EIN 80-0163521

Northside Economic Opportunity Network

IRS 501(c) type
501(c)(3)
Num. employees
16
Year formed
2009
Most recent tax filings
2023-12-01
Description
Northside Economic Opportunity Network collaborates with partner organizations to build wealth for low- to moderate-income entrepreneurs in North Minneapolis and surrounding communities. NEON provided 5,547 hours of technical assistance, disbursed $920,000 in grants, and approved/disbursed $1,650,000 in loans to businesses in 2022. It also conducted 11 thinking about business and food 101 sessions. NEON is a member of the Destination Northside Coalition, which aims to transform North Minneapolis into a more prosperous and healthy environment.
Total revenues
$11,896,335
2023
Total expenses
$2,772,485
2023
Total assets
$18,678,460
2023
Num. employees
16
2023

Program areas at Northside Economic Opportunity Network

In 2023 neon served 1,427 clients, provided 6,157 hours of technical assistance, approved and/or disbursed $722,500 in loans to businesses. We helped start 229 businesses, created 217 jobs, and retained 381 jobs. We conducted 11 thinking about business and food 101 workshops. We launched the food industry cohort series and we held 8 events. 90 percent of neon clients are bipoc and 80 percent are african american.
The destination Northside coalition is a group of organizations committed to the long-term Economic prosperity of north minneapolis. The destination north coalition seeks to:- transform north minneapolis into a more prosperous, healthy and thriving environment that is centered on sustaining a good quality of life for our residents.- strengthen Northside business corridors as key destinations for families, individuals, stakeholders and visitors.- increase north minneapolis' visibility and viability as a destination while growing our assets and building cultural wealth through generations.

Who funds Northside Economic Opportunity Network

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Bush FoundationThe Northside Economic Opportunity Network (Neon) Will Develop and Test An Innovative Black Food Business Incubator That Supports Entrepreneurs and Promotes A Regenerative Economy in North Minneapolis. Modeled After the Hatchery in Chicago, Neon's Facility Will Further Innovate This Model By Incorporating Other Functions Including Adding A Retail Component To Drive Northside Visibility and Vitality.$3,200,000
WEM FoundationGeneral$3,000,000
Charities Aid Foundation of AmericaCharitable Donation$340,000
...and 20 more grants received totalling $7,525,762

Personnel at Northside Economic Opportunity Network

NameTitleCompensation
Stephen ObayuwanaSenior Vice President and Chief Operating Officer$124,500
Ann FixVice President of Business Development
Phillip Conley JrDirector of Marketing and Communications
Patrick WilsonDirector of Development
Tina ThomasOffice Manager and Neon Spaces
...and 1 more key personnel

Financials for Northside Economic Opportunity Network

RevenuesFYE 12/2023
Total grants, contributions, etc.$11,401,045
Program services$220,283
Investment income and dividends$346,874
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$-71,867
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$11,896,335

Form 990s for Northside Economic Opportunity Network

Fiscal year endingDate received by IRSFormPDF link
2023-122024-10-10990View PDF
2022-122023-07-11990View PDF
2021-122022-11-11990View PDF
2020-122021-11-11990View PDF
2019-122021-04-02990View PDF
...and 11 more Form 990s
Data update history
December 9, 2024
Posted financials
Added Form 990 for fiscal year 2023
November 28, 2024
Used new vendors
Identified 2 new vendors, including , and
November 26, 2024
Received grants
Identified 4 new grant, including a grant for $3,000,000 from WEM Foundation
November 7, 2024
Updated personnel
Identified 7 new personnel
August 25, 2024
Received grants
Identified 3 new grant, including a grant for $30,000 from DV Foundation
Nonprofit Types
Civic / social organizationsBusiness and community development organizationsCharities
Issues
Human rightsCommunity improvementEconomic development
Characteristics
Fundraising eventsState / local levelReceives government fundingTax deductible donationsAccepts online donations
General information
Address
1007 W Broadway Ave N
Minneapolis, MN 55411
Metro area
Minneapolis-St. Paul-Bloomington, MN-WI
County
Hennepin County, MN
Website URL
neon-mn.org/ 
Phone
(612) 302-1505
IRS details
EIN
80-0163521
Fiscal year end
December
Taxreturn type
Form 990
Year formed
2009
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S31: Urban, Community Economic Development
NAICS code, primary
813410: Civic and Social Organizations
Parent/child status
Independent
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