Minnesota · Nonprofit
AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS
AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS (Minnesota) receives grants from 36 organizations whose IRS filings report $8,897,406 to it, the largest being SAINT PAUL & MINNESOTA FOUNDATION ($1,338,510). 23 of them have funded it in more than one year.
- Revenue FY2024
- $5.2M
- Funders on record
- 36
- Grants received
- $8.9M
- Net assets
- $9.3M
What African Economic Development Solutions does
Mission
African Economic Development Solutions (aeds) builds wealth within african immigrant communities in the twin cities through economic development activities. We work throughout the twin cities metropolitan area to create wealth, lift immigrant communities out of poverty, and contribute to and benefit from the region's vibrant economy.
As stated on its FY2024 Form 990.
Program
See schedule o.lending and credit building - African Economic Development Solutions (aeds) build wealth within african immigrant communities in the state of minnesota through economic development activities. We work throughout the twin cities metropolitan area and other cities in minnesota to create wealth, lift immigrant communities out of poverty by providing business development training and small business consulting and housing program. In 2024 aeds provided $2.07 million in loan. Credt building program targets clients who need personalized assistance to improve their creditworthiness. This service is delivered through one-on-one, in-person weekly sessions lasting approximately 1.5 hours each. During the reporting period, 73 clients enrolled, and 61 completed the coaching process, achieving a completion rate of 84%. This program has proven particularly effective in helping participants develop better financial habits and improve their access to capital. Those who are credit invisible or need assistance rebuilding credit can apply for a credit builder loan that helps them rebuild their credit based on timely monthly payments entrepreneurship training and business plan…
$1,915,864 spentof which $66,024 as grants$228,435 earned by the program100% of program spending
The program described on its FY2024 Form 990. Program spending in total: $1,915,864.
The organization over time
Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended. The shaded band is where the middle 50% of its peers' revenue would sit, given their growth.
Balance sheet
Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2023 to 2024, from $10M to $14M (+36%).
How it's funded, over time
Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.
Government-grant reliance: 2017 13% · 2018 24% · 2019 34% · 2020 60% · 2021 18% · 2022 52% · 2023 15% · 2024 65%. Grants only. Government contracts and fees sit inside program revenue.
95% of AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS’s revenue is contributions — more reliant on donations than three-quarters of its peers (48% for the typical peer).
Surplus & reserves
Operating surplus or deficit each year, and months of liquidity in hand. 0 of the last 8 reported years ran a deficit.
reserve
Leadership and staff
The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.
Chief executive
Gene Gelgelu
President & CEO
Board chair
Rebecca Cooper
Chair
As listed on its FY2024 Form 990.
The chief executive listed changed between the FY2020 and FY2021, and between the FY2021 and FY2022 filings.
Who funds it, year by year
2017 → 2023: the base broadened from 4 funders to 19 funders, grant income rose $130k → $2.7M.
2 of 36 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 23% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.
From the IRS filings of AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS’s funders (the co-funder graph). Top 30 of 36 funders by total. Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How concentrated its funding is
AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS has a broad base — no single funder exceeds 15% of grant income, and it takes 5 funders to reach half.
the vertical line marks half of all grant income — 5 funders to its left
52% of the income these shares are computed over arrives through pass-through sponsors or from payers whose filings do not say what kind of payment it is. Concentration is still measured over all of it, because the money is real; what it does not support is a claim about how many institutions have chosen to fund AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS.
Largest funder’s share by year: 2017 38% · 2018 80% · 2019 39% · 2020 24% · 2021 19% · 2022 18% · 2023 29% — diversifying over time.
“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How long its funders stay
45% of AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS's funders are still giving 3 years after their first grant; 64% give in more than one year at all.
Share of funders still giving k years after their first recorded grant, pooled across every acquisition cohort. A funder counts as retained in a year only if it made a grant that year. Measured to FY2023, the last fiscal year that has finished arriving — a funder cannot be counted as lapsed in a year most filers have not reached.
Where its funders are
79% of AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS's grant income comes from Minnesota funders.
In-state vs out-of-state, by year
Funder states come from each funder’s own filing. $2.0M arriving through sponsors registered in 1 state is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Against its field
AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS runs a healthier operating margin than three-quarters of the 11,761 education nonprofits its size.
this organization peer median middle 50% of peers· 11,761 education nonprofits $1M–$10M, FY2024
Government funding AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS receives
Grants and contracts to this organization from federal (USASpending) and state checkbooks, reconciled to its EIN. $2.8M on record.
- Department of the Treasury$2.4M
- Small Business Administration$257k
- Department of Agriculture$100k
- National Endowment for the Arts$25k
Federal grants vs contracts are distinguished; state line items keep their reported category. Matched by name + geography (the BMF), so coverage is partial and precision-first.
Organizations like AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS
Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.
In Minnesota
Nationally
Read directly from this organization’s own Form 990, as neutral context.
Where the money goes
84% of spending goes to programs.
Governance
Public support
100%
Share of support from the public (Schedule A) — the basis for its public-charity status.
Footprint & structure
Files a return copy in 1 state
Screen this organization
A dated, signed PDF of the compliance screen for AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.
Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf
Questions and answers
- Who funds AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS?
- AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS (Minnesota) receives grants from 36 organizations whose IRS filings report $8,897,406 to it, the largest being SAINT PAUL & MINNESOTA FOUNDATION ($1,338,510). 23 of them have funded it in more than one year.
- How many funders does AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS have?
- IRS filings report 36 organizations giving $8,897,406 in grants to AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS, 23 of which have funded it in more than one year.
- Who is the largest funder of AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS?
- SAINT PAUL & MINNESOTA FOUNDATION is the largest funder on record, with $1,338,510 in grants. The full list of funders is on this page.
- How can an organization like AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS find more funders?
- Start with the funders already giving here, then look at the foundations that back similar organizations in Minnesota. The funding by cause and by state pages list the largest funders for a given area and how to approach them.
These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2024 (financials across 2017–2024), and the filings of 36 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 22, 2026. What this page cannot tell you · view filing