Nonprofit · EIN 20-0553370
AFRICAN DEVELOPMENT CENTER
Tax-exempt · MINNEAPOLIS, MN 55454
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $4,603,972 | $1,839,252 | $2,764,720 | $24,797,186 | $9,795,253 | $15,001,933 |
| December 31, 2023 | 990 | $5,205,910 | $1,688,397 | $3,517,513 | $21,723,388 | $9,486,175 | $12,237,213 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $3,057,277
- of which government grants
- $2,435,568
- Program service revenue
- $1,434,968
- Investment income
- $111,727
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $367,805
- Other salaries and wages
- $452,925
- Salaries, compensation and benefits (total)
- $906,599
- Professional fundraising fees
- $0
- Legal fees
- $46,579
- Accounting fees
- $88,846
- Occupancy
- $211,965
- Travel
- $96,961
- Depreciation
- $5,828
- Program services (functional)
- $1,619,958
- Management and general (functional)
- $169,547
- Fundraising (functional)
- $49,747
Balance sheet and other
- Total assets, start of year
- $21,723,388
- Total assets, end of year
- $24,797,186
- Total liabilities, end of year
- $9,795,253
- Net assets, end of year
- $15,001,933
- Land, buildings and equipment
- $43,081
- Net assets without donor restrictions
- $14,991,933
- Net assets with donor restrictions
- $10,000
- Gross receipts
- $4,603,972
- Employees
- 11
- Volunteers
- 40
- Year formed
- 2002
- State of legal domicile
- MN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| NASIBU SAREVA | CEO Officer | 50 | $201,711 | $28,881 |
| FELICIA RAVELOMANATSOA | CFO Officer | 50 | $123,725 | $13,488 |
| JO ANN VANO | BOARD PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| LEAH MTEGHA | BOARD SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| UBAH ALI JAMA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAIKA ISMAIL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MIKE STINSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KAADE WALLACE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| EDWIN MIGIRO | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BRUCE W NORDIN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAMON JENKINS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SCOTT BROPHY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SEAN WOLD | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 13 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| NASIBU SAREVA | CEO Officer | 50 | $174,811 | $27,461 |
| FELICIA RAVELOMANATSOA | CFO Officer | 50 | $115,040 | $10,555 |
| JO ANN VANO | BOARD PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| LEAH MTEGHA | BOARD SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| UBAH ALI JAMA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAIKA ISMAIL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MIKE STINSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KAADE WALLACE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| EDWIN MIGIRO | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BRUCE W NORDIN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAMON JENKINS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SCOTT BROPHY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SEAN WOLD | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1931 S 5TH ST, MINNEAPOLIS, MN 55454-1257
- In care of
- % HUSSEIN SAMATAR
- Principal officer (990 for 2024)
- NASIBU SAREVA, 1931 5TH STREET SOUTH, MINNEAPOLIS, MN 55454
- Signed the 990
- NASIBU SAREVA, CEO
- Phone
- (612) 333-4772
- Website
- WWW.ADCMINNESOTA.ORG
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
GROW BUSINESSES, BUILD WEALTH AND INCREASE REINVESTEMENT IN THE AFRICAN COMMUNITIES OF MINNESOTA
Program accomplishments
- 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 HAS AN ENTREPRENEURIAL TRAINING CLASS FOR CLIENTS LOOKING TO START A COMPLETELY NEW BUSINESS. ADC MADE 74 LOANS IN 2024 WITH A TOTAL APPROVED LOAN AMOUNT OF $7,439,029 AND THEY LEVERAGED OVER $10 MILLION. FROM OUR 2024 LOANS, 178.5 JOBS HAVE BEEN RETAINED AND 133 NEW JOBS HAVE BEEN CREATED. THE GREAT MAJORITY OF THESE LOANS AND JOBS CREATED AND RETAINED ARE BLACK-OWNED AND OPERATED SMALL BUSINESSES. 96% OF OUR LOAN DOLLARS WENT TO BLACK-OWNED BUSINESSES AND 47% WENT TO WOMEN-OWNED BUSINESSES.Expenses $1,619,958 · revenue $1,434,968
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 20-0553370
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2004
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Human services (P40)
- Assets (IRS master file)
- $24,797,186
- Income (IRS master file)
- $4,603,972
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $4,603,972 | $1,839,252 | $24,797,186 | XML |
| 990 | December 2023 | $5,205,910 | $1,688,397 | $21,723,388 | XML |
| 990 | December 2022 | $4,002,961 | $2,168,783 | $17,752,149 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.
Questions about AFRICAN DEVELOPMENT CENTER
- What is the EIN of AFRICAN DEVELOPMENT CENTER?
- The employer identification number (EIN) of AFRICAN DEVELOPMENT CENTER is 20-0553370.
- Is AFRICAN DEVELOPMENT CENTER tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2004.
- Are donations to AFRICAN DEVELOPMENT CENTER tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does AFRICAN DEVELOPMENT CENTER file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of AFRICAN DEVELOPMENT CENTER due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did AFRICAN DEVELOPMENT CENTER last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of AFRICAN DEVELOPMENT CENTER?
- The 990 for the year ended December 31, 2024 names NASIBU SAREVA.
- Who are the officers and directors of AFRICAN DEVELOPMENT CENTER?
- The 990 for the year ended December 31, 2024 lists 13 people; 2 received compensation from the organization, the highest $201,711 (NASIBU SAREVA, CEO).
- How much revenue does AFRICAN DEVELOPMENT CENTER have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $4,603,972, expenses of $1,839,252 and total assets of $24,797,186 at year end.
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