2024-11-13T15:17:09-06:00 2023-12-31 411534805 CARPENTER EVERT & ASSOCIATES LTD 7760 FRANCE AVE S SUITE 940 BLOOMINGTON MN 55435 990 2023-01-01 815486146 ASSOCIATION FOR BLACK ECONOMIC POWER ASSO 6125887821 227 COLFAX AVENUE NORTH 30 MINNEAPOLIS MN 55405 DR JUNEAU ROBBINS CHAIR 6125887821 2024-11-13 1 0 MARC COLIN P00560855 9528310085 2024-11-13 2023 2024-10-15 13:58:12Z DEBRA L HURSTON 227 COLFAX AVENUE NORTH 30 MINNEAPOLIS MN 55405 182196 0 X WWW.ABEPMPLS.ORG X 2017 MN SEE SCHEDULE O.CREATE PREVENTION AND INTERVENTION MODELS TO ADDRESS WEALTH EXTRACTION THROUGH SYSTEMS CHANGE AND THE DEVELOPMENT OF PRODUCTS AND SERVICES THAT PROVIDE GENERATIONAL WEALTH BUILDING OPPORTUNITIES AND ACCESS TO CAPITAL WHILE PROVIDING AN ALTERNATIVE TO TRADITIONAL PREDATORY, CULTURALLY INCOMPETENT AND INEQUITABLE PRACTICES. 9 9 3 9 0 0 500218 165296 0 0 284 1036 0 15864 500502 182196 0 0 0 0 157229 215717 15913 5510 44800 242980 266810 416122 488037 84380 -305841 856015 521918 40026 11770 815989 510148 X SEE SCHEDULE O.SEE FORM 990, PART I, LINE 1. 0 0 345896 SEE SCHEDULE O.ARISE COMMUNITY CREDIT UNIONIN 2023, THE MINNESOTA DEPARTMENT OF COMMERCE HAS OFFICIALLY CHARTERED ARISE CREDIT UNION, MARKING A HISTORIC MOMENT AS MINNESOTA'S FIRST BLACK-LED (AND NEWEST) CREDIT UNION IN THE STATE IN MORE THAN TWO (2) DECADESTHE ABEP FINANCIAL EMPOWERMENT CENTER (FEC) IS A PROGRAM THAT WORKS WITH RESIDENTS WITHIN THE COMMUNITY, WHO MAY BE UNBANKED, UNDERBANKED, OR VICTIMS OF PREDATORY LENDERS, OR OTHER FRINGE BANKING OUTLETS.OUR FINANCIAL EMPOWERMENT CENTER PROVIDES TAILORED SUPPORT TO INDIVIDUALS AT ALL LIFE STAGES, FROM YOUTH TO SENIORS. WE OFFER FINANCIAL EDUCATION PROGRAMS FOR STUDENTS, COLLEGE PLANNING AND JOB READINESS FOR YOUNG ADULTS, HOMEOWNERSHIP AND DEBT MANAGEMENT GUIDANCE FOR MID-LIFE ADULTS, AND RETIREMENT AND HEALTHCARE COST PLANNING FOR SENIORS. ADDITIONALLY, WE ASSIST FAMILIES WITH BUDGETING, INSURANCE, AND EMERGENCY SAVINGS, AND PROVIDE CRISIS INTERVENTION AND RECOVERY SUPPORT FOR AT-RISK INDIVIDUALS. OUR GOAL IS TO EQUIP EVERYONE IN OUR COMMUNITY WITH THE KNOWLEDGE AND RESOURCES THEY NEED TO ACHIEVE FINANCIAL STABILITY AND SUCCESS. 345896 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 11 0 1 3 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 0 0 0 MN X THE ORGANIZATION 6125887821 227 COLFAX AVENUE NORTH 30 MINNEAPOLIS MN 55405 DEBRA HURSTON EXECUTIVE DIRECTOR 40.00 X 100000 0 0 DR JUNEAU ROBBINS CHAIR 2.00 X X 0 0 0 GROVER JONES TREASURER 2.00 X X 0 0 0 BEN HERING SECRETARY 2.00 X X 0 0 0 VALERIE GEAITHER DIRECTOR 2.00 X 0 0 0 GRACIE GEORGE DIRECTOR 2.00 X 0 0 0 JAMES HOLMES DIRECTOR 2.00 X 0 0 0 SEAN JAMES DIRECTOR 2.00 X 0 0 0 IBRAHIM OWOLABI DIRECTOR 2.00 X 0 0 0 AQUILLA ROBINSON DIRECTOR 2.00 X 0 0 0 100000 0 0 0 0 0 0 0 165296 165296 1036 1036 OTHER INCOME 900099 15864 15864 15864 182196 0 0 16900 X 193411 139398 33144 20869 9810 7071 1681 1058 12496 9007 2141 1348 5510 5510 204425 153486 39543 11396 2258 1461 797 7436 5360 1274 802 20657 14888 3540 2229 8263 5955 1416 892 5249 2034 3215 11033 2038 8995 3505 2526 601 378 2944 2121 505 318 GRANTS AND AWARDS 551 551 OTHER EXPENSES 489 489 488037 345896 97341 44800 807477 430102 50000 80 3987 690 38430 23532 17134 14898 27417 26148 856015 521918 40026 11770 40026 11770 X 722767 291926 93222 218222 815989 510148 856015 521918 -305841 0 X X 0 1 X 1 0 X 969776 791545 267432 500218 165296 2694267 969776 791545 267432 500218 165296 2694267 0 0 0 2694267 125 46 120 284 1036 1611 125 46 120 284 1036 1611 15057 1136 15864 32057 984958 792727 267552 500502 182196 2727935 0.98770 0.99440 0.00060 0.00020 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12787 12787 25643 23532 2111 14898 WIP - CREDIT UNION BUILDOUT 19819 OTHER ASSETS 6329 26148 X 182196 0 182196 0 182196 488037 0 488037 0 488037 PART X, LINE 2: ABEP'S POLICY IS TO EVALUATE UNCERTAIN TAX POSITIONS, AT LEAST ANNUALLY, FOR THE POTENTIAL FOR INCOME TAX EXPOSURE FROM UNRELATED BUSINESS INCOME OR FROM LOSS OF NONPROFIT STATUS. ABEP CONTINUES TO OPERATE CONSISTENT WITH ITS ORIGINAL EXEMPTION APPLICATION AND EACH YEAR TAKES THE NECESSARY ACTIONS TO MAINTAIN ITS EXEMPT STATUS. IT HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER THE INTERNAL REVENUE CODE AND CHARITABLE CONTRIBUTIONS BY DONORS ARE TAX DEDUCTIBLE. IN COMPLIANCE WITH ITS EXEMPT STATUS, ABEP ANNUALLY FILES A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) AND, IF REQUIRED, AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T). FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD REVIEWS THE DRAFT FORM 990 AND APPROVES SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST AND DISCLOSURE STATEMENTS ARE RENEWED IN WRITING ANNUALLY BY THE BOARD AND STAFF. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G CONTRACT FEES: PROGRAM SERVICE EXPENSES 153,486. MANAGEMENT AND GENERAL EXPENSES 39,543. FUNDRAISING EXPENSES 11,396. TOTAL EXPENSES 204,425. FORM 990, PART XII, LINE 2C NO CHANGE FROM PRIOR YEARS.