Purpose |
|---|---|---|---|---|
GEIRE PROPERTIES INC88-3031076 | MINNEAPOLIS, MN | $18.8K | Cash | TO HELP SMALL BUSINESS |
ARWA FASHION USA CO84-1836818 | MINNEAPOLIS, MN | $15K | Cash | TO HELP SMALL BUSINESS |
ADDIS TRAVEL SERVICES LLC13-4314759 | ST PAUL, MN | $7,500 | Cash | TO HELP SMALL BUSINESS |
PROCARE HEALTH CORP84-3737316 | EDEN PRAIRIE, MN | $7,500 | Cash | TO HELP SMALL BUSINESS |
PHOTO SHOP LLC81-2010371 | BROOKLYN PARK, MN | $7,500 | Cash | TO HELP SMALL BUSINESS |
NABIL PROPERTY LLC87-4833150 | EDEN PRAIRIE, MN | $7,500 | Cash | TO HELP SMALL BUSINESS |
GODSON TRUCKING LLC82-3584414 | WOODBURY, MN | $6,000 | Cash | TO HELP SMALL BUSINESS |
| Total | $69.8K | |||
MINNEAPOLIS, MN
$18.8K
MINNEAPOLIS, MN
$15K
ST PAUL, MN
$7,500
EDEN PRAIRIE, MN
$7,500
BROOKLYN PARK, MN
$7,500
EDEN PRAIRIE, MN
$7,500
WOODBURY, MN
$6,000
Source: USAspending.gov · Searched by organization name
Total Federal Funding
$7.8M
Awards Found
25
Department of the Treasury
$1.3M
PURPOSE: TO PROMOTE ECONOMIC REVITALIZATION AND COMMUNITY DEVELOPMENT THROUGH INVESTMENT IN AND FINANCIAL ASSISTANCE TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS). PLANNED ACTIVITIES: FINANCIAL ASSISTANCE MUST BE USED FOR FINANCIAL PRODUCTS, FINANCIAL SERVICES (REGULATED INSTITUTIONS ONLY), DEVELOPMENT SERVICES, LOAN LOSS RESERVES, AND CAPITAL RESERVES (REGULATED INSTITUTIONS ONLY), IN AN ELIGIBLE MARKET OR THE RECIPIENT’S APPROVED TARGET MARKET. END GOALS: THE GOAL OF THE FINANCIAL ASSISTANCE IS FOR CDFIS TO BUILD THEIR FINANCIAL CAPACITY TO LEND TO ELIGIBLE MARKETS AND/OR THEIR TARGET MARKETS, IN ORDER TO SERVE RURAL AND URBAN LOW INCOME PEOPLE, AND COMMUNITIES ACROSS THE NATION THAT LACK ADEQUATE ACCESS TO AFFORDABLE FINANCIAL PRODUCTS AND FINANCIAL SERVICES. BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: THE RIEGLE ACT (P.L. 103 325), THE STATUTE WHICH AUTHORIZES THE CDFI PROGRAM, REQUIRES THAT FINANCIAL ASSISTANCE AWARDS, INCLUDING BASE FINANCIAL ASSISTANCE (BASE FA), DISABILITY FUNDS FINANCIAL ASSISTANCE (DF FA), AND PERSISTENT POVERTY COUNTIES FINANCIAL ASSISTANCE (PPC FA), BE MATCHED WITH FUNDS FROM NON FEDERAL GOVERNMENT SOURCES AND COMPARABLE IN FORM AND VALUE TO THE FA AWARD. MODIFICATIONS WOULD BE REQUIRED IF THERE IS A CHANGE IN THE FORM AND/OR AMOUNT ORIGINALLY OBLIGATED FOR THE AWARD, BASED ON APPROVED MATCHING FUNDS. NOTE: MATCHING FUNDS ARE REQUIRED ONLY FOR ORGANIZATIONS APPLYING AS CATEGORY II/CORE FA APPLICANTS UNDER THE CDFI PROGRAM. MATCHING FUNDS ARE NOT REQUIRED FOR ANY NATIVE CDFI APPLICANTS OR HOUSING PRODUCTION FINANCIAL ASSISTANCE AWARDS (HP FA). ADDITIONALLY, MATCHING FUNDS ARE NOT REQUIRED FOR SMALL AND EMERGING CDFI ASSISTANCE (SECA) FA APPLICANTS AND HEALTHY FOOD FINANCING INITIATIVES (HFFI) FA APPLICANTS, PENDING FINAL FY 2025 APPROPRIATIONS LANGUAGE.
Department of the Treasury
$590K
PURPOSE: TO PROMOTE ECONOMIC REVITALIZATION AND COMMUNITY DEVELOPMENT THROUGH INVESTMENT IN AND FINANCIAL ASSISTANCE TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS). PLANNED ACTIVITIES: FINANCIAL ASSISTANCE MUST BE USED FOR FINANCIAL PRODUCTS, FINANCIAL SERVICES (REGULATED INSTITUTIONS ONLY), DEVELOPMENT SERVICES, LOAN LOSS RESERVES, AND CAPITAL RESERVES (REGULATED INSTITUTIONS ONLY), IN AN ELIGIBLE MARKET OR THE RECIPIENT’S APPROVED TARGET MARKET. END GOALS: THE GOAL OF THE FINANCIAL ASSISTANCE IS FOR CDFIS TO BUILD THEIR FINANCIAL CAPACITY TO LEND TO ELIGIBLE MARKETS AND/OR THEIR TARGET MARKETS, IN ORDER TO SERVE RURAL AND URBAN LOW INCOME PEOPLE, AND COMMUNITIES ACROSS THE NATION THAT LACK ADEQUATE ACCESS TO AFFORDABLE FINANCIAL PRODUCTS AND FINANCIAL SERVICES. BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: THE RIEGLE ACT (P.L. 103 325), THE STATUTE WHICH AUTHORIZES THE CDFI PROGRAM, REQUIRES THAT FINANCIAL ASSISTANCE AWARDS, INCLUDING BASE FINANCIAL ASSISTANCE (BASE FA), DISABILITY FUNDS FINANCIAL ASSISTANCE (DF FA), AND PERSISTENT POVERTY COUNTIES FINANCIAL ASSISTANCE (PPC FA), BE MATCHED WITH FUNDS FROM NON FEDERAL GOVERNMENT SOURCES AND COMPARABLE IN FORM AND VALUE TO THE FA AWARD. MODIFICATIONS WOULD BE REQUIRED IF THERE IS A CHANGE IN THE FORM AND/OR AMOUNT ORIGINALLY OBLIGATED FOR THE AWARD, BASED ON APPROVED MATCHING FUNDS. NOTE: MATCHING FUNDS ARE REQUIRED ONLY FOR ORGANIZATIONS APPLYING AS CATEGORY II/CORE FA APPLICANTS UNDER THE CDFI PROGRAM. MATCHING FUNDS ARE NOT REQUIRED FOR ANY NATIVE CDFI APPLICANTS OR HOUSING PRODUCTION FINANCIAL ASSISTANCE AWARDS (HP FA). ADDITIONALLY, MATCHING FUNDS ARE NOT REQUIRED FOR SMALL AND EMERGING CDFI ASSISTANCE (SECA) FA APPLICANTS AND HEALTHY FOOD FINANCING INITIATIVES (HFFI) FA APPLICANTS, PENDING FINAL FY 2025 APPROPRIATIONS LANGUAGE.
Small Business Administration
$182.3K
THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS.
Small Business Administration
$171.5K
EXPENSES FOR PROVIDING TECHNICAL ASSISTANCE INCLUDING (BUT NOT LIMITING TO)LOAN OFFICERS PREPARATIONS/ DELIVERY OF PRE/POST LOAN TECHNICAL ASSISTANCE, PERSONNEL EXPENSES, TRAINING, SUPPLIES, ETC.
Small Business Administration
$128.6K
THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS.
Small Business Administration
$119.7K
THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS.
Small Business Administration
$97K
MICROLOAN PROGRAM - TECHNICAL ASSISTANCE
Small Business Administration
$59.6K
MICROLOAN TECHNICAL ASSISTANCE AWARD
Small Business Administration
$42.6K
MICROLOAN PROGRAM - TECHNICAL ASSISTANCE GRANT
Department of Housing and Urban Development
$40.1K
HOUSING COUNSELING ASSISTANCE PROGRAM
Department of Housing and Urban Development
$26.5K
HOUSING COUNSELING ASSISTANCE PROGRAM
Department of Housing and Urban Development
$17.4K
HOUSING COUNSELING ASSISTANCE PROGRAM
Department of Housing and Urban Development
$13.3K
HOUSING COUNSELING ASSISTANCE PROGRAM
Department of Housing and Urban Development
$0
HOUSING COUNSELING ASSISTANCE PROGRAM
Source: Federal Audit Clearinghouse (fac.gov)
Total Audits
7
Clean Audits
2
Material Weakness
Yes
Noncompliance Issues
No
| Year | Status | Financial Report | Federal Expenditure | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2024 | Material Weakness | Unmodified (Clean) | $1.6M | No | 2025-06-25 |
| 2023 | Material Weakness | Unmodified (Clean) | $945.4K | No | 2024-08-01 |
| 2022 | Minor Findings | Unmodified (Clean) | $3.9M | No | 2023-06-29 |
| 2021 | Material Weakness | Unmodified (Clean) | $3.6M | No | 2022-09-29 |
| 2020 | Material Weakness | Unmodified (Clean) | $1.7M | No | 2021-09-21 |
| 2019 | Clean | Unmodified (Clean) | $1.4M | No | 2020-06-18 |
| 2018 | Clean | Unmodified (Clean) | $1.9M | No | 2019-07-02 |
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.6M
Financial Report
Unmodified (Clean)
Federal Expenditure
$945.4K
Financial Report
Unmodified (Clean)
Federal Expenditure
$3.9M
Financial Report
Unmodified (Clean)
Federal Expenditure
$3.6M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.7M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.4M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.9M
Tax Year 2024 · Source: IRS e-Filed Form 990Schedule J available
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Yes
Deductibility code: PC
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2024IRS e-File | $4.6M | $3.1M | $1.8M | $24.8M | $15M |
| 2023IRS e-File | $5.2M | $4.3M | $1.7M | $21.7M | $12.2M |
| 2022 | $4M | $3.3M | $2.2M | $17.8M | $8.7M |
| 2021 | $5.3M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
| Tax Year | Form Type | Source | Documents |
|---|---|---|---|
| 2024 | 990 | IRS e-File | PDF not yet published by IRSView Filing → |
| 2023 | 990 | DataIRS e-File | PDF not yet published by IRSView Filing → |
| 2022 | 990 | DataIRS e-File |
Financial data: IRS e-Filed Form 990 (Tax Year 2024)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2024)
Federal grants: USAspending.gov (live)
Organization info: IRS Business Master File
Tax-deductibility: IRS Publication 78
| Total |
|---|
| Nasibu Sareva | CEO | 50 | $201.7K | $0 | $28.9K | $230.6K |
| Felicia Ravelomanatsoa | CFO | 50 | $123.7K | $0 | $13.5K | $137.2K |
| Jo Ann Vano | Board President | 1 | $0 | $0 | $0 | $0 |
| Leah Mtegha | Board Secretary | 1 | $0 | $0 | $0 | $0 |
Nasibu Sareva
CEO
$230.6K
Hrs/Wk
50
Compensation
$201.7K
Related Orgs
$0
Other
$28.9K
Felicia Ravelomanatsoa
CFO
$137.2K
Hrs/Wk
50
Compensation
$123.7K
Related Orgs
$0
Other
$13.5K
Jo Ann Vano
Board President
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Leah Mtegha
Board Secretary
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Bruce W Nordin | Director | 1 | $0 | $0 | $0 | $0 |
| Daika Ismail | Director | 1 | $0 | $0 | $0 | $0 |
| Damon Jenkins | Director | 1 | $0 | $0 | $0 | $0 |
| Edwin Migiro | Director | 1 | $0 | $0 | $0 | $0 |
| Kaade Wallace | Director | 1 | $0 | $0 | $0 | $0 |
| Mike Stinson | Director | 1 |
Bruce W Nordin
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Daika Ismail
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Damon Jenkins
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
| $4.5M |
| $1.6M |
| $18.2M |
| $6.9M |
| 2020 | $3.2M | $3M | $1.2M | $11.3M | $3.9M |
| 2019 | $1.2M | $1.2M | $1M | $6.2M | $1.9M |
| 2018 | $1.2M | $1.1M | $952.3K | $6.1M | $1.7M |
| 2017 | $999.2K | $972.8K | $886.2K | $4.4M | $1.5M |
| 2016 | $752.6K | $728.8K | $838K | $3.5M | $1.3M |
| 2015 | $829.6K | $531.2K | $639.8K | $3.8M | $1.4M |
| 2014 | $776.1K | $693.6K | $661.6K | $3.9M | $1.2M |
| 2013 | $1.1M | $1M | $963.5K | $4.4M | $1.5M |
| 2012 | $719.3K | $589.8K | $1.1M | $4.1M | $1.3M |
| 2011 | $1.1M | $1M | $984.1K | $4.9M | $1.7M |
PDF not yet published by IRSView Filing → |
| 2021 | 990 | Data |
| 2020 | 990 | Data | PDF not yet published by IRS |
| 2019 | 990 | Data |
| 2018 | 990 | Data |
| 2017 | 990 | Data | PDF not yet published by IRS |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |
| 2011 | 990 | Data |
| 2010 | 990 | — |
| 2009 | 990 | — |
| 2008 | 990 | — |
| 2007 | 990 | — |
| 2006 | 990 | — |
| 2005 | 990 | — |
| 2004 | 990 | — |
| $0 |
| $0 |
| $0 |
| $0 |
| Scott Brophy | Director | 1 | $0 | $0 | $0 | $0 |
| Sean Wold | Director | 1 | $0 | $0 | $0 | $0 |
| Ubah Ali Jama | Director | 1 | $0 | $0 | $0 | $0 |
Edwin Migiro
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Kaade Wallace
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Mike Stinson
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Scott Brophy
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Sean Wold
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Ubah Ali Jama
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0