Metropolitan Economic Development
The Metropolitan Economic Development Association (MEDA) is a 501(c)(3) nonprofit organization headquartered in Minneapolis, Minnesota. Founded in 1971, MEDA operates as a Community Development Financial Institution (CDFI) and business consulting firm dedicated to supporting underserved entrepreneurs. The organization provides integrated, wrap-around services to small business owners who lack access to traditional commercial banking and business support services, with a particular focus on entrepreneurs from communities of color across Minnesota.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$63.5M
+47.8% YoY
Annual Giving
$1.1M
+221.7% YoY
Grant Count
3
-90.6% YoY
Avg Grant Size
$371K
+3331.9% YoY
Mission & Focus Areas
Mission: Helping BIPOC Entrepreneurs Succeed. MEDA believes that successful BIPOC entrepreneurship creates wealth in communities of color, which is a primary strategy to build a more just and fair economy.
Core Service Areas (The "3 C's"):
- Access to Consulting: Customized business consulting and management education
- Access to Connections: Connections to peers, partners, and contract opportunities through programs like Ascend Twin Cities
- Access to Capital: Term debt loans, lines of credit, and equity in the form of convertible notes
Additional Services:
- Business plan development
- Financial planning and analysis
- Marketing assistance
- Minority business certification
- Bonding applications
- Mentorship and volunteer matching programs
- Legal assistance through volunteer attorney networks
Grantmaking
MEDA operates a $65 million CDFI with active lending operations. In 2024, MEDA deployed $6 million in new loans across disadvantaged geographies throughout Minnesota. Historical lending activity includes:
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Geographic Focus
Where this funder awards grants
MEDA serves entrepreneurs throughout Minnesota, with primary focus on the eleven-county Twin Cities metropolitan area. The organization specifically targets disadvantaged geographies and low-income neighborhoods across the state.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
2024 Financial Summary:
- Total Revenue: $15.5 million
- Total Expenses: $8.7 million
- Total Assets: $63.5 million
- Total Liabilities: $45.2 million
Staffing: 45 employees (as of 2024)
Audit Findings: An independent audit for fiscal year ending December 2024 identified a significant deficiency in internal controls related to the organization's ability to track and report financial data reliably. This deficiency is less severe than a material weakness but warrants management attention.
Organizational Rating: MEDA received an 85% score and Three-Star rating based on Accountability & Finance metrics.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $63,533,261 | $42,978,022 | $38,713,139 |
| Revenue | $15,505,868 | $9,291,098 | $6,566,738 |
| Expenses | $8,723,218 | $8,074,691 | $9,518,584 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $381,192 | $5,153 | $270 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2024
Grant Size Distribution
86 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
CEO & President: Dorothy Bridges
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Hoyt Hsiao | Chair | 5 | — |
| John Stout | Secretary | 5 | — |
| Jeffrey Payne | Treasurer / Vice Chair | 5 | — |
| Al Mendoza | Director | 1 | — |
| Al Perera | Director | 1 | — |
| Andrea Burns | Director (Jan-Jun) | 1 | — |
| Andrea Novak | Director | 1 | — |
| Bukata Hayes | Director | 1 | — |
| Chris Pham | Director | 1 | — |
| D'Angelos Svenkeson | Director | 1 | — |
| Darren Moquist | Director | 1 | — |
| David Rudolph | Director | 1 | — |
| Jacob Rider | Director | 1 | — |
| Jashan Eison | Director | 1 | — |
| Joel Lebewitz | Director | 1 | — |
| John Taylor | Director (Jan-Jun) | 1 | — |
| Joseph Wallace | Director | 1 | — |
| Kenya McKnight-Ahad | Director | 1 | — |
| Kevin Besikof | Director | 1 | — |
| Laura Helmueller | Director | 1 | — |
| Mary Muldowney | Director | 1 | — |
| Matt Thompson | Director | 1 | — |
| Matthew Lyons | Director (Jan-Jun) | 1 | — |
| Michael Roberts | Director | 1 | — |
| Molly Dorgan | Director | 1 | — |
| Natalie McGrady | Director | 1 | — |
| Priya Narula | Director | 1 | — |
| Robert Doty | Director | 1 | — |
| Shaun Coard | Director | 1 | — |
| Shawn Calabrase | Director | 1 | — |
| Stefan Michno | Director | 1 | — |
| Steven Singer | Director | 1 | — |
| Suzanne Murphy | Director (Jan-Jun) | 1 | — |
| Dorothy Bridges | President & CEO | 40 | $377,980 |
| Mesude Cingilli | CFO/VP of Finance & IT | 40 | $135,602 |
| Adrian Ruddock VP of Lending | & Business Consulting Services | 40 | $224,478 |
| Pomsok Yu | Director of Business Consulting | 40 | $127,112 |
| Gregory Donovan | Director of Operations | 40 | $104,728 |
| George Jacobson Program | Manager - MBDA Business Center | 40 | $103,771 |
Recent Activity & Funding
Recent developments and announcements
MEDA has received recent grant funding including:
Grant from ECMC Foundation (July 2024)
Grant from Community Development Financial Institutions Fund (April 2023): $5.9 million
$3.4 Million in Grants to Advance Economic MobilityGrant from Opportunity Finance Network (February 2018): $1.0 million
$3.4 Million in Grants to Advance Economic MobilityThe organization was recognized as a recipient of Minnesota state grants, including awards from the Minnesota Office of Cannabis Management and recognition in economic mobility advancement initiatives.
Office of Cannabis Management announces recipients of ... - MN.govContact Information
Address: 1256 Penn Avenue North, Suite 4800, Minneapolis, MN 55411
Phone: 612-332-6332
Email: info@meda.net
Website: meda.net
Volunteer Contact: van@meda.net
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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