2025-06-17T12:55:15-05:00 2024-12-31 411397419 Abdo LLP 5201 Eden Avenue Suite 250 Edina MN 55436 990 2024-01-01 510467167 Latino Economic Development Center LATI 6127245332 804 Margaret Street Saint Paul MN 55106 Alma Flores Executive Director 6127245336 2025-06-17 1 1 Steven D Anseth CPA P00552219 9528359090 2025-06-02 2024 2025-03-06 01:10:19Z Alma Flores 804 Margaret Street Saint Paul MN 55106 4416527 0 X www.ledcmn.org X 2003 MN To transform our community by creating economic opportunities for Latinos throughout Minnesota. 14 14 24 23 0 0 6428992 3700578 368710 310853 231569 396421 -38169 -42606 6991102 4365246 269500 19500 0 0 1258017 1717056 0 0 75055 1988799 2261122 3516316 3997678 3474786 367568 15421358 19999593 5463473 10147902 9957885 9851691 X 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 609366 224470 LEDC'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. 1598714 19500 413429 LEDC'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. 393049 31413 LEDC'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. 3918 3918 2605047 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 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 58 0 1 24 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MN X X Alma Flores 6127245332 804 Margaret Street Saint Paul MN 55106 Carlos Lopez Board Chair 1.00 X X 0 0 0 Uri Camarena Secretary 1.00 X X 0 0 0 Ruben Hidalgo Treasurer 1.00 X X 0 0 0 Angela Knudson Director 1.00 X 0 0 0 Eduardo Mozqueda Director 1.00 X 0 0 0 Tony Vannicola Director 1.00 X 0 0 0 Carlos Lamboglia Director 1.00 X 0 0 0 Vanessa Butler Director 1.00 X 0 0 0 Jennifer Carlson Director 1.00 X 0 0 0 Linda Correa Bates Director 1.00 X 0 0 0 Ambar Cristina Hanson Director 1.00 X 0 0 0 Alejandro Trevino Director 1.00 X 0 0 0 John Uribe Director 1.00 X 0 0 0 Jeremy Wermerskirchen Director 1.00 X 0 0 0 Henry Jimenez Past Executive Director 40.00 X 34615 0 4089 Jose Camarena-Michel Interim Executive Director 40.00 X 108000 0 18875 Alma Flores Executive Director 40.00 X 45015 0 2691 187630 0 25655 2 0 0 0 CliftonLarsonAllen LLP 220 S 6th Street Ste 300 Minneapolis MN 55402 Accounting Services 319527 Lunning Wende 275 East 4th Street St 620 St Paul MN 55101 Architect Services 175271 Craftsman Technology Group LLC 186 Lincoln St Ste 500 Boston MA 02111 Customer Relationship Management Solutio 102895 3 51950 2733196 915432 3700578 Program rent 900099 260553 260553 Loan closing fees 900099 50300 50300 310853 396421 358459 37962 8675 51950 51281 -42606 -42606 4365246 669312 0 -4644 19500 19500 213286 157320 46682 9284 1127861 852539 235427 39895 273526 180152 84541 8833 102383 74625 24106 3652 21711 12062 9644 5 383793 104159 279634 366485 104234 262249 2 337062 95519 241394 149 124918 95461 29457 56018 38393 17235 390 28188 15247 12277 664 139163 137003 2160 72807 47149 25658 165638 148185 17453 Provisions for loan los 385465 385465 Miscellaneous 52176 36561 15615 Maintenance and repairs 41707 41707 Bad debts 35989 29381 826 5782 50002 30385 13218 6399 3997678 2605047 1317576 75055 5217240 6308267 2711595 2015696 59817 67086 5154080 6633964 64346 68479 3649451 749338 2214280 2900113 2005988 15421358 19999593 277587 626806 1767 1200 4437342 8218091 746777 1301805 5463473 10147902 X 4892347 7051583 5065538 2800108 9957885 9851691 15421358 19999593 367568 -473762 0 X X 0 1 X 1 1 1 X 11588164 18840539 4105183 6428992 3700578 44663456 11588164 18840539 4105183 6428992 3700578 44663456 44663456 123714 472197 496810 521474 728747 2342942 47006398 490497 0.95020 0.95810 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 209450 209450 3116754 464393 2652361 323247 284945 38302 2900113 Security Deposits 21515 Due to the State of Minnesota 1280290 1301805 LSF Golf Tournament 40625 31950 8675 4326 8999 4389 960 13009 Taco Tour 20000 20000 1930 17667 60625 51950 8675 4326 8999 4389 2890 30676 51280 -42605 1 Business Relief Grants 7 19500 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. 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 directors 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 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. North Country Produce LLC 1516 E Lake St Suite 201 Minneapolis MN 55407 371756530 Commercial kitchen for program participants MN 974 1836 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 75985 402114 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 D 185173 Cash less allowance East Side Enterprise Center LLC K 33437 Cash