2011-07-27T11:53:28-05:00 2010-12-31 MAHONEYULBRICHCHRISTIANSEN & RUSS PA 30 EAST PLATO BOULEVARD SAINT PAUL MN 551071809 990 2010-01-01 510467167 LATINO ECONOMIC DEVELOPMENT CENTER LATI 6127245336 1516 EAST LAKE STREET NO 201 MINNEAPOLIS MN 55407 RAMON LEON 6127245336 2011-07-27 1 DANIEL J FLICEK 6512276695 2011-07-27 2010 2016-02-24 21:20:13Z RAMON LEON 1516 EAST LAKE STREET NO 201 MINNEAPOLIS MN 55407 811295 0 X WWW.LEDC-MN.ORG X 2003 MN TO TRANSFORM OUR COMMUNITY BY CREATING ECONOMIC OPPORTUNITY FOR LATINOS. 15 15 13 76 0 0 694224 727951 90389 82301 633 1043 0 0 785246 811295 0 3000 0 0 436684 452055 0 0 30369 325826 351618 762510 806673 22736 4622 559497 487060 109347 32288 450150 454772 X TO TRANSFORM OUR COMMUNITY BY CREATING ECONOMIC OPPORTUNITY FOR LATINOS. 0 0 665556 3000 82301 DURING 2010, THE LATINO ECONOMIC DEVELOPMENT CENTER (LEDC) CONTINUED WITH ITS WORK TO PROMOTE ITS VISION OF "TRANSFORMING OUR COMMUNITY BY CREATING ECONOMIC OPPORTUNITES FOR LATINOS THROUGH ITS MICRO-ENTREPRENEUR TRAINING CLASSES, BUSINESS OPENING PHASE TECHNICAL ASSISTANCE, LICENSING UPDATE ASSISTANCE, BUSINESS PERFORMANCE EVALUATIONS ASSISTANCE, AND SCHOLARSHIP PROGRAMS. IN 2010, LEDC HAD APPROXIMATELY 375 ACTIVE BUSINESS MEMBERS.LATINO ACADEMY TTOIC - LEDC EMPOWERS INDIVIDUALS BY COMBINING ADULT BASIC EDUCATION AND JOB READINESS. IN JANUARY 2010, TTOIC WAS CREATED AND INCORPORATED AS A MEMBER OF THE MINNESOTA STATE COUNCIL OF THE OIC. IN MARCH 2010, THE FIRST SATELLITE OFFICE WAS OPENED IN WILLMAR, MINNESOTA. THE PRIORITY WORK AREAS OF THE CURRICULUM ARE: BUSINESS TRAINING, WORKFORCE DEVELOPMENT, AND CERTIFICATIONS. IN LATE 2010, TWO MORE SATELLITE OFFICES WERE OPENED, ONE IN MINNEAPOLIS AND ANOTHER IN SAINT PAUL. IN 2010, THE LATINO ACADEMY TTOIC SERVED 583 CLIENTS. OF THIS NUMBER, 391 CLIENTS WENT THROUGH BUSINESS TRAINING CLASSES. A TOTAL OF 206 CLIENTS WENT THROUGH THE WORKFORCE DEVELOPMENT PROGRAM RESULTING IN 26 JOB PLACEMENTS AND 60 JOB ENHANCEMENTS AND RETAINED JOBS. ROUGHLY 35% OF THE CLIENTS WERE WOMEN AND 7% OF THEM WERE YOUTH. LEDC'S RURAL INITIATIVE - LEDC HAS CONTINUED TO EXPAND AND HAS RECEIVED DIVERSIFIED FUNDING FOR ITS RURAL INITIATIVE. LEDC RECEIVED A $225,000 GRANT FROM USDA AS PART OF THE RURAL COOPERATIVE DEVELOPMENT GRANT PROGRAM. THE MINNESOTA STATE DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT (DEED) VIA A PARTNERSHIP WITH THE CITY OF WILLMAR AND THE COUNTY OF KANDIYOHI HAS PROVIDED FUNDING FOR BUSINESS TECHNICAL ASSISTANCE AND TRAINING THROUGH THE WILLMAR AREA MARKETPLACE BUSINESS CENTER (WAMBC). 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 EXPECTS TO CONTINUE ITS RURAL INITIATIVE BY HELPING BUILD COOPERATIVES AND PUBLIC MARKETS.BUSINESS, TECHNICAL ASSISTANCE, AND BUSINESS LOANS - THROUGH ITS MONTHLY BUSINESS ORIENTATION SESSIONS, LEDC PROVIDED INFORMATION TO 143 PEOPLE ON THE BASICS OF STARTING A BUSINESS FEASIBILITY STEPS, HOW LEDC CAN ASSIST IN THE PROCESS, AND THE BENEFITS OF BECOMING A MEMBER. THROUGH ITS LOAN PROCESS ORIENTATION SESSIONS THAT STARTED IN SEPTEMBER 2010, 16 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 970 HOURS OF TECHNICAL ASSISTANCE WAS PROVIDED TO EXISTING BUSINESSES IN 2010. MORE THAN 300 OF THE 970 HOURS WAS PROVIDED TO BUSINESSES ON LAKE STREET AND THE CENTRAL AVENUE CORRIDORS IN MINNEAPOLIS. IN 2010, LEDC PACKAGED 8 LOANS TOTALLING $1,002,000 RESULTING IN THREE APPROVED PROPOSALS, BENEFITING FOUR BUSINESSES, CREATING 40 NEW JOBS, AND RETAINED 37 EMPLOYEES. 665556 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 1 17 0 1 13 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 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 0 0 0 CHRISTOPHER ROMAN 1.00 X 0 0 0 MARIA BOYLE 1.00 X 0 0 0 MIKE TEMALI 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 RAMON LEON 40.00 X 97813 0 0 YOLANDA COTTERALL 40.00 X 59732 0 0 JOHN FLORY 40.00 X 60369 0 0 MONICA ROMERO 40.00 X 53178 0 0 97813 0 0 0 0 0 0 0 248154 479797 11364 727951 PROGRAM FEES 900099 68772 68772 MEMBERSHIP DUES 900099 7710 7710 OTHER INCOME 900099 5819 5819 82301 1043 1043 811295 82301 0 1043 3000 3000 97813 63578 29343 4892 259964 236905 20988 2071 3597 3477 96 24 60698 57011 3198 489 29983 25722 3736 525 14461 14461 54461 30190 6762 17509 1255 1255 41390 36967 3874 549 52910 44735 7107 1068 10249 9785 420 44 30623 25317 4909 397 5220 458 4762 22614 21216 994 404 3194 740 2432 22 WORKSHOPS 76275 76275 SCHOLARSHIP TRANSFER 15067 15067 MISCELLANEOUS 14402 9698 4681 23 STRATEGIC PLANNING 4975 2623 2352 EQUIPMENT 4522 2792 1730 806673 665556 110748 30369 123700 142819 151003 56284 215000 145000 15258 56757 9469 1012 5505 2143 124055 51260 39312 72795 250 250 0 10000 559497 487060 9347 18721 100000 13567 109347 32288 X 128267 192727 321883 262045 450150 454772 559497 487060 4622 0 X X 0 1 1 X 0 X 709948 578759 354499 694224 727951 3065381 709948 578759 354499 694224 727951 3065381 839787 2225594 673 2860 2370 633 1043 7579 3072960 705188 0.72430 0.68360 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 124055 51260 72795 72795 811295 806673 4622 0 4622 811295 0 811295 0 811295 806673 0 806673 0 806673 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: LEDC ADOPTED FASB ACCOUNTING STANDARDS CODIFICATION (ASC) 740 ON UNCERTAIN TAX POSITIONS DURING 2009. ADOPTION OF ASC 740 DID NOT IMPACT THE FINANCIAL STATEMENTS AS THE LEDC DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS. FEDERAL AND STATE TAX AUTHORITIES GENERALLY HAVE THE RIGHT TO EXAMINE AND AUDIT THE PREVIOUS THREE YEARS OF INCOME TAX RETURNS. LEDC IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION. ANY INTEREST OR PENALTIES ASSESSED ARE RECORDED IN OPERATING EXPENSES. THERE ARE NO INTEREST OR PENALTIES RECORDED IN THE FINANCIAL STATEMENTS. X X 1 MARGARET LUND 95 W ISLAND AVE MINNEAPOLIS MN 55401 GRANTWITING 0 625000 0 21549 625000 21549 MN SMALL BUSINESS SUPPORT SERVICES OWNED BY A FAMILY MEMBER OF THE EXECUTIVE DIRECTOR AT LEDC 30720 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 XI 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. RELATED PARTIES DISCLOSURE THE LEDC USES BANKING SERVICES AT A BANK WHICH EMPLOYS A BOARD MEMBER. THE LEDC USES SERVICES OF A BOARD MEMBER AND MEMBERS OF LEDC ON MARKET RATE TERMS. THE LEDC DID NOT HAVE ANY TRANSACTIONS WITH EITHER OF THE ABOVE RELATED PARTIES WHICH RESULTED IN PAYMENT. MGM COMMUNITY PARTNERS 663 UNIVERSITY AVENUE SUITE 200 SAINT PAUL MN 55104 203436698 OPERATE REAL ESTATE MN NEIGHBORHOOD DEVELOPMENT CENTER INC C 1099997 0.25000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0