Overview
What is Metropolitan Economic Development Association?
The Metropolitan Economic Development Association (Meda) is a nonprofit organization dedicated to fostering success among entrepreneurs of color. They firmly believe that flourishing businesses owned by individuals of color can generate wealth within communities of color, serving as a crucial step towards establishing a more equitable and just economy. To achieve this mission, Meda offers a range of services, such as providing resources and support to aid BIPOC entrepreneurs in their journey towards success.
Official website here: www.meda.net
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% (Three-Star out of Four Star Rating)
The Metropolitan Economic Development Association has earned an 87% rating from Charity Navigator, indicating a solid level of accountability and financial transparency. The score is derived entirely from its Accountability & Finance metrics, where it excels in areas such as having a fully independent board and a strong program expense ratio, demonstrating effective financial management and operational integrity.
Strengths of the organization include a highly independent board with 95% of its members being independent, which is crucial for unbiased governance. Additionally, the organization exhibits no material diversion of assets and maintains a commendable program expense ratio of 69.73%, indicating that the majority of its funds are allocated towards its programs rather than administrative costs.
Despite its strengths, the rating reflects a singular focus on accountability and finance, which might not capture other aspects of the organization's impact or effectiveness in its mission. Nonetheless, the financial metrics suggest that the Metropolitan Economic Development Association is well-managed, with a commitment to transparency and responsible use of resources.
This AI summary has been generated from information found on Charity Navigator.
Is Metropolitan Economic Development Association legitimate?
Metropolitan Economic Development Association is a legitimate nonprofit organization registered as a 501(c)(3) entity. Metropolitan Economic Development Association submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $798,164
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,952,521
For more financial information, click here
Official website here: www.meda.net
What is the mission statement of Metropolitan Economic Development Association?
The Metropolitan Economic Development Association's mission focuses on assisting minority entrepreneurs in achieving success. By fulfilling this mission, Meda aims to foster wealth generation within communities of color, which is a significant step towards establishing a more equitable and fair economy. Their services are designed to support BIPOC entrepreneurs in their journey towards success. Meda believes that the success of these entrepreneurs is instrumental in uplifting the overall economic status of communities of color.
Official website here: www.meda.net
Who is the CEO of Metropolitan Economic Development Association?
Dorothy Bridges is the CEO of Metropolitan Economic Development Association The CEO's salary of Metropolitan Economic Development Association is $298,784 and their total compensation is $316,090.
Official website here: www.meda.net
What is the revenue of Metropolitan Economic Development Association?
Metropolitan Economic Development Association's revenue in 2023 was $9,291,098.
Official website here: www.meda.net
Who are the executives of Metropolitan Economic Development Association and what are their salaries?
The average compensation at Metropolitan Economic Development Association during 2023 was $63,969. There are 43 employees and 250 volunteers at Metropolitan Economic Development Association.
Here are 40 key members and their salaries (Metropolitan Economic Development Association's CEO's salary is $298,784 and their total compensation is $316,090):
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Official website here: www.meda.net
Where can I find the form 990 for Metropolitan Economic Development Association?
Metropolitan Economic Development Association's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.meda.net
Learn more at the official website: www.meda.net
Mission Statement of Metropolitan Economic Development Association
The Metropolitan Economic Development Association (Meda) is an organization dedicated to assisting minority entrepreneurs in achieving success. Their mission is rooted in the belief that successful entrepreneurship among individuals of color can contribute significantly to the creation of wealth within communities of color. This strategic approach, according to Meda, is instrumental in fostering a more equitable and fair economic landscape.
To fulfill this mission, Meda offers a range of services designed to support BIPOC entrepreneurs. Meda's activities are centered around helping these entrepreneurs succeed, recognizing the vital role that their achievements play in promoting social and economic justice. By providing these services, Meda aims to empower minority entrepreneurs, enabling them to make meaningful contributions to their communities and the broader economy.
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Impact
July, 2024
Metropolitan Economic Development Association's impact is centered on helping minority entrepreneurs succeed. By focusing on supporting BIPOC entrepreneurs, they aim to create wealth in communities of color, believing that successful entrepreneurship in these communities is crucial for building a more just and fair economy. Through their services and mission, MEDA is actively working to empower BIPOC entrepreneurs and contribute to community improvement.
This information is meant to be a general summary of Metropolitan Economic Development Association. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $5,153
- Program Service Revenue: $1,892,072
- Gross Receipts: $9,598,712
Assets and Liabilities:
- Total Assets: $38,713,139
- Total Liabilities: $28,348,723
- Net Assets: $10,364,416
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Interest From PRI
Revenue
$1,811,113
Client Service Revenue
Revenue
$62,674
Organization Details
Founding Year
1971
Principal Officer
Dorothy Bridges
Website
www.meda.netNTEE Category
Code: S43 - Community improvement
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