2023-10-25T12:24:06-05:00 2022-12-31 411397419 Abdo LLP 5201 Eden Avenue Suite 250 Edina MN 55436 990 2022-01-01 510467167 Latino Economic Development Center LATI 6127245332 804 Margaret Street Saint Paul MN 55106 Henry Jimenez Executive Director 6127245336 2023-10-17 1 Henry Jimenez XXX-XX-XXXX 0 Steven D Anseth CPA P00552219 9528359090 2023-10-09 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z Henry Jimenez 804 Margaret Street Saint Paul MN 55106 4731238 0 X www.ledcmn.org X 2003 MN To transform our community by creating economic opportunities for Latinos throughout Minnesota. 13 13 31 10 0 0 18840539 4105183 212645 120605 134823 148810 340637 351932 19528644 4726530 11467019 1158750 0 0 1685711 1426044 0 0 161142 3753684 1906364 16906414 4491158 2622230 235372 11641082 11425396 5393355 4942297 6247727 6483099 To transform our community by creating economic opportunities for Latinos across the state of Minnesota. We provide a structure, support system and tool with which to promote sustainable communities. 0 0 2791862 1158750 381373 Business Development: LEDC's Business Development Program consultants supported more than 600 Latino-owned, immigrant-owned, and BIPOC-owned small businesses and entrepreneurs, providing more than 2,500 hours of technical assistance. 281442 28977 Agriculture Program : In 2022, the Agriculture Program distributed $52,500 in 3 agricultural loans to 3 farms, 100% of whom are owned by Latino farmers. In this year the program also secured a $675,000 in USDA and MDA grant award to systematically address the needs of underserved farmers by providing access to capital, markets, land, and other resources to underserved producers. LEDC's Agriculture Program consulted with 32 Latino farmers and conducted over 750 hours of individual technical assistance focusing on Poultry Production, Sheep Production, Calf Operations, Financial planning, and access to markets. 315575 207065 Lending Programs: In 2022, LEDC's Lending Program made 29 loans totaling $1.47 million and leveraging an additional $1.84 million in capital from partner CDFIs and financial institutions. Of the loans made, 88% supported Latino entrepreneurs, and 12% supported BIPOC entrepreneurs who were not Latino. Eighty-one percent of these loans went to Twin Cities area businesses, and 19% went to support businesses in Greater Minnesota. Altogether, these loans helped create 110 jobs and retain nearly 100 jobs. 82855 82855 3471734 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 104 0 1 31 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MN X X Henry Jimenez 6127245332 804 Margaret Street Saint Paul MN 55106 Carlos Lamboglia Chair 1.00 X X 0 0 0 Ruben Hidalgo Treasurer 1.00 X X 0 0 0 Eduardo Mozqueda Secretary 1.00 X X 0 0 0 Uri Camarena Director 1.00 X 0 0 0 Christina Jennings Director 1.00 X 0 0 0 Tony Vannicola Director 1.00 X 0 0 0 Ambar Hanson Director 1.00 X 0 0 0 Alex Trevino Director 1.00 X 0 0 0 Carlos Lopez Director 1.00 X 0 0 0 Angela Knudson Director 1.00 X 0 0 0 John Uribe Director 1.00 X 0 0 0 Alileen Sanchez Director 1.00 X 0 0 0 Oliver Perez Director 1.00 X 0 0 0 Henry Jimenez Executive Director 40.00 X 178953 0 21953 178953 0 21953 1 0 1 0 CliftonLarsonAllen LLP 220 S 6th Street Ste 300 Minneapolis MN 55402 Accounting Services 207810 1 269669 1891636 1943878 4853 4105183 Program Fees 900099 120605 120605 120605 148810 148810 348000 0 348000 348000 348000 8640 269669 4708 3932 3932 4726530 617415 0 3932 X 1158750 1158750 200906 148112 36134 16660 917444 686214 154240 76990 223057 144914 61457 16686 84637 58067 20102 6468 18548 18548 245803 125453 120350 473459 243807 210334 19318 113648 76103 28207 9338 224729 214877 6572 3280 47350 35037 9755 2558 27043 14896 9085 3062 97439 96926 513 90647 83622 4686 2339 58349 41846 16503 Scholarship fund 134603 134603 Maintenance and repairs 71475 71007 312 156 Provisions for loan los 58212 58212 Bad debts 56777 38800 17977 188282 156543 27452 4287 4491158 3471734 858282 161142 4262832 3296675 1544097 1628349 726939 894410 2858582 3461930 80924 81137 2909202 846307 2167708 2062895 11641082 11425396 221629 325285 2885 1833 3642736 3514781 1526105 1100398 5393355 4942297 X 2723491 4050334 3524236 2432765 6247727 6483099 11641082 11425396 235372 0 X X 0 1 X 1 1 1 X 726475 1181043 11588164 18840539 4105183 36441404 726475 1181043 11588164 18840539 4105183 36441404 36441404 160650 137999 123714 472197 496810 1391370 37832774 3218855 0.96320 0.96960 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 209450 209450 2167574 341613 1825961 170236 170236 0 342015 314531 27484 19927 19927 0 2062895 Security Deposits 25565 Due to the State of Minnesota 963565 Scholarship Donation Payable 111268 1100398 LSF Golf Tournament 278309 269699 8610 4708 278309 269699 8610 4708 4708 3902 1 Small Business Relief Grant 24 835000 Business Relief Grants 68 323750 Part I, Line 2: Grant funds are monitored through the use of 'Customers' within QuickBooks Online. Each grant is given its own customer, therefore the grants are coded to the customer along with the reimbursement revenue. X X 0 0 0 0 0 0 0 0 0 Henry Jimenez Executive Director 178953 0 0 0 0 0 0 0 21953 0 200906 0 0 0 Form 990, Part VI, Section A, line 6 Members of LEDC can receive technical assistance during the process of starting a new business or during the expansion of one already existing through advisement in the following areas: leasing contracts negotiation, business purchase or rent negotiation, business registration to the Secretary of State, accounting systems establishment, assistance regarding state permits and licenses, assistance during diagram elaboration, internet investigation of providers and distributors, searching for potential providers, and assistance with loan packages. Form 990, Part VI, Section A, line 7a There is only one class of voting rights. All members have one vote. The members elect the members of the governing body. Form 990, Part VI, Section B, line 11b The Finance Committee reviews the Form 990 and presents it to the entire Board of Directors, at which time a vote is taken to approve the Form 990. Form 990, Part VI, Section B, line 12c Board members are required to sign and document annually their understanding and compliance with the written conflict of interest policy. At board meetings, potential for conflict of interest issues are discussed whenever applicable, if necessary. Form 990, Part VI, Section B, line 15a Executive Director salary is discussed and approved by the Board of Directors. The Board of Directors determines compensation based on the latest salary tables, market performance, and employee experience and merit. Form 990, Part VI, Section C, line 19 The 990 is available for review on GuideStar.org additionally, governing documents, conflict on interest polices, and financial statements are available at the Organization's offices upon request. Form 990, Part IX, line 11g Consulting - Business: Program service expenses 39,882. Management and general expenses 38,260. Fundraising expenses 0. Total expenses 78,142. Consulting - Training: Program service expenses 20,400. Management and general expenses 19,570. Fundraising expenses 0. Total expenses 39,970. Consulting - General: Program service expenses 165,940. Management and general expenses 139,872. Fundraising expenses 0. Total expenses 305,812. Consulting - Comm Organizer: Program service expenses 13,168. Management and general expenses 12,632. Fundraising expenses 0. Total expenses 25,800. Loan Processing: Program service expenses 2,942. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,942. Professional Fees - General: Program service expenses 1,475. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,475. Technical Assistance Fees: Program service expenses 0. Management and general expenses 0. Fundraising expenses 19,318. Total expenses 19,318. Form 990, Part XII, Line 2c: The Organization has a Finance Committee that reviews, approves and presents that audited financial statements to the entire Board of Directors for approval. There has been no changes in this process from the prior year. Los Lagos LLC 1501 East Lake Street Lower Level Minneapolis MN 55407 900680336 Commercial rental real estate for Latinos MN 192285 889866 Latino Economic Development Center North Country Produce LLC 1516 E Lake St Suite 201 Minneapolis MN 55407 371756530 Commercial kitchen for program participants MN 91692 38847 Latino Economic Development Center East Side Enterprise Center LLC 798 Margaret Street Saint Paul MN 55106 463309623 Commercial rental real estate MN Latino Economic Development Center Related 72619 410040 0 1 0.50000 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 East Side Enterprise Center LLC K 45869 Cash East Side Enterprise Center LLC D 197173 Cash less allowance