Metropolitan Consortium of Community Developers

What it reported doing in 2024

Member services and advocacystate policy advocacy: during the 2024 Minnesota state legislative session, mccd's legislative agenda focused primarily on economic development policy, while also advocating for sustained investments in affordable housing. Policy priorities were informed by a working group mccd convened in 2023.(continued on schedule o)policy changes were enacted that positively impact cdfis and other mission-based lenders through updates to the emerging entrepreneur loan program (elp), the expanding opportunity growth fund, the community wealth building pilot program, and the small business assistance partnership program:-authorized fee-based lending for elp, the expanding opportunity growth fund, and the community wealth building pilot.-established a 10% interest rate cap for loans made under these programs.-clarified eligibility for tribal economic development entities and cdfis to access these programs.-streamlined underwriting by removing duplicative processes for partner organizations in elp.-updated the small business assistance partnership program to ensure grants are used exclusively for free technical assistance to entrepreneurs.-incorporated automatic partial loan forgiveness for borrowers in good standing (10% for elp; 15% for the community wealth building pilot). -allowed a 15% administrative allowance for grantees of the small business assistance partnership program. -approved a 1% loan closing fee from deed to support administrative costs for elp and the expanding opportunity growth fund.in addition to economic development, mccd continued to lead advocacy efforts around housing, particularly related to housing infrastructure bonds (hibs) and the housing affordability preservation investment program.despite a smaller overall housing budget in 2024, mccd led efforts to secure $50 million in new housing infrastructure bonds, ensuring continued development and preservation of affordable housing. Notably, eligible uses for hibs were expanded to include the development of cooperatively owned affordable housing.mccd strongly supported the $50 million allocation for the housing affordability preservation investment program, which is designed to recapitalize distressed properties, preserve state-funded affordable housing, and help ensure families can remain stably housed.recognizing the importance of civic engagement in policy change, mccd hosted its third annual policy and advocacy training in 2024 at the state capitol in preparation for the 2025 session. The training provided participants with hands-on opportunities to engage with the legislative process, including conversations with policymakers, a behind-the-scenes tour, and practice testifying in a hearing environment.as part of our expanded statewide policy and membership efforts, we also brought our training to greater Minnesota, hosting sessions in bemidji and mankato. These regional trainings aimed to reduce participation barriers for individuals and organizations outside the metro area, especially as remote participation in legislative hearings becomes more widely available.local policy advocacy: rent stabilization - city of minneapolis - following the passage of a minneapolis charter amendment authorizing the city council to consider rent regulation policies, the city initiated a rent stabilization work group to help shape the policy framework. Recognizing mccd's leadership in equitable housing and economic development, the city's community planning and development department named mccd as a key stakeholder in this process.mccd played a critical role in the 25-member work group - which included renters, property owners, developers, and organizational representatives - by elevating the perspectives of nonprofit affordable housing providers. In addition, mccd participated in a dedicated subgroup of our members and partner organizations to ensure that nonprofit affordable housing voices were represented and their concerns integrated into the policy rec

Financial Efficiency

• Mission deployment rate: 67%; rating input score 67
• Program expense ratio: 81.6%; rating input score 82
• Fundraising efficiency: $23.72 raised per $1 spent on fundraising; rating input score 64; 64th percentile among comparable filings

Transparency & Controls

• Consistency checks: 93.8%; rating input score 94; 20th percentile among comparable filings
• Pay-setting controls: 2 of 6 controls in place; rating input score 33
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 18.6%; rating input score 75; 75th percentile among comparable filings
• Total-asset coverage ratio: 3.92; rating input score 79; 79th percentile among comparable filings
• Liabilities to assets ratio: 0.54; rating input score 19; 19th percentile among comparable filings
• Officer compensation ratio: 12.9%; rating input score 23; 23rd percentile among comparable filings

Growth

• Program expense growth: 11.4% per year; rating input score 100; 69th percentile among comparable filings
• Revenue growth: 11.4% per year; rating input score 100; 73rd percentile among comparable filings
• Asset growth: 9.2% per year; rating input score 100; 55th percentile among comparable filings