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LATINO ECONOMIC DEVELOPMENT CENTER: Form 990, tax year 2015

View the entire original 990 at ProPublica ↗

Organization
LATINO ECONOMIC DEVELOPMENT CENTER (EIN 51-0467167)
Tax period
2015-01-01 to 2015-12-31
Filed
2016-10-04
IRS object ID
201632789349300418
Schema version
2015v2.1
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)
Return2016-10-04T10:32:21-05:00ReturnTs
Tax Period End2015-12-31TaxPeriodEndDt

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 Begin2015-01-01TaxPeriodBeginDt

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
Signature2016-10-04SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonDANIEL J FLICEKPreparerPersonNm
PTINP00076153PTIN
Phone6512276695PhoneNum
Preparation2016-09-27PreparationDt
FieldValueIRS element (for citing)
Tax2015TaxYr
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$2,501,035GrossReceiptsAmt
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 Employee14TotalEmployeeCnt
Total Volunteers16TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$2,098,602PYContributionsGrantsAmt
CY Contributions Grants$2,137,047CYContributionsGrantsAmt
PY Program Service Revenue$249,551PYProgramServiceRevenueAmt
CY Program Service Revenue$363,988CYProgramServiceRevenueAmt
PY Investment Income$12PYInvestmentIncomeAmt
CY Investment Income$0CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$2,348,165PYTotalRevenueAmt
CY Total Revenue$2,501,035CYTotalRevenueAmt
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$753,974PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$806,620CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$90,653CYTotalFundraisingExpenseAmt
PY Other Expenses$1,304,633PYOtherExpensesAmt
CY Other Expenses$1,343,175CYOtherExpensesAmt
PY Total Expenses$2,058,607PYTotalExpensesAmt
CY Total Expenses$2,149,795CYTotalExpensesAmt
PY Revenues Less Expenses$289,558PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$351,240CYRevenuesLessExpensesAmt
Total Assets BOY$3,146,177TotalAssetsBOYAmt
Total Assets EOY$5,246,410TotalAssetsEOYAmt
Total Liabilities BOY$1,727,811TotalLiabilitiesBOYAmt
Total Liabilities EOY$3,475,608TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$1,418,366NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$1,770,802NetAssetsOrFundBalancesEOYAmt
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$1,684,254ExpenseAmt
Revenue$363,988RevenueAmt
DescTHE LATINO ECONOMIC DEVELOPMENT CENTER (LEDC) ENGAGED IN ACTIVITIES TO PROMOTE ITS VISION OF "TRANSFORMING OUR COMMUNITY BY CREATING ECONOMIC OPPORTUNITIES FOR LATINOS" THROUGH MICRO-ENTREPRENEUR TRAINING CLASSES, BUSINESS OPENING PHASE TECHNICAL ASSISTANCE, LICENSING UPDATE ASSISTANCE, BUSINESS PERFORMANCE EVALUATIONS ASSISTANCE, BUSINESS FINANCING OPERATIONS, WORKFORCE TRAINING, BUSINESS LENDING, AND A SCHOLARSHIP PROGRAM. LEDC HAD APPROXIMATELY 250 ACTIVE BUSINESS MEMBERS.BUSINESS TECHNICAL ASSISTANCE (LATINO BUSINESS DEVELOPMENT) - THROUGH ITS MONTHLY BUSINESS ORIENTATION SESSIONS, LEDC PROVIDED INFORMATION TO 28 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 800 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 FOCUSED ON THREE GEOGRAPHIC CORRIDORS IN GREATER MN. 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. 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 600 CLIENTS. BUSINESS LENDING PROGRAM - THIRTY LOANS WERE PACKAGED AND APPROVED, TOTALING $857,000; FUNDS FOR THESE LOANS CAME FROM LEDC'S LOAN POOL; 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. LEDC'S, THROUGH ITS LATINO SCHOLARSHIP FUND, AWARDED NINE SCHOLARSHIPS IN 2015.Desc
Total Program Service Expenses$1,684,254TotalProgramServiceExpensesAmt
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 Document27IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee14EmployeeCnt
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
Other WebsiteYes (X)OtherWebsiteInd
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 (14 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
TREASURER1.00Yes (X)$0$0$0Yes (X)
JUAN CERVANTES
DIRECTOR1.00Yes (X)$0$0$0
SUSANA DE LEON
VICE CHAIR1.00Yes (X)$0$0$0Yes (X)
ELVIRA FLORES
SECRETARY1.00Yes (X)$0$0$0Yes (X)
NORMA GARCES
DIRECTOR1.00Yes (X)$0$0$0
CHRIS GARCIA
DIRECTOR1.00Yes (X)$0$0$0
ENRIQUE GARCIA
CHAIR1.00Yes (X)$0$0$0Yes (X)
ROSE LINDSAY
DIRECTOR1.00Yes (X)$0$0$0
RENE MADRID
DIRECTOR1.00Yes (X)$0$0$0
AMALIA MORENO-DAMGAARD
DIRECTOR1.00Yes (X)$0$0$0
IRIS RAMOS
DIRECTOR1.00Yes (X)$0$0$0
RAMON LEON
PRESIDENT AND CEO40.00$113,068$0$25,346Yes (X)
MARIO HERNANDEZ
VICE PRESIDENT AND COO40.00$80,076$0$6,315Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$193,144TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$31,661TotalOtherCompensationAmt
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$1,442,686GovernmentGrantsAmt
All Other Contributions$694,361AllOtherContributionsAmt
Total Contributions$2,137,047TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (5 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
RENTAL INCOME532000$223,395$223,395
PROGRAM FEES900099$71,759$71,759
INTEREST ON LOANS900099$42,436$42,436
OTHER INCOME900099$22,728$22,728
MEMBERSHIP DUES900099$3,670$3,670
FieldValueIRS element (for citing)
Total Program Service Revenue$363,988TotalProgramServiceRevenueAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$2,501,035TotalRevenueColumnAmt
Related Or Exempt Func Income$363,988RelatedOrExemptFuncIncomeAmt
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$224,805TotalAmt
Program Services$9,503ProgramServicesAmt
Management And General$170,852ManagementAndGeneralAmt
Fundraising$44,450FundraisingAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$393,838TotalAmt
Program Services$387,133ProgramServicesAmt
Management And General$6,615ManagementAndGeneralAmt
Fundraising$90FundraisingAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$4,459TotalAmt
Program Services$2,988ProgramServicesAmt
Management And General$1,159ManagementAndGeneralAmt
Fundraising$312FundraisingAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$130,597TotalAmt
Program Services$108,596ProgramServicesAmt
Management And General$18,545ManagementAndGeneralAmt
Fundraising$3,456FundraisingAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$52,921TotalAmt
Program Services$35,640ProgramServicesAmt
Management And General$13,893ManagementAndGeneralAmt
Fundraising$3,388FundraisingAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$92,400TotalAmt
Program Services$6,475ProgramServicesAmt
Management And General$85,925ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$507,595TotalAmt
Program Services$473,403ProgramServicesAmt
Management And General$9,905ManagementAndGeneralAmt
Fundraising$24,287FundraisingAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$42,089TotalAmt
Program Services$30,037ProgramServicesAmt
Management And General$9,690ManagementAndGeneralAmt
Fundraising$2,362FundraisingAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$185,291TotalAmt
Program Services$158,100ProgramServicesAmt
Management And General$21,860ManagementAndGeneralAmt
Fundraising$5,331FundraisingAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$46,226TotalAmt
Program Services$31,132ProgramServicesAmt
Management And General$12,135ManagementAndGeneralAmt
Fundraising$2,959FundraisingAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$21,290TotalAmt
Program Services$14,338ProgramServicesAmt
Management And General$5,589ManagementAndGeneralAmt
Fundraising$1,363FundraisingAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$59,381TotalAmt
Program Services$59,381ProgramServicesAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$67,349TotalAmt
Program Services$58,885ProgramServicesAmt
Management And General$6,805ManagementAndGeneralAmt
Fundraising$1,659FundraisingAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$17,924TotalAmt
Program Services$15,633ProgramServicesAmt
Management And General$1,842ManagementAndGeneralAmt
Fundraising$449FundraisingAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmtFundraisingFundraisingAmt
PROVISION FOR LOAN LOSS$143,046$143,046
PROGRAM SUPPLIES AND EQ$78,898$78,898
SCHOLARSHIP TRANSFER$62,293$62,293
EQUIPMENT$8,542$5,753$2,242$547

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$10,851TotalAmt
Program Services$3,020ProgramServicesAmt
Management And General$7,831ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$2,149,795TotalAmt
Program Services$1,684,254ProgramServicesAmt
Management And General$374,888ManagementAndGeneralAmt
Fundraising$90,653FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$878,825BOYAmt
EOY$889,854EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
BOY$414,435BOYAmt
EOY$480,131EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$7,725BOYAmt
EOY$61,405EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

FieldValueIRS element (for citing)
BOY$727,151BOYAmt
EOY$1,196,466EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$19,735BOYAmt
EOY$17,587EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$2,624,172LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$273,869LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$894,696BOYAmt
EOY$2,350,303EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

FieldValueIRS element (for citing)
BOY$203,610BOYAmt
EOY$250,664EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$3,146,177BOYAmt
EOY$5,246,410EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$84,314BOYAmt
EOY$119,312EOYAmt

Deferred Revenue DeferredRevenueGrp

FieldValueIRS element (for citing)
BOY$438,015BOYAmt
EOY$202,032EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$1,110,566BOYAmt
EOY$2,886,048EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$94,916BOYAmt
EOY$268,216EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$1,727,811BOYAmt
EOY$3,475,608EOYAmt
FieldValueIRS element (for citing)
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

FieldValueIRS element (for citing)
BOY$229,570BOYAmt
EOY$336,592EOYAmt

Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp

FieldValueIRS element (for citing)
BOY$1,188,796BOYAmt
EOY$1,434,210EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$1,418,366BOYAmt
EOY$1,770,802EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$3,146,177BOYAmt
EOY$5,246,410EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss$351,240ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$1,196OtherChangesInNetAssetsAmt
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$1,682,215CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$1,125,004CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$1,379,757CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$2,103,002CurrentTaxYearMinus1YearAmt
Current Tax Year$2,140,717CurrentTaxYearAmt
Total$8,430,695TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$1,682,215CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$1,125,004CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$1,379,757CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$2,103,002CurrentTaxYearMinus1YearAmt
Current Tax Year$2,140,717CurrentTaxYearAmt
Total$8,430,695TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$290,288SubstantialContributorsTotAmt
Public Support Total170$8,140,407PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$793CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$607CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$5,386CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$16,489CurrentTaxYearMinus1YearAmt
Current Tax Year$42,436CurrentTaxYearAmt
Total$65,711TotalAmt
FieldValueIRS element (for citing)
Total Support$8,496,406TotalSupportAmt
Gross Receipts Rltd Activities$983,237GrossReceiptsRltdActivitiesAmt
Public Support CY1700.95810PublicSupportCY170Pct
Public Support PY1700.95430PublicSupportPY170Pct
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$88,198DepreciationAmt
Book Value$1,721,730BookValueAmt

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$235,770OtherCostOrOtherBasisAmt
Depreciation$24,216DepreciationAmt
Book Value$211,554BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$264,866OtherCostOrOtherBasisAmt
Depreciation$161,455DepreciationAmt
Book Value$103,411BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$2,350,303TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)

DescDescAmtAmt
SECURITY DEPOSITS$19,966
DUE TO THE STATE OF MINNESOTA$193,250
SCHOLARSHIP DONATION PAYABLE$55,000
FieldValueIRS element (for citing)
Total Liability$268,216TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$2,529,075TotalRevEtcAuditedFinclStmtAmt
Donated Services And Use Fclts$28,040DonatedServicesAndUseFcltsAmt
Revenue Not Reported$28,040RevenueNotReportedAmt
Revenue Subtotal$2,501,035RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$2,501,035TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$2,177,835TotExpnsEtcAuditedFinclStmtAmt
Donated Services Use Fclts$28,040DonatedServicesUseFcltsAmt
Expenses Not Reported$28,040ExpensesNotReportedAmt
Expenses Subtotal$2,149,795ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$2,149,795TotalExpensesPerForm990Amt

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 (3 entries)

Relationship DescriptionRelationshipDescriptionTxtTransactionTransactionAmtTransactionTransactionDescSharing Of RevenuesSharingOfRevenuesInd
SMALL BUSINESS SUPPORT SERVICES
OWNED BY A FAMILY MEMBER OF THE EXECUTIVE DIRECTOR AT LEDC$44,120BOOKKEEPING 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)$6,844JANITORIAL AND CUSTODIAL SERVICES0
BRIDGE REALTY
COMMON EMPLOYEE OF LEDC AND BRIDGE REALTY$37,875REAL ESTATE BROKERAGE 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 11THE 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 473,403. MANAGEMENT AND GENERAL EXPENSES 9,905. FUNDRAISING EXPENSES 24,287. TOTAL EXPENSES 507,595.
FORM 990, PART XI, LINE 9:EQUITY IN INVESTMENT INCOME 1,196.
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$171,835$859,291N/A
NORTHCOUNTRY PRODUCE LLC
1516 E LAKE ST SUITE 201MINNEAPOLISMN55407371756530COMMERCIAL KITCHEN FOR PROGRAM PARTICIPANTSMN$127,877$217,009

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 IncomeShareOfTotalIncomeAmtShare Of EOY AssetsShareOfEOYAssetsAmtDisproportionate AllocationsDisproportionateAllocationsIndGeneral Or Managing PartnerGeneralOrManagingPartnerIndOwnershipOwnershipPct
MARKET VIEW LLC
663 UNIVERSITY AVENUE WEST SUITE 20SAINT PAULMN55104455058653COMMERCIAL RENTAL REAL ESTATEMNNEIGHBORHOOD DEVELOPMENT CENTER INCRELATED$1,441,890$162,302000.10000
EAST SIDE ENTERPRISE CENTER LLC
798 MARGARET STREETSAINT PAULMN55106463309623COMMERCIAL RENTAL REAL ESTATEMNLATINO ECONOMIC DEVELOPMENT CENTERRELATED$50,896$416,1180Yes (1)0.50000
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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