Mission Economic Development Agency
- Assets
- $193.6m
- Revenue
- $20.2m
- Investments
- $0.0
- Employees
- 115
- Location
- San Francisco, CA
- Founding
- 04/1976
- Data as of
- 12/2021
- EIN
- 51-0187791
Organization Overview
Mission Economic Development Agency is located in San Francisco, CA. The organization was established in 1976. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Mission Economic Development Agency employed 115 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mission Economic Development Agency is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Mission Economic Development Agency generated $20.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.9% each year. All expenses for the organization totaled $22.9m during the year ending 12/2021. While expenses have increased by 14.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Mission Economic Development Agency has awarded 139 individual grants totaling $9,004,918. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ROOTED IN THE MISSION AND FOCUSED ON SAN FRANCISCO, MEDA'S MISSION IS TO STRENGTHEN LOW- AND MODERATE-INCOME LATINO FAMILIES BY PROMOTING ECONOMIC EQUITY AND SOCIAL JUSTICE THROUGH ASSET BUILDING AND COMMUNITY DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDA IS THE LEAD AGENCY FOR THE MPN PROGRAM, A FEDERAL INITIATIVE TO HELP FAMILIES SUCCEED AND STUDENTS ACHIEVE. MEDA IS COLLABORATING WITH THE SAN FRANCISCO UNIFIED SCHOOL DISTRICT AND A HOST OF VITAL COMMUNITY PARTNERS TO ENSURE THAT EVERY CHILD IN THE MISSION DISTRICT OF SANFRANCISCO IS ON TRACK TO THRIVE, FROM CRADLE TO COLLEGE AND BEYOND.
MEDA'S ASSET BUILDING PROGRAMS INCLUDE WORKSHOPS AND INDIVIDUAL COACHING TO HELP LOW-INCOME AND MODERATE-INCOME CLIENTS ACHIEVE FAMILY ECONOMIC SUCCESS. FREE PROGRAMS INCLUDE: FINANCIAL CAPABILITY, BUSINESS DEVELOPMENT, HOUSING OPPORTUNITIES, FREE TAX PREPARATION, AND WORKFORCE DEVELOPMENT.
THE COMMUNITY REAL ESTATE PROGRAM PRESERVES AND PRODUCES AFFORDABLEHOUSING. SINCE 2015, MEDA HAS PARTNERED WITH OTHER SAN FRANCISCO BASED NON-PROFIT HOUSING DEVELOPERS TO ACQUIRE OR BUILD AFFORDABLE HOUSING APARTMENT BUILDINGS. BEGINNING IN 2016, WITH THE ASSISTANCE OF THE CITY AND COUNTY OF SAN FRANCISCO, MEDA AND SUBSIDIARIES ALSO BEGAN THEIR ACQUISITION AND REHABILITATION OF "SMALL SITES" IN THE MISSION DISTRICT OF SAN FRANCISCO WITH THE OBJECTIVE OF PRESERVING EXISTING AFFORDABLE HOUSING. MEDA AND SUBSIDIARIES HAVE ACQUIRED 33 "SMALL SITES" PROPERTIES AS OF DECEMBER 31, 2021.
MEDA'S COMMUNITY LENDING ARM, THE FONDO ADELANTE, IS A NEW VEHICLE THAT MAKES AFFORDABLE LOANS TO SMALL BUSINESSES WHOSE OWNERS RECEIVE TRAINING AND CONSULTATION FROM MEDA'S BUSINESS DEVELOPMENT PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Luis Granados CEO | Officer | 40 | $272,022 |
Priscilla Chen-Ok CFO | Officer | 40 | $175,164 |
Karoleen Feng Dir. Of Comm. Real Estate | Officer | 40 | $174,479 |
Jillian Spindle COO | Officer | 40 | $171,356 |
Richard Raya Cso | Officer | 40 | $154,489 |
Elaine Yee Deputy Dir. Comm. Real Estate | 40 | $139,893 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Robert Half Finance & Accounting Accounting Services | 12/30/21 | $135,291 |
Zubi Consulting Llc Consulting Services | 12/30/21 | $128,868 |
Accountemps Accounting Services | 12/30/21 | $394,273 |
Lindquist Von Husen & Joyce Llp Accounting Services | 12/30/21 | $102,550 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $116,582 |
| Related organizations | $0 |
| Government grants | $9,567,519 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,922,185 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,606,286 |
| Total Program Service Revenue | $6,507,146 |
| Investment income | $106,156 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$12,626 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,206,962 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $84,919 |
| Grants and other assistance to domestic individuals. | $60,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,077,268 |
| Compensation of current officers, directors, key employees. | $241,369 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,582,368 |
| Pension plan accruals and contributions | $108,318 |
| Other employee benefits | $807,387 |
| Payroll taxes | $581,447 |
| Fees for services: Management | $24,000 |
| Fees for services: Legal | $32,537 |
| Fees for services: Accounting | $102,842 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,200,556 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $332,786 |
| Royalties | $0 |
| Occupancy | $1,639,116 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,121 |
| Interest | $3,231,560 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,487,077 |
| Insurance | $264,461 |
| All other expenses | -$77,930 |
| Total functional expenses | $22,929,222 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,054,792 |
| Savings and temporary cash investments | $1,014,357 |
| Pledges and grants receivable | $4,024,147 |
| Accounts receivable, net | $6,901,124 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $9,337,049 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $318,723 |
| Net Land, buildings, and equipment | $132,147,582 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,451,087 |
| Intangible assets | $940,897 |
| Other assets | $17,366,312 |
| Total assets | $193,556,070 |
| Accounts payable and accrued expenses | $1,370,050 |
| Grants payable | $0 |
| Deferred revenue | $454,446 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $158,215,623 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $21,213,993 |
| Total liabilities | $181,254,112 |
| Net assets without donor restrictions | $3,886,275 |
| Net assets with donor restrictions | $8,415,683 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $193,556,070 |
Grants Awarded
Over the last fiscal year, Mission Economic Development Agency has awarded $1,787,341 in support to 40 organizations.
| Grant Recipient | Amount |
|---|---|
San Francisco, CA PURPOSE: FAMILY RELIEF FUND | $300,000 |
San Francisco, CA PURPOSE: TO SUPPORT PROGRAMS | $254,000 |
San Francisco, CA PURPOSE: TO SUPPORT PROGRAMS | $202,000 |
San Francisco, CA PURPOSE: TO SUPPORT PROGRAMS | $175,000 |
San Francisco, CA PURPOSE: TO SUPPORT PROGRAMS | $127,000 |
San Francisco, CA PURPOSE: TO SUPPORT PROGRAMS | $124,500 |
Grants Recieved
Over the last fiscal year, we have identified 25 grants that Mission Economic Development Agency has recieved totaling $6,573,353.
| Awarding Organization | Amount |
|---|---|
Crankstart Foundation San Francisco, CA PURPOSE: BIG SITES INITIATIVE | $1,000,000 |
Crankstart Foundation San Francisco, CA PURPOSE: MISSION PROMISE NEIGHBORHOOD - PARTNERS' BRIDGE FUNDING | $1,000,000 |
Futures Without Violence San Francisco, CA PURPOSE: TO SUPPORT BAY AREA COMMUNITIES IN REIMAGINING HOW CHILD AND FAMILY SERVING SYSTEMS CAN MORE EFFECTIVELY INTERRUPT AND PREVENT CHILDHOOD TRAUMA WITH COMMUNITY-DRIVEN STRATEGIES THAT ARE ROOTED IN RACIAL EQUITY, HEALING, AND PREVENTION. | $600,000 |
Crankstart Foundation San Francisco, CA PURPOSE: GENERAL SUPPORT | $500,000 |
Crankstart Foundation San Francisco, CA PURPOSE: GENERAL SUPPORT | $500,000 |
Crankstart Foundation San Francisco, CA PURPOSE: BIG SITES INITIATIVE | $500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
San Diego Convention And Tourist Bureau San Diego, CA | $10,248,135 | $28,266,235 |
Cdc Small Business Finance Corp San Diego, CA | $123,395,668 | $31,738,512 |
Mission Economic Development Agency San Francisco, CA | $193,556,070 | $20,206,962 |
San Francisco Travel Association San Francisco, CA | $17,687,275 | $15,738,684 |
Citadel Economic Development Corporation San Bernardino, CA | $7,215,242 | $16,438,545 |
Greater Phoenix Convention & Visitors Bureau Phoenix, AZ | $19,191,750 | $16,242,591 |
Long Beach Area Convention And Visitors Bureau Inc Long Beach, CA | $4,784,571 | $9,189,036 |
San Luis Obispo Visitors & Conference Bureau Incorporated San Luis Obispo, CA | $7,302,521 | $9,818,447 |
Smcu Community Fund Redwood City, CA | $1,513,371 | $6,964,137 |
Maui Economic Development Board Inc Medb Kihei, HI | $10,649,362 | $7,742,311 |
Greater Phoenix Economic Council Phoenix, AZ | $6,926,984 | $7,545,492 |
Santa Monica Travel & Tourism Santa Monica, CA | $2,868,308 | $7,126,411 |