Center For Economic Inclusion
- Assets
- $9.3m
- Revenue
- $9.8m
- Investments
- $0.0
- Employees
- 28
- Location
- Saint Paul, MN
- Founding
- 12/2017
- Data as of
- 12/2021
- EIN
- 82-3563111
Organization Overview
Center For Economic Inclusion is located in Saint Paul, MN. The organization was established in 2017. 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, Center For Economic Inclusion employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Center For Economic Inclusion 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, Center For Economic Inclusion generated $9.8m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 43.7% each year . All expenses for the organization totaled $4.1m during the year ending 12/2021. While expenses have increased by 8.9% per year over the past 4 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CENTER FOR ECONOMIC INCLUSION IS AN ORGANIZATION COMMITTED TO STRENGTHENING THE MINNEAPOLIS - SAINT PAUL REGION'S CIVIC INFRASTRUCTURE AND COLLECTIVE CAPACITY TO DISRUPT SYSTEMS AND INFLUENCE MARKET FORCES TO CATALYZE SHARED PROSPERITY AND ADVANCE AN INCLUSIVE ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RACIAL EQUITY CONSULTING SERVICES FOR EMPLOYERS & GOVERNMENT AGENCIES: WE COLLABORATE WITH EMPLOYERS TO PROVIDE ORGANIZATIONAL CONSULTING SERVICES IN 5 PILLARS OF RACIALLY RESPONSIVE EMPLOYER ACTION (PEOPLE, PROCUREMENT, POLICY, PHILANTHROPY AND PRODUCTS) WHILE MEASURING AND IMPROVING ORGANIZATIONAL EFFECTIVENESS NATIONALLY AND THROUGHOUT THE REGION.
DRIVING SHARED ACCOUNTABILITY FOR DATA INFORMED ACTION: WE ELEVATE DISAGGREGATED DATA LEVERAGING OUR INDICATORS FOR AN INCLUSIVE REGIONAL ECONOMY (TM) TO PRODUCE DASHBOARDS, REPORTS AND PUBLICATIONS ELEVATING REGIONAL TRENDS IN INCLUSIVE ECONOMIC GROWTH AND COMPETITIVENESS, RACIAL EQUITY, AND CORPORATE ACTION. OUR RESEARCHERS, ANALYSTS AND CONSULTANTS OFFER SOLUTIONS TO HELP LEADERS MAKE DATA INFORMED DECISIONS THAT ADDRESS THE ROOTS OF SYSTEMIC RACISM TO CLOSE RACIAL WEALTH GAPS AND STIMULATE INCLUSIVE ECONOMIC GROWTH.
EDUCATION, COACHING AND AWARENESS: WE CURATE EXPERIENTIAL LEARNING EVENTS, TRAININGS, AND WORKSHOPS DESIGNED TO RAISE AWARENESS, FOSTER SHARED ACCOUNTABILITY, DRIVE ACTION, AND BUILD AMBASSADORS FOR ACTION. OUR CAMPAIGNS INFORM, EQUIP AND INSPIRE EMPLOYERS AND POLICYMAKERS, FOR EXAMPLE, TO INVEST IN REGIONAL WORKFORCE DEVELOPMENT TO: * BUILD RACIALLY INCLUSIVE, EQUITABLE AND ENGAGING WORKPLACES * LEVERAGE INCLUSIVE WORKPLACES TO INCREASE PRODUCTIVITY AND MARKET GROWTH * DRIVE PUBLIC POLICY CHANGE THROUGH LOBBYING AND REGIONAL ADVOCACY * FACILITATE CROSS-RACIAL, MULTI-SECTOR PARTNERSHIPS FOR INCREASED AWARENESS, ACTION, AND ACCOUNTABILITY * ELEVATE THE ECONOMIC IMPERATIVE OF CLOSING RACIAL WEALTH GAPS BY INVESTING IN BLACK, INDIGENOUS, LATINX, AND ASIAN INDIVIDUALS, BUSINESSES, AND COMMUNITIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tawanna Black Founder And Chief Executive Officer | Officer | 40 | $292,974 |
Michael Aromolaran VP Of Impact And Shared Accountability | Officer | 40 | $163,336 |
Andrea Ferstan VP Of Systems Innovation | Officer | 40 | $151,785 |
Anthony Tolliver Sr Director Of Workforce Innovation | 40 | $117,481 | |
Ethelind Kaba VP Of External Affairs | 40 | $104,871 | |
Sam Ndely Director Of Employer Inclusivity | 40 | $104,680 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cliftonlarsonallen Llp Accounting Services | 12/30/21 | $177,807 |
Mary Beth Hanson Communications | 12/30/21 | $116,139 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $148,520 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $501,696 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,805,069 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,455,285 |
| Total Program Service Revenue | $309,578 |
| Investment income | $6,980 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,776,985 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $30,013 |
| 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. | $714,141 |
| Compensation of current officers, directors, key employees. | $137,293 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,299,335 |
| Pension plan accruals and contributions | $20,295 |
| Other employee benefits | $170,016 |
| Payroll taxes | $138,479 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $882 |
| Fees for services: Accounting | $193,311 |
| Fees for services: Lobbying | $41,800 |
| Fees for services: Fundraising | $39,270 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $867,896 |
| Advertising and promotion | $25,182 |
| Office expenses | $77,260 |
| Information technology | $111,643 |
| Royalties | $0 |
| Occupancy | $192,119 |
| Travel | $11,673 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $31,231 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $101,363 |
| Insurance | $12,185 |
| All other expenses | $0 |
| Total functional expenses | $4,078,094 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,744,556 |
| Savings and temporary cash investments | $20,003 |
| Pledges and grants receivable | $3,963,563 |
| Accounts receivable, net | $68,673 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $50,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $66,413 |
| Net Land, buildings, and equipment | $367,561 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $35,000 |
| Total assets | $9,315,769 |
| Accounts payable and accrued expenses | $212,126 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $230,784 |
| Total liabilities | $442,910 |
| Net assets without donor restrictions | $1,189,351 |
| Net assets with donor restrictions | $7,683,508 |
| 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 | $9,315,769 |
Grants Recieved
Over the last fiscal year, we have identified 19 grants that Center For Economic Inclusion has recieved totaling $5,700,657.
| Awarding Organization | Amount |
|---|---|
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION | $2,816,901 |
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION | $2,183,099 |
Minneapolis Foundation Minneapolis, MN PURPOSE: DONOR-RECOMMENDED, COMMUNITY & ECONOMIC DEVELOPMENT | $219,614 |
Greater Twin Cities United Way Minneapolis, MN PURPOSE: PROGRAM COSTS | $163,750 |
Bush Foundation St Paul, MN PURPOSE: THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR THE CENTER FOR ECONOMIC INCLUSION TO HELP ADVANCE ITS CHARITABLE MISSION | $100,000 |
Minneapolis Foundation Minneapolis, MN PURPOSE: GENERAL | $50,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southern Minnesota Initiative Foundation Owatonna, MN | $74,043,196 | $20,001,758 |
Vocational Development Center Inc Council Bluffs, IA | $12,984,673 | $16,204,305 |
Southern Iowa Economic Development Association Ottumwa, IA | $4,848,905 | $15,262,424 |
Wisconsin Dells Visitor & Convention Bureau Wisconsin Dells, WI | $26,952,168 | $17,110,395 |
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Metropolitan Economic Development Association Minneapolis, MN | $45,113,584 | $12,064,856 |
Great Plains Institute For Sustainable Development Minneapolis, MN | $9,896,004 | $8,891,636 |
Minneapolis - St Paul Regional Economic Development Partnership Saint Paul, MN | $5,371,081 | $6,502,146 |
Madison Development Corporation Madison, WI | $34,294,523 | $5,181,232 |
Center For Economic Inclusion Saint Paul, MN | $9,315,769 | $9,776,985 |
Greater Madison Convention & Visitor Bureau Inc Madison, WI | $7,711,633 | $4,933,152 |
Nextstage Bloomington, MN | $2,654,997 | $4,431,008 |