Metropolitan Economic Development Association

What it reported doing in 2025

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.

Financial Efficiency

• Mission deployment rate: 78.4%; rating input score 78
• Program expense ratio: 71.2%; rating input score 71
• Fundraising efficiency: $3.39 raised per $1 spent on fundraising; rating input score 9; 9th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Pass
  • 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; 75th 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: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -7.1%; rating input score 13; 13th percentile among comparable filings
• Total-asset coverage ratio: 6.44; rating input score 84; 84th percentile among comparable filings
• Liabilities to assets ratio: 0.7; rating input score 10; 10th percentile among comparable filings
• Officer compensation ratio: 15.3%; rating input score 22; 22nd percentile among comparable filings

Growth

• Program expense growth: 8.1% per year; rating input score 100; 53rd percentile among comparable filings
• Revenue growth: 9.9% per year; rating input score 100; 66th percentile among comparable filings
• Asset growth: 15.8% per year; rating input score 100; 76th percentile among comparable filings