Organizations Filed Purposes:
Helping minority entrepreneurs succeed.
Meda achieves its mission through three main accelerator services focused on Money (access to capital), Markets (access to contracts), and Management Education (access to trusted business advising). Through these services, over 20,000 minority businesses have been able to grow and thrive and tens of thousands of jobs have been created across Minnesota. Markets (Access to contracts): In 2019, Meda connected BIPOC-owned businesses with $4 billion in government and corporate contracts. Meda has been recognized by the U.S. Department of Commerce as the top performing minority business development center in the nation for the past four consecutive years (2016 - 2019). Building on the success of Meda's minority business development center, Meda developed and launched Ascend Twin Cities, a partnership of Meda, JP Morgan Chase and the University of Minnesota Carlson School of Business designed to leverage private anchor spending to grow Twin City and Minnesota BIPOC-owned businesses. Management Education (Access to technical assistance and training): In 2019, Meda provided 9,000 hours of technical assistance to 714 clients. Meda has completed 16 mergers and acquisitions in the last two years.In partnership with Interise and leveraging their Streetwise MBA curriculum, Meda offers the Meda Mini MBA, a semi-annual cohort learning opportunity that gives owners of emerging minority businesses the skills necessary to manage and nurture a growing business. Additionally, the program provides a connection to a supportive business network and access to capital. Nationally, 70% of participants report an increase in annual revenues with an average increase of 48%. 80% of alumni business report being profitable, while the average number of employees increased by 29%.
Money (Access to capital): Meda operates a $24 million loan fund, with a portfolio that consists of 188 loans to BIPOC-owned businesses in both the Twin Cities and Greater Minnesota. This financing supports 1,986 jobs with an average wage of $21.42 per hour or $44,500 annually.In 2019, 101 loans were originated/renewed providing $11,899,968 in growth capital to minority businesses.Meda is the sponsoring organization of the Black Vision Fund, a nationwide consortium partnership of seven Community Development Financial Institutions (CDFI) committed to increasing capital for Black-owned business. The Black Vision Fund seeks to create a $80 million capital pool to support increased Black business lending by the participating CDFI lenders.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Gary L Cunningham | President/CEO (Jan-June) | 40 | $286,358 |
| Daniel Holmquist | Vice President - Finance | 40 | $148,695 |
| Joanna Barrett Vp - Business | Solutions (Jan-Aug) | 40 | $144,231 |
| Patrick Pariseaudirector | of Financing Solutions | 40 | $124,053 |
| Andrew O'Leary | Chief Development Officer | 40 | $114,272 |
| Susan Gall | Chief of Operations | 40 | $112,201 |
| Uri Camerena-Michaeldirector | of Consulting/Business Solutions | 40 | $106,460 |
| Alfredo V Martel | President/CEO (Nov-Dec) | 40 | $25,090 |
| Carlton Weatherby | Director (Jan-June) | 4 | $0 |
| Ravi Norman | Director (Jan-June) | 4 | $0 |
| Peter Glass | Director (Jan-Mar) | 4 | $0 |
| David Rudolph | Director (Sep-Dec) | 4 | $0 |
| Joel Lebewitz | Director | 4 | $0 |
| Binh Tran | Director | 4 | $0 |
| Megan Selby | Director | 4 | $0 |
| Shawn Quant | Director | 4 | $0 |
| Brad Pomerleau | Director | 4 | $0 |
| Jeffrey Payne | Director | 4 | $0 |
| Sara Idle | Director | 4 | $0 |
| Camille Helou | Director | 4 | $0 |
| Gloria Freeman | Director | 4 | $0 |
| Marrha Currea | Director | 4 | $0 |
| Kevin Besikof | Director | 4 | $0 |
| Rich Tofte | Director | 4 | $0 |
| Vicki Stute | Director | 4 | $0 |
| Steven Singer | Director | 4 | $0 |
| Gene Sieve | Director | 4 | $0 |
| Andrea Novak | Director | 4 | $0 |
| Darren Moquist | Director | 4 | $0 |
| Al Mendoza | Director | 4 | $0 |
| Laura Helmueller | Director | 4 | $0 |
| Mimi Bekele | Director | 4 | $0 |
| Jashan Eison | Director | 4 | $0 |
| Hoyt Hsiao | Treasurer | 4 | $0 |
| John Stout | Secretary | 4 | $0 |
| Nancy Brooks | Vice Chair | 4 | $0 |
| Maria Reitan | Vice Chair | 4 | $0 |
| Matthew Lyons | Vice Chair | 4 | $0 |
| Craig Veurink | Vice Chair | 4 | $0 |
| Barbara Butts Williams | Chair | 4 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202002939349300650_public.xml