ANNUAL REPORT 2006 - MEDA
ANNUAL REPORT 2006 - MEDA ANNUAL REPORT 2006 - MEDA
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 1
- Page 1: Evening the Odds Envisioning Econom
- Page 5 and 6: Table of Contents LEADERSHIP LETTER
- Page 7 and 8: 2006 Accomplishments • Served 563
- Page 9 and 10: Loan Program Bayo Mafe, Stanley Jid
- Page 11 and 12: Pacesetter Alumni Owner Company Gra
- Page 13 and 14: Procurement Technical Assistance Ce
- Page 15 and 16: Training & Leadership Development S
- Page 17 and 18: Volunteers MEDA appreciates the ove
- Page 19 and 20: MEDA Gala Each November, MEDA hosts
- Page 21 and 22: We are proud to honor Wells Fargo a
- Page 23 and 24: VOLUNTEER OF THE YEAR Sharon Hollan
- Page 25 and 26: Gae Veit Shingobee Builders, Inc Ga
- Page 27 and 28: ASSETS CURRENT ASSETS: Cash and cas
- Page 29 and 30: David Bice, Bald Eagle Erectors, In
- Page 31 and 32: Corporate Sponsors 2006 Benefit Gal
- Page 33 and 34: Moss & Barnett John Hauge National
- Page 36: Commerce at the Crossings 250 Secon
Who We Are<br />
<strong>MEDA</strong> (Metropolitan Economic Development Association) was founded in 1971 in response to<br />
persistent racial disparity and unrest growing in Minnesota and across the country. The corporate<br />
executives who formed <strong>MEDA</strong> saw business ownership as a positive, long-term solution to help<br />
narrow the gap of racial economic disparity. Since then, with the guidance of an active board<br />
representing Minnesota’s corporate landscape and successful entrepreneurs of color, <strong>MEDA</strong><br />
has helped start over 380 businesses and assisted more than 15,000 entrepreneurs succeed<br />
in the free enterprise system.<br />
<strong>MEDA</strong>’s services are designed to establish long-term relationships that serve as catalysts to<br />
create successful businesses. These businesses then become part of a greater engine for<br />
generating new jobs with solid incomes. New jobs serve to narrow economic disparities faced<br />
by many entrepreneurs of color and the greater community. Ultimately, narrowing disparities<br />
leads to a stronger, more stable economy and increased opportunities for all Minnesotans.<br />
<strong>MEDA</strong> recently drafted its 2007-2009 strategic plan, redefining and reaffirming its vision,<br />
mission and measures of success for entrepreneurs of color:<br />
Vision<br />
economic parity for communities of color, driven by the entrepreneurial spirit<br />
Mission<br />
to help entrepreneurs of color achieve success in the free enterprise system<br />
Success in our mission will result in:<br />
• Sustainable businesses that employ diverse work forces and create quality, living wage jobs<br />
• Business owners who make positive contributions to their communities, become leaders and<br />
are considered role models<br />
1
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