Mission Economic Development Agency
- Assets
- $131.9m
- Revenue
- $19.5m
- Investments
- $0.0
- Employees
- 100
- Location
- San Francisco, CA
- Founding
- 04/1976
- Data as of
- 12/2019
- 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 12/2019, Mission Economic Development Agency employed 100 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2019, Mission Economic Development Agency generated $19.5m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 13.4% each year . All expenses for the organization totaled $17.5m during the year ending 12/2019. While expenses have increased by 14.3% per year over the past 5 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 99 individual grants totaling $7,217,577. 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
2019
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 SAN FRANCISCO 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 AFFORDABLE HOUSING. 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 27 AND 22 "SMALL SITES" PROPERTIES AS OF DECEMBER 31, 2019 AND 2018, RESPECTIVELY.
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 | $199,602 |
Jillian Spindle COO | 40 | $152,686 | |
Karoleen Feng Director Of Real Estate | Officer | 40 | $150,708 |
Maria L Arellano-Bravo Director Of Asset Building | 40 | $137,108 | |
Richard Raya Director Of Mpn | 40 | $132,513 | |
Libardo Clavijo CFO | Officer | 40 | $123,473 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Future General Construction Construction | 12/30/19 | $846,863 |
Jones It Computer Support | 12/30/19 | $124,900 |
Amone Corporation Construction | 12/30/19 | $2,686,016 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $139,070 |
| Related organizations | $0 |
| Government grants | $5,132,694 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,425,814 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,697,578 |
| Total Program Service Revenue | $5,900,711 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$85,332 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,512,957 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,859,922 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $530,929 |
| Compensation of current officers, directors, key employees. | $355,988 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,595,519 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $899,745 |
| Payroll taxes | $494,717 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $707,173 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $219,185 |
| Royalties | $0 |
| Occupancy | $1,353,933 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $139,850 |
| Interest | $4,440,081 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $756,671 |
| Insurance | $184,054 |
| All other expenses | $0 |
| Total functional expenses | $17,532,930 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,853,604 |
| Savings and temporary cash investments | $1,058,794 |
| Pledges and grants receivable | $4,890,719 |
| Accounts receivable, net | $3,877,916 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,078,177 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $66,583 |
| Net Land, buildings, and equipment | $101,164,907 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,804,982 |
| Intangible assets | $0 |
| Other assets | $14,112,660 |
| Total assets | $131,908,342 |
| Accounts payable and accrued expenses | $1,996,450 |
| Grants payable | $0 |
| Deferred revenue | $18,410 |
| 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 | $118,376,052 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,998,028 |
| Total liabilities | $124,388,940 |
| Net assets without donor restrictions | -$896,281 |
| 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 | $131,908,342 |
Grants Awarded
Over the last fiscal year, Mission Economic Development Agency has awarded $1,706,534 in support to 26 organizations.
| Grant Recipient | Amount |
|---|---|
San Francisco, CA PURPOSE: MISSION PROMISE NEIGHBORHOOD | $266,000 |
San Francisco, CA PURPOSE: MISSION PROMISE NEIGHBORHOOD | $228,000 |
San Francisco, CA PURPOSE: MISSION PROMISE NEIGHBORHOOD | $175,000 |
San Francisco, CA PURPOSE: MISSION PROMISE NEIGHBORHOOD | $125,000 |
Alameda, CA PURPOSE: MISSION PROMISE NEIGHBORHOOD | $124,000 |
San Francisco, CA PURPOSE: MISSION PROMISE NEIGHBORHOOD | $122,000 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Mission Economic Development Agency has recieved totaling $163,002.
| Awarding Organization | Amount |
|---|---|
Strivetogether Inc Cincinnati, OH PURPOSE: Challenge Fund | $100,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $25,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $25,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $13,002 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
San Diego Convention And Tourist Bureau San Diego, CA | $6,524,942 | $41,202,845 |
San Francisco Travel Association San Francisco, CA | $26,928,167 | $38,112,773 |
Cdc Small Business Finance Corp San Diego, CA | $86,407,439 | $22,451,658 |
Mission Economic Development Agency San Francisco, CA | $131,908,342 | $19,512,957 |
Greater Phoenix Convention & Visitors Bureau Phoenix, AZ | $14,404,047 | $16,637,714 |
Citadel Economic Development Corporation San Bernardino, CA | $4,371,938 | $11,618,779 |
Bridge Economic Development Corporation San Francisco, CA | $18,430,751 | $14,865,992 |
Long Beach Area Convention And Visitors Bureau Inc Long Beach, CA | $4,132,059 | $8,434,441 |
Santa Monica Travel & Tourism Santa Monica, CA | $2,901,011 | $7,996,551 |
Northern California Indian Development Council Inc Eureka, CA | $8,172,872 | $7,128,244 |
Greater Phoenix Economic Council Phoenix, AZ | $5,472,151 | $6,965,030 |
Visit Napa Valley Inc Napa, CA | $7,159,102 | $5,755,831 |