2012-08-09T13:16:53-05:00 2011-12-31 411647057 MAHONEYULBRICHCHRISTIANSEN & RUSS PA 30 EAST PLATO BOULEVARD SAINT PAUL MN 551071809 990 2011-01-01 510467167 LATINO ECONOMIC DEVELOPMENT CENTER LATI 6127245336 1516 EAST LAKE STREET NO 201 MINNEAPOLIS MN 55407 MARIO HERNANDEZ 6127245336 2012-08-09 1 DANIEL J FLICEK P00076153 6512276695 2012-08-09 2011 2016-02-24 21:20:13Z MARIO HERNANDEZ 1516 EAST LAKE STREET NO 201 MINNEAPOLIS MN 55407 1770729 0 X WWW.LEDC-MN.ORG X 2003 MN TO TRANSFORM OUR COMMUNITY BY CREATING ECONOMIC OPPORTUNITY FOR LATINOS. 15 15 17 35 0 0 727951 1679565 82301 90371 1043 793 0 0 811295 1770729 3000 8000 0 0 452055 615313 0 13769 72353 351618 578874 806673 1215956 4622 554773 487060 1850010 32288 840465 454772 1009545 X TO TRANSFORM OUR COMMUNITY BY CREATING ECONOMIC OPPORTUNITY FOR LATINOS. 0 0 980545 8000 90371 DURING 2011, 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 SCHOLARSHIP PROGRAMS. IN 2011, LEDC HAD APPROXIMATELY 350 ACTIVE BUSINESS MEMBERS. LATINO ACADEMY TTOIC - LEDC EMPOWERS INDIVIDUALS BY COMBINING ADULT BASIC EDUCATION AND JOB READINESS. DURING 2011, TTOIC EXPANDED IT SERVICES AS THE NEWEST MEMBER OF THE MINNESOTA STATE COUNCIL OF THE OIC IN MINNEAPOLIS AND ST. PAUL SERVING LATINO CLIENTS. A SATELLITE OFFICE WAS OPENED IN WILLMAR, MINNESOTA. THE PRIORITY WORK AREAS OF THE CURRICULUM ARE: BUSINESS TRAINING, WORKFORCE DEVELOPMENT, AND CERTIFICATIONS. IN 2011, THE LATINO ACADEMY TTOIC SERVED 321 CLIENTS. OF THIS NUMBER, 122 CLIENTS WENT THROUGH BUSINESS TRAINING CLASSES. A TOTAL OF 296 CLIENTS WENT THROUGH THE WORKFORCE DEVELOPMENT PROGRAM RESULTING IN 51 JOB PLACEMENTS AND 134 JOB ENHANCEMENTS AND RETAINED JOBS. ROUGHLY 45% OF THE CLIENTS WERE WOMEN AND 5% OF THEM WERE YOUTH. LEDC'S RURAL INITIATIVE - LEDC HAS CONTINUED ITS SERVICES TO SMALL BUSINESSES IN RURAL COMMUNITIES AND IN ADDITION HAS EXPANDED SERVICES TO PROMOTE AGRICULTURAL BUSINESS DEVELOPMENT AMONG IMMIGRANT VEGETABLE GROWERS, PROVIDING SERVICES TO BOTH LATINO AND HMONG FARMERS AND PROSPECTIVE FARMERS. LEDC RECEIVED A 2ND $225,000 GRANT FROM USDA AS PART OF THE RURAL COOPERATIVE DEVELOPMENT GRANT PROGRAM TO ESTABLISH RURAL COOPERATIVES. 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 ENTERED INTO AN AGREEMENT WITH WAMBC TO ADMINISTER A SMALL BUSINESS LOAN FUND SERVING THE WILLMAR AREA AND MADE ONE LOAN FROM THIS FUND IN 2011.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. BUSINESS, TECHNICAL ASSISTANCE, AND BUSINESS LOANS - THROUGH ITS MONTHLY BUSINESS ORIENTATION SESSIONS, LEDC PROVIDED INFORMATION TO 118 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 ITS LOAN PROCESS ORIENTATION SESSIONS THAT STARTED IN SEPTEMBER 2010, 14 PEOPLE HAVE RECEIVED 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 740 HOURS OF TECHNICAL ASSISTANCE WAS PROVIDED TO EXISTING BUSINESSES IN 2011. IN 2011, LEDC PACKAGED 5 LOANS TOTALING $3,875,000 RESULTING IN THREE APPROVED PROPOSALS, BENEFITING THREE BUSINESSES, CREATING 12 NEW JOBS, AND RETAINED 27 EMPLOYEES.LEDC PURCHASED A FORECLOSED BUILDING ON LAKE STREET IN MINNEAPOLIS AND LEASED A SIGNIFICANT PORTION A A RESTAURANT CLIENT, WITH PLANS TO CONVERT THE REMAINDER OF THE BUILDING TO CLASSROOM SPACE FOR THE TTOIC WORKFORCE DEVELOPMENT PROGRAM AND CLIENT SERVICE OFFICES. 980545 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 1 15 0 1 17 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 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 MIGUEL ZAGAL 1.00 X 0 0 0 IDALIA LEUZE 1.00 X 0 0 0 TOMAS PANTALION 1.00 X 0 0 0 ERNESTO PALESTION 1.00 X 0 0 0 RAFAEL QUINTERO 1.00 X 0 0 0 RAMON LEON 40.00 X 83505 0 19335 83505 0 19335 0 0 0 0 0 1255028 424537 5250 1679565 RENTAL INCOME 532000 53600 53600 PROGRAM FEES 900099 30440 30440 OTHER INCOME 900099 3681 3681 MEMBERSHIP DUES 900099 2650 2650 90371 793 793 1770729 90371 0 793 8000 8000 102840 66845 30852 5143 370177 335889 24854 9434 4244 4001 150 93 91976 82809 6760 2407 46076 39625 5068 1383 1617 1177 440 36476 1956 34520 13769 13769 104546 29793 41129 33624 533 533 40860 35220 4433 1207 122237 113134 7152 1951 40801 39606 986 209 31829 28057 1827 1945 23138 23009 102 27 37163 33671 2744 748 5970 5551 329 90 WORKSHOPS 62687 62687 SCHOLARSHIP TRANSFER 52164 52164 MISCELLANEOUS 15176 14189 775 212 EQUIPMENT 3677 3162 404 111 1215956 980545 163058 72353 142819 390531 56284 56902 145000 175000 56757 115770 1012 199444 2143 9278 991258 88423 72795 902835 250 250 10000 0 487060 1850010 18721 80984 134889 13567 619892 0 4700 32288 840465 X 192727 157876 262045 851669 454772 1009545 487060 1850010 554773 0 X X 0 1 1 X 1 1 X 578759 354499 694224 727951 1682215 4037648 578759 354499 694224 727951 1682215 4037648 524558 3513090 2860 2370 633 1043 793 7699 4045347 698769 0.86840 0.72430 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 163608 163608 667313 12138 655175 160337 76285 84052 902835 SECURITY DEPOSITS 4700 4700 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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 2011 OR 2010. 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. X X 1 FOX CONSULTING 95 W ISLAND AVE MINNEAPOLIS MN 55401 GRANTWRITING 0 120000 13769 106231 120000 13769 106231 MN 1 LOS OCAMPO 809 EAST LAKE STREET MINNEAPOLIS MN 55407 8000 RECRUITMENT AND TRAINING GRANT 0 1 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: GRANTS ARE GIVEN TO LATINO BUSINESSES IN MINNEAPOLIS, MINNESOTA SMALL BUSINESS SUPPORT SERVICES OWNED BY A FAMILY MEMBER OF THE EXECUTIVE DIRECTOR AT LEDC 35420 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 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 1516 EAST LAKE STREET SUITE 201 MINNEAPOLIS MN 55407 COMMERCIAL RENTAL REAL ESTATE FOR LATINOS MN 55015 830633 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