WEST BROADWAY BUSINESS AND AREA COALITION

EIN: 411985423 501(c)(3) Community Improvement

Minneapolis, MN

Total Revenue
$406,331
Total Expenses
$973,482
Total Assets
$1,628,314
Net Assets
$1,585,261
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Financial Trends

Organization Details

Formation Year
2004
Legal Domicile
MN
Principal Officer
Kristel Porter
Phone
6123535178
Tax Period
2024-01-01 to 2024-12-31

WEST BROADWAY BUSINESS AND AREA COALITION, founded in 2004, is a small nonprofit in the Community Improvement sector that reported $406K in total revenue in fiscal year 2024. Revenue surged 45% from the prior year, signaling strong growth momentum. Expenses of $973K exceeded revenue, resulting in a 140% operating deficit.

Mission

The West Broadway Business Coalition leads initiatives to bring businesses, non-profit organizations, and neighbors together to create an inviting and vital West Broadway corridor that will transform the Northside into a thriving economic community.

Program Service Accomplishments

Program 1
Expenses: $83,662 Revenue: $0

Technical Assistance Programs: Northside Business Luncheons: Northside Business Luncheons are monthly gatherings for networking and info on select topics with lunch provided from local restaurants...

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Technical Assistance Programs: Northside Business Luncheons: Northside Business Luncheons are monthly gatherings for networking and info on select topics with lunch provided from local restaurants and caterers in Minneapolis. Co-hosted by the West Broadway Business & Area Coalition (WBC) and the Northside Economic Opportunity Network (NEON). B-TAP: Provide direct business technical assistance and training to small businesses and microenterprises located in Minneapolis. The goal of the Business Technical Assistance Program (B-TAP) is to help small, Minneapolis-based businesses start or expand and support job creation in the city.

Program 2
Expenses: $450,509 Revenue: $13,160

Outreach/Events: Black Business Week- WBC partners with the City of Minneapolis every last week in July to host Black Business Week. This is a 2 day event that brings together Black-owned businesses...

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Outreach/Events: Black Business Week- WBC partners with the City of Minneapolis every last week in July to host Black Business Week. This is a 2 day event that brings together Black-owned businesses together to share, learn from each other, and to boost their sales and exposure. Day one consists of a formal business event highlighting prominent Black Business Owners throughout the country. Day 2 WBC hosts an outdoor pop-up street mall, where the community can shop for all their favorite products from Black-owned businesses in one place. Open Streets West Broadway- WBC has been hosting Open Streets West Broadway since 2011. This event has grown immensely from its inception and enjoys over 300 vendors every year. Open Streets West Broadway is led by WBC and partners with the City of Minneapolis, is supported by partner organizations along West Broadway Avenue to celebrate our community's commerce, programs and residents. This 17-block event happens in September and closes down our main business corridor in North Minneapolis and allows businesses to set up shop in the street. Bringing the businesses to the people and the entire city and surrounding twin cities area to the Northside so they may enjoy our rich culture and to be introduced to our narrative of the Northside. Black Friday on West Broadway- Created by 2 black-women business owners in North Minneapolis; WBC and Northside Economic Opportunity Network partnered with them to produce an event that allowed consumer conscious patrons in the Twin Cities to support an event that competed with big box stores, allowing a space where small business owners, artists, and curators could successfully sell their products to a wide audience for 2 days following the Thanksgiving holiday. West Broadway Business and Area Coalition (WBC) hosted its largest ever, 13th Annual Open Streets West Broadway, street fair.

Program 3
Expenses: $219,945 Revenue: $0

Corridor Recovery - Restore North and other grants or services provided to businesses and nonprofit organizations whose location of operation is North Minneapolis. WBC provides the West Broadway...

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Corridor Recovery - Restore North and other grants or services provided to businesses and nonprofit organizations whose location of operation is North Minneapolis. WBC provides the West Broadway Avenue Corridor with an Ambassador program that works to beautify and maintain the avenue. WBC staff maintains regular check-ins with Ambassadors to ensure that issues are addressed in a timely manner and in order to maintain a safe corridor. In 2024, they worked to remove 9,000 pounds of waste from the corridor and over $200,000 was granted to businesses in North Minneapolis.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $310,176
Program Service Revenue $13,160
Investment Income $82,995
Other Revenue $0
TOTAL REVENUE $406,331

Expense Breakdown

Grants Paid $210,300
Salaries & Benefits $351,137
Fundraising Expenses $73,955
Program Expenses $754,116
Other Expenses $412,045
TOTAL EXPENSES $973,482

Year-over-Year Comparison

2024 2023 Change
Revenue $406,331 $279,441 +0.5%
Expenses $973,482 $857,216 +0.1%
Net Income $-567,151 $-577,775 0.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
12
Independent Members
12
Employees
22
Volunteers
15

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$93,521
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Kristel Porter Executive Director 40.00
Officer
$93,521 $0 $93,521
Thakurdyal Singh President 2
Officer Director
$0 $0 $0
Tara Watson Past President 1
Officer Director
$0 $0 $0
Justin Baylor Treasurer 1
Officer Director
$0 $0 $0
Emma Deppa Secretary 1
Officer Director
$0 $0 $0
Pam Wandzel Board Member 1
Director
$0 $0 $0
Jim Tincher Board Member 1
Director
$0 $0 $0
Diane Robinson Board Member 1
Director
$0 $0 $0
Todd Smith Board Member 0.5
Director
$0 $0 $0
Teto Wilson Board Member 0.5
Director
$0 $0 $0
Ousman Camara Board Member 0.5
Director
$0 $0 $0
James Scott Board Member 0.25
Director
$0 $0 $0
Patricia Carter Board Member 0.25
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $406,331 $973,482 $1,628,314 $-567,151
2023 $279,441 $857,216 $2,193,522 $-577,775
2022 $197,896 $2,614,087 $2,785,444 $-2,416,191
2021 $711,000 $732,111 $5,268,017 $-21,111
2020 $5,773,794 $778,054 $5,222,481 $4,995,740
2019 $332,764 $462,804 $123,943 $-130,040
2018 $282,814 $433,827 $254,017 $-151,013
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