Metropolitan Economic Development Association
Public records show a registered, tax-exempt organization in good standing.
What it says it does
Helping BIPOC (Black, Indigeneous, People of Color)
- Income
- $8.6 million
- Spending
- $9.2 million
- Spent on programs
- 71%
- Reserves
- 22.9 months of spending
- Largest source of income
- government grants, 49%
- Employees
- 37
- Volunteers
- 100
- Highest pay
- $337,249, president & ceo
Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Fair: 59 out of 100.
Reserves
35 of 35Spendable reserves would cover 22.9 months of spending.
Debt
5 of 20It owes 70% of what it owns.
Living within its means
4 of 15Spending exceeded income by 7% of income.
Income trend
0 of 15Income fell 44% on the year before.
Spending floor
15 of 1571% of spending went to programs and raising each dollar of donations cost 30 cents.
Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 100 out of 100.
Independent board
25 of 2522 of 22 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (4)
- $5.5 million spent. MEDA's mission is to Help BIPOC Entrepreneurs Succeed. Our theory of communities of color is a primary strategy to build a more just and fair economy. To fulfil our mission, MEDA provides integrated, wrap-around services in the areas all entrepreneurs need to be successful to grow and scale their businesses through providing the access to the "3C's" -- Access to Consulting, Access to Connections, and Access to Capital. Meda's services and products are available to all low-income entrepreneurs in Minnesota. MEDA serves small business owners who do not have access to traditional commercial banking markets and services.Continued on Schedule OIn 2025, MEDA made a significant impact across Minnesota, deploying $10.5M in new loans across disadvantaged geographies of the state. MEDA served 722 unique businesses in 2025, in industries such as healthcare and social assistance (10.5%), manufacturing (6.2%), Construction (9.4%), retail (8%) and scientific and technical services (13%) as well as accommodation and food services (13.8%). The breadth and variety of these businesses drive economic growth, bringing revenue to our neighborhoods, cities, counties, and state. Moreover, the majority of MEDA-supported client businesses are employer businesses, that together create jobs for more than 1,000+ people.As a certified Community Development Financial Institution (CDFI), MEDA provided commercial real estate loans, lines of credit and other term debt products to fund hiring, inventory, and equipment. In real estate, MEDA supports small businesses to acquire, renovate and occupy commercial spaces in disadvantaged corridors of the Twin Cities. MEDA's Minnesota MBDA Business Center and Ascend Twin Cities connected BIPOC contractors to secure contracts that lead to sustainable growth. Access to Capital: The consulting services we offer are augmented by the $36 million MEDA Loan Fund, which is a CDFI-certified and SBA-licensed fund that we leverage to support our clients' business growth, real estate, and acquisition needs. We help with financial analysis, projections, and loan packaging. We also expand access to capital for our clients through our excellent relationships with community, regional and national banking institutions. Access to Contracts: Our business consultants provide education, training, and guidance on operations to ensure entrepreneurs are contract-ready. We connect businesses with opportunities to access public and private contracts that support business growth. In the current award period, the Minnesota MBDA has added the Ascend Twin Cities Program to its service delivery. This is a partnership initiative between JPMorgan Chase Small Business Forward Initiative, MEDA, and the Holmes Center for Entrepreneurship (Carlson School of Business at the University of Minnesota. Developed by the University of Washington Foster School of Business, we will offer mentorship, education & training, and connections with our Anchor Corporations to identify and secure new business opportunities. Access to Connections: MEDA's staff works ongoing to connect small business entrepreneurs with the networks and connections they need to find the right services. When MEDA is unable to meet the need of an entrepreneur, our staff make referrals to a variety of nonprofit partners, county offices, chambers of commerce, and other supports in the small business ecosystem.
- $398,082 spent. MEDA hosts the regional Minority Business Development Agency. For the fiscal year ended June 30th, 2025, we assisted 145 clients. They reported $45.5 million Gross Revenues, and we helped them to acquire $75.1 million in capital that helped to support 1,138 Jobs (Full and Part time).
- $413,992 spent. Ascend Management Education Programming: The purpose of MEDA's Ascend program is to improve the capabilities of suppliers, provide connections, and to assist suppliers with obtaining the capital needed to support meeting the needs of their contracts. The program meets the critical need to access management education as well as knowledge of corporate suppliers that are essential to scale a supplier's operations.Continued on Schedule OThe core gap that many disadvantaged, low-income suppliers encounter is that management education, contract opportunities, and capital are essential for scaling a business but is not always easily accessible to low-income or otherwise disadvantaged entrepreneurs. The Ascend program bridges the gap by providing the education needed to further develop their capabilities, providing an introduction and opportunity to showcase their business to corporate partners involved in procurement, and contract financing options that would be necessary to scale the business.In 2025, the program supported 14 small businesses through management education, with an additional 46 that maintained access to MEDA services.Across all client types, 65% of Ascend Alumni survey respondents reported an increase in gross revenues over the last 3 years (15% reported staying the same).60% reported an increase in market opportunities over the period (20% reported staying the same).35% reported an increasing number of employees over the period (35% reported staying the same).
- $228,440 spent. MEDA supports earlygrowthstage entrepreneurs through its Volunteer Accelerator Network (VAN), a program designed for entrepreneurs of color who are committed to building sustainable and growing businesses. VAN provides a structured pathway for collaboration, networking, education, and mentorship by connecting participants with seasoned subjectmatter experts and experienced entrepreneurs from within the community. The network now includes 65 mentors who offer strategic guidance, help entrepreneurs develop SMART goals, and deliver topicspecific support. Many mentors also serve as instructors in MEDA's Roadmap to Business Success educational series. In 2025 alone, the program facilitated 110 mentorships, with each engagement being specifically tailored to the unique needs of each business.Mentees receive biweekly mentorship aligned with their business goals, monthly educational sessions designed for earlygrowthstage entrepreneurs, and access to a supportive peer community. VAN also hosts everyothermonth coffee chats to build relationships and strengthen the broader entrepreneurial landscape, along with strategic celebrations and networking events that bring together mentors, mentees, and the wider network. With VAN as a core offering, MEDA delivers robust business consulting, mentorship, and capacitybuilding programming that helps small businesses grow sustainably and successfully.
Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since November 1971.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.