Lake Street Council

What Lake Street Council does

Lake Street Council is a 501(c)(3) nonprofit business association founded in 1968 and headquartered at 2925 Chicago Ave S in Minneapolis, Minnesota. The organization engages, serves, and advocates for more than 2,000 small businesses and nonprofits along the six-mile Lake Street corridor in South Minneapolis, with particular focus on immigrant-owned (Somali, East African, Latino) and BIPOC-owned enterprises that comprise 82% of its grant recipients. Its core offering is a portfolio of community programs rather than a technology product: business advising, grants and funding administration (including the We Love Lake Street Recovery Fund, the Healthy Lake Street Fund, and the $8M Lake Street Lift program), advocacy and policy support, public art and mural programming (100+ murals), annual cultural events (Lake Street Bash, Taco Tour, Mural Day), cash-mob customer activation, and rapid-response support for immigrant businesses facing federal enforcement actions.

The business model is a nonprofit resource-throughput model rather than a commercial revenue model. Lake Street Council raises funds through donations from individuals, corporations, and foundations (including 80,000+ donors contributing to the 2020 We Love Lake Street fund), grants from government entities (City of Minneapolis, Hennepin County, State of Minnesota) and major foundations (Bush, McKnight, Graves), and event revenue. Operating with a lean 1-10 person staff led by Executive Director Allison Sharkey and Board President Jackie Knight, the organization functions as a critical intermediary that funnels philanthropic and public capital to corridor businesses through grants, loans, and technical assistance. Its go-to-market is community-led: direct multilingual engagement in English, Somali, and Spanish, digital channels (VisitLakeStreet.com, ~30k Instagram followers), and culturally resonant events that draw foot traffic to corridor businesses. Strategic partners include UnitedHealth Group, Ameriprise Financial, Wells Fargo, BMO Harris, and major foundations, while key beneficiaries include healthcare providers (Midtown Eye Care, Diamonds Home Health Care, Seward Pharmacy), community organizations (COPAL, MIGIZI), and small immigrant-owned retailers and service businesses.

Name

Lake Street Council

Legal name

Lake Street Council

Website

https://visitlakestreet.com

Company type

Private

Founded year

1968

Operating status

Operating

Headcount range

1–10 employees

Short description

Lake Street Council is a 501(c)(3) nonprofit founded in 1968 that supports, advocates for, and funds more than 2,000 small businesses and nonprofits along the six-mile Lake Street corridor in South Minneapolis, with a focus on immigrant and BIPOC-owned enterprises through grants, advising, cultural events, and rapid-response services.

Ownership category

akta.pro rank

Product category

Business Association & Community Development Services

NAICS

Civic and Social Organizations (813410), Religious, Grantmaking, Civic, Professional, and Similar Organizations (813)

SIC

Services-Membership Organizations (8600)

akta.pro primary industry

Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC)

akta.pro secondary industry

Parks, Recreation & Cultural Services (BPAIACAI)

Keywords

• Business association services
• Small business advocacy
• Community economic development
• Corridor revitalization
• Nonprofit grant programs

Headquarters

HQ city

Minneapolis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Donations and Fundraising: The Lake Street Council raises funds through donations from individuals, corporations, and foundations to support business recovery efforts and corridor revitalization programs.
2. Grants: Receives grant funding from government entities (City of Minneapolis, State of Minnesota, Hennepin County) and foundations (Bush Foundation, McKnight Foundation, etc.) to fund business support programs.
3. Event Revenue: Generates revenue through annual events including Lake Street Bash, Lake Street Mural Day, and Taco Tour on Lake Street.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Lake Street Council is a 501(c)(3) nonprofit business association that engages, serves, and advocates for the small business and nonprofit community along the Lake Street corridor in South Minneapolis. It delivers multilingual business support services, distributes recovery and development grants, organizes corridor marketing campaigns and cultural events, and runs advocacy programs such as Stand with Lake Street for immigrant-owned businesses. Programs are funded through donations, foundation grants, and government appropriations, including the $8 million Lake Street Lift initiative from the State of Minnesota.

Product overview

Lake Street Council is a 501(c)(3) nonprofit organization serving the Lake Street corridor in South Minneapolis since 1968. The organization operates as a community development and business support entity rather than a technology platform, offering a unified portfolio of programs including Business Programs (paid leave support, grants, advocacy), the We Love Lake Street Recovery Fund for COVID and civil unrest relief, the Healthy Lake Street Fund for healthcare businesses, and the Lake Street Lift $8M economic vitality program. Core services include Shop Local marketing initiatives, Public Art/Mural programming with annual Lake Street Mural Day, community events (Taco Tour, Lake Street Bash), the Stand with Lake Street rapid response initiative for immigrant businesses, and the Not Just a Business editorial blog. Swag merchandise generates program funding. All offerings work together to rebuild, strengthen, and advocate for the Lake Street business community.

Differentiator

Problem solved

Functional benefit

Products and services

• Business Programs Suite of business support services for Lake Street corridor businesses, including paid leave support, grant and funding opportunities, business news and updates, business advising, and advocacy and policy support.
• Lake Street Lift An $8 million State of Minnesota-funded program supporting economic health and vitality of the Lake Street Corridor through business advising, marketing, real estate consulting, events and festival sponsorships, corridor marketing, and vacant space and mural beautifications.
• We Love Lake Street Recovery Fund Emergency relief fund supporting local businesses and nonprofits damaged by civil unrest and COVID-19, providing grants of up to $25,000 for property damage and equipment replacement; $5.5 million was distributed to 300+ businesses in the first round.
• Healthy Lake Street Fund $750,000 fund from UnitedHealth Group awarded to 10 small healthcare and wellness businesses on Lake Street to support reopening, relocations, improvements, and expansions for businesses supporting community health and wellbeing.
• Stand with Lake Street Rapid response initiative supporting immigrant-owned businesses during Operation Metro Surge ICE enforcement, providing legal resources, emergency repairs, and funding assistance; aligned with the council's Stand with Lake Street public advocacy.
• Shop Local Marketing initiative directing customers to local businesses along the Lake Street corridor through curated itineraries and business directories on visitlakestreet.com.
• Public Art / Mural Program

Quantifiable outcome

• 82% of businesses receiving grants are BIPOC or immigrant-owned
• +2 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered minor and core.

• Odigo WellnessminorStrategic or Co-development Partner · 1 January 2024Collectively owned wellness center that received $10,000 pre-development grant and $25,000 acquisition loan from Lake Street Council. Located at 3115 Hennepin Ave S with Lake Street Council continuing to support through exterior improvement grants and marketing assistance.
• COPAL (Comunidades Organizando el Poder y la Acción Latina)coreStrategic or Co-development Partner · 1 January 2024Latino community organization received $50,000 pre-development grant and $100,000 acquisition loan for the Latino Center for Community Engagement at 2905 E Lake St. Lake Street Council was an early supporter of this project.
• We Love Lake Street Fund Oversight CommitteecoreOthersConvened committee of community leaders including representatives from African Development Center, Cultural Wellness Center, Latino Economic Development Center, Metropolitan Consortium of Community Developers, and other organizations to disburse recovery funds equitably.
• Healthy Lake Street Fund Oversight Committee MemberscoreOthersCommittee includes representatives from UnitedHealth Group, Allina Health, Ameriprise Financial, Wells Fargo, Ackerberg Group, BMO Harris, and The Family Partnership to ensure equitable distribution of health-focused business grants.

Scale indicators12 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Metropolitan Consortium of Community Developers (MCCD): Twin Cities coalition of community development nonprofits and partners. Fellow member of the We Love Lake Street oversight committee with overlapping mission in equitable community development and small business support.
• African Development Center (ADC): Minneapolis-based nonprofit supporting East African and African immigrant small business owners with business advising and lending. Direct peer serving the same Somali/East African business community that Lake Street Council serves along the corridor.
• Neighborhood Development Center (NDC): Minneapolis-based nonprofit providing business development, real estate, and lending support to entrepreneurs in low-income communities. Directly comparable as a Twin Cities nonprofit delivering multilingual business advising, small business loans, and corridor revitalization alongside Lake Street Council.
• Latino Economic Development Center (LEDC): Minneapolis-based nonprofit focused on Latino small business support, real estate development, and wealth-building. Comparable as a fellow member of the We Love Lake Street oversight committee with overlapping immigrant-owned business focus and bilingual service delivery.
• Cultural Wellness Center: Minneapolis-based community organization focused on cultural wellness, community health, and immigrant/BIPOC empowerment. Sits on the Lake Street Council's We Love Lake Street oversight committee and operates as a complementary community-based nonprofit in the same geography.

Broad incumbents

• Minneapolis Regional Chamber: Established Minneapolis chamber of commerce serving businesses across the metro. Comparable as a business association but operates at significantly larger geographic scale and does not specialize in immigrant/BIPOC-owned corridor businesses.
• Twin Cities LISC (Local Initiatives Support Corporation): National community development financial institution with Twin Cities presence, providing capital, grants, and technical assistance to community developers. Functions as a broader, well-capitalized incumbent operating in the same community development ecosystem.

Regional players

• West Broadway Business Coalition: Minneapolis North Side business coalition supporting the West Broadway corridor in North Minneapolis. Comparable as a corridor-focused business association serving BIPOC businesses in a different Minneapolis geography with similar mission structure.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/visitlakestreet
• Facebookfacebook.com/VisitLakeStreet
• LinkedInlinkedin.com/company/lake-street-council-minneapolis

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lake Street Council