2013-07-22T08:13:50-05:00 2012-12-31 411647057 MAHONEYULBRICHCHRISTIANSEN & RUSS PA 30 EAST PLATO BOULEVARD SAINT PAUL MN 551071809 990 2012-01-01 510467167 LATINO ECONOMIC DEVELOPMENT CENTER LATI 6127245336 1516 EAST LAKE STREET NO 201 MINNEAPOLIS MN 55407 MARIO HERNANDEZ 6127245336 2013-07-08 1 DANIEL J FLICEK P00076153 6512276695 2013-07-02 2012 2016-02-24 21:20:13Z MARIO HERNANDEZ 1516 EAST LAKE STREET NO 201 MINNEAPOLIS MN 55407 1290925 0 X WWW.LEDC-MN.ORG X 2003 MN TO TRANSFORM OUR COMMUNITY BY CREATING ECONOMIC OPPORTUNITY FOR LATINOS. 16 16 17 14 0 0 1679565 1121904 90371 168414 793 607 0 0 1770729 1290925 8000 0 0 0 615313 691233 13769 0 64048 578874 584203 1215956 1275436 554773 15489 1850010 1787424 840465 762390 1009545 1025034 X TO TRANSFORM OUR COMMUNITY BY CREATING ECONOMIC OPPORTUNITY FOR LATINOS. 0 0 883920 168414 DURING 2012, 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 2012, LEDC HAD APPROXIMATELY 200 ACTIVE BUSINESS MEMBERS.BUSINESS TECHNICAL ASSISTANCE AND BUSINESS LOANS 2012 (LATINO BUSINESS DEVELOPMENT) - THROUGH ITS MONTHLY BUSINESS ORIENTATION SESSIONS, LEDC PROVIDED INFORMATION TO 123 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 1,975 HOURS OF TECHNICAL ASSISTANCE WERE PROVIDED TO START-UP AND EXISTING BUSINESSES IN 2012. TEN (10) LOANS WERE PACKAGED AND APPROVED IN 2012, IN THE AMOUNT OF $194,000; ALL FROM LEDCS LOAN FUND MONEY.LATINO ACADEMY TTOIC, A PROGRAM OF LEDC, EMPOWERS INDIVIDUALS BY COMBINING ADULT BASIC EDUCATION AND JOB READINESS. DURING 2012 THE WORK AREAS OF THE CURRICULUM ARE: BUSINESS TRAINING, WORKFORCE DEVELOPMENT, AND CERTIFICATIONS. IN 2012, THE LATINO ACADEMY TTOIC SERVED 426 CLIENTS. OF THIS NUMBER, 107 CLIENTS WENT THROUGH BUSINESS TRAINING CLASSES. A TOTAL OF 319 CLIENTS WENT THROUGH THE WORKFORCE DEVELOPMENT PROGRAM RESULTING IN 137 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 LATINO AND HMONG FARMERS AND PROSPECTIVE FARMERS. THE MINNESOTA STATE DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT (DEED) VIA A PARTNERSHIP WITH THE CITY OF WILLMAR AND THE COUNTY OF KANDIYOHI PROVIDED FUNDING FOR BUSINESS TECHNICAL ASSISTANCE AND TRAINING THROUGH THE WILLMAR AREA MARKETPLACE BUSINESS CENTER (WAMBC). LEDC COMPLEMENTED THAT PARTNERSHIP WITH FUNDING FROM THE STATE OIC ALLOCATION FOR JOB TRAINING SERVICES. LEDC WRAPPED UP ITS AGREEMENT WITH WAMBC TO ADMINISTER A SMALL BUSINESS LOAN FUND SERVING THE WILLMAR AREA AND MADE THREE LOANS FROM THIS FUND IN 2012. THE RELATIONSHIP AND COLLABORATION WITH WAMBC IS A MODEL OF LEDC'S RURAL WORK AND EXAMPLE OF BEST PRACTICES IN LINKING METRO RESOURCES IN SUPPORT OF RURAL OPPORTUNITIES FOR MINORITIES IN RURAL MINNESOTA COMMUNITIES. LEDC CONDUCTED TWO FEASIBILITY STUDIES, ONE FOR A COOPERATIVE MEAT PROCESSING FACILITY AND ONE FOR A PUBLIC MARKET. BOTH FEASIBILITY STUDIES WERE FOR PROJECTS IN RURAL MINNESOTA COMMUNITIES, AND ARE THE TYPES OF INNOVATIVE PROJECTS LEDC IS LOOKING TO INTEGRATE INTO ITS RURAL INITIATIVE. LEDC STARTED A PILOT 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 2012, 28 PEOPLE PARTICIPATED IN THIS PROGRAM, SAVING COLLECTIVELY $34,150.LEDCS, THROUGH ITS LATINO SCHOLARSHIP FUND, AWARDED SEVEN SCHOLARSHIPS IN 2012. 883920 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 0 1 0 0 0 0 0 1 0 0 0 1 21 0 1 17 1 0 0 0 0 0 0 0 0 0 0 X 16 16 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 JENNIFER GODINEZ 1.00 X 0 0 0 JUAN LINARES 1.00 X X 0 0 0 LEO LOPEZ 1.00 X X 0 0 0 ELVIRA FLORES 1.00 X X 0 0 0 LORENZO ARIZA 1.00 X 0 0 0 RONALD LEZAMA 1.00 X X 0 0 0 MARIA BOYLE 1.00 X 0 0 0 SALVADOR MIRANDA 1.00 X 0 0 0 ENRIQUE GARCIA 1.00 X 0 0 0 CARLOS LANDREAU 1.00 X 0 0 0 ROSE LINDSEY 1.00 X 0 0 0 IDALIA LEUZE 1.00 X 0 0 0 THOMAS PANTALION 1.00 X 0 0 0 ERNESTO PALESTINO 1.00 X 0 0 0 RAFAEL QUINTERO 1.00 X 0 0 0 RENE MADRID 1.00 X 0 0 0 RAMON LEON 40.00 X 85206 0 21115 85206 0 21115 0 0 0 0 0 663300 458604 12217 1121904 RENTAL INCOME 532000 95000 95000 PROGRAM FEES 900099 52914 52914 OTHER INCOME 900099 17400 17400 MEMBERSHIP DUES 900099 3100 3100 168414 607 607 1290925 168414 0 607 106321 69108 31896 5317 437573 299583 119248 18742 3928 2722 1066 140 87951 60277 23899 3775 55460 37657 15362 2441 71204 3280 67924 124582 84591 14409 25582 36562 25189 9814 1559 143491 127032 13381 3078 28804 19558 7979 1267 23428 15213 8215 37830 37071 759 49365 39625 8405 1335 11576 9393 1884 299 WORKSHOPS 25223 25223 SCHOLARSHIP TRANSFER 20487 20487 EQUIPMENT 7860 5337 2177 346 MISCELLANEOUS 3791 2574 1050 167 1275436 883920 327468 64048 390531 205151 56902 57327 289416 333633 1354 1118 199444 249357 9278 11329 1064157 134898 902835 929259 250 250 1850010 1787424 80984 51666 134889 72608 619892 601416 4700 36700 840465 762390 X 157876 75472 851669 949562 1009545 1025034 1850010 1787424 15489 0 X X 0 1 X 1 0 X 354499 694224 727951 1682215 1125004 4583893 354499 694224 727951 1682215 1125004 4583893 494278 4089615 2370 633 1043 793 607 5446 4589339 694630 0.89110 0.86840 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 163608 163608 667313 29248 638065 47869 1990 45879 185367 103660 81707 929259 SECURITY DEPOSITS 4700 DUE TO THE STATE OF MINNESOTA 32000 36700 X 1290925 0 1290925 0 1290925 1275436 0 1275436 0 1275436 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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 IN 2012 OR 2011. 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 38180 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 AZ-TECHS COMPUTER SERVICES PARTIALLY OWNED BY A BOARD MEMBER AT LEDC 28560 COMPUTER SUPPORT SERVICES FOR LEDC ARE PROVIDED BY AZ-TECHS COMPUTER SERVICES, WHICH IS PARTIALLY OWNED BY A BOARD MEMBER OF LEDC. 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 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 1516 EAST LAKE STREET SUITE 201 MINNEAPOLIS MN 55407 COMMERCIAL RENTAL REAL ESTATE FOR LATINOS MN 102440 860541 N/A MARKET VIEW LLC 663 UNIVERSITY AVE SUITE 200 ST PAUL MN 55104 COMMERCIAL RENTAL REAL ESTATE MN NEIGHBORHOOD DEVELOPMENT CENTER INC 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