ANNUAL REPORT 2006 - MEDA

Evening the Odds 

Envisioning Economic Parity 

Metropolitan Economic Development Association 

ANNUAL REPORT 2006

Who We Are 

MEDA (Metropolitan Economic Development Association) was founded in 1971 in response to 

persistent racial disparity and unrest growing in Minnesota and across the country. The corporate 

executives who formed MEDA saw business ownership as a positive, long-term solution to help 

narrow the gap of racial economic disparity. Since then, with the guidance of an active board 

representing Minnesota’s corporate landscape and successful entrepreneurs of color, MEDA 

has helped start over 380 businesses and assisted more than 15,000 entrepreneurs succeed 

in the free enterprise system. 

MEDA’s services are designed to establish long-term relationships that serve as catalysts to 

create successful businesses. These businesses then become part of a greater engine for 

generating new jobs with solid incomes. New jobs serve to narrow economic disparities faced 

by many entrepreneurs of color and the greater community. Ultimately, narrowing disparities 

leads to a stronger, more stable economy and increased opportunities for all Minnesotans. 

MEDA recently drafted its 2007-2009 strategic plan, redefining and reaffirming its vision, 

mission and measures of success for entrepreneurs of color: 

Vision 

economic parity for communities of color, driven by the entrepreneurial spirit 

Mission 

to help entrepreneurs of color achieve success in the free enterprise system 

Success in our mission will result in: 

• Sustainable businesses that employ diverse work forces and create quality, living wage jobs 

• Business owners who make positive contributions to their communities, become leaders and 

are considered role models 

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“...the gold standard in business 

development services.” 

Theresa M. Carr 

American Indian Neighborhood Development Corporation 

“...makes the dream of business 

ownership come true.” 

Mary E. Pickard, Community Affairs Vice President 

The Travelers Companies, Inc. 

“...successful in assisting minority business 

owners who are helping to build our 

community.” 

Stephen Sanger 

Chairman & CEO 

General Mills 

Printing: Chippewa Graphics

Table of Contents 

LEADERSHIP LETTER . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 

2006 ACCOMPLISHMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 

BUSINESS CONSULTING SERVICES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 

MEDA Loan Program . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 

Pacesetter Program . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 

Pacesetter Alumni . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 

Construction Partnering Program . . . . . . . . . . . . . . . . . . . . . . . 10 

PROCUREMENT TECHNICAL ASSISTANCE CENTER (PTAC) . . . . . . . . . . . . . . . . . . . . . 11 

TRAINING & LEADERSHIP DEVELOPMENT 

Executive Development Series . . . . . . . . . . . . . . . . . . . . . 12 

MEDA Golf Invitational . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 

Specialized Seminars . . . . . . . . . . . . . . . . . . . . . . . . . . 13 

IN THE COMMUNITY 

Partnerships . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 

Volunteers . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 

Awards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 

ANNUAL MEETING AND RECOGNITION LUNCHEON . . . . . . . . . . . . . . . . . . . . . . 16 

MEDA GALA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 

2006 HONORS 

Charles W. Poe Award, Entrepreneur of the Year . . . . . . . . . . . . . . . . . . . . 18 

Corporation of the Year . . . . . . . . . . . . . . . . . . . . . . . . . . 19 

Volunteers of the Year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20 

Entrepreneurial Hall of Fame . . . . . . . . . . . . . . . . . . . . . . . . . 22 

Champion Award . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 

FINANCIAL STATEMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 

MEDA OFFICERS AND ADVISORY BOARD MEMBERS . . . . . . . . . . . . . . . . . . . . . 26 

BOARD OF DIRECTORS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 

CONTRIBUTORS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 

VOLUNTEERS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 

MEDA STAFF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 

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Marilyn Dahl 

Board Chair 

Leadership Letter 

For the past 36 years, 

MEDA has helped 

even the odds for 

entrepreneurs of color 

through comprehensive 

business development 

services. Our track record of 

consistent, results-based work 

has earned MEDA high credibility 

within the community. We have 

continually demonstrated that the return on an 

investment in MEDA remains steady as measured 

by the economic impact of the businesses we assist. 

Those entrepreneurs continue to create and grow 

businesses that provide new, quality jobs – many 

held by people of color – and new economic activity 

for our state. 

Highlights in 2006 included launching the Next 

Step series, a training initiative for Pacesetters 

and Pacesetter Alumni; strengthening MEDA’s 

management team with the promotion of Sherri 

Komrosky to Director of the Procurement Technical 

Assistance Center (PTAC) and Scott Ochsner to 

MEDA Loan Program Manager; and reorganizing 

the Loan Program for efficiencies and new lending 

opportunities. 

MEDA’s commitment to the Construction Partnering 

Program (CPP) continues to provide excellent 

capacity-building opportunities for construction 

clients, as well as competitive advantages to the 

large contractors willing to partner. 

As 2006 marked MEDA’s 35th anniversary, we 

invested in the production of a 10-minute video 

highlighting its history. The production helped 

MEDA become one of a handful of partners chosen 

by Twin Cities Public Television (tpt) for a new 

program entitled Ordinary Heroes, featuring Richard 

Copeland (Thor Construction, Inc.) The first in a 

series of 10, this inspirational program celebrates 

Yvonne Cheung Ho 

President & CEO 

the professional and 

personal paths taken 

by ordinary heroes and 

the public organizations 

that have supported them 

along the way. It will also 

serve as an opportunity to 

heighten MEDA’s visibility in the 

metro area and, potentially, in other 

markets served by tpt in Minnesota and 

nationwide. 

2006 also marked the conclusion of our threeyear 

strategic plan. We examined and reflected 

on past successes, lessons learned, the current 

economic environment and future opportunities 

for the growth and success of MEDA and its clients. 

Doing so challenged us to draft a new plan to better 

position MEDA in providing long-term solutions for 

its clients. 

Led by Board Vice Chair Ward Armstrong, MEDA 

staff, Client Advisory Council and Board members 

adopted a new strategic plan with a renewed vision 

and focus on economic parity. While our mission 

to help entrepreneurs of color succeed in the 

free enterprise system remains relevant and our 

services in demand, our 2007-2009 strategic plan 

challenges MEDA and its partners to strive toward 

“economic parity for communities of color, driven by 

the entrepreneurial spirit.” 

During the past year, our Board received new energy 

as well as saying goodbye to several of our excellent 

Board members. We thank all for their guidance 

and leadership as MEDA works toward its vision 

of economic parity. Also, we have the privilege 

of working with some of the most determined, 

persistent and talented people: MEDA clients. We 

thank them for allowing MEDA to play a role in 

evening the odds.

2006 Accomplishments 

• Served 563 entrepreneurs of color statewide; 179 received in-depth 

services 

• Launched 19 new businesses, creating 165 new jobs and $11 million in 

revenues in year one 

• Trained 258 participants in sessions focused on marketing and sales 

• Assisted 29 loan clients that employ over 350 people in the MEDA Loan 

Program portfolio 

• Closed 15 new loans (six start-ups and nine expansions) 

• Utilized $710,000 from MEDA’s Loan Capital to leverage community 

financing totaling $3.3 million to businesses, that produced $11 million in 

revenues 

• Coached 15 active Pacesetters; graduated two 

• Helped 104 PTAC clients receive 422 contract awards totaling $278.8 

million with $92.9 million (33%) awarded to 27 entrepreneurs of color 

• Attracted over 4,000 volunteer hours from the business community 

Economic Impact 

Each year, MEDA gathers information about the business strength and economic 

impact of minority businesses. 

Total Sales: $1.167 billion (15% increase over 2005) 

Total Employment: 5,437 

Total Minority Employment: 2,947 (54% of total employment) 

55% provided health care benefits 

87% paid their workforce $11.00 or more per hour 

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Business Consulting services 

MEDA’s core service is business consulting. Our staff of highlyqualified 

business consultants provides a wealth of talent, 

knowledge and expertise that is shared in a trusted and 

confidential environment. This talent is augmented by the 

involvement of hundreds of excellent volunteers drawn from 

a variety of corporate and community sources in the areas of 

marketing, legal issues, accounting, operations and human 

resource management. 

MEDA consultants meet each entrepreneur where they are 

in their business cycle. Providing one-on-one services for 563 

entrepreneurs in 2006, MEDA consultants continue to help 

clients surmount obstacles that prevent or diminish their chance for 

business success. In addition, our consultants helped launch 19 

new businesses that created 165 new jobs, with $11 million in 

revenues. 

“The MEDA consulting team has 

been a tremendous partner in 

helping me grow my business.” 

Jennifer Amys, UpNet 

(pictured left with MEDA Business 

Consultant Kathleen Riopelle) 

The long-term goal is to help clients create sustainable businesses with community involvement that 

make a significant economic impact in terms of job creation and tax contribution. Through the provision 

of financial and business development resources, we help entrepreneurs 

build capacity, balance growth and stability and improve financial, 

management, marketing and human resource systems. 

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2006 ETHNIC DISTRIBUTION 

OF 563 MEDA CLIENTS 

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Cathy Cruz Gooch 

Catallia Mexican Foods, Inc. 

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Loan Program 

Bayo Mafe, Stanley Jide and Charles Chiefredo 

BCS African Wholesale Foods 

The MEDA Loan Program was established as a way to help even the 

odds faced by some of our clients in achieving entrepreneurial 

success. For the past 12 years, the Loan Program has provided 

creative financing for entrepreneurs who do not meet traditional 

lending guidelines. MEDA works closely with area banks to 

seek alternate paths to obtain financing. Our fund can lend 

up to $400,000 to clients with a demonstrated vision and 

drive, who simply need a credit boost. Funds can be used 

for working capital, 

equipment financing, 

project financing or 

business acquisition. 

The Loan Program is funded and underwritten by MEDA, the state 

of Minnesota’s Urban Initiative Loan Program and the MEDA Bank 

Consortium made up of the following institutions: 

Associated Bank Minnesota 

M&I Bank 

TCF National Bank Minnesota 

U.S. Bank 

Wells Fargo Bank Minnesota 

To improve the Loan Program’s service quality and capacity, MEDA 

expanded its staff and finance infrastructure. This included promoting 

Scott Ochsner from Business Consultant to Program Manager and 

obtaining Board approval to allow MEDA to lend outside of the Bank 

Consortium. This lending arrangement has enabled us to provide 

financing assistance to clients whom we otherwise would not be in the 

position to serve. 

MEDA packaged and secured funding for 15 loans in 2006. Six startups 

and nine expanding businesses received $3.3 million, supporting 

104 jobs in businesses with aggregate revenues of over $11 million 

annually. The Loan Progam participated with $710,000, providing the 

leverage and added enhancement necessary for our clients to access 

community banking capital. 

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LOAN DOLLARS BY INDUSTRY 

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RECIPIENTS BY ETHNICITY 

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FUNDING BY SOURCES 

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Pacesetter Program 

As MEDA’s premier consulting 

effort, the Pacesetter 

Program is a proven 

management consulting 

approach to accelerate 

the growth and build 

the capacity of a select 

group of high-potential 

clients. 

The program provides 

entrepreneurs with 

advanced business 

consulting services to fill in 

gaps in the areas of resource 

and financing, organizational 

infrastructure and internal 

systems. 

To help meet strategic development needs, Pacesetter launched the 

Next Step series as an exclusive initiative for current Pacesetters 

and alumni. In 2006, 132 participants from 20 client companies 

participated in six sessions focused on 

marketing and sales development. 

2006 Pacesetter Graduates 

Anthony Williamson 

Ajasa Technologies, Inc. 

& Suseela Kodali, SDK Software, Inc. 

Alberto Monserratte (c) and staff 

Latino Communications Network 

Hosted by Target Corporation, 

session speakers included 

Jill Konrath, Aimee Sands 

(Target), Kevin McArdle 

(Padilla Speers Beardsley), 

Jon Stone and Pat Lilja 

(Tunheim Partners), Gary 

Jader (Ideas on the Wall), 

Jan Nelson and Mike 

Mras (Certified Trade Show 

Marketer Program). 

2 0 0 6 PAC E SET T ERS 

Benson Carpet, Inc. 

PAUL DELAO 

CS Solutions, Inc. 

SRINIVAS THIRUNAGARI 

Eagle Employment 

BROOKE & RAY MEMENE 

EMPO, Inc. 

ALAN REID 

Innovative Chemical Corp. 

PAUL NARPAUL 

RICK NARPAUL 

Latino Communications Network 

ALBERTO MONSERRATE 

Martha Burns, Inc. 

MARTHA BURNS 

Mtec Electric 

NICK DANG & HUONG PHAM 

Mosquito 

AMY ARIAS PINK 

Progressive Consulting 

Engineers, Inc. 

NUZHAT QURESHI 

NAEEM QURESHI 

Tarraf Construction 

SALAH TARRAF 

UpNet Technologies, Inc. 

JENNIFER AMYS 

VIP Shredders, Inc. 

BRAHME SINGH 

Wells Technology, Inc. 

ANDY WELLS 

Topics included Selling 

to Big Companies, Image 

Creation and Branding, 

Developing a Marketing Strategy, Media, Advertising and 

Public Relations and Tradeshows and Networking. 

In 2007, the Next Step series is focused on leadership development, asset management and 

decision-making.

Pacesetter Alumni 

Owner Company Graduated 

Anthony Williamson Ajasa Technologies, Inc. 2006 

Suseela Kodali SDK Software, Inc. 2006 

Dorothy & Joe Richburg Keystone Computer Solutions, Inc. 2005 

Mija Yun Landenberger Yun’s Restaurant Co. 2005 

Eugene Johnson Metro Communication Services, Inc. 2004 

Juan Moreno New Image 2004 

Minou Hussain Pioneer Plastics, Inc. 2003 

Ricardo Armijo RCK Industries, Inc. 2003 

Anthony Wilkerson Abrax Systems, Inc. 2002 

Cathy Cruz Gooch Catalina Specialty Foods, Inc. 2002 

Dennis Diaz BGD Companies, Inc. 2001 

Jinmahn Kim Champion Service Corp. 2001 

Rodney Smith Computer Rental Systems, Inc. 2001 

John Herrera First American Capital Management 2001 

David Bice Bald Eagle Erectors, Inc. 2000 

William (Chuck) Hill Programming Solutions, Inc. 2000 

Lewis Ng Buildings Consulting Group, Inc. 1999 

K. Dennis Kim EVS, Inc. 1999 

Jodie Tanaka Tanaka Advertising 1998 

Dr. Timothy Childs TLC Precision Wafer Technology, Inc. 1998 

Earl & Lauraine Singh Singh Law Firm 1997 

Karen Kydd The Kydd Group 1997 

Frank Monteiro Universal Engineering Services, Inc. 1997 

Ed Lloyd Everything for the Office, Inc. 1996 

Armida Mendez Russell Mendez Russell Training & Development 1996 

Pankaj Jain Metro Garage Door Company 1996 

Kurian Benjamin BENCO Delivery Service, Inc. 1995 

David & Denise Badhwa Quality Laser 1995 

Lee Wiest Wiest International 1995 

Denise Bosquez Xylon Systems 1995 

Kojo Ben Taylor ExecuTrain, Inc. 1994 

Humberto Martinez Suarez Food Process & Control, Inc. 1994 

Kanta (Kay) Kuba GCI Systems, Inc. 1994 

Lynda Fjerstad Lynco Advertising Specialties, Inc. 1994 

Gayle McEnroe Metal Service Inc. 1994 

Sharon Ming Sewall Brothers Industrial Supply Co. 1994 

Satya Garg SM Engineering Company, Inc. 1994 

Monte Kewley Galaxy Technical Services, Inc. 1993 

Bennet Cyrus Metro Travel and Tours 1993 

John G. Nakasone Painting By Nakasone, Inc. 1993 

Vinod Gupta Software Moguls, Inc. 1993 

Eugene Moore Better Back Care Corporation 1992 

Randy Blackorbay Chippewa Graphics, Inc. 1992 

Michael Johnson Commercial Trucking & Leasing, Inc. 1992 

Fred & Hoyt Hsiao Shaw-Lundquist Associates, Inc. 1992 

Gae Veit Shingobee Builders, Inc. 1992 

Jorge & Mary Restrepo Spectrum Custom Designs, Inc. 1992 

Richard Copeland Copeland Truc-King, Thor Construction 1991 

Chittranjan Thakkar DCT Systems, Inc. 1991 

Maria Silva El Burrito Market, Inc. 1991 

Robert Kelly Kelly Computer Supplies 1991 

Jim Cook Quality House International 1991 

Charu Mehta Total World Travel, Inc. 1991 

Tranquilina Winick Aero Assemblies, Inc. 1990 

Mohan Amberker Amberker & Associates 1990 

Sandra and Prince Wallace Independent Packing Services, Inc. 1990 

Dr. Sita Dash UAS Laboratories, Inc. 1990 

Margarita Wilson Armor Security, Inc. 1989 

Gilbert Baldwin Columbia Precision Machine Corp. 1989 

Chris Juarez Electronic Office Environments 1989 

Vinod Kumar Kumar Mechanical, Inc. 1989 

Alfonso Perez Northern Sound 1989 

Daniel Sarno Two Guys From Italy 1989 

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Construction Partnering Program 

Gary Lewerer, Sowles Company 

and 

David Bice, Bald Eagle Erectors, Inc. 

2006 CPP Partners 

Majority Participants 

Hunt Electric 

Kraus-Anderson Construction 

M.A. Mortenson Company 

McGough Construction 

Mulchay Inc. (partial year) 

Swanson Youngdale 

Sowles Company 

Veit 

MBE Participants 

Bald Eagle Erectors 

Grand Development 

Mtec Electric 

NDN Drywall (partial year) 

Reiling Construction 

Thor Construction 


Washington Painting 

We are extremely proud of the work and relationships fostered over the 

past year through the administration of the Construction Partnering 

Program (CPP). With partial funding support provided by the City of 

Saint Paul, MEDA staff facilitated 10 CPP meetings, encouraging, 

maintaining and monitoring the growing business relationships 

and successful performance on contracts. 

MEDA staff played a key role in moving CPP forward and 

producing an economic impact for our community. Our business 

consultants also assisted minority contractors in building 

capacity and successfully performing on contracts. 

In addition, MEDA held a very successful and well publicized 2006 

CPP Awards Ceremony at the Guthrie Theater. In 2005, the Guthrie 

earned the CPP Project of the Year award. 

2006 CONSTRUCTION PARTNERING PROGRAM AWARDS 

Best Project: 

Midtown Exchange 

Best Minority Partner: 

Mtec Electric, Inc. 

Best Majority Partner: 

Hunt Electric 

Best Partnering Relationship: 

Bald Eagle Erectors, Inc. / Sowles Company 

Projects Involving 

Partnering Relationships 

Black Bear Casino 

Guthrie Theater 

Grand Casino Hinckley 

Gopher Stadium Demolition 

Memorial Blood Center 

Medtronic – Structural 

Medtronic – Parking Ramp 

Minneapolis Central Library 

Midtown Exchange 

Pennfield Condos – Sales Center 

University of Minnesota -- Nicholson 

Hall 

University of Minnesota -- 

Translational Research Facility 

494 Bridge Project 

Smith Avenue Ramp 

Saint Anthony Mills Apartment 

Wellstone Center 

Other Program Supporters 

Associated General Contractors 

(AGC) of Minnesota 

Association of Women 

Contractors (AWC) 

City of Minneapolis (CPED) 

City of Saint Paul (PED, Vendor 

Outreach, Human Rights) 

Hennepin County 

the hathor group 

National Association of Minority 

Contractors (NAMC) 

Ramsey County Property 

Management 

Saint Paul Building Trades 

University of Minnesota

Procurement Technical 

Assistance Center 

The Procurement Technical Assistance Center (PTAC)’s overall goal is to 

strengthen Minnesota’s economy by assisting businesses in securing 

government contacts at the Federal, State and local levels. Since 

October 2003, MEDA has served as the host of this federally-funded 

program. Through its Bid Match Program, PTAC provides a quick and 

easy way for clients to identify government procurement opportunities 

specific to their company’s products and services. 

With small businesses as its primary clientele, PTAC’s efforts are aligned 

with MEDA’s by working to increase minority business involvement in 

government contracting opportunities. PTAC area managers provide 

one-on-one counseling and technical assistance and offer extensive 

training through a variety of workshops designed for companies of all 

sizes and levels of experience. 

Client Highlights 

PTAC assisted Powerain Systems, Inc., a tribal-owned company in 

Tower, Minnesota, with solicitation questions and bid package review. 

Their product - vehicle washing equipment and supplies - seemed an 

unlikely match; however, they received fast results and were awarded a 

$298,000 contract for a drive-in truck wash at Minot Air Force Base. 

Through a close working relationship 

with PTAC specialists, Saginaw 

Construction, a disabled-veteran 

company from Duluth, Minnesota, 

was awarded a Multiple Award Task 

Order Contract with the Minnesota 

National Guard. They are now 

one of five contractors approved 

for National Guard projects 

throughout the state for the next 

five years. Through PTAC networking 

events, Saginaw also has established 

a working relationship with the Veteran’s 

Administration Medical Center in St. Cloud 

and have had multiple contracts totaling 

$1.3 million. 

Steve Erickson 

Saginaw Construction 

Keystone Computer Solutions, a Saint Paul minority-owned company, 

attended a North Central Regional Council meeting hosted by PTAC and 

was introduced to contacts at the Grand Forks Air Force Base. This 

meeting led to a sole-source award for a $205,000 contract for IT help 

desk services. 

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PTAC 

2006 Results 

• Worked with 936 clients 

throughout Minnesota 

• Produced 57 workshops 

which trained 2,204 potential 

contractors on the ins 

and outs of government 

contracting 

• Attracted more than 200 

attendees to the 2nd Annual 

out-state Procurement Fair 

in Walker, MN. 

• Consulted one-on-one with 

338 new business owners 

and followed up with 2,584 

meetings 

• Assisted in securing 422 

contracts awarded to 104 

individual contractors 

totaling $278.8 million 

• 33% of the total awards ($92.9 

million) were earned by 27 

entrepreneurs of color 

• 5,576 jobs were created 

or sustained through 

these contract awards 

(as calculated by Federal 

formula) 

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Training & Leadership 

Development 

Executive Development Series 

David Cress, Andy Kim 

and Hoyt Hsiao 

The Executive Development Series (EDS) connects the influence 

and expertise of area CEOs with the desire of emerging 

executives of color to discuss industry trends, leadership 

qualities, business philosophies and management practices. 

Attendees look to each speaker for his/her personal view of 

corporate and individual success so that they might apply 

similar strategies to their business and personal lives. 

Our clients are up close and personal, hearing about the 

challenges these executives have experienced in leading a 

business, with the freedom to ask questions and share their own 

stories. 

In addition to lunch with a leader, there is often an opportunity to 

meet supplier diversity or procurement personnel as well. 

Another benefit is for the corporate executives to experience – first 

hand – the entrepreneurial spirit of these courageous business 

owners. 

2006 speakers included: 

• Cynthia Lesher, President & CEO, Northern States Power Company - Minnesota 

• Stephen Sanger, Chairman & CEO, General Mills, Inc. 

• David Cress, President & CEO, North Memorial Health Services 

• David Roberts, President & CEO, Graco, Inc. 

MEDA Golf Invitational 

More than 70 MEDA clients and business professionals 

teamed up for a day of golf and networking at the Legends 

Golf Course in Prior Lake. Sponsored by Rider Bennett,LLP, 

the Associated General Contractors of Minnesota, Ryan 

Companies US, BOR-SON Construction and Hunt Electric, this 

special invitation event offered attendees an opportunity to 

relax and establish and strengthen relationships.

Training & Leadership 

Development 

Specialized Seminars 

Selling to the Nonprofit 

In conjunction with the Minnesota American Indian Chamber 

of Commerce, MEDA sponsored “Selling to the Nonprofit,” a 

joint training session with the Minnesota Council of Nonprofits. 

Approximately 30 clients attended this informational seminar 

to learn how to tap into the purchasing power of the nonprofit 

sector. 

Ethical Leadership Roundtable 

Priyanka Gupta and Suseela Kodali 

MEDA partnered with Saint Mary’s University of Minnesota to offer 

SDK Software, Inc. 

an exclusive leadership roundtable for MEDA clients. Hosted by the 

Hendrickson Institute for Ethical Leadership, the multi-part forum offered clients an opportunity to share their 

views on personal values and business ethics to be documented and shared with future MBA students. 

Nuzhat Qureshi and Andy Wells 

Construction Law 

Nearly 50 MEDA clients gathered at a construction law seminar 

hosted by Rider Bennett to discuss legal traps faced by 

contractors and construction-related companies. Guest 

speakers, John Hauge, partner at Rider Bennett, LLP, and Jeff 

Kuster, Risk and Regulatory Services Manager at Acordia, 

presented invaluable information on contracting, mechanic’s 

liens, insurance and safety and health regulations, along 

with practicial tips for understanding contractual rights and 

obligations. 

The seminar also featured panelists from BOR-SON Construction, 

Ryan Companies US, Adolfson & Peterson and Greiner Construction 

who discussed key factors for building successful contractor and 

subcontractor relationships. 

Cargill/ McDonald’s Franchise Seminar 

Cargill provided special funding to address the needs of food related businesses. As a result, MEDA 

connected with McDonald’s and their senior executives to host a seminar in which attendants could learn 

about the business of franchising. MEDA also participated in food safety training development with the City 

of Minneapolis as part of an Emergency Readiness Education Team. 

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In the Community 

Partnerships 

MEDA’s history is rooted in networking and partnerships, maintaining 

“MEDA’s 

impact on the 

and sustaining meaningful connections with organizations. Area 

chambers of commerce that serve entrepreneurs of color, as well as 

the National Association of Minority Contractors and the Association 

vitality of its clients 

and the community is 

extraordinary and Wells Fargo 

is proud of helping to found 

of Women Contractors are among the organizations with which we 

enjoy a working relationship. 

and support MEDA.” 

Carolyn H. Roby, 

Partners 

Entrepreneurs at different 

Wells Fargo Foundation 

Minnesota 

African Development Center 

Army Corp of Engineers 

Associated General Contractors 

of Minnesota 

stages of education, financial 

stability and growth need different 

training, financing and connections. We work in collaboration 

Association of Women 

with many economic development partners and business 

Contractors 

organizations to augment service provision and leverage community 

City of Saint Paul (PED) 

Hispanic Chamber of 

resources to meet client needs. 

Commerce of Minnesota 

Latino Economic Development 

Center 

MEDA provides direct links to many 

of the resource organizations in 

“Working 

together with MEDA 

Milestone Growth Fund 

the Twin Cities and in the state gives us the ability to 

Minneapolis Consortium of of Minnesota. In addition, provide more effective 

Community Developers 

we recognize the different assistance to the Latino 

Minnesota American Indian 

Chamber of Commerce 

Minnesota Black Chamber of 

Commerce 

Minnesota Minority Supplier 

Development Council 

methods and strategies for 

business development of 

other organizations in the 

community. 

entrepreneurial community.” 

Ramon Leon, Executive Director 

Latino Economic 

Development Center 

Minnesota’s Urban Initiative MEDA’s ongoing challenge remains 

Program 

National Association of MInority 

Contractors 

Native American Business 

to utilize the strengths of each organization and coordinate an 

integrated system that reduces service duplication and leverages 

community investment. We are look forward to continued and new 

Enterprise Center 

collaborations with key economic development partners, through 

Small Business Development shared clients, client referral, joint 

Centers 

State of Minnesota Department 

of Administration 

financing or more 

partnering agreements. 

formalized 

“Meeting 

all of our small 

State of Minnesota Department 

business goals 

of Employment and Economic 

simply would not have 

Development 

been possible without the 

University of Minnesota Law 

invaluable assistance and 

Clinic 

cooperation from PTAC.” 

U.S. Small Business 

Administration 

Whittier Neighborhood CDC 

Thomas Koopmeiners 

US Army Corps of Engineers 

St. Paul District

Volunteers 

MEDA appreciates the over 250 volunteers who have invested more 

than 4,000 hours over the past year to help our clients start and grow 

their businesses. These volunteers led special interest seminars and 

workshops as well as provided one-on-one professional assistance 

to clients. 

Their time and expertise have provided invaluable assistance in 

legal, accounting, marketing and organizational development to 

our clients. 

In addition, 15 executive level volunteers maintained one-on-one 

mentor/mentee relationships in 2006. 

Awards 

We take pride in MEDA staff, clients and support networks. It is heartwarming when they are honored for their 

many accomplishments. 

Marta Chou 

George Jacobson, MEDA Director, 

Business Consulting Services & Loan Program 

Minnesota Minority Small Business - 

2006 Champion of the Year 

Small Business Administration 

Adam Nathe, Gray Plant Mooty 

“25 on the Rise, Lideres Hispanos for 2006” 

Hispanic Chamber of Commerce of Minnesota 

In the Community 

Terry Brown, MEDA Board Member 

Vanguard Award 

General Mills 

Tom Chacon, Boring Machine Corporation 

2006 Minority Business Awards, 

Minneapolis/St. Paul Business Journal 

Marta Chou, Robins Kaplan Miller & Ciresi, LLP 

“25 on the Rise, Lideres Hispanos for 2006” 

Hispanic Chamber of Commerce of Minnesota 

Kevin McArdle leading a Pacesetter 

workshop 

George Jacobson 

15

16 

Annual Recognition Luncheon 

C h a m p i o n i n g t h e E n t re p re n e u r i a l S p i r i t 

MEDA’s Annual Meeting and Recognition Luncheon provides a forum to report MEDA’s outcomes to the 

community-at-large and to recognize individuals and organizations for their invaluable contributions to the 

economic success and development of our clients and communities. 

Our 2006 event celebrated MEDA’s 35-year history of bridging racial and economic gaps by providing business 

development programs and services to entrepreneurs of color. Presided over by Wells Fargo executive, Marilyn 

Dahl, we honored several clients and contributors, from those who helped found MEDA to those who continue 

to personify MEDA’s mission and vision. 

2005 Honorees 

CHARLES W. POE AWARD 

ENTREPRENEUR OF THE YEAR 

David Bice, 

Bald Eagle Erectors, Inc. 

CORPORATION OF THE YEAR 

Target Corporation 

VOLUNTEERS OF THE YEAR 

David Faribarn 

Kinney & Lange, P.A. 

& 

Nichole, Martini, 

Shingobee Builders, Inc. 

MENTOR/MENTEE RELATIONSHIP OF THE YEAR 

Frank Monteiro, 

Universal Engineering Services, Inc. 

& 

Tom Adamson 

Adamson & Associates 

OUTSTANDING ADVISORY BOARD MEMBER OF THE YEAR 

John Labosky, 

Capital City Partnership 

ENTREPRENEURIAL HALL OF FAME 

Richard Copeland, 

Thor Construction, Inc. 

CHAMPION AWARD 

John Stout, 

Fredrikson & Byron, P.A. 

In addition, we premiered our 35th Anniversary Video 

which traced MEDA’s origins and testified to our 

continuing relevance in the economic community.

MEDA Gala 

Each November, 

MEDA hosts a blacktie 

benefit dinner and 

auction to celebrate 

the success and 

development of 

e n t r e p r e n e u r s 

of color. This 

special evening 

not only connects 

a unique network of 

business owners and 

professionals, it also 

serves as a critical 

fundraiser to support 

MEDA’s programs and 

services. 

We celebrated our 35th 

anniversary with more 

than 650 guests dancing to 

a special evening of musical 

history. Dance band, Synergy, made 

its way through 35 years of hits, starting with Marvin 

Gaye’s 1971 classic, What’s Going On. 

We gave special thanks to our presenting sponsor, 

Target, and our titanium sponsor, M&I Bank, who 

helped make this event possible. 

The Gala Committee chair, Kim Maher of Veit, led 

the full committee through a year of hard work to 

produce this wonderful event. The Gala provides 

15 percent of MEDA’s annual operating revenue. 

Our 2006 event hit new financial records. 

2006 MEDA Gala 

Committee Members 

Kim Maher, Veit – Chair 

Dana Bratsch, Target 

Kathy Johnson, 

Metro Communication Services, 

Inc.* 

Neesha Mehta, Stonebridge Bank 

Shari Rhode, Bremer Bank 

Trish Sakrison, Western Bank 

Philona Saunders 

Paul Schupmann 

Sandy Wallace, 

Independent Packing Services, Inc.* 

Andrea Burns, 

Independent Packing Services, Inc* 

Tracy Wild, Aero Assemblies* 

* a MEDA client company 

17

18 

CHARLES W. POE AWARD 

ENTREPRENEUR OF THE YEAR 

Andy Wells 

Wells Technology, Inc. 

2006 honors 

Andy Wells founded, owns and manages 

Wells Technology, a manufacturer of precision 

fasteners in Bemidji, Minnesota. A Native 

American who was born and raised on the Red 

Lake Indian Reservation, Andy has become a 

leader, not only for his company, but also for 

his community. 

Through a high emphasis on quality and 

craftsmanship, along with Andy’s astute 

decision-making and visionary leadership, 

Wells Technology has grown in sales from just 

under $1 million in 2004 to over $30 million 

this past year. He now employs 31 people, 

many from the reservation where living wage 

jobs are limited. 

Through sustained growth and invaluable 

mentorship from Fastenal, Wells Technology 

produces enough profit to fund one of Andy’s 

special interests – the Wells Academy, a 

nonprofit organization, which trains and 

employs Native Americans. 

Andy also gives back through his roles on 

numerous local boards, community councils, 

economic development efforts and as mentor 

to other entrepreneurs. 

Andy is well thought of and admired in his 

community, throughout his industry and the 

state. Among many honors, Andy has won 

the Eagle Award from the American Indian 

Chamber of Commerce and the American 

Indian Business of the Year from the United 

Indian Development Association. 

His customers’ high regard for Wells Technology is reflected in its award for “One Million Products with Zero 

Defects” from Hi-Lex Cable Company and the “Supplier Appreciation Award” from BAE Systems. 

MEDA congratulates Andy and looks forward to his continued success.

We are proud to honor Wells 

Fargo as Corporation of the 

Year for its unfailing support 

to MEDA in 2006. We share 

a long history. Wells Fargo 

is considered a founding 

organization through Phil Harris’ 

(Northwestern National Bank of 

Minneapolis) involvement in our 

original charter. The Wells Fargo 

Foundation has continually 

contributed to MEDA since 

the original request in 1971. 

In addition, several corporate 

executives have served on 

MEDA’s Board of Directors and 

Advisory Board. Currently, 

Marilyn Dahl serves as Board 

Chair and Debra Paterson 

serves on our Advisory Board. 

CORPORATION OF THE YEAR 

Wells Fargo Bank, Minnesota 

“Wells Fargo has shown again 

and again its commitment to 

making our community a better place to live,” says Yvonne Cheung Ho, MEDA President and CEO. “Carolyn 

Roby of the Foundation gives us words of encouragement and Sharon Garth works to find and nurture business 

opportunities for our clients.” Several Wells Fargo bankers, Dave Bendel and Rick Bonlender among them, 

also play key roles in advising our staff and clients. 

As a member of the MEDA Banking Consortium, Wells Fargo not only serves as a potential lender to clients, but 

also encourages its employees to volunteer their time at credit committees, help advise clients on financing 

decisions and assist in the professional management of the MEDA Loan Program. In addition to the over 100 

hours of volunteer time donated, Wells Fargo team members attended MEDA events, sought new ways clients 

could do business with Wells Fargo and donated fabulous auction items to our annual Gala. 

MEDA thanks Wells Fargo, its management and the many employees of the company for their personal and 

corporate commitment to our mission of helping entrepreneurs of color succeed. 

Pictured above: l-r, George Jacobson, Stanley Jide , Scott Ochsner, Marilyn Dahl, Sharon Garth, 

Charles Chiefredo, David Bendel and Rick Bonlender 

19

20 

VOLUNTEER OF THE YEAR 

Steven Heim, 

Dorsey & Whitney LLP 

Throughout 2006, Steven Heim was instrumental in his role as advocate and ‘defender’ of the MEDA 

Loan Program, its contracts and, particularly, collection procedures. 

Formed in 1994, the Loan Program’s intent was to produce a revolving fund based on an original 

grant from the McKnight Foundation. MEDA also attracted the attention of several major funders in 

the banking industry to help our clients gain access to the kind of financing their businesses need. 

Although the fund has an incredibly low default rate in light of the high risk and seldom collateralized 

loans, MEDA has faced challenges in preserving the fund’s revolving nature. 

Steven has given MEDA great advice and pro bono help to protect the assets of the Loan Program 

so they can revolve as intended - enabling MEDA to provide financing for an increasing number of 

entrepreneurs of color.

VOLUNTEER OF THE YEAR 

Sharon Holland, 

Lurie Besikof Lapidus & Company, LLP 

Helping to create, clean up and clarify financial records for our clients, Sharon Holland has proven to 

be a tireless volunteer, contributing over 100 hours of accounting expertise. 

Sharon gave the precious commodities of time and patience to explain the importance of clear 

financial statements and how they can be used as a management tool. From a janitorial company 

to an international trading company, she enabled clients to build appropriate charts of accounts, 

make proper entries and learn the best bookkeeping practices. The initial step to a well-managed 

company is well-managed finances. Many of our clients have Sharon to thank for a solid beginning 

for their business records. 

21

22 

ENTREPRENEURIAL HALL OF FAME 

Prince & 

Sandy Wallace 

Independent Packing Services, Inc. 

MEDA is proud to induct Prince 

and Sandy Wallace into the MEDA 

Entrepreneurial Hall of Fame for 

their ongoing success as business 

owners and their commitment to the 

community. 

Prince and Sandy have continued to 

demonstrate confidence, compassion 

and humility in growing and developing 

their businesses: Independent Packing 

Services, Inc. (IPSI) and West Central Environmental Consultants, Inc. (WCEC). 

Celebrating its 30th anniversary this year, IPSI has established an excellent reputation for high quality packing 

and crating. As IPSI consistently offers cost savings, freight security and on-time performance, their clients 

remain loyal and long term. 

West Central Environmental Consultants, Inc., with offices in Minnesota and Montana, offers cutting edge 

technology in the areas of regulatory compliance, investigation and remediation, emergency response 

services for spills, leaks and hazardous material. The company also trains local government units in the areas 

of weapons of mass destruction (WMD) and hazardous material handling. 

Prince and Sandy realize that their employees’ success -- professional, personal and financial -- is vitally 

important to their own. As such, they have established programs to help employees improve their credit, 

become homeowners and promote self-empowerment. They also offer educational scholarships for 

employees’ children. 

Prince and Sandy lead the way in giving back. They continue to provide leadership on nonprofit boards, 

contribute to professional associations and universities, mentor other entrepreneurs and give to charitable 

organizations, including MEDA. In addition, Sandy and their daughter, Andrea, also serve as volunteers on the 

MEDA Gala Committee. 

MEDA congratulates Prince and Sandy on their success and thanks them for their unconditional support for 

those who work hard to follow in their footsteps.

Gae Veit 

Shingobee Builders, Inc 

Gae Veit is truly a MEDA Champion. 

She beat the incredible odds of business 

success for a female entrepreneur of color 

in a male-dominated field. She accessed the 

resources and opportunities available to her 

and built a business that now exceeds $50 

million in revenues. 

As her company flourished, through leadership 

and financial resources, as well as her talent 

and valuable time, Gae reached back into the 

community that supported her to help more 

entrepreneurs experience similar success. 

From mentoring dozens of fledgling 

entrepreneurs and employees to encouraging 

and offering her staff time to volunteer, Gae 

has set an excellent example, becoming a role 

model for others to emulate. 

CHAMPION AWARD 

In addition, Gae has served on the MEDA Board of Directors for the past 14 years, continually offering new 

perspectives and wisdom. 

We are proud and thankful to have her in our network, now as MEDA’s Champion of the Year. 

23

24 

Financial Statements 

Independent Auditor’s Report 

To the Board of Directors of Metropolitan 

Economic Development Association: 

We have audited the accompanying statement of financial position of Metropolitan Economic Development 

Association (MEDA) (a nonprofit organization) as of December 31, 2006, and the related statements of 

activities, functional expenses, and cash flows for the year then ended. These financial statements are 

the responsibility of MEDA’s management. Our responsibility is to express an opinion on these financial 

statements based on our audit. The prior year summarized comparative information has been derived from 

the Organization’s 2005 financial statements, and, in our report dated March 24, 2006, we expressed an 

unqualified opinion on those financial statements. 

We conducted our audit in accordance with auditing standards generally accepted in the United States 

of America. Those standards require that we plan and perform the audit to obtain reasonable assurance 

about whether the financial statements are free of material misstatement. An audit includes examining, on 

a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also 

includes assessing the accounting principles used and significant estimates made by management, as well 

as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable 

basis for our opinion. 

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial 

position of Metropolitan Economic Development Association as of December 31, 2006, and the changes 

in net assets and its cash flows for the year then ended in conformity with accounting principles generally 

accepted in the United States of America. 

Rogers and Company 

Certified Public Accountants 

March 28, 2007

ASSETS 

CURRENT ASSETS: 

Cash and cash equivalents 

Investments 

Investments held for loans and administration 

Contributions and grants receivable 

Accounts receivable, net of allowance 

of $300 in 2006 and $300 in 2005 

Interest receivable 

Prepaid expenses 

Total current assets 

Loans and interest receivable, net of allowance 

of $289,939 in 2006 and $258,830 in 2005 

Interfund receivable (payable) 

Property and equipment, net of accumulated depreciation 

of $363,721 in 2006 and $366,845 in 2005 

Total assets 

LIABILITIES AND NET ASSETS 

CURRENT LIABILITIES: 

Accounts payable 

Accrued expenses 

Deferred revenue 

Current portion of bonds payable 

Total current liabilities 

Due to state of Minnesota 

Bonds Payable 

Total liabilities 

NET ASSETS: 

UNRESTRICTED: 

Undesignated 

Board designated 

Temporarily restricted 

Total net assets 

Total liabilities and net assets 

UNRESTRICTED 

SUPPORT AND REVENUES: 

Contributions 

In-Kind Contributions 

Special events support 

Less: Direct Benefit to Donors 

State and other grant revenue 

Federal reimbursements 

Registrations 

Investment income 

Service fees 

Other 

Total support and revenues 

EXPENSES: 

Program Services 

Client service 

Uncollectible loan loss 

Supporting Services 

General and administrative 

Fundraising 

Total expenses 

CHANGE IN UNRESTRICTED NET ASSETS 

TEMPORARILY RESTRICTED 

SUPPORT AND REVENUES: 

Special events support 

CHANGE IN TEMPORARILY RESTRICTED NET ASSETS 

CHANGE IN NET ASSETS 

NET ASSETS, beginning of year 

NET ASSETS, end of year 

METROPOLITAN ECONOMIC DEVELOPMENT ASSOCIATION 

STATEMENT OF FINANCIAL POSITION 

Operating 

Fund 

$ 491,999 

710,855 

- 

107,764 

10,300 

6,685 

17,028 

1,344,631 

- 

95,891 

397,218 

$ 1,837,740 

$ 1,965 

29,687 

2,500 

24,000 

58,152 

- 

354,000 

412,152 

1,417,338 

- 

8,250 

1,425,588 

$ 1,837,740 

$ 769,902 

133,682 

419,749 

(89,046) 

155,000 

30,000 

55,533 

26,667 

73,262 

1,236 

1,575,985 

904,271 

- 

412,028 

225,536 

1,541,835 

34,150 

8,250 

8.250 

$ 42,400 

$ 1,383,188 

$1,425,588 

Financial Statements 

Loan 

Fund 

$ 121,128 

- 

811,329 

- 

12,689 

- 

945,146 

759,290 

(76,184) 

- 

$ 1,628,252 

$ - 

- 

- 

- 

- 

632,689 

- 

632,689 

- 

995,563 

- 

995,563 

$ 1,628,252 

DECEMBER 31, 2006 AND 2005 

STATEMENT OF ACTIVITIES 

FOR THE YEAR ENDED DECEMBER 31, 2006 

WITH COMPARATIVE TOTALS FOR DECEMBER 2005 

$ - 

- 

- 

- 

- 

- 

- 

154,752 

3,709 

- 

158,461 

80,294 

36,000 

- 

- 

116,294 

42,167 

- 

- 

42,167 

953,396 

995,563 

PTAC 

$ 137,371 

- 

- 

71,121 

2,445 

- 

10,259 

221,196 

- 

(19,707) 

- 

$ 201,489 

$ - 

8,475 

40 

- 

8,515 

- 

- 

8,515 

30,521 

162,453 

- 

192,974 

$ 201,489 

$ - 

91,101 

- 

- 

- 

469,866 

14,549 

- 

46,846 

2,143 

624,505 

607,794 

- 

- 

- 

607,794 

16,711 

- 

- 

- 

16,711 

176,263 

192,974 

Total 

2006 

$ 750,498 

710,855 

811,329 

178,885 

12,745 

19,374 

27,287 

2,510,973 

759,290 

- 

397,218 

$ 3,667,481 

$ 1,965 

38,162 

2,540 

24,000 

66,667 

632,689 

354,000 

1,053,356 

1,447,859 

1,158,016 

8,250 

2,614,125 

$ 3,667,481 

$ 769,902 

224,783 

419,749 

(89,046) 

155,000 

499,866 

70,082 

181,419 

123,817 

3,379 

2,358,951 

1,592,359 

36,000 

412,028 

225,536 

2,265,923 

93,028 

8,250 

8,250 

101,278 

2,512,847 

2,614,125 

Total 

2005 

$ 701,730 

683,285 

868,395 

108,044 

6,759 

15,223 

28,703 

2,412,139 

808,339 

- 

395,916 

$ 3,616,394 

$ 6,363 

31,197 

362 

23,000 

60,922 

664,625 

378,000 

1,103,547 

1,413,709 

1,099,138 

- 

2,512,847 

$ 3,616,394 

$ 740,260 

179,339 

410,622 

(117,482) 

127,500 

535,054 

69,199 

126,451 

107,422 

2,639 

2,181,004 

1,617,159 

30,000 

318,677 

199,708 

2,165,544 

15,460 

- 

- 

- 

15,460 

2,497,387 

2,512,847 

25

26 

MEDA Officers & 

Advisory Board Members 

MEDA Officers 

Marilyn Dahl 


Board Chair 

John Stout 


Secretary 

Advisory Board 

Richard Davis 

U.S. Bancorp 

Debra Paterson 


Ward Armstrong 

Ameriprise Retirement Services 

Vice Chair 

Joel Lebewitz 

Lurie Besikof Lapidus & Company 

Treasurer 

Richard Kelly 

Xcel Energy 


General Mills, Inc. 

Sophie Bell Kelley 

Intrinzia Family Office 

Vice Chair 


MEDA 


John Labosky 

Capital City Partnership 

Robert Ulrich 


William Klein 

Stonebridge Bank 

Vice Chair 

Vance Opperman 

Key Investment, Inc 

Retired Advisory Board Members: Wayne Brunthanks for landing on my page...the add is much 

appreciated...

David Bice, 


Morris Goodwin, Jr. 

The Hogan Group 

Kevin Kane 

M&I Bank 

Corey Peters 

RBC Dain Rauscher, Inc. 

May Yue 

SKY BioHealth, Inc. 

Board of Directors 

Terrance Brown 


Fred Harris 

3M Company (Retired) 

Mija Yun Landenberger 

Yun’s Restaurant Company 

James Scannell 


Douglas Eden 

Cargill Malt 

David Holleran 

Piper Jaffray & Company 

Gary Manney 

U.S. Bank 

Kojo Benjamin Taylor 

Taylor Borde Group 

Bruce Engelsma 

Kraus-Anderson Companies, Inc. 

Kevin Hykes 

Medtronic, Inc. 

Donnalee Papenfus 

Fastenal Company 

Kathryn Tunheim 

Tunheim Partners 

Retired Board Members: Cynthia Lesher, Paul Narpaul, Libby Pidgeon, 

Russell Swansen, Gae Veit and Ramona Wilson 

27

28 

Contributors 

General Operating 

Support 

- Corporate & 

Foundations 

$100,000 and above 

State of Minnesota 


3M Foundation 

The General Mills Foundation 

The Minneapolis Foundation 

Travelers Foundation 

Twin Cities Metro Certified 

Development Company 

Wells Fargo Foundation, MN 

$30,000 - $49,999 

Ameriprise Financial 

Advisors, Inc. 

The Medtronic Foundation 

U.S. Bancorp Foundation 

Xcel Energy Foundation 

$20,000 - $29,999 

M&I Bank 

Thrivent Financial for 

Lutherans Foundation 

$10,000 - $19,999 

The Pentair Foundation 

SUPERVALU Foundation 

$5,000 - $9,999 

Fred C. and Katherine B. 

Andersen Foundation 

Deluxe Corporation 

Foundation 

The Fredrikson & Byron 

Foundation 

Imation Corporation 

Kraus-Anderson 

Construction Company 

Marquette Financial 

Companies 

Piper Jaffray Foundation 

The TCF Foundation 

$3,000 - $4,999 

RBC Dain Rauscher 

Foundation 

Securian Foundation 

$1,000 - $2,999 

Anonymous 

Associated Bank, Minnesota 

The Burdick-Craddick Family 

Foundation 

The Vance C. Demong 

Charitable Trust 

Emerson Process 

Management - Rosemount 

Inc. 

Faegre & Benson Foundation 

The Goodwin-Lindsay Family 

Fund 

Larkin Hoffman Daly & 

Lindgren, Ltd. 

Leonard, Street and Deinard 

Foundation 

Ted and Roberta Mann 

Foundation 

Piper Jaffray Matching Gifts 

Program 

Walter C. Rasmussen 

Foundation - Northeast 

Bank 

Tennant Foundation 

Toro Giving Program 

The Whitney Foundation 

$1 - $999 

Biffs, Inc. 

The Paul and Pat Curran 

Foundation 

JE Dunn Construction - 

North Central 

The Hubbard Broadcasting 

Foundation 

Infigo, LLC 

Lawrence Auctioneering, LLC 

The Sanger Family 

Foundation 

Sit Investment Associates, 

Inc. 

U.S. Bancorp Foundation 

Special Project 

Support 


Cargill, Inc. 

City of St. Paul 

Rider Bennett, LLP 

$1 - $9,999 


Associated General 

Contractors of Minnesota 

BOR-SON Construction Inc. 



Hunt Electric 

William Klein 

Lurie Besikof Lapidus & 

Company, LLP 

Ryan Companies US, Inc. 

SUPERVALU, Inc. 

General Operating 

Support 

--Individual 

Investors 



Mark Cooper 

Marilyn Dahl 

Wallace and Susan 

Droegemueller 

Douglas Eden 

Jim Faricy 

Walter Faster 

Liz-Ann Fraser 

Jerry Grundhofer 

Fred Harris 


Gary Hobart 


Dan Holmquist 


Jan Jordet 

Kevin Kane 


Sherri Komrosky 

John Labosky 

Cynthia Lesher 

Louise Nemmers Mageli 

Gary Manney 

Hector Martinez 

Rodney McGee 

Christina Nebel 

Scott Ochsner 

Donnalee Papenfuss 

Kathleen Riopelle 

Edgardo Rodriguez 


John Stout 



Robert Ulrich 

Tim Wagner 

Caroline Zhang 

Corporate Sponsors 

2006 Annual 

Meeting 

Partner - $5,000 

Xcel Energy, Inc. 

Patron - $3,500 

Faegre & Benson, LLP 


U.S. Bank 

Wells Fargo Bank Minnesota, 

N.A. 

Benefactor - $1,500 


Company, LLP 


Friend - $500 


Media Supporters 

Asian American Press 

Asian Pages 

Latino Communications 

Network (LCN) 

Minneapolis/St. Paul Business 

Journal 

Minnesota Spokesman- 

Recorder 

One Nation News 

Unisys

Corporate Sponsors 

2006 Benefit Gala 

Presenting - $45,000 

Target 

Titanium - $25,000 

M&I Bank 

Platinum - $15,000 

Best Buy Co., Inc. 

U.S. Bank 

Gold - $10,000 

3M 


Twin Cities Business 

Magazine 


N.A. 

Silver - $7,500 

Ameriprise Financial, Inc. 

Carlson Companies 

Ceridian Corporation 


RBC Dain Rauscher 

Western Bank 

Xcel Energy 

Bronze - $5,000 

Bremer Bank 

City of Minneapolis 

Empowerment Zone 

Franklin Bank 


McGough Construction 

North Memorial Health Care 



SUPERVALU Foundation 

Thrivent Financial for 

Lutherans 

The Travelers Companies 

Copper - $3,000 

Adolfson & Peterson 

Construction 



Highland Bank 

TCF National Bank Minnesota 

Tunheim Partners 

Zinc - $1,500 

ADC Telecommunications, 

Inc. 

AT&T 

C.H. Robinson Worldwide, Inc. 

Cobb Strecker Dunphy & 

Zimmerman, Inc. 

David Martin Agency, Inc. 

Excel Bank Minnesota 

Frauenshuh 

G&K Services, Inc. 


Company, LLP 

Merrill Lynch, Adams/ 

Kraemer Group 

PCL Construction Services, 

Inc. 


Shared Ventures, Inc. 

Veit 

Minority Business 

Enterprises (MBE) & 

Individual 

Sponsors 


Diamond - $5,000 

Chippewa Graphics, Inc. 

Emerald - $3,000 


Equus Computer Systems, 

Inc. 

Independent Packing 

Services, Inc. 

Shaw-Lundquist Associates, 

Inc. 


Ruby - $1,500 

Auego Affinity Marketing 

EMPO 

GCI Systems 

Contributors 

Morris Goodwin & Donna 

Lindsay Goodwin 

John Ho & Yvonne Cheung Ho 

Bill & Robbie Klein 

Joel Lebewitz & Gail Be 

Seminole Logistics, LLC 



TAJ Technologies, Inc. 

Sapphire - $500 

Aero Assemblies, Inc. 

Ajasa Technologies, Inc. 


Benson Carpet, Inc. 

BGD Companies, Inc. 

Terrance & Shelly Brown 

Buildings Consulting Group, 

Inc. 

Champion Service 

Corporation 

Columbia Precision Machine 

Corp. 

CS Solutions, Inc. 

Marilyn Dahl 

El Burrito Market, Inc. 

FlowSense, LLC 

JBR Construction Services 

Jan Jordet and Owe Lund 

Keystone Computer 

Solutions, Inc. 

Metro Communication 

Services, Inc. 

Mtec Electric, Inc. 

Painting by Nakasone, Inc. 

Peter Deng & Associates, CPA 

Pioneer Plastics, Inc. 

Progressive Consulting 

Engineering, Inc. 

Quality Laser, Inc. 

Rani Engineering, Inc. 

Ricardo & Jo Robles 

Jerry & Katie Seck 

SM Engineering Company, 

Inc. 

John & Marcia Stout 

TCC Distributors, Inc. 

Top Line Growth, LLC 

United Noodles 

Wells Technology 

Media Supporters 

Asian American Press 

Asian Pages 

Insight News, Inc. 

Latino Communications 

Network (LCN) 

Minneapolis/St. Paul Business 

Journal 

Minnesota Spokesman- 

Recorder 

One Nation News 

Additional 

Supporters 


Alaskan Fur 

American Solutions for 

Business 


Associated Financial Group 

Augeo Affinity Marketing 

David Bice 


Carlson Companies 

Marilyn Dahl 


Hill Country Nurseries, Inc. 



Hunt Electric 

Mark Kampf 

Kraus-Anderson 

Construction Company 

Larson Allen LLP 

Moss & Barnett 


Powerain 


Tim Skelly 

John Stout 

Russell Swansen 

Tanaka Advertising 

Veit 


N.A. 

Windsong Farm Golf Club 

29

30 

Volunteers 

3M 

Fred Harris 

John Fischer 

John Jorgenson 

Acordia 

Jeff Kuester 

Adamson & Associates 

Tom Adamson 

Adolfson & Peterson Construction 

David Molda 

Aero Assemblies, Inc. 

Tracy Wild 

AGC of Minnesota 

Jane Sanem 

Ajasa Technologies 

Anthony Williamson 

Ameriprise Financial Services, Inc. 


Associated Bank, Minnesota 

Farooq Bhatty 

Jacqueline Davison 

Russell Knighton 

Association of Women Contractors 

Rita Rodriguez 


David Bice 

BGD Companies, Inc. 

Dennis Diaz 

BOR-SON Construction Inc. 

Gary Krocak 

Bremer Bank 

Shari Rhode 

Cargill 

Douglas Eden 

Central Community Housing Trust 

Matthew Hendricks 

Chippewa Graphics 

Randy Blackorbay 

City of Minneapolis (CPED) 

Kent Robbins 

City of Saint Paul 

Melissa Benson 

Charles Gbadebo 

City of Saint Paul (Contract & 

Analysis) 

Susan Feuerherm 

City of Saint Paul (Dept. of Human 

Rights) 

Tyrone Terrill 

City of Saint Paul (PED) 

Angela Burkhalter 

Readus Fletcher 

Stephanie Selb 

Concordia College 

Dr. Bruce Corrie 

Designer Sign Systems 

Sally Macut 

Doody Mechanical 

Mike Stillman 

Dorsey & Whitney LLP 

Angela Hall 

Steven Heim 

Charles Moore 

Robert Schwartzbauer 

Faegre & Benson LLP 

Jodie Boderman 

Mary Beth Brody 

Andrew Humphrey 

Julie Regnier 

Sonya Royston 

David Vander Haar 



Franklin Bank 

Rich Esquival 


Lynn Gardin 

Shirley Konkol 

Monaya Krause 

Carrie Seele 

Renee Senger 

John Stout 

Pam Wandzel 

GCI Systems 

Kay Kuba 

General Mills Generators 




Girl Scout Council of Greater 

Minneapolis| 

Erica Erb 

Graco Inc. 

Dave Roberts 

Gray Plant Mooty 

Adam Nathe 

Hunt Electric 

Mike Hanson 

Ideas on the Wall 

Gary Jader 

Independent Packing Services, Inc. 

Andrea Burns 

Prince Wallace 

Sandra Wallace 

Innovative Chemical Corporation 

Paul Narpaul 

Intrinzia Family Office 


Iyawe & Associates 

Simon Iyawe 

Keystone Computer Solutions, Inc. 

Dorothy Richburg 

Kraus-Anderson Companies, Inc. 

Bruce Engelsma 

Arthur Gardner 

LeaderSource 

Dee Gaeddert 

Lurie Besikof Lapidus & Company, 

LLP 

Lissa Bishop 

Sandy DeMars 

Sharon Holland 

Lisa Kettler 

Joel Lebewitz 

Marshall Lehman 

David Nelson 

M&I Bank 

Kevin Kane 

Roy Nguyen 

Connie Tran 


Lynn Littlejohn 

McDonald’s 

Oscar Binder 

Larry Brown 

Jim Duval 

Shelly Hanson 

Shahab Hyder 

Brian Oaks 

Adam Rivas 

McGough Construction, Inc. 

Andrea Yenish 

Jeff Rountree 


Jim Driessen 

Gretchen Ebert 

John Gossmann 

Kevin Hykes 

Metro Communications Services, 

Inc. 

Kathy Johnson 

Metropolitian Airport Commission 

Juan Lopez 

Minneapolis Consortium of 

Community Developers (MCCD) 

Iric Nathanson 

Minnesota Hmong Chamber of 

Commerce 

Khue Yang 

Minnesota Small Business 

Development Center

Moss & Barnett 

John Hauge 

National Association of Minority 

Contractors (NAMC) 

Bobby Champion 

North Memorial Health Care 

David Cress 

Piper Jaffray & Company 


PR International 

Ivy Chang 

Ramsey County (Property 

Management) 

Jay Biedny 

Carol Morphew 

RBC Dain Rauscher, Inc. 

Corey Peters 

Reatha Clark King & Assoc. 

Dr. Reatha Clark King 


Amy Amundson 

Tracy Domish 

Richard Franks 

Allison Katz 

Joseph Lawder 

Christine Longe 


Mike Cairl 

Elizabeth Campbell 

Saint Paul Area Chamber of 

Commerce 

Karri Plowman 

Saint Paul Building & Construction 

Trades 

Harry Melander 

Sales Growth Specialists 

Danita Bye 

Shared Ventures, Inc. 

Howard Weiner 


Gae Veit 

Single Volunteers Twin Cities 


May Yue 

Small Business Administration 

– Minnesota 

Randy Czaia 

Sowles Company 

Mike Dvorkin 

Gary Lewerer 

Dan Sowles 

Staff, Inc. 

Susan St. James 

State of Minnesota 

Hope Jensen 

Orlanda Klinkhammer 

Paul Stembler 

StoneArch Consulting 

Kevin McArdle 


William Klein 

Neesha Mehta 

Swanson & Youngdale, Inc. 

Tim Kavanaugh 

Tanaka Advertising 

Jodie Tanaka 


Dana Bratsch 

Jennifer Funderburk 

Kathy Mazon 

Joe Mudd 

Target Commercial Interiors 

Joe Perdew 

Target Corporation Employees 


Salah Tarraf 

Taylor Borde Associates 


TCF Bank Minnesota 

John Nelson 

William Sarvela 

Mike Triggs 

the hathor group 

Claudia Osterman 

The Hogan Group 





Richard Copeland 

Gilbert Odenkor 

Thrivent Financial for Lutherans 

Russell Swansen 

Tunheim Partners, Inc. 

Noelle Hawton 

Pat Lilja 

Jon Stone 


Twin Cities Business 

Connie Van Housen 

Twin Cities LISC 

Ron Price 

U.S. Bank 

Gary Manney 

Jeff Nelson 

University of Minnesota 

Volunteers 

Sharon Banks 

Craig Taylor 

University of Minnesota - Law Clinic 

Mary Alton 

John Matheson 

Veit 

Kim Maher 

Wells Fargo Bank Minnesota 

David Bendel 

Rick Bonlender 

Marilyn Dahl 

Oscar Hernandez 

Tom Miller 

Gianna Theuri 

Timothy Walker 

Western Bank 

Trish Sackrison 

Winthrop & Weinstine 

Jon Armour 

Xcel Energy, Inc. 

Cynthia Lesher 

Ramona Wilson 

Yun’s Restaurant 

Mija Landenberger 

Individuals 

Bill Anderson 

Mark Clary 

Barbara Davison 

Sally Domson 

Manny Gonzalez 

Mariel Grossinger 

Patrick Hanlon 

Steve Helland 

Tim Jenkins 

Lars Johnson 

Ezell Jones 

Laurie Jordet 

Susan Kulstad 

Emily Lund 

Carter McCoy 

Lillian McDonald 

Mike Mras 

Jan Nelson 

Ricardo Robles 

Derek Rowell 

Carl Samaroo 

Woody Sankey 

Philona Saunders 

Erin Schroeder 

Paul Schupmann 

Krista Skogen 

Alex Steele 

Jerry Steele 

Ty Thayer 

Susan Widdell 

Justin Williamson 

Stewart Woodworth 

31

Arlette Abrahmson 

PTAC Northern Area Manager 

32 

Stephenetta Harmon 

Marketing & Public 

Relations Coordinator 

Tim Kennedy 

Sr. Business Consultant 

Louise Nemmers Mageli 

Marketing and 

Communications Assistant 

Suzi Scott 

Public Relations 

Coordinator 



Gary Hobart 

Director of Strategic 

Services & Operations 

Sherri Komrosky 

Director, PTAC 

Hector Martinez 

Business Consultant 

Tim Wagner 

Administrator, 

Program Services 

MEDA Staff 

Mark Cooper 

PTAC Metro Area Manager 

Dan Holmquist 

Director of Finance 

and Administration 

Kris Maritz 


Scott Ochsner 

Loan Program Manager 

Independent Contractor 

John Kilian 

PTAC Southern 

Area Manager 

Jim Faricy 

Sr. Business Consultant 


Director, Business 

Consulting Services & 

Loan Program 

Rodney McGee 

PTAC Metro Area Manager 

Kathleen Riopelle 


Liz-Ann Fraser 

Administrative Assistant 

Jan Jordet 

Director, Fund 

Development and 

Communications 

Christina Nebel 

PTAC Central Area 

Manager 

Edgardo Rodriguez 


Note: Caroline Zhang served as staff during 2006.

Commerce at the Crossings 

250 Second Avenue South 

Suite 106 

Minneapolis, MN 55401 

www.meda.net 

helping entrepreneurs of color succeed

ANNUAL REPORT 2006 - MEDA

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