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LATINO ECONOMIC DEVELOPMENT CENTER: Form 990, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
LATINO ECONOMIC DEVELOPMENT CENTER (EIN 51-0467167)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-06-17
IRS object ID
202541689349300029
Schema version
2024v5.1
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2025-06-17T12:55:15-05:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN411397419PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Abdo LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line15201 Eden Avenue Suite 250AddressLine1Txt
CityEdinaCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55436ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2024-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN510467167EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Latino Economic Development CenterBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlLATIBusinessNameControlTxt
Phone6127245332PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1804 Margaret StreetAddressLine1Txt
CitySaint PaulCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55106ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonAlma FloresPersonNm
Person TitleExecutive DirectorPersonTitleTxt
Phone6127245336PhoneNum
Signature2025-06-17SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (1)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonSteven D Anseth CPAPreparerPersonNm
PTINP00552219PTIN
Phone9528359090PhoneNum
Preparation2025-06-02PreparationDt
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerAlma FloresPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1804 Margaret StreetAddressLine1Txt
CitySaint PaulCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55106ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$4,416,527GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website Addresswww.ledcmn.orgWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2003FormationYr
Legal Domicile StateMNLegalDomicileStateCd
Activity Or MissionTo transform our community by creating economic opportunities for Latinos throughout Minnesota.ActivityOrMissionDesc
Voting Members Governing Body14VotingMembersGoverningBodyCnt
Voting Members Independent14VotingMembersIndependentCnt
Total Employee24TotalEmployeeCnt
Total Volunteers23TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$6,428,992PYContributionsGrantsAmt
CY Contributions Grants$3,700,578CYContributionsGrantsAmt
PY Program Service Revenue$368,710PYProgramServiceRevenueAmt
CY Program Service Revenue$310,853CYProgramServiceRevenueAmt
PY Investment Income$231,569PYInvestmentIncomeAmt
CY Investment Income$396,421CYInvestmentIncomeAmt
PY Other Revenue-$38,169PYOtherRevenueAmt
CY Other Revenue-$42,606CYOtherRevenueAmt
PY Total Revenue$6,991,102PYTotalRevenueAmt
CY Total Revenue$4,365,246CYTotalRevenueAmt
PY Grants And Similar Paid$269,500PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$19,500CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$1,258,017PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$1,717,056CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$75,055CYTotalFundraisingExpenseAmt
PY Other Expenses$1,988,799PYOtherExpensesAmt
CY Other Expenses$2,261,122CYOtherExpensesAmt
PY Total Expenses$3,516,316PYTotalExpensesAmt
CY Total Expenses$3,997,678CYTotalExpensesAmt
PY Revenues Less Expenses$3,474,786PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$367,568CYRevenuesLessExpensesAmt
Total Assets BOY$15,421,358TotalAssetsBOYAmt
Total Assets EOY$19,999,593TotalAssetsEOYAmt
Total Liabilities BOY$5,463,473TotalLiabilitiesBOYAmt
Total Liabilities EOY$10,147,902TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$9,957,885NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$9,851,691NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionTo 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.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$609,366ExpenseAmt
Revenue$224,470RevenueAmt
DescLEDC's Lending Program, the only Latino-focused CDFI (Community Development Fund Institution) in Minnesota and the upper Midwest, addresses the significant barriers faced by small businesses in accessing affordable capital. LEDC provides flexible underwriting standards that don't require large personal assets for collateral, and expert navigation through the complexities of capital and small business development. In 2024, LEDC's Lending program worked with clients to approve 31 loans, disbursing $2.7 million in capital and leveraging $2.4 million in capital to help our clients grow their businesses. LEDC has more than 150 active lending clients in our organization's loan portfolio totaling nearly $8 million in capital deployed to support small business growth in Minnesota.Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

FieldValueIRS element (for citing)
Expense$1,598,714ExpenseAmt
Grant$19,500GrantAmt
Revenue$413,429RevenueAmt
DescLEDC's Business Development Program helps entrepreneurs prepare to launch or grow their business, including communications and marketing, budgeting, digital literacy, commercial insurance, taxation, and other areas of technical assistance. Our Business Development associates guide each member in creating their business plan and provide access to resources and education needed to meet their goals. Through direct support and referrals to specialized service providers, we support clients with their needs in finance, legal issues, technology, information technology (IT), human resources (HR) issues, and industry-specific regulations. Last year, LEDC's Business Development program supported more than 700 aspiring entrepreneurs and small business owners through business development workshops and one-on-one business consulting provided in Spanish and English.Desc

Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp

FieldValueIRS element (for citing)
Expense$393,049ExpenseAmt
Revenue$31,413RevenueAmt
DescLEDC's Agriculture Program, an extension of our Business Development program with a technical focus on the agricultural sector, provides technical assistance, business development, and access to affordable capital and markets that help beginning and established farmers and entrepreneurs start new farming or food production enterprises or grow their existing farm businesses. Additional services include Organic and GAP certification and navigating the complex system of government agriculture programs. Throughout 2024, LEDC's Agriculture program provided technical assistance to 96 farmers and agriculture-focused businesses and supported businesses with closing three loans deploying a total of $580,000 of capital.Desc

Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp

FieldValueIRS element (for citing)
Expense$3,918ExpenseAmt
FieldValueIRS element (for citing)
Total Other Prog Srvc Expense$3,918TotalOtherProgSrvcExpenseAmt
Total Program Service Expenses$2,605,047TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B RequiredYes (1)ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 Footnote0IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtYes (1)ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising ActivitiesYes (1)FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To IndividualsYes (1)GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded EntityYes (1)DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document58IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee24EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members14GoverningBodyVotingMembersCnt
Independent Voting Member14IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or StockholdersYes (1)MembersOrStockholdersInd
Election Of Board MembersYes (1)ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldMNStatesWhereCopyOfReturnIsFldCd
Other WebsiteYes (X)OtherWebsiteInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Alma FloresBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone6127245332PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1804 Margaret StreetAddressLine1Txt
CitySaint PaulCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55106ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (17 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
Carlos Lopez
Board Chair1.00Yes (X)Yes (X)$0$0$0
Uri Camarena
Secretary1.00Yes (X)Yes (X)$0$0$0
Ruben Hidalgo
Treasurer1.00Yes (X)Yes (X)$0$0$0
Angela Knudson
Director1.00Yes (X)$0$0$0
Eduardo Mozqueda
Director1.00Yes (X)$0$0$0
Tony Vannicola
Director1.00Yes (X)$0$0$0
Carlos Lamboglia
Director1.00Yes (X)$0$0$0
Vanessa Butler
Director1.00Yes (X)$0$0$0
Jennifer Carlson
Director1.00Yes (X)$0$0$0
Linda Correa Bates
Director1.00Yes (X)$0$0$0
Ambar Cristina Hanson
Director1.00Yes (X)$0$0$0
Alejandro Trevino
Director1.00Yes (X)$0$0$0
John Uribe
Director1.00Yes (X)$0$0$0
Jeremy Wermerskirchen
Director1.00Yes (X)$0$0$0
Henry Jimenez
Past Executive Director40.00Yes (X)$34,615$0$4,089
Jose Camarena-Michel
Interim Executive Director40.00Yes (X)$108,000$0$18,875
Alma Flores
Executive Director40.00Yes (X)$45,015$0$2,691
FieldValueIRS element (for citing)
Total Reportable Comp From Org$187,630TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$25,655TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K2IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (3 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
CliftonLarsonAllen LLP
220 S 6th Street Ste 300MinneapolisMN55402Accounting Services$319,527
Lunning Wende
275 East 4th Street St 620St PaulMN55101Architect Services$175,271
Craftsman Technology Group LLC
186 Lincoln St Ste 500BostonMA02111Customer Relationship Management Solutio$102,895
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K3CntrctRcvdGreaterThan100KCnt
Fundraising$51,950FundraisingAmt
Government Grants$2,733,196GovernmentGrantsAmt
All Other Contributions$915,432AllOtherContributionsAmt
Total Contributions$3,700,578TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (2 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
Program rent900099$260,553$260,553
Loan closing fees900099$50,300$50,300
FieldValueIRS element (for citing)
Total Program Service Revenue$310,853TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$396,421TotalRevenueColumnAmt
Related Or Exempt Func Income$358,459RelatedOrExemptFuncIncomeAmt
Exclusion$37,962ExclusionAmt
FieldValueIRS element (for citing)
Fundraising Gross Income$8,675FundraisingGrossIncomeAmt
Contri Rpt Fundraising Event$51,950ContriRptFundraisingEventAmt
Fundraising Direct Expenses$51,281FundraisingDirectExpensesAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

FieldValueIRS element (for citing)
Total Revenue Column-$42,606TotalRevenueColumnAmt
Exclusion-$42,606ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$4,365,246TotalRevenueColumnAmt
Related Or Exempt Func Income$669,312RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion-$4,644ExclusionAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

FieldValueIRS element (for citing)
Total$19,500TotalAmt
Program Services$19,500ProgramServicesAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$213,286TotalAmt
Program Services$157,320ProgramServicesAmt
Management And General$46,682ManagementAndGeneralAmt
Fundraising$9,284FundraisingAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$1,127,861TotalAmt
Program Services$852,539ProgramServicesAmt
Management And General$235,427ManagementAndGeneralAmt
Fundraising$39,895FundraisingAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$273,526TotalAmt
Program Services$180,152ProgramServicesAmt
Management And General$84,541ManagementAndGeneralAmt
Fundraising$8,833FundraisingAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$102,383TotalAmt
Program Services$74,625ProgramServicesAmt
Management And General$24,106ManagementAndGeneralAmt
Fundraising$3,652FundraisingAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$21,711TotalAmt
Program Services$12,062ProgramServicesAmt
Management And General$9,644ManagementAndGeneralAmt
Fundraising$5FundraisingAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$383,793TotalAmt
Program Services$104,159ProgramServicesAmt
Management And General$279,634ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$366,485TotalAmt
Program Services$104,234ProgramServicesAmt
Management And General$262,249ManagementAndGeneralAmt
Fundraising$2FundraisingAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$337,062TotalAmt
Program Services$95,519ProgramServicesAmt
Management And General$241,394ManagementAndGeneralAmt
Fundraising$149FundraisingAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$124,918TotalAmt
Program Services$95,461ProgramServicesAmt
Management And General$29,457ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$56,018TotalAmt
Program Services$38,393ProgramServicesAmt
Management And General$17,235ManagementAndGeneralAmt
Fundraising$390FundraisingAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$28,188TotalAmt
Program Services$15,247ProgramServicesAmt
Management And General$12,277ManagementAndGeneralAmt
Fundraising$664FundraisingAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$139,163TotalAmt
Program Services$137,003ProgramServicesAmt
Management And General$2,160ManagementAndGeneralAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$72,807TotalAmt
Program Services$47,149ProgramServicesAmt
Management And General$25,658ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$165,638TotalAmt
Program Services$148,185ProgramServicesAmt
Management And General$17,453ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmtFundraisingFundraisingAmt
Provisions for loan los$385,465$385,465
Miscellaneous$52,176$36,561$15,615
Maintenance and repairs$41,707$41,707
Bad debts$35,989$29,381$826$5,782

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$50,002TotalAmt
Program Services$30,385ProgramServicesAmt
Management And General$13,218ManagementAndGeneralAmt
Fundraising$6,399FundraisingAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$3,997,678TotalAmt
Program Services$2,605,047ProgramServicesAmt
Management And General$1,317,576ManagementAndGeneralAmt
Fundraising$75,055FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$5,217,240BOYAmt
EOY$6,308,267EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
BOY$2,711,595BOYAmt
EOY$2,015,696EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$59,817BOYAmt
EOY$67,086EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

FieldValueIRS element (for citing)
BOY$5,154,080BOYAmt
EOY$6,633,964EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$64,346BOYAmt
EOY$68,479EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$3,649,451LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$749,338LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$2,214,280BOYAmt
EOY$2,900,113EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
EOY$2,005,988EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$15,421,358BOYAmt
EOY$19,999,593EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$277,587BOYAmt
EOY$626,806EOYAmt

Deferred Revenue DeferredRevenueGrp

FieldValueIRS element (for citing)
BOY$1,767BOYAmt
EOY$1,200EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$4,437,342BOYAmt
EOY$8,218,091EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$746,777BOYAmt
EOY$1,301,805EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$5,463,473BOYAmt
EOY$10,147,902EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$4,892,347BOYAmt
EOY$7,051,583EOYAmt

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$5,065,538BOYAmt
EOY$2,800,108EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$9,957,885BOYAmt
EOY$9,851,691EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$15,421,358BOYAmt
EOY$19,999,593EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$367,568ReconcilationRevenueExpnssAmt
Prior Period Adjustments-$473,762PriorPeriodAdjustmentsAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Info In Schedule O Part XIIYes (X)InfoInScheduleOPartXIIInd
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Consolidated Basis Fincl StmtYes (X)ConsolidatedBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit RequiredYes (1)FederalGrantAuditRequiredInd
Federal Grant Audit PerformedYes (1)FederalGrantAuditPerformedInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Public Organization170Yes (X)PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$11,588,164CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$18,840,539CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$4,105,183CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$6,428,992CurrentTaxYearMinus1YearAmt
Current Tax Year$3,700,578CurrentTaxYearAmt
Total$44,663,456TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$11,588,164CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$18,840,539CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$4,105,183CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$6,428,992CurrentTaxYearMinus1YearAmt
Current Tax Year$3,700,578CurrentTaxYearAmt
Total$44,663,456TotalAmt
FieldValueIRS element (for citing)
Public Support Total170$44,663,456PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$123,714CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$472,197CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$496,810CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$521,474CurrentTaxYearMinus1YearAmt
Current Tax Year$728,747CurrentTaxYearAmt
Total$2,342,942TotalAmt
FieldValueIRS element (for citing)
Total Support$47,006,398TotalSupportAmt
Gross Receipts Rltd Activities$490,497GrossReceiptsRltdActivitiesAmt
Public Support CY1700.95020PublicSupportCY170Pct
Public Support PY1700.95810PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests CY170Yes (X)ThirtyThrPctSuprtTestsCY170Ind

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule D IRS990ScheduleD

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$209,450OtherCostOrOtherBasisAmt
Book Value$209,450BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$3,116,754OtherCostOrOtherBasisAmt
Depreciation$464,393DepreciationAmt
Book Value$2,652,361BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$323,247OtherCostOrOtherBasisAmt
Depreciation$284,945DepreciationAmt
Book Value$38,302BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$2,900,113TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)

DescDescAmtAmt
Security Deposits$21,515
Due to the State of Minnesota$1,280,290
FieldValueIRS element (for citing)
Total Liability$1,301,805TotalLiabilityAmt

Schedule G IRS990ScheduleG

Fundraising Event Information FundraisingEventInformationGrp

FieldValueIRS element (for citing)
Event1LSF Golf TournamentEvent1Nm
Gross Receipts Event1$40,625GrossReceiptsEvent1Amt
Charitable Contri Event1$31,950CharitableContriEvent1Amt
Gross Revenue Event1$8,675GrossRevenueEvent1Amt
Non Cash Prizes Event1$4,326NonCashPrizesEvent1Amt
Rent Facility Costs Event1$8,999RentFacilityCostsEvent1Amt
Food And Beverage Event1$4,389FoodAndBeverageEvent1Amt
Entertainment Event1$960EntertainmentEvent1Amt
Other Direct Expenses Event1$13,009OtherDirectExpensesEvent1Amt
Event2Taco TourEvent2Nm
Gross Receipts Event2$20,000GrossReceiptsEvent2Amt
Charitable Contri Event2$20,000CharitableContriEvent2Amt
Entertainment Event2$1,930EntertainmentEvent2Amt
Other Direct Expenses Event2$17,667OtherDirectExpensesEvent2Amt
Gross Receipts Total$60,625GrossReceiptsTotalAmt
Charitable Contributions Tot$51,950CharitableContributionsTotAmt
Gross Revenue Total Events$8,675GrossRevenueTotalEventsAmt
Non Cash Prizes Total Events$4,326NonCashPrizesTotalEventsAmt
Rent Fclty Costs Total Events$8,999RentFcltyCostsTotalEventsAmt
Food And Beverage Total Events$4,389FoodAndBeverageTotalEventsAmt
Entertainment Total Events$2,890EntertainmentTotalEventsAmt
Oth Direct Expnss Total Events$30,676OthDirectExpnssTotalEventsAmt
Direct Expense Summary Events$51,280DirectExpenseSummaryEventsAmt
Net Income Summary-$42,605NetIncomeSummaryAmt

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (1)GrantRecordsMaintainedInd

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp

FieldValueIRS element (for citing)
Grant TypeBusiness Relief GrantsGrantTypeTxt
Recipient7RecipientCnt
Cash Grant$19,500CashGrantAmt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePart I, Line 2:FormAndLineReferenceDesc
ExplanationGrant 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.ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (7 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Form 990, Part VI, Section A, line 6Members 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 7aThere is only one class of voting rights. All members have one vote. The members elect the directors of the governing body.
Form 990, Part VI, Section B, line 11bThe 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 12cBoard 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 15aExecutive 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 19The 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 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.

Schedule R IRS990ScheduleR

Id Disregarded Entities IdDisregardedEntitiesGrp

Disregarded Entity Name DisregardedEntityName

FieldValueIRS element (for citing)
Business Name Line1North Country Produce LLCBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line11516 E Lake St Suite 201AddressLine1Txt
CityMinneapolisCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55407ZIPCd
FieldValueIRS element (for citing)
EIN371756530EIN
Primary ActivitiesCommercial kitchen for program participantsPrimaryActivitiesTxt
Legal Domicile StateMNLegalDomicileStateCd
Total Income$974TotalIncomeAmt
End Of Year Assets$1,836EndOfYearAssetsAmt

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1Latino Economic Development CenterBusinessNameLine1Txt

Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp

Related Organization Name RelatedOrganizationName

FieldValueIRS element (for citing)
Business Name Line1East Side Enterprise Center LLCBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1798 Margaret StreetAddressLine1Txt
CitySaint PaulCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55106ZIPCd
FieldValueIRS element (for citing)
EIN463309623EIN
Primary ActivitiesCommercial rental real estatePrimaryActivitiesTxt
Legal Domicile StateMNLegalDomicileStateCd

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1Latino Economic Development CenterBusinessNameLine1Txt
FieldValueIRS element (for citing)
Predominant Income TypeRelatedPredominantIncomeTypeTxt
Share Of Total Income$75,985ShareOfTotalIncomeAmt
Share Of EOY Assets$402,114ShareOfEOYAssetsAmt
Disproportionate Allocations0DisproportionateAllocationsInd
General Or Managing PartnerYes (1)GeneralOrManagingPartnerInd
Ownership0.50000OwnershipPct
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts Rylts0ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth Org0GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org0GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other OrgYes (1)LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org0LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth Org0RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth OrgYes (1)RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org0PerformOfServicesForOthOrgInd
Perform Of Services By Other Org0PerformOfServicesByOtherOrgInd
Sharing Of Facilities0SharingOfFacilitiesInd
Paid Employees Sharing0PaidEmployeesSharingInd
Reimbursement Paid To Other Org0ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org0ReimbursementPaidByOtherOrgInd
Transfer To Other Org0TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd

Transactions Related Org TransactionsRelatedOrgGrp (2 entries)

Transaction TypeTransactionTypeTxtInvolvedInvolvedAmtMethod Of Amount DeterminationMethodOfAmountDeterminationTxt
East Side Enterprise Center LLC
D$185,173Cash less allowance
East Side Enterprise Center LLC
K$33,437Cash