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Helping minority entrepreneurs succeed.
Source: IRS Form 990 (Tax Year 2024)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2024
Total Revenue
▼$15.5M
Program Spending
71%
of total expenses go to program services
Total Contributions
$13.1M
Total Expenses
▼$8.7M
Total Assets
$63.5M
Total Liabilities
▼$45.2M
Net Assets
$18.4M
Officer Compensation
→$792.5K
Other Salaries
$2.4M
Investment Income
$381.2K
Fundraising
▼$108.8K
Source: USAspending.gov · Searched by organization name
VA/DoD Awards
$3M
VA/DoD Award Count
6
Funding from the Department of Veterans Affairs and/or Department of Defense.
Total Federal Funding
$23.9M
Awards Found
26
Department of the Treasury
$5.9M
PURPOSE: TO PROVIDE GRANTS TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS) FOR THE FOLLOWING PURPOSES 1) TO EXPAND LENDING, GRANT MAKING AND INVESTMENT ACTIVITIES IN LOW OR MODERATE INCOME COMMUNITIES AND TO BORROWERS THAT HAVE HISTORICALLY EXPERIENCED SIGNIFICANT UNMET CAPITAL AND FINANCIAL SERVICES NEEDS AND WERE DISPROPORTIONATELY IMPACTED BY THE COVID 19 PANDEMIC; AND 2) TO ENABLE CDFIS TO BUILD ORGANIZATIONAL CAPACITY AND ACQUIRE TECHNOLOGY, STAFF, AND OTHER TOOLS NECESSARY TO ACCOMPLISH THE ACTIVITIES UNDER A CDFI ERP AWARD. PLANNED ACTIVITIES: ELIGIBLE ACTIVITIES INCLUDE FINANCIAL PRODUCTS, FINANCIAL SERVICES, DEVELOPMENT SERVICES, GRANTS, LOAN LOSS RESERVES AND CAPITAL RESERVES THAT MAY BE USED TO MITIGATE THE IMPACT OF THE COVID 19 PANDEMIC ON UNEMPLOYMENT, CHILDCARE, HEALTHCARE, MENTAL HEALTHCARE, AFFORDABLE HOUSING, AFFORDABLE HOUSING FINANCE, SMALL BUSINESS, SMALL FARMS, BROADBAND INTERNET, AND FOOD SUFFICIENCY. IN ADDITION, TO SUPPORT CDFIS IN BUILDING THEIR CAPACITY TO RESPOND TO THE ECONOMIC IMPACT OF COVID 19, CDFI ERP AWARDS MAY BE USED FOR COMPENSATION PERSONAL SERVICES; COMPENSATION FRINGE BENEFITS; PROFESSIONAL SERVICE COSTS; TRAVEL COSTS; TRAINING AND EDUCATION COSTS; EQUIPMENT; SUPPLIES. END GOALS: EXPANDED FINANCING FOR LOW TO MODERATE INCOME COMMUNITIES AND INDIVIDUALS THAT HAVE HISTORICALLY EXPERIENCED SIGNIFICANT UNMET CAPITAL AND FINANCIAL SERVICES NEEDS AND WERE DISPROPORTIONATELY IMPACTED BY THE COVID 19 PANDEMIC INCLUDING SPECIFIC DESIGNATED COVID IMPACTED CDFI ERP ELIGIBLE GEOGRAPHIES AS AREAS THAT MAY BENEFIT FROM CDFI ERP ASSISTANCE. BENEFICIARIES: CERTIFIED CDFIS WHICH MAY BE FOR PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, AND OTHER PRIVATE INSTITUTION/ORGANIZATION, AS DEFINED IN 12 C.F.R. 1805, AND LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES. 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: NOT APPLICABLE.
Department of Commerce
$1.8M
MBDA FEDERAL PROCUREMENT CENTER PILOT PROGRAM
Department of Commerce
$1.1M
MBDA BUSINESS CENTER - MINNEAPOLIS, MINNESOTA
Department of Defense
$533.6K
PROCUREMENT TECHNICAL ASSISTANCE PROGRAM
Department of Defense
$521.5K
PROCUREMENT TECHNICAL ASSISTANCE PROGRAM
Department of Defense
$515.4K
PROCUREMENT TECHNICAL ASSISTANCE PROGRAM
Department of Defense
$511.4K
PROCUREMENT TECHNICAL ASSISTANCE PROGRAM
Department of Defense
$483.5K
PROCUREMENT TECHNICAL ASSISTANCE PROGRAM
Department of Commerce
$459.5K
THE MINORITY BUSINESS DEVELOPMENT AGENCY WILL USE THE CORONAVIRUS RESPONSE AND RELIEF FUNDING TO SERVE AND PROVIDE A MORE COMPREHENSIVE RELIEF TO MINORITY BUSINESS ENTERPRISES TO PREVENT, PREPARE FOR, AND RESPOND TO EFFECTS OF COVID-19. SUCH ASSISTANCE WILL INCLUDE TECHNICAL ASSISTANCE, TRAINING, EDUCATION, AND ADVISORY SERVICES TO MINORITY BUSINESS ENTERPRISES. THE PERFORMANCE GOALS AND METRICS INCLUDE: NUMBER OF MINORITY BUSINESS ENTERPRISES AFFECTED BY COVID-19 THAT ARE ASSISTED BY THE BUSINESS CENTER; NUMBER OF MINORITY BUSINESS ENTERPRISES INFORMED AND/OR REFERRED BY THE BUSINESS CENTER TO COVID-RELATED LOCAL, STATE, AND FEDERAL GOVERNMENT ASSISTANCE PROGRAMS; NUMBER OF MBE APPLICATIONS SUBMITTED TO LOCAL, STATE, AND FEDERAL GOVERNMENT ASSISTANCE PROGRAMS AS A RESULT OF BUSINESS CENTER ASSISTANCE; NUMBER OF AWARDS ISSUED BY LOCAL, STATE, AND FEDERAL PROGRAMS TO MINORITY BUSINESS ENTERPRISES ASSISTED BY THE BUSINESS CENTER; AND NUMBER AND TYPE (SMALL, MEDIUM, LARGE, ) OF MINORITY BUSINESS ENTERPRISES AFFECTED BY COVID-19, IN ECONOMICALLY DISTRESSED AREAS, ASSISTED BY THE BUSINESS CENTER.
Department of Defense
$421.2K
PROCUREMENT TECHNICAL ASSISTANCE PROGRAM
Small Business Administration
$149.7K
PROGRAM FOR INVESTMENT IN MICROENTREPRENEURS ACT OF 1999
Small Business Administration
$96.1K
FEDERAL AND STATE TECHNOLOGY (FAST) PARTNERSHIP PROGRAM
Small Business Administration
$86.3K
FEDERAL AND STATE TECHNOLOGY (FAST) PARTNERSHIP PROGRAM AWARD
Source: Federal Audit Clearinghouse (fac.gov)
Total Audits
9
Clean Audits
5
Material Weakness
Yes
Noncompliance Issues
No
| Year | Status | Financial Report | Federal Expenditure | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2025 | Minor Findings | Unmodified (Clean) | $2.4M | Yes | 2026-07-14 |
| 2024 | Minor Findings | Unmodified (Clean) | $2.4M | No | 2025-06-23 |
| 2022 | Minor Findings | Unmodified (Clean) | $2.4M | Yes | 2023-06-27 |
| 2021 | Clean | Unmodified (Clean) | $2.3M | Yes | 2022-06-26 |
| 2020 | Clean | Unmodified (Clean) | $2.4M | No | 2021-06-23 |
| 2019 | Clean | Unmodified (Clean) | $1.9M | No | 2020-09-14 |
| 2018 | Material Weakness | Unmodified (Clean) | $1.9M | Yes | 2019-06-20 |
| 2017 | Clean | Unmodified (Clean) | $3M | Yes | 2018-06-20 |
| 2016 | Clean | Unmodified (Clean) | $2.2M | Yes | 2017-06-18 |
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.4M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.4M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.4M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.3M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.4M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.9M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.9M
Financial Report
Unmodified (Clean)
Federal Expenditure
$3M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.2M
Tax Year 2024 · Source: IRS e-Filed Form 990
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 | $15.5M | $13.1M | $8.7M | $63.5M | $18.4M |
| 2023 | $9.3M | $7.6M | $8.1M | $43M | $11.6M |
| 2022 | $6.6M | $5.2M | $9.5M | $38.7M | $10.4M |
| 2021 | $12.1M | $10M | $7.9M |
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 |
|---|
| Dorothy Bridges | President & CEO | 40 | $378K | $0 | $26K | $403.9K |
| Mesude Cingilli | Cfo/vp Of Finance & It | 40 | $135.6K | $0 | $0 | $135.6K |
| Hoyt Hsiao | Chair | 5 | $0 | $0 | $0 | $0 |
| John Stout | Secretary | 5 | $0 | $0 | $0 | $0 |
| Jeffrey Payne | Treasurer / Vice Chair | 5 | $0 | $0 | $0 | $0 |
Dorothy Bridges
President & CEO
$403.9K
Hrs/Wk
40
Compensation
$378K
Related Orgs
$0
Other
$26K
Mesude Cingilli
Cfo/vp Of Finance & It
$135.6K
Hrs/Wk
40
Compensation
$135.6K
Related Orgs
$0
Other
$0
Hoyt Hsiao
Chair
$0
Hrs/Wk
5
Compensation
$0
Related Orgs
$0
Other
$0
John Stout
Secretary
$0
Hrs/Wk
5
Compensation
$0
Related Orgs
$0
Other
$0
Jeffrey Payne
Treasurer / Vice Chair
$0
Hrs/Wk
5
Compensation
$0
Related Orgs
$0
Other
$0
Highest compensated employees who are not officers or directors.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Adrian Ruddock Vp Of Lending | & Business Consulting Services | 40 | $224.5K | $0 | $28.5K | $253K |
| Pomsok Yu | Director Of Business Consulting | 40 | $127.1K | $0 | $36.5K | $163.6K |
| George Jacobson Program | Manager - Mbda Business Center | 40 | $103.8K | $0 | $20.8K | $124.6K |
| Gregory Donovan | Director Of Operations | 40 | $104.7K | $0 | $156 | $104.9K |
Adrian Ruddock Vp Of Lending
& Business Consulting Services
$253K
Hrs/Wk
40
Compensation
$224.5K
Related Orgs
$0
Other
$28.5K
Pomsok Yu
Director Of Business Consulting
$163.6K
Hrs/Wk
40
Compensation
$127.1K
Related Orgs
$0
Other
$36.5K
George Jacobson Program
Manager - Mbda Business Center
$124.6K
Hrs/Wk
40
Compensation
$103.8K
Related Orgs
$0
Other
$20.8K
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Al Mendoza | Director | 1 | $0 | $0 | $0 | $0 |
| Al Perera | Director | 1 | $0 | $0 | $0 | $0 |
| Andrea Burns | Director (jan-jun) | 1 | $0 | $0 | $0 | $0 |
| Andrea Novak | Director | 1 | $0 | $0 | $0 | $0 |
| Bukata Hayes | Director | 1 | $0 | $0 | $0 | $0 |
| Chris Pham | Director | 1 |
Al Mendoza
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Al Perera
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Andrea Burns
Director (jan-jun)
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
| $45.1M |
| $13.3M |
| 2020 | $7.6M | $5.6M | $6M | $39.5M | $9.2M |
| 2019 | $5.9M | $4.5M | $6.7M | $27M | $7.6M |
| 2018 | $7.4M | $6.2M | $6.3M | $24.6M | $8.5M |
| 2017 | $6M | $5.3M | $5.8M | $16.4M | $7.4M |
| 2016 | $7.2M | $6.6M | $4M | $15.4M | $7.3M |
| 2015 | $3.9M | $3.1M | $3.6M | $11.4M | $4.1M |
| 2014 | $4M | $2.4M | $3.2M | $9.6M | $3.8M |
| 2013 | $3.2M | $2.1M | $3.1M | $6.5M | $3.1M |
| 2012 | $3.2M | $1.9M | $2.8M | $4.7M | $3M |
| 2011 | $2.4M | $1.4M | $2.2M | $4M | $2.6M |
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 |
| 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 | — |
| 2003 | 990 | — |
| 2002 | 990 | — |
| 2001 | 990 | — |
Gregory Donovan
Director Of Operations
$104.9K
Hrs/Wk
40
Compensation
$104.7K
Related Orgs
$0
Other
$156
| $0 |
| $0 |
| $0 |
| $0 |
| D'Angelos Svenkeson | Director | 1 | $0 | $0 | $0 | $0 |
| Darren Moquist | Director | 1 | $0 | $0 | $0 | $0 |
| David Rudolph | Director | 1 | $0 | $0 | $0 | $0 |
| Jacob Rider | Director | 1 | $0 | $0 | $0 | $0 |
| Jashan Eison | Director | 1 | $0 | $0 | $0 | $0 |
| Joel Lebewitz | Director | 1 | $0 | $0 | $0 | $0 |
| John Taylor | Director (jan-jun) | 1 | $0 | $0 | $0 | $0 |
| Joseph Wallace | Director | 1 | $0 | $0 | $0 | $0 |
| Kenya Mcknight-Ahad | Director | 1 | $0 | $0 | $0 | $0 |
| Kevin Besikof | Director | 1 | $0 | $0 | $0 | $0 |
| Laura Helmueller | Director | 1 | $0 | $0 | $0 | $0 |
| Mary Muldowney | Director | 1 | $0 | $0 | $0 | $0 |
| Matt Thompson | Director | 1 | $0 | $0 | $0 | $0 |
| Matthew Lyons | Director (jan-jun) | 1 | $0 | $0 | $0 | $0 |
| Michael Roberts | Director | 1 | $0 | $0 | $0 | $0 |
| Molly Dorgan | Director | 1 | $0 | $0 | $0 | $0 |
| Natalie Mcgrady | Director | 1 | $0 | $0 | $0 | $0 |
| Priya Narula | Director | 1 | $0 | $0 | $0 | $0 |
| Robert Doty | Director | 1 | $0 | $0 | $0 | $0 |
| Shaun Coard | Director | 1 | $0 | $0 | $0 | $0 |
| Shawn Calabrase | Director | 1 | $0 | $0 | $0 | $0 |
| Stefan Michno | Director | 1 | $0 | $0 | $0 | $0 |
| Steven Singer | Director | 1 | $0 | $0 | $0 | $0 |
| Suzanne Murphy | Director (jan-jun) | 1 | $0 | $0 | $0 | $0 |
Andrea Novak
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Bukata Hayes
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Chris Pham
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
D'Angelos Svenkeson
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Darren Moquist
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
David Rudolph
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Jacob Rider
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Jashan Eison
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Joel Lebewitz
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
John Taylor
Director (jan-jun)
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Joseph Wallace
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Kenya Mcknight-Ahad
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Kevin Besikof
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Laura Helmueller
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Mary Muldowney
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Matt Thompson
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Matthew Lyons
Director (jan-jun)
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Michael Roberts
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Molly Dorgan
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Natalie Mcgrady
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Priya Narula
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Robert Doty
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Shaun Coard
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Shawn Calabrase
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Stefan Michno
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Steven Singer
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Suzanne Murphy
Director (jan-jun)
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0