LATINO ECONOMIC DEVELOPMENT CENTER: Form 990, tax year 2016

View the entire original 990 at ProPublica ↗

Organization
LATINO ECONOMIC DEVELOPMENT CENTER (EIN 51-0467167)
Tax period
2016-01-01 to 2016-12-31
Filed
2017-11-14
IRS object ID
201743189349305099
Schema version
2016v3.0
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)
Return2017-11-14T11:16:57-06:00ReturnTs
Tax Period End2016-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN411647057PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1MahoneyUlbrichChristiansen & Russ PABusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line110 River Park Plaza Suite 800AddressLine1Txt
CitySaint PaulCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55107ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2016-01-01TaxPeriodBeginDt

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
Phone6127245336PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11501 E Lake Street Lower LevelAddressLine1Txt
CityMINNEAPOLISCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55407ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonRAMON LEONPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone6127245336PhoneNum
Signature2017-11-14SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonLance J BrockPreparerPersonNm
PTINP01919631PTIN
Phone6512276695PhoneNum
Preparation2017-11-14PreparationDt

Filing Security Information FilingSecurityInformation

IP Address IPAddress

FieldValueIRS element (for citing)
I Pv4 Address173.160.107.97IPv4AddressTxt
FieldValueIRS element (for citing)
IP2017-11-14IPDt
IP Tm10:24:00IPTm
IP TimezoneCSIPTimezoneCd
Filing License TypePFilingLicenseTypeCd
At Submission Creation Device IdDA39A3EE5E6B4B0D3255BFEF95601890AFD80709AtSubmissionCreationDeviceId
At Submission Filing Device Id8FCC0AE5B5C62EA2E1ECCE65A8D774828604CBA2AtSubmissionFilingDeviceId
FieldValueIRS element (for citing)
Tax2016TaxYr
Build TS2017-02-10 21:41:12ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerRAMON LEONPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line11501 E Lake Street Lower LevelAddressLine1Txt
CityMINNEAPOLISCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55407ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$3,058,755GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website Addresswww.ledc-mn.orgWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2003FormationYr
Legal Domicile StateMNLegalDomicileStateCd
Activity Or MissionTO TRANSFORM OUR COMMUNITY BY CREATING ECONOMIC OPPORTUNITY FOR LATINOS.ActivityOrMissionDesc
Voting Members Governing Body12VotingMembersGoverningBodyCnt
Voting Members Independent12VotingMembersIndependentCnt
Total Employee15TotalEmployeeCnt
Total Volunteers16TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$2,137,047PYContributionsGrantsAmt
CY Contributions Grants$2,555,553CYContributionsGrantsAmt
PY Program Service Revenue$363,988PYProgramServiceRevenueAmt
CY Program Service Revenue$503,202CYProgramServiceRevenueAmt
PY Investment Income$0PYInvestmentIncomeAmt
CY Investment Income$0CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$2,501,035PYTotalRevenueAmt
CY Total Revenue$3,058,755CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$806,620PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$798,466CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$71,561CYTotalFundraisingExpenseAmt
PY Other Expenses$1,343,175PYOtherExpensesAmt
CY Other Expenses$1,535,306CYOtherExpensesAmt
PY Total Expenses$2,149,795PYTotalExpensesAmt
CY Total Expenses$2,333,772CYTotalExpensesAmt
PY Revenues Less Expenses$351,240PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$724,983CYRevenuesLessExpensesAmt
Total Assets BOY$5,246,410TotalAssetsBOYAmt
Total Assets EOY$5,823,536TotalAssetsEOYAmt
Total Liabilities BOY$3,475,608TotalLiabilitiesBOYAmt
Total Liabilities EOY$3,333,643TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$1,770,802NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$2,489,893NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionTO TRANSFORM OUR COMMUNITY BY CREATING ECONOMIC OPPORTUNITY FOR LATINOS.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$1,444,944ExpenseAmt
Revenue$395,401RevenueAmt
DescBUSINESS DEVELOPMENT - Through its monthly business orientation sessions, LEDC provided information to entrepreneurs on the basics of starting a business feasibility steps, how LEDC can assist in the process, and the benefits of becoming a member of LEDC. Through LEDC micro-entrepreneur trainings, there is a session that provides information on how to prepare for a business loan either through LEDC, a traditional lender (i.e. a bank), or a non-traditional lender (i.e another community development non-profit organization). Over 475 hours of technical assistance were provided to start-up and existing businesses. LEDC continued providing services to small businesses in rural communities and continued to promote agricultural cooperative business development among immigrant vegetable growers, providing services to both individual Latino farmers, farmers in cooperatives, and prospective farmers. LEDC reached over 50 individuals interested in farming. LEDC also worked to support a multicultural agricultural marketing cooperative which included Latino and non-Latino farmers working together to pool resources and land accounts they could not achieve on their own. LEDC expanded its reach into Southern Minnesota, with clients as far away as New Ulm and Rochester, opening its new office in Austin. LEDC provided technical assistance to 5 businesses and 3 start ups and started processing 4 loans. Thanks to our work developing rural ares, LEDC was invited to present as part of the White House Rural Council.Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

FieldValueIRS element (for citing)
Expense$177,851ExpenseAmt
Revenue$25,767RevenueAmt
DescEDUCATION AND TRAINING - Latino Academy TTOIC, a workforce training program of LEDC, empowers individuals by combining adult basic education and job readiness. The work areas of the curriculum are: business training, workforce development, GED preparation, and certifications. The Latino Academy TTOIC served 353 clients, helped 49 job seekers find a new job, educated 40 full time GED students, and had it's first three GED graduates, with more in process.ledc, through its latino scholarship fund, awarded eleven scholarships in 2016.Desc

Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp

FieldValueIRS element (for citing)
Expense$96,333ExpenseAmt
Revenue$82,034RevenueAmt
DescLENDING PROGRAMS - ThirtEEN loans were packaged and approved, totaling $300,000; funds for these loans came from LEDC's loan pool; nine loans were reapid, totaling $55,000, an additional amount was leveraged with these funds from local banks and community lenders. LEDC continued a program in partnership with Mission Asset Fund of California called "Lending Circles." Lending Circles are zero-fee, zero-interest credit-building social loans. Borrowers become lenders and lenders become borrowers; a collective monthly savings became a loan for a participant. Every month the savings are reported as a loan payment to the credit bureau.Desc
FieldValueIRS element (for citing)
Total Program Service Expenses$1,719,128TotalProgramServiceExpensesAmt
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
Temp Or Permanent Endowments0TempOrPermanentEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
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 Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
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 MemYes (1)BusinessRlnWithFamMemInd
Business Rln With Officer Ent0BusinessRlnWithOfficerEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document37IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee15EmployeeCnt
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
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members12GoverningBodyVotingMembersCnt
Independent Voting Member12IndependentVotingMemberCnt
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 CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldMNStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1RAMON LEONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone6127245336PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11516 EAST LAKE STREET STE 201AddressLine1Txt
CityMinneapolisCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55407ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (13 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtOfficerOfficerInd
Lorenzo Ariza
Director1.00Yes (X)$0$0$0
Maria Boyle
Vice Chair1.00Yes (X)$0$0$0Yes (X)
Juan Cervantes
Co-chair1.00Yes (X)$0$0$0Yes (X)
Susana De Leon
Director1.00Yes (X)$0$0$0
Umi Camarena
Secretary1.00Yes (X)$0$0$0Yes (X)
Norma Garces
Director1.00Yes (X)$0$0$0
Andre Goodlet
Director1.00Yes (X)$0$0$0
Thomas Pantalion
Director1.00Yes (X)$0$0$0
Christopher Romano
Treasurer1.00Yes (X)$0$0$0Yes (X)
Rose Lindsay
Co-chair1.00Yes (X)$0$0$0Yes (X)
Iris Ramos
Director1.00Yes (X)$0$0$0
RAMON LEON
President and CEO40.00$116,081$0$22,040Yes (X)
MARIO HERNANDEZ
VICE PRESIDENT AND COO40.00$70,008$0$4,009Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$186,089TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$26,049TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K1IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt
Government Grants$1,601,468GovernmentGrantsAmt
All Other Contributions$954,085AllOtherContributionsAmt
Total Contributions$2,555,553TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (5 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
RENTAL INCOME532000$363,171$363,171
interest on loans900099$82,034$82,034
OTHER INCOME900099$30,480$30,480
PROGRAM FEES900099$25,767$25,767
MEMBERSHIP DUES900099$1,750$1,750
FieldValueIRS element (for citing)
Total Program Service Revenue$503,202TotalProgramServiceRevenueAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$3,058,755TotalRevenueColumnAmt
Related Or Exempt Func Income$503,202RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt
FieldValueIRS element (for citing)
Info In Schedule O Part IXYes (X)InfoInScheduleOPartIXInd

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$212,138TotalAmt
Program Services$23,389ProgramServicesAmt
Management And General$155,326ManagementAndGeneralAmt
Fundraising$33,423FundraisingAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$404,176TotalAmt
Program Services$383,583ProgramServicesAmt
Management And General$13,433ManagementAndGeneralAmt
Fundraising$7,160FundraisingAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$4,461TotalAmt
Program Services$3,078ProgramServicesAmt
Management And General$1,115ManagementAndGeneralAmt
Fundraising$268FundraisingAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$125,521TotalAmt
Program Services$103,080ProgramServicesAmt
Management And General$17,768ManagementAndGeneralAmt
Fundraising$4,673FundraisingAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$52,170TotalAmt
Program Services$35,706ProgramServicesAmt
Management And General$13,282ManagementAndGeneralAmt
Fundraising$3,182FundraisingAmt

Fees For Services Management FeesForServicesManagementGrp

FieldValueIRS element (for citing)
Total$3,500TotalAmt
Program Services$3,500ProgramServicesAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$31,134TotalAmt
Program Services$5,224ProgramServicesAmt
Management And General$25,910ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$108,467TotalAmt
Program Services$12,244ProgramServicesAmt
Management And General$96,223ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$597,721TotalAmt
Program Services$548,057ProgramServicesAmt
Management And General$26,809ManagementAndGeneralAmt
Fundraising$22,855FundraisingAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$54,099TotalAmt
Program Services$17,448ProgramServicesAmt
Management And General$36,651ManagementAndGeneralAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$217,817TotalAmt
Program Services$128,112ProgramServicesAmt
Management And General$89,705ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$48,488TotalAmt
Program Services$42,425ProgramServicesAmt
Management And General$6,063ManagementAndGeneralAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$21,735TotalAmt
Program Services$15,588ProgramServicesAmt
Management And General$6,147ManagementAndGeneralAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$112,211TotalAmt
Program Services$112,211ProgramServicesAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$103,446TotalAmt
Program Services$82,910ProgramServicesAmt
Management And General$20,536ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$27,045TotalAmt
Program Services$19,863ProgramServicesAmt
Management And General$7,182ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmt
PROGRAM SUPPLIES AND EQ$88,882$88,053$829
Scholarship Transfer$57,724$57,724
Maintenance and repairs$34,971$34,971
Bad Debt$19,833$19,833

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$8,233TotalAmt
Program Services-$17,871ProgramServicesAmt
Management And General$26,104ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$2,333,772TotalAmt
Program Services$1,719,128ProgramServicesAmt
Management And General$543,083ManagementAndGeneralAmt
Fundraising$71,561FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$889,854BOYAmt
EOY$873,452EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
BOY$480,131BOYAmt
EOY$1,246,795EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$61,405BOYAmt
EOY$4,750EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

FieldValueIRS element (for citing)
BOY$1,196,466BOYAmt
EOY$1,196,511EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$17,587BOYAmt
EOY$18,864EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$2,626,166LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$377,317LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$2,350,303BOYAmt
EOY$2,248,849EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

FieldValueIRS element (for citing)
BOY$250,664BOYAmt
EOY$234,315EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$5,246,410BOYAmt
EOY$5,823,536EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$119,312BOYAmt
EOY$239,827EOYAmt

Deferred Revenue DeferredRevenueGrp

FieldValueIRS element (for citing)
BOY$202,032BOYAmt
EOY$5,900EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$2,886,048BOYAmt
EOY$2,831,600EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$268,216BOYAmt
EOY$256,316EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$3,475,608BOYAmt
EOY$3,333,643EOYAmt
FieldValueIRS element (for citing)
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

FieldValueIRS element (for citing)
BOY$336,592BOYAmt
EOY-$472,214EOYAmt

Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp

FieldValueIRS element (for citing)
BOY$1,434,210BOYAmt
EOY$2,962,107EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$1,770,802BOYAmt
EOY$2,489,893EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$5,246,410BOYAmt
EOY$5,823,536EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss$724,983ReconcilationRevenueExpnssAmt
Other Changes In Net Assets-$5,892OtherChangesInNetAssetsAmt
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$1,125,004CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$1,379,757CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$2,103,002CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$2,140,717CurrentTaxYearMinus1YearAmt
Current Tax Year$2,557,303CurrentTaxYearAmt
Total$9,305,783TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$1,125,004CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$1,379,757CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$2,103,002CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$2,140,717CurrentTaxYearMinus1YearAmt
Current Tax Year$2,557,303CurrentTaxYearAmt
Total$9,305,783TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$612,780SubstantialContributorsTotAmt
Public Support Total170$8,693,003PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$607CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$5,386CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$16,489CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$42,436CurrentTaxYearMinus1YearAmt
Current Tax Year$82,034CurrentTaxYearAmt
Total$146,952TotalAmt
FieldValueIRS element (for citing)
Total Support$9,452,735TotalSupportAmt
Gross Receipts Rltd Activities$1,314,934GrossReceiptsRltdActivitiesAmt
Public Support CY1700.91960PublicSupportCY170Pct
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$313,608OtherCostOrOtherBasisAmt
Book Value$313,608BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$1,809,928OtherCostOrOtherBasisAmt
Depreciation$135,785DepreciationAmt
Book Value$1,674,143BookValueAmt

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$235,770OtherCostOrOtherBasisAmt
Depreciation$52,904DepreciationAmt
Book Value$182,866BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$266,860OtherCostOrOtherBasisAmt
Depreciation$188,628DepreciationAmt
Book Value$78,232BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$2,248,849TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)

DescDescAmtAmt
SECURITY DEPOSITS$19,375
due to the state of Minnesota$193,250
SCHOLARSHIP DONATION PAYABLE$43,691
FieldValueIRS element (for citing)
Total Liability$256,316TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePart X, Line 2:FormAndLineReferenceDesc
ExplanationLEDC is exempt from income taxes under Internal Revenue Code Section 501(c)(3) and applicable Minnesota Statutes, except to the extent it has taxable income from businesses that are not related to its exempt purpose. Management believes LEDC did not have any unrelated business income. Los Lagos, LLC and Northcountry Produce, LLC are single member LLC's. Single member LLC's are disregarded for income tax reporting, accordingly, their activity is included in LEDC's income tax return. The Company is not currently under examination by any taxing jurisdiction. Federal and state tax authorities generally have the right to examine returns for a period of three years after they are filed.ExplanationTxt

Schedule L IRS990ScheduleL

Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (2 entries)

Relationship DescriptionRelationshipDescriptionTxtTransactionTransactionAmtTransactionTransactionDescSharing Of RevenuesSharingOfRevenuesInd
SMALL BUSINESS SUPPORT SERVICES
OWNED BY A FAMILY MEMBER OF THE EXECUTIVE DIRECTOR AT LEDC$48,080Bookkeeping services and other consulting services for LEDC are provided by Small Business Support Services, which is owned by a family member of the Executive Director of LEDC.0
F&F Janitorial
OWNED BY BOARD MEMBER (BUSINESS MEMBER OF LEDC)$6,867janitorial and custodial services0

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (8 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 members 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 C, line 19THE 990 IS AVAILABLE FOR REVIEW ON GUIDESTAR.COM. ADDITIONALLY, GOVERNING DOCUMENTS, CONFLICT ON INTEREST POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE AT THE ORGANIZATION'S OFFICES UPON REQUEST.
Form 990, Part IX, line 11gconsultant: Program service expenses 548,057. Management and general expenses 26,809. Fundraising expenses 22,855. Total expenses 597,721.
Form 990, Part XI, line 9:EQUITY IN INVESTMENT INCOME -5,892.
Form 990, Part XII Line 2CTHE ORGANIZATION HAS A FINANCE COMMITTEE THAT REVIEWS, APPROVES AND PRESENTS THE AUDITED FINANCIAL STATEMENTS TO THE ENTIRE BOARD OF DIRECTORS FOR APPROVAL. THERE HAVE BEEN NO CHANGES IN THIS PROCESS FROM PRIOR YEARS.

Schedule R IRS990ScheduleR

Id Disregarded Entities IdDisregardedEntitiesGrp (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdTotal IncomeTotalIncomeAmtEnd Of Year AssetsEndOfYearAssetsAmtDirect Controlling NADirectControllingNACd
LOS LAGOS LLC
1501 east lake street lower levelMINNEAPOLISMN55407900680336COMMERCIAL RENTAL REAL ESTATE FOR LATINOSMN$166,997$827,153N/A
NORTHCOUNTRY PRODUCE LLC
1516 E LAKE ST SUITE 201MINNEAPOLISMN55407371756530commercial kitchen for program participantsMN$104,301$174,517N/A

Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdBusiness Name Line1DirectControllingEntityName/BusinessNameLine1TxtPredominant Income TypePredominantIncomeTypeTxtShare Of Total IncomeShareOfTotalIncomeAmtDisproportionate AllocationsDisproportionateAllocationsIndGeneral Or Managing PartnerGeneralOrManagingPartnerIndOwnershipOwnershipPctShare Of EOY AssetsShareOfEOYAssetsAmt
MARKET VIEW LLC
663 UNIVERSITY AVENUE WEST SUITE 20SAINT PAULMN55104455058653COMMERCIAL RENTAL REAL ESTATEMNNEIGHBORHOOD DEVELOPMENT CENTER INCRELATED-$9,877000.10000
EAST SIDE ENTERPRISE CENTER LLC
798 MARGARET STREETSAINT PAULMN55106463309623COMMERCIAL RENTAL REAL ESTATEMNLATINO ECONOMIC DEVELOPMENT CENTERRELATED-$10,9790Yes (1)0.50000$354,956
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 Org0LoansOrGuaranteesToOtherOrgInd
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 Org0RentalOfFcltsFromOthOrgInd
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

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