AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS (EIN 800345712) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2008

Legal Domicile

Principal Officer

GENE GELGELU

Phone

6516469411

Tax Period

2023-01-01 to 2023-12-31

AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS, founded in 2008, is a community nonprofit in the Education sector that reported $3.9M in total revenue in fiscal year 2023. The organization ran a surplus of $2.0M, a strong 51% operating margin.

Mission

AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS (AEDS) BUILDS WEALTH WITHIN AFRICAN IMMIGRANT COMMUNITIES IN THE TWIN CITIES THROUGH ECONOMIC DEVELOPMENT ACTIVITIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $3,627,508

Program Service Revenue $231,646

Investment Income $0

Other Revenue $8,981

TOTAL REVENUE $3,868,135

Expense Breakdown

Grants Paid $39,603

Salaries & Benefits $1,062,815

Fundraising Expenses $119,795

Program Expenses $1,555,255

Other Expenses $775,840

TOTAL EXPENSES $1,878,258

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,868,135	$3,784,754	+0.0%
Expenses	$1,878,258	$3,113,284	-0.4%
Net Income	$1,989,877	$671,470	+2.0%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

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

$156,844

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GENE GELGELU	PRESIDENT & CEO	40.00	Officer	$133,436	$23,408	$156,844
KATE SPEED	CHAIR	1.00	Officer Director	$0	$0	$0
REBECCA COOPER	SECRETARY	1.00	Officer Director	$0	$0	$0
GEBI TUFAA	TREASURER	1.00	Officer Director	$0	$0	$0
ANTHONY J ISUBIKALU	DIRECTOR	1.00	Director	$0	$0	$0
GROVER JONES	DIRECTOR	1.00	Director	$0	$0	$0
OMER KISSI	DIRECTOR	1.00	Director	$0	$0	$0
NONKULUEKO SHONGWE	DIRECTOR	1.00	Director	$0	$0	$0
EBISSO UKA	DIRECTOR	1.00	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	No data	No data	No data	No data
2023	$3,868,135	$1,878,258	$10,106,080	$1,989,877
2022	$3,784,754	$3,113,284	$6,521,701	$671,470
2021	$2,479,243	$983,290	$5,659,267	$1,495,953
2020	$5,145,016	$3,917,111	$4,047,906	$1,227,905
2019	$1,245,666	$566,866	$1,506,400	$678,800
2018	$610,400	$529,817	$566,671	$80,583

AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS