Liberian Business Association in the Diaspora

Nonprofit profile at a glance

EIN
813454753
IRS 990 coverage
2021–2021
Forms available
Form 990 2021
Location
Minneapolis, MN, USA
Phone
6126074233
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Professional Societies, Associations

Official website

Reported finances

Revenue
$250,826
Expenses
$252,628
Assets
$5,956
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

5 people listed

People named in this filing

  • DR THOMAS TWEH (Director)
  • MICHAEL RENNIE (Director)
  • REP NAQUETTE RICKS (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To help micro & small minority-owned businesses alleviate financial hardship.

What it reported doing in 2021

This is seed money provided by the City of Brooklyn Park to fund a loan program under the auspices of the Liberian Business Association in the Diaspora to provide short-term loans to help micro and small minority-owned start-up and other businesses that would otherwise not get funded through traditional loan programs.

Operating model

Revenue model
Grant-funded. 92% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 43% for direct work, and 57% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. The filing does not identify recipients for some grant dollars and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 51
  • Accountability: 82
  • Sustainability: 32
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 80%; rating input score 80; 1st percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 0%; rating input score 0; 19th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -0.7%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 0.02; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 70; 70th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 5 board members independent · 4 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $230K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Highest-paid contractors: 5 contractors listed · $62K reported
  • Consistency: 13 of 15 current checks pass · 2 findings to review
  • Schedules: 3 filed schedules · includes grants
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Sustainability: Operating margin scored 29/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.