2024-06-07T14:22:02-05:00 2022-12-31 411534805 CARPENTER EVERT & ASSOCIATES LTD 7760 FRANCE AVE S SUITE 940 BLOOMINGTON MN 55435 990 2022-01-01 815486146 ASSOCIATION FOR BLACK ECONOMIC POWER ASSO 6125887821 227 COLFAX AVENUE NORTH 30 MINNEAPOLIS MN 55405 DR JUNEAU ROBBINS CHAIR 6125887821 2024-06-07 1 DR JUNEAU ROBBINS 999009999 0 MARC COLIN P00560855 9528310085 2024-06-07 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z X DEBRA L HURSTON 227 COLFAX AVENUE NORTH 30 MINNEAPOLIS MN 55405 500502 0 X WWW.ABEPMPLS.ORG X 2017 MN SEE SCHEDULE O.CREATE PREVENTION AND INTERVENTION MODELS TO ADDRESS WEALTH EXTRACTION THROUGH SYSTEMS CHANGE AND THE DEVELOPMENT OF PRODUCTS AND SERVICES THAT PROVIDE GENERATIONAL WEALTH BUILDING OPPORTUNITIES AND ACCESS TO CAPITAL WHILE PROVIDING AN ALTERNATIVE TO TRADITIONAL PREDATORY, CULTURALLY INCOMPETENT AND INEQUITABLE PRACTICES. 4 4 4 6 0 0 267432 500218 0 0 120 284 0 0 267552 500502 261249 0 0 0 135759 157229 0 0 30701 110439 258893 507447 416122 -239895 84380 756167 856015 24558 40026 731609 815989 X SEE SCHEDULE O.SEE FORM 990, PART I, LINE 1. 0 0 341075 ABEP CONTINUED TO FOCUS ON A KEY INITIATIVE OF ITS MISSION OF ESTABLISHING MINNESOTA'S FIRST BLACK-LED COMMUNITY CREDIT UNION. IN DOING SO, STAFF SIGNIFICANTLY INCREASED OUTREACH IN THE COMMUNITY TO CAPTURE THE REGULATORY REQUIRED NUMBER OF COMMUNITY PLEDGES NEEDED. IN ADDITION TO MEETING WITH COMMUNITY MEMBERS AND CREDIT UNION STAKEHOLDERS, STAFF BEGAN MEETING WITH THE REGULATOR BODIES AT THE STATE AND NATIONAL LEVELS ON A REGULAR BASIS. 341075 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 5 0 1 4 1 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 0 0 0 0 MN X THE ORGANIZATION 6125887821 227 COLFAX AVENUE NORTH 30 MINNEAPOLIS MN 55405 DEBRA HURSTON EXECUTIVE DIRECTOR 40.00 X 99999 0 0 VALERIE GEAITHER CHAIR 2.00 X X 0 0 0 GROVER JONES TREASURER 2.00 X X 0 0 0 SIMONE HARDEMAN-JONES SECRETARY 2.00 X X 0 0 0 GRACIE GEORGE DIRECTOR 2.00 X 0 0 0 IBRAHIM OWOLABI DIRECTOR 2.00 X 0 0 0 CHAZ SANDIFER DIRECTOR 2.00 X 0 0 0 99999 0 0 0 0 0 0 0 500218 500218 284 284 500502 0 0 284 X 139763 109015 18169 12579 7040 5492 915 633 10426 8133 1355 938 104777 81726 13621 9430 9453 7373 1229 851 8951 6981 1164 806 23887 18632 3105 2150 8042 6272 1046 724 2273 1773 296 204 3283 2560 427 296 3505 2734 456 315 1896 1479 246 171 GRANT WRITE-OFF 75000 75000 GRANTS AND AWARDS 17826 13905 2317 1604 416122 341075 44346 30701 630164 807477 75000 0 2947 3987 38431 21297 19369 17134 28687 27417 756167 856015 24558 40026 24558 40026 X 604365 722767 127244 93222 731609 815989 756167 856015 84380 0 X 0 0 0 X 472264 969776 791545 267432 500218 3001235 472264 969776 791545 267432 500218 3001235 0 0 0 3001235 56 125 46 120 284 631 56 125 46 120 284 631 15057 1136 16193 472320 984958 792727 267552 500502 3018059 0.99440 0.99400 0.00020 0.00020 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12787 12787 25644 21297 4347 17134 X PART X, LINE 2: ABEP'S POLICY IS TO EVALUATE UNCERTAIN TAX POSITIONS, AT LEAST ANNUALLY, FOR THE POTENTIAL FOR INCOME TAX EXPOSURE FROM UNRELATED BUSINESS INCOME OR FROM LOSS OF NONPROFIT STATUS. ABEP CONTINUES TO OPERATE CONSISTENT WITH ITS ORIGINAL EXEMPTION APPLICATION AND EACH YEAR TAKES THE NECESSARY ACTIONS TO MAINTAIN ITS EXEMPT STATUS. IT HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER THE INTERNAL REVENUE CODE AND CHARITABLE CONTRIBUTIONS BY DONORS ARE TAX DEDUCTIBLE. IN COMPLIANCE WITH ITS EXEMPT STATUS, ABEP ANNUALLY FILES A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) AND, IF REQUIRED, AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T). X X 1 MISSION360 2901 40TH AVENUE SOUTH MINNEAPOLIS MN 55406 GRANTWRITING 0 0 33702 -33702 33702 -33702 FORM 990, ITEM B THE FORM 990 WAS AMENDED AS A RESULT OF A REVIEW OF THE FUNCTIONAL ALLOCATIONS OF EXPENSES. THE FOLLOWING WAS AMENDED: PART IX: TOTAL PROGRAM EXPENSES INCREASED $166,743 TOTAL MANAGEMENT AND GENERAL DECREASED $160,229 TOTAL FUNDRAISING DECREASED $6,514 FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD REVIEWS THE DRAFT FORM 990 AND APPROVES SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST AND DISCLOSURE STATEMENTS ARE RENEWED IN WRITING ANNUALLY BY THE BOARD AND STAFF. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G CONTRACT FEES: PROGRAM SERVICE EXPENSES 81,726. MANAGEMENT AND GENERAL EXPENSES 13,621. FUNDRAISING EXPENSES 9,430. TOTAL EXPENSES 104,777.