African Economic Development Solutions
Public records show a registered, tax-exempt organization in good standing.
What it says it does
AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS (AEDS) BUILDS WEALTH WITHIN AFRICAN IMMIGRANT COMMUNITIES IN THE TWIN CITIES THROUGH ECONOMIC DEVELOPMENT ACTIVITIES. WE WORK THROUGHOUT THE TWIN CITIES METROPOLITAN AREA TO CREATE WEALTH, LIFT IMMIGRANT COMMUNITIES OUT OF POVERTY, AND CONTRIBUTE TO AND BENEFIT FROM THE REGION'S VIBRANT ECONOMY.
- Income
- $5.2 million
- Spending
- $2.3 million
- Spent on programs
- 84%
- Reserves
- 7.1 months of spending
- Largest source of income
- government grants, 65%
- Employees
- 13
- Volunteers
- 0
- Highest pay
- $170,188, president & ceo
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Good: 83 out of 100. Higher than 70% of charities in its peer group (education, $1m to $10m).
Reserves
28 of 35Spendable reserves would cover 7.1 months of spending.
Debt
10 of 20It owes 32% of what it owns.
Living within its means
15 of 15Income exceeded spending by 56% of income.
Income trend
15 of 15Income rose 34% on the year before.
Spending floor
15 of 1584% of spending went to programs and raising each dollar of donations cost 3 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 100 out of 100. Higher than 74% of charities in its peer group (education, $1m to $10m).
Independent board
25 of 256 of 6 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, 2024, 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 (1)
- $1.9 million spent. SEE SCHEDULE O.LENDING AND CREDIT BUILDING - AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS (AEDS) BUILD WEALTH WITHIN AFRICAN IMMIGRANT COMMUNITIES IN THE STATE OF MINNESOTA THROUGH ECONOMIC DEVELOPMENT ACTIVITIES. WE WORK THROUGHOUT THE TWIN CITIES METROPOLITAN AREA AND OTHER CITIES IN MINNESOTA TO CREATE WEALTH, LIFT IMMIGRANT COMMUNITIES OUT OF POVERTY BY PROVIDING BUSINESS DEVELOPMENT TRAINING AND SMALL BUSINESS CONSULTING AND HOUSING PROGRAM. IN 2024 AEDS PROVIDED $2.07 MILLION IN LOAN. CREDT BUILDING PROGRAM TARGETS CLIENTS WHO NEED PERSONALIZED ASSISTANCE TO IMPROVE THEIR CREDITWORTHINESS. THIS SERVICE IS DELIVERED THROUGH ONE-ON-ONE, IN-PERSON WEEKLY SESSIONS LASTING APPROXIMATELY 1.5 HOURS EACH. DURING THE REPORTING PERIOD, 73 CLIENTS ENROLLED, AND 61 COMPLETED THE COACHING PROCESS, ACHIEVING A COMPLETION RATE OF 84%. THIS PROGRAM HAS PROVEN PARTICULARLY EFFECTIVE IN HELPING PARTICIPANTS DEVELOP BETTER FINANCIAL HABITS AND IMPROVE THEIR ACCESS TO CAPITAL. THOSE WHO ARE CREDIT INVISIBLE OR NEED ASSISTANCE REBUILDING CREDIT CAN APPLY FOR A CREDIT BUILDER LOAN THAT HELPS THEM REBUILD THEIR CREDIT BASED ON TIMELY MONTHLY PAYMENTS ENTREPRENEURSHIP TRAINING AND BUSINESS PLAN CONSULTING - THESE CLASSES ARE OFFERED THROUGH GROUP SESSIONS CONDUCTED VIA ZOOM OVER A 6-WEEK COHORT TRAINING MODEL. IN 2024, SIX BUSINESS TRAINING COHORTS WERE CONDUCTED, EACH LASTING 2 HOURS, TWICE A WEEK. THIS STRUCTURED TRAINING ALLOWS PARTICIPANTS TO GAIN FOUNDATIONAL KNOWLEDGE IN ENTREPRENEURSHIP, BUSINESS PLANNING, MARKETING, FINANCIAL MANAGEMENT, AND COMPLIANCE. A TOTAL OF 163 CLIENTS WERE ENROLLED, WITH 124 SUCCESSFULLY COMPLETING THE TRAINING, REFLECTING A 76% COMPLETION RATE. THIS HIGH SUCCESS RATE DEMONSTRATES THE PROGRAM'S EFFECTIVENESS IN DELIVERING ACCESSIBLE AND VALUABLE ENTREPRENEURSHIP EDUCATION. THESE CONSULTATIONS ARE PROVIDED THROUGH ONE-ON-ONE, IN-PERSON SESSIONS HELD WEEKLY, WITH EACH SESSION LASTING APPROXIMATELY TWO HOURS. THIS SERVICE OFFERS INDIVIDUALIZED GUIDANCE TO ENTREPRENEURS AS THEY DRAFT, REFINE, AND FINALIZE THEIR BUSINESS PLANS. OUT OF THE 42 CLIENTS ENROLLED, 30 COMPLETED THE CONSULTING PROCESS, RESULTING IN A 71% COMPLETION RATE. THIS SERVICE IS ESSENTIAL FOR CLIENTS SEEKING TAILORED ADVICE TO ENHANCE THE CLARITY, FEASIBILITY, AND SUSTAINABILITY OF THEIR BUSINESS MODELS. UPON COMPLETION OF THEIR BUSINESS PLANS AND THE ACCOMPANYING FINANCIAL PROJECTIONS, CLIENTS PROCEED TO APPLY FOR A BUSINESS LOAN WITH AEDS'S LENDING DEPARTMENT. HOUSING - "PRE-PURCHASE EDUCATION (HOMESTRETCH): THIS IS AN INTENSIVE 8-HOUR EDUCATIONAL WORKSHOP DESIGNED TO PREPARE FIRST-TIME HOMEBUYERS FOR THE COMPLEX HOME-BUYING PROCESS. THE TRAINING COVERS TOPICS SUCH AS CREDIT READINESS, MORTGAGE OPTIONS, HOME INSPECTIONS, INSURANCE, AND FINANCIAL MANAGEMENT. A TOTAL OF 220 CLIENTS WERE ENROLLED, WITH 192 SUCCESSFULLY COMPLETING THE TRAINING, REFLECTING A 87% COMPLETION RATE. THIS HIGH COMPLETION RATE DEMONSTRATES A STRONG COMMITMENT FROM PARTICIPANTS TO ENHANCE THEIR KNOWLEDGE AND READINESS FOR HOMEOWNERSHIP.PRE-PURCHASE ADVISING: THIS SERVICE FOCUSES ON HELPING CLIENTS BECOME MORTGAGE-READY WITHIN A RELATIVELY SHORT TIMEFRAME (LESS THAN 45 DAYS). IT INVOLVES ASSESSING FINANCIAL READINESS, INCLUDING INCOME, CREDIT, DEBT, AND SAVINGS, AND DEVELOPING TAILORED SAVINGS PLANS TO ENHANCE MORTGAGE READINESS. DURING THE REPORTING PERIOD, 52 CLIENTS WERE ENROLLED, WITH 30 COMPLETING THE PROCESS, ACHIEVING A 58% COMPLETION RATE. THE MODERATE COMPLETION RATE SUGGESTS ONGOING CHALLENGES FACED BY CLIENTS IN ACHIEVING IMMEDIATE MORTGAGE READINESS, NECESSITATING ENHANCED SUPPORT AND RESOURCES.FINANCIAL WELLNESS COACHING: THIS SERVICE PROVIDES ONGOING SUPPORT FOCUSED ON CREDIT BUILDING, DEBT MANAGEMENT, SAVINGS IMPROVEMENT, AND OVERALL FINANCIAL CAPABILITY. CLIENTS ENGAGE IN A LONGER-TERM PROCESS TO ESTABLISH FINANCIAL STABILITY AND WORK TOWARDS HOMEOWNERSHIP GOALS. THE SERVICE IS DELIVERED THROUGH WEEKLY, ONE-ON-ONE, IN-PERSON SESSIONS LASTING APPROXIMATELY 1.5 HOURS EACH. DURING THE REPORTING PERIOD,34 CLIENTS WERE ENROLLED, WITH 12 SUCCESSFULLY COMPLETING THE PROCESS, RESULTING IN A 35% COMPLETION RATE. THIS SERVICE EMPHASIZES SUSTAINABILITY AND CONSISTENT PROGRESS OVER TIME, WITH CLIENTS OFTEN REQUIRING MORE IN-DEPTH GUIDANCE."
Source: Form 990 for the year ending December 31, 2024, 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 September 7, 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 September 30, 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 September 10, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since November 2009.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 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 October 7, 2026.
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