2014-07-22T15:00:47-05:00 2013-12-31 411647057 MAHONEYULBRICHCHRISTIANSEN & RUSS PA 30 EAST PLATO BOULEVARD SAINT PAUL MN 551071809 990 2013-01-01 510467167 LATINO ECONOMIC DEVELOPMENT CENTER LATI 6127245336 1501 E LAKE STREET LOWER LEVEL MINNEAPOLIS MN 55407 MARIO HERNANDEZ COO 6127245336 2014-07-15 1 DANIEL J FLICEK P00076153 6512276695 2014-07-15 2013 2015-11-30 17:44:51Z X MARIO HERNANDEZ 1501 E LAKE STREET LOWER LEVEL MINNEAPOLIS MN 55407 1568788 0 X WWW.LEDC-MN.ORG X 2003 MN TO TRANSFORM OUR COMMUNITY BY CREATING ECONOMIC OPPORTUNITY FOR LATINOS. 15 15 15 15 0 0 1121904 1375237 168414 193436 607 115 0 0 1290925 1568788 0 0 0 0 691233 674470 0 0 44659 584203 783229 1275436 1457699 15489 111089 1787424 2605526 762390 1469403 1025034 1136123 X TO TRANSFORM OUR COMMUNITY BY CREATING ECONOMIC OPPORTUNITY FOR LATINOS. 0 0 1188446 193436 DURING 2013, THE 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 AND A SCHOLARSHIP PROGRAM. IN 2013, LEDC HAD APPROXIMATELY 225 ACTIVE BUSINESS MEMBERS.BUSINESS TECHNICAL ASSISTANCE AND BUSINESS LOANS 2013 (LATINO BUSINESS DEVELOPMENT) - THROUGH ITS MONTHLY BUSINESS ORIENTATION SESSIONS, LEDC PROVIDED INFORMATION TO 105 PEOPLE 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 625 HOURS OF TECHNICAL ASSISTANCE WERE PROVIDED TO START-UP AND EXISTING BUSINESSES IN 2013. EIGHT (8) LOANS WERE PACKAGED AND APPROVED IN 2013, IN THE AMOUNT OF $115,500; ALL FROM LEDCS LOAN FUND MONEY.LATINO ACADEMY TTOIC, A PROGRAM OF LEDC, EMPOWERS INDIVIDUALS BY COMBINING ADULT BASIC EDUCATION AND JOB READINESS. DURING 2013 THE WORK AREAS OF THE CURRICULUM ARE: BUSINESS TRAINING, WORKFORCE DEVELOPMENT, AND CERTIFICATIONS. IN 2013, THE LATINO ACADEMY TTOIC SERVED 460 CLIENTS. OF THIS NUMBER, 77 CLIENTS WENT THROUGH BUSINESS TRAINING CLASSES. A TOTAL OF 180 CLIENTS WENT THROUGH THE WORKFORCE DEVELOPMENT PROGRAM RESULTING IN 41 PEOPLE RECEIVING A NEW JOB OR RETAINING THEIR CURRENT JOB. LEDC'S RURAL INITIATIVE, NOW KNOWN AND RUEDO, 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. IN 2013, LEDC FOCUSED ON THREE GEOGRAPHIC CORRIDORS ALONG INTERSTATE 35 SOUTH OF THE TWIN CITIES, ALONG HIGHWAY 169 SOUTH OF THE TWIN CITIES, AND FROM WILLMAR TO ST. CLOUD AND LONG PRAIRIE ALONG HIGHWAY 23 AND 71. LEDC REACHED OVER 100 INDIVIDUALS INTERESTED IN FARMING. FROM THAT NUMBER, 20 TOOK A TRAINING COURSE AND LEDC HELPED FORM 1 NEW FARMING COOPERATIVE IN SOUTHEAST MN. OUTREACH FOR GENERAL BUSINESS TRAININGS LED TO THREE MICRO-ENTREPRENEURSHIP TRAININGS FOR OVER 30 ASPIRING ENTREPRENEURS. IN 2013, 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 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. DURING 2013, 2 LENDING CIRCLES WERE ESTABLISHED.LEDCS, THROUGH ITS LATINO SCHOLARSHIP FUND, AWARDED FIVE SCHOLARSHIPS IN 2013. 1188446 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 1 22 0 1 15 1 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MN X X RAMON LEON 6127245336 1516 EAST LAKE STREET STE 201 MINNEAPOLIS MN 55407 LORENZO ARIZA DIRECTOR 1.00 X 0 0 0 MARIA BOYLE DIRECTOR 1.00 X 0 0 0 ALONDRA CANO DIRECTOR 1.00 X 0 0 0 SUSANA DE LEON DIRECTOR 1.00 X 0 0 0 ELVIRA FLORES SECRETARY 1.00 X X 0 0 0 NORMA GARCES DIRECTOR 1.00 X 0 0 0 CHRIS GARCIA DIRECTOR 1.00 X 0 0 0 ENRIQUE GARCIA CHAIR 1.00 X X 0 0 0 CARLOS LANDREAU TREASURER 1.00 X X 0 0 0 JUAN LINARES DIRECTOR 1.00 X 0 0 0 ROSE LINDSAY DIRECTOR 1.00 X 0 0 0 RENE MADRID DIRECTOR 1.00 X 0 0 0 AMALIA MORENO-DAMGAARD DIRECTOR 1.00 X 0 0 0 ARMANDO OCAMPO DIRECTOR 1.00 X 0 0 0 VAUGHN RASSMUSSEN VICE CHAIR 1.00 X X 0 0 0 RAMON LEON PRESIDENT AND CEO 40.00 X 88615 0 20345 88615 0 20345 0 0 0 0 0 564936 810301 1375237 RENTAL INCOME 532000 115755 115755 OTHER INCOME 900099 40570 40570 PROGRAM FEES 900099 27320 27320 INTEREST ON LOANS 900099 5271 5271 MEMBERSHIP DUES 900099 4520 4520 193436 115 115 1568788 193436 0 115 X 108960 81720 21792 5448 414662 354374 52952 7336 6184 5170 872 142 95029 81217 12129 1683 49635 41505 6969 1161 67086 2960 64126 237346 183037 29418 24891 35541 29914 4824 803 129850 122530 6275 1045 26221 21926 3682 613 28898 19647 8702 549 36214 33528 2686 47076 42758 3702 616 12488 11178 1123 187 WORKSHOPS 63302 63302 SCHOLARSHIP TRANSFER 53176 53176 PROVISION FOR LOAN LOSS 32024 32024 EQUIPMENT 7900 6606 1109 185 6107 1874 4233 1457699 1188446 224594 44659 205151 959153 57327 333633 420522 1118 5975 249357 298974 11329 20360 1082517 181975 929259 900542 250 1787424 2605526 51666 135602 45244 150000 601416 1093662 64064 90139 762390 1469403 X 75472 684421 949562 451702 1025034 1136123 1787424 2605526 111089 0 X X 0 1 X 1 0 X 694224 727951 1682215 1125004 1379757 5609151 694224 727951 1682215 1125004 1379757 5609151 690592 4918559 633 1043 793 607 5386 8462 5617613 583820 0.87560 0.89110 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 163608 163608 667313 46359 620954 62784 5597 57187 188812 130019 58793 900542 SECURITY DEPOSITS 4700 DUE TO THE STATE OF MINNESOTA 52000 FISCAL AGENT PAYABLE 33439 90139 X 1572788 4000 4000 1568788 0 1568788 1461699 4000 4000 1457699 0 1457699 PART X, LINE 2: LEDC 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 IS A SINGLE MEMBER LLC. SINGLE MEMBER LLC'S ARE DISREGARDED FOR INCOME TAX REPORTING, ACCORDINGLY, THE ACTIVITY OF LOS LAGOS, LLC 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. SMALL BUSINESS SUPPORT SERVICES OWNED BY A FAMILY MEMBER OF THE EXECUTIVE DIRECTOR AT LEDC 37760 BOOKKEEPING 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) 5613 JANITORIAL AND CUSTODIAL SERVICES 0 FORM 990, PART VI, SECTION A, LINE 6 MEMBERS OF LEDC CAN RECEIVE TECHNICAL ASSISTANCE DURING THE PROCESS OF STARTING A NEW BUSINESS OR DURING THE EXPANSION OF ONE ALREADY EXISTING THROUGH ADVISEMENT IN THE FOLLOWING AREAS: LEASING CONTRACTS NEGOTIATION; BUSINESS PURCHASE OR RENT NEGOTIATION; BUSINESS REGISTRATION TO THE SECRETARY OF STATE; ACCOUNTING SYSTEMS ESTABLISHMENT; ASSISTANCE REGARDING STATE PERMITS AND LICENSES; ASSISTANCE DURING DIAGRAM ELABORATION; INTERNET INVESTIGATION OF PROVIDERS AND DISTRIBUTORS; SEARCHING FOR POTENTIAL PROVIDERS; AND ASSISTANCE WITH LOAN PACKAGES. FORM 990, PART VI, SECTION A, LINE 7A THERE IS ONLY ONE CLASS OF VOTING RIGHTS. ALL MEMBERS HAVE ONE VOTE. THE MEMBERS ELECT THE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11 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 C, LINE 19 THE 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 11G CONSULTANT: PROGRAM SERVICE EXPENSES 183,037. MANAGEMENT AND GENERAL EXPENSES 29,418. FUNDRAISING EXPENSES 24,891. TOTAL EXPENSES 237,346. FORM 990, PART XII LINE 2C THE 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. LOS LAGOS LLC 1501 EAST LAKE STREET LOWER LEVEL MINNEAPOLIS MN 55407 COMMERCIAL RENTAL REAL ESTATE FOR LATINOS MN 157885 872704 N/A MARKET VIEW LLC 663 UNIVERSITY AVENUE WEST SUITE 20 SAINT PAUL MN 55104 455058653 COMMERCIAL RENTAL REAL ESTATE MN NEIGHBORHOOD DEVELOPMENT CENTER INC RELATED 64022 64144 0 0 0.10000 EAST SIDE ENTERPRISE LLC 1501 EAST LAKE STREET LOWER LEVEL MINEAPOLIS MN 55407 COMMERCIAL RENTAL REAL ESTATE MN LATINO ECONOMIC DEVELOPMENT CENTER RELATED 0 1 0.50000 MGM COMMUNITY PARTNERS 663 UNIVERSITY AVENUE SUITE 200 SAINT PAUL MN 55104 203436698 OPERATE REAL ESTATE MN NEIGHBORHOOD DEVELOPMENT CENTER INC C 0.25000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SCHEDULE R, PAGE 2, PART III THE SHARE OF TOTAL INCOME (F) AND SHARE OF END-OF-YEAR ASSETS (G) ARE BASED ON THE 2012 SCHEDULE K-1 DUE TO THE 2013 NOT BEING AVAILABLE.