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NDC 2015-Annual-Report FINAL2

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NDC 2015-Annual-Report FINAL2 BUILDING NEIGHBORHOOD ECONOMIES FROM WITHIN. NDC 2014 ANNUAL REPORT NEIGHBORHOOD DEVELOPMENT CENTER OVERVIEW: NDC is a non-profit, community development financial institution that believes residents of low-income, inner city neighborhoods have entrepreneurial talent and energy that represent powerful assets available to help revitalize those communities. NDC provides entrepreneur training, small business lending (and Islamically acceptable financing), business services and real estate incubators that help our clients start and grow vital small businesses – which in turn create jobs, provide needed goods and services, revitalize blighted properties, create community gathering places, and develop community role models…building the economies of their neighborhoods from within. There are more than 500 alumni of NDC’s programs that have active businesses. These businesses have created over 2,285 jobs and return over $46 million annually to the economies of their own inner-city neighborhoods. According to a Wilder Study, 82% of our business owners with employees hire neighborhood residents. In 2014, 95% of our entrepreneurs in training are people of color, 51% are female and 43% are considered extremely low income. As economic disparities continue to increase, NDC has chosen a bottom up approach to building and maintaining communities by supporting small business owners. %* of our businesses occupy a %* of our business owners hire % of our entrepreneurs in training are 60 building that was formally vacant. 82 neighborhood residents 95 people of color and 43% are considered extremely low income OUR EFFECT ON THE COMMUNITY IN 2014 ENTREPRENEUR TRAINING DURING 2014, NDC AND ITS NEIGHBORHOOD PARTNERS OFFERED TO OF 21 257 WHICH 231 ENTREPRENEUR ENROLLED ASPIRING COMPLETED TRAINING CLASSES ENTREPRENEURS THE TRAINING NDC ALSO OFFERED FREE WORKSHOPS THAT WERE ATTENDED BY 278 BUSINESSES. LOANS DURING 2014, NDC APPROVED 63 TOTALING $2.8 MILLION LOANS TO SMALL BUSINESSES IN OUR TARGET NEIGHBORHOODS (UNIVERSITY AVE. ST. PAUL, EAST SIDE-ST. PAUL, LAKE ST.-MINNEAPOLIS, NORTH MINNEAPOLIS) BUSINESS SERVICES (BOOKKEEPING, MARKETING, BRANDING, LEGAL COUNSELING, ETC.) IN 2014, NDC PROVIDED 6,000+ TO 328 HOURS OF TECHNICAL ASSISTANCE BUSINESSES IN HIGH-NEED TARGET NEIGHBORHOODS REAL ESTATE DEVELOPMENT NDC ASSISTED BUSINESSES ARE LOCATED IN AN NDC-OWNED INCUBATOR LOCATION (NDC HAS 7 INCUBATOR LOCATIONS). WHAT MAKES NDC ONE OF A KIND? ASSET-FOCUSED PARTNER DRIVEN NDC starts with the belief that all people have NDC’s commitment to working with community assets and talents and the ability to contribute partners enhances our services and helps us to better to a vibrant community. support our businesses long term. We work with a variety of community, business and ethnic/cultural CULTURALLY COMPETENT organizations to find and support entrepreneurs and NDC has a talented, diverse staff allowing it to business owners, and link their success to the effectively serve and communicate with a broad revitalization of their own neighborhoods. spectrum of clients with competence and sensitivity. Our work is primarily focused on low income, COMPREHENSIVE communities of color. NDC supports entrepreneurs and neighborhoods long term by providing wrap around services throughout PLACE BASED the life cycle of a business. NDC employs a comprehensive approach to neighborhood revitalization that is deliberate about concentrating on entrepreneurs in specific geographic areas, which breathes life into visible properties in the community. FINANCIAL STATEMENTS STATEMENT OF FINANCIAL POSITION (DECEMBER 31, 2014) ASSETS Cash and Cash Equivalents $853,768 Restricted Cash $2,249,178 Contributions receivable $50,000 Other receivables $253,647 Prepaid expenses $47,259 Loan receivables, Net of allowance for loan losses $3,560,516 Rental Properties and Equipment, Net $4,430,670 Property and Equipment, Net $17,310 Financing Fees, Net $23,762 Investment in Other Companies $81,998 Deposit $20,872 TOTAL ASSETS $11,588,980 LIABILITIES AND NET ASSETS LIABILITES Payables and other accruals $1,004,682 Loans Payable $8,888,091 TOTAL LIABILITES $9,892,772 NET ASSETS Unrestricted net assets $646,208 Temporarily restricted net assets $1,050,000 TOTAL NET ASSETS $1,696,208 TOTAL LIABILITES AND NET ASSETS $11,588,980 STATEMENT OF ACTIVITIES (DECEMBER 31, 2014) 30% 1 REVENUE & 50% SUPPORT 2 3 30% 1 Grants and Contributions $972,442 2 Earned Income $998,320 3 Governemnt Revenue $1,308,777 TOTAL REVENUE AND SUPPORT $3,279,539 3% 1 16% 2 % 19 3 EXPENSES 23% 4 % 23 5 % 16 6 1 Microenterpreneur Training $424,674 2 Technical Assistance $624,518 3 Lending $431,665 4 Incubators Program $619,638 5 Management and General $519,688 6 Fund Raising $92,452 TOTAL EXPENSES $2,712,635 FUNDERS FUNDERS Joseph Ring Allianz Life Insurance Company of N. America US Bancorp Foundation Carolyn H Roby The Victor & Christine Anthony Family Foundation University of ST. Thomas Barbara Roy The Bank of America Charitable Foundation, Inc. Valspar Foundation Bonnie Russ Central Corridor Funders Collaborative Wells Fargo Foundation of Minnesota Samir Saikali Deluxe Corporation Foundation Wells Fargo Bank Dean Sanberg The Jaye F. and Betty F. Dyer Foundation Western Bank A. William Sands F.R. Bigelow Foundation Metropolitan Transportation Network, Inc. Greg Sands The Fredrikson & Byron Foundation Robert Sands Hardenbergh Foundation INDIVIDUAL DONORS John Satorius Knight Foundation Jeffrey Alexander Jessica Savran Marbrook Foundation Catherine Allan Mike Scheisman Marquette Financial Companies Frank Altman Jon Schumacher The McKnight Foundation Brian Alton David Scott The Minneapolis Foundation Wade Anderson Vicki Shipley Northwest Area Foundation Felix K Ankel Patrick Sievert Otto Bremer Foundation Wendy Annis Brian D Singer Jay and Rose Phillips Family Foundation Anonymous Freweini Sium The Saint Paul Foundation Dean Bachmeier Michael Smith Securian Foundation Mary Kay Bailey Pat Smith Emil J. and Emily D. Slowinski Fund of The Saint Paul James Baillie Gordon M. & Doloresi I. Sprenger Foundation Terri Banaszewski Joyce L Starks Travelers Foundation Joan Barnes Bill Svrluga Trillium Family Foundation Kate Barr Juliana Tanning Twin Cities Local Initiatives Support Corporation Elizabeth Beck Mihailo Temali U.S. Bancorp Foundation John Bennett Matthew Thompson Valspar Foundation Jeff Benson Maria Totozintle Wells Fargo Foundation - Minnesota Glenn Bergman Ebisso Uka Western Bank Daniel Birru Haiyen Vang Kathy Bjerke Neeson Vang KEY GOVERNMENTAL PARTNERS Emily Blodgett Senssue Vang Joan & Segundo Velasquez City of Minneapolis – Department of Community Jeff Blodgett Lisa Boyd Andrew Vomhof Planning and Economic Development Teshite Wako City of St. Paul – Department of Planning and Economic Lance Brock Ellen Brown Kevin Walsh Development Pamela Wandzel Hennepin County Library Kari Canfield Cynthia Carlson Phil Waugh Rondo Community Outreach Library Ben Webster Small Business Administration Cicely Carr Julie Causey Stephen Wellington St. Paul Port Authority Steve Wellvang State of Minnesota – Department of Employment and Denise Chambers Michael Christenson Anne White Economic Development David Wiese Lending partners Cathy Connett Ingrid Culp Michele Willard African Development Center Treston Wold African Economic Development Solutions Greg and Janice Dames Mike Derus Noya Woodrich American Indian Economic Development Fund Elaine Wyatt City of Minneapolis Michael Dickson City of Saint Paul Dean Dziasek STAFF: Latino Economic Development Center Cristina Edelstein Metropolitan Consortium of Community Developers Paul Engh Jeff Alexander, Director of Real Estate Metropolitan Economic Development Association Steve Erdall Darrell Beauford, Real Estate Accounting Manager Minnesota Black Chamber of Commerce Dwayne Etheridge Daniel Birru, Accountant Women Venture Paul Fate Cicely Carr, Training Administrator Real estate partners Michael Finkelstein Isabel Chanslor, Director of NDC Business Lab Aurora Saint Anthony Neighborhood Development Terri Fleming Sarah Emmel, Loan Fund Administrator Corporation (University & Dale) Dan Flicek Denise Favors, Senior SBA Loan & Business Cooperativa del Mercado Central (Mercado Central) Jamil Ford Development Officer East Side Neighborhood Development Company Barbara Louise Forster Elizabeth (Becky) George, Cultural Events and Property (Swedish Bank) Margo Geffen Manager Episcopal Homes (University & Dale) John Gelderman Harvey Hoffman, Building Operations Manager Greater Frogtown Community Development Corporation Becky George Ben Johnson, Real Estate Project Developer (University & Dale) Steve Gibson Ryan Kidder, Lead Graphic Designer In the Heart of the Beast Theatre (Plaza Verde) Joshua Glenn & Susan E Roe Mike LaFave, Vice President & Chief Operating Officer Latino Economic Development Center (Plaza Verde) Ben Goldfarb Earlsworth Baba Letang, Market Manager Model Cities of Saint Paul (University & Dale) Manuel Gonzalez Mary Kuria, Client Manager & Business Advisor Powderhorn Phillips Cultural Wellness Center (Midtown Kevin Goodno Perla Mayo, Loan Officer & Business Advisor Global Market) Michael Angelo Goze Soon-Young Oh, Communications & Development Project for Pride in Living (Mercado Central) Douglas Gregory Officer Whittier Community Development Corporation Cay Shea Hellervick Phillip Porter, Loan Officer & Business Advisor (Mercado Central) Lindsay Herbert Samir Saikali, Manager of Grants & Data Community Development Financial Institution Fund Rick Heydinger Brian Singer, Director of Lending U.S.Small Business
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