NonprofitsLatino Economic Development Center

Housing & Shelter

Latino Economic Development Center

SAINT PAUL, MN

Total revenue

$4.4M

Total expenses

$4.0M

Net assets

$9.9M

Grants received

$9.4M

121 grants

EIN

510467167

Tax year

2024

Mission

To transform our community by creating economic opportunities for Latinos throughout Minnesota.

Programs

2 programs

LEDC's Business Development Program helps entrepreneurs prepare to launch or grow their business, including communications and marketing, budgeting, digital literacy, commercial insurance, taxation, and other areas of technical assistance. Our Business Development associates guide each member in creating their business plan and provide access to resources and education needed to meet their goals. Through direct support and referrals to specialized service providers, we support clients with their needs in finance, legal issues, technology, information technology (IT), human resources (HR) issues, and industry-specific regulations. Last year, LEDC's Business Development program supported more than 700 aspiring entrepreneurs and small business owners through business development workshops and one-on-one business consulting provided in Spanish and English.

Expenses: $1.6MGrants: $20K

LEDC's Agriculture Program, an extension of our Business Development program with a technical focus on the agricultural sector, provides technical assistance, business development, and access to affordable capital and markets that help beginning and established farmers and entrepreneurs start new farming or food production enterprises or grow their existing farm businesses. Additional services include Organic and GAP certification and navigating the complex system of government agriculture programs. Throughout 2024, LEDC's Agriculture program provided technical assistance to 96 farmers and agriculture-focused businesses and supported businesses with closing three loans deploying a total of $580,000 of capital.

Expenses: $393K

Financials

FY 2024

Revenue

Contributions & grants$3.7M
Program service revenue$311K
Investment income$396K
Other revenue
Total revenue$4.4M

Expenses

Grants paid$20K
Salaries & benefits$1.7M
Fundraising$75K
Other expenses$2.3M
Total expenses$4.0M
Total assets$20.0M
Net assets$9.9M

People

17 listed

NameRoleCompensation

Jose Camarena-Michel

Interim Executive Director

Board

$108K

40 hrs/wk

Alma Flores

Executive Director

Board

$45K

40 hrs/wk

Henry Jimenez

Past Executive Director

Board

$35K

40 hrs/wk

Angela Knudson

Director

Board

1 hrs/wk

Eduardo Mozqueda

Director

Board

1 hrs/wk

Tony Vannicola

Director

Board

1 hrs/wk

Carlos Lamboglia

Director

Board

1 hrs/wk

Vanessa Butler

Director

Board

1 hrs/wk

Carlos Lopez

Board Chair

Board

1 hrs/wk

Linda Correa Bates

Director

Board

1 hrs/wk

Ambar Cristina Hanson

Director

Board

1 hrs/wk

Alejandro Trevino

Director

Board

1 hrs/wk

John Uribe

Director

Board

1 hrs/wk

Jeremy Wermerskirchen

Director

Board

1 hrs/wk

Jennifer Carlson

Director

Board

1 hrs/wk

Uri Camarena

Secretary

Board

1 hrs/wk

Ruben Hidalgo

Treasurer

Board

1 hrs/wk

Independent contractors

CliftonLarsonAllen LLP

Accounting Services

$320K

Lunning Wende

Architect Services

$175K

Craftsman Technology Group LLC

Customer Relationship Management Solutio

$103K

Grants received

Showing 121 of 121

FromAmountPurposeYear
$770K
MULTIPLE GRANTS FOR MULTIPLE PURPOSES
2024
$250K
for general operating support
2024
$150K
ECONOMIC OPPORTUNITY - HOMETOWN
2024
$91K
PROGRAM COSTS
2024
$70K
DONOR ADVISED, PUBLIC AFFAIRS/SOCIETY BENEFIT
2024
$50K
TO SUPPORT GENERAL OPERATIONS
2024
$50K
Support LEDC's Baltimore City sustainable lending technical assistance
2024
$30K
UNRESTRICTED
2024
$25K
GENERAL OPERATING SUPPORT
2024
$25K
COMMUNITY DEVELOPMENT
2024
$7K
UNRESTRICTED
2024
$1K
GENERAL SUPPORT
2024
$400K
GENERAL OPERATIONS & PLAZA DEL SOL CAPITAL REQUEST
2023
$250K
For general operating support to build LEDC's operational and lending capacity to provide business development and equitable lending services for Minnesota's Latino-owned and BIPOC-owned businesses grow and build community wealth
2023
$160K
CATALYST INITIATIVE (LATINO ECONOMIC DEVELOPMENT CENTER) IS A CONSORTIUM OF FIVE COMMUNITY DEVELOPMENT CORPORATIONS THAT SERVE MINORITY-OWNED BUSINESSES IN THE TWIN CITIES METRO AND GREATER MINNESOTA. TOGETHER, THESE ORGANIZATIONS ARE WORKING TO INCREASE THE QUALITY AND QUANTITY OF SUPPORT FOR BIPOC-LED BUSINESSES IN MINNESOTA, INCLUDING CREATING THE MN INCLUSIVE GROWTH FUND. (THE PARTICIPATING ORGANIZATIONS ARE: METROPOLITAN ECONOMIC DEVELOPMENT ASSOCIATION (MEDA), NORTHSIDE ECONOMIC OPPORTUNITY NETWORK (NEON), LATINO ECONOMIC DEVELOPMENT CENTER (LEDC), AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS (AEDS), AND COMMUNITY REINVESTMENT FUND, USA (CRF).) ECOSYSTEM GRANTS PROVIDE GENERAL OPERATING SUPPORT FOR ORGANIZATIONS THAT SUPPORT OTHERS TO SOLVE PROBLEMS IN THEIR COMMUNITIES.
2023
$150K
ECONOMIC OPPORTUNITY - HOMETOWN
2023
$150K
GENERAL SUPPORT
2023
$100K
GENERAL OPERATING SUPPORT
2023
$75K
PROGRAM COSTS
2023
$75K
TO SUPPORT GENERAL OPERATIONS OVER THREE YEARS
2023
$63K
MULTIPLE GRANTS FOR PROGRAMS, OPERATIONS, OR OTHER PURPOSES
2023
$40K
GENERAL OPERATING
2023
$35K
PLAZA DEL SOL CAPITAL CAMPAIGN GENERAL OPERATING SUPPORT
2023
$33K
UNRESTRICTED
2023
$30K
LEDC - EAST METRO BUSINESS DEVELOPMENT PROGRAM SUPPORT
2023
$25K
COMMUNITY DEVELOPMENT
2023
$16K
CHARITABLE DONATION
2023
$15K
STRENGTHENING NEIGHBORHOODS
2023
$15K
GENERAL OPERATIONS OF THE ORGANIZATION
2023
$15K
UNRESTRICTED
2023
$10K
COMMUNITY VITALITY
2023
$3K
UNRESTRICTED
2023
$150K
To support nonprofit intermediaries re-granting public dollars
2022
$140K
For general operating support
2022
$125K
COMMUNITY & ECONOMIC DEVELOPMENT
2022
$100K
PROJECT
2022
$100K
PROGRAM/OPERATING SUPPORT
2022
$100K
GENERAL OPERATING SUPPORT
2022
$100K
GENERAL OPERATING SUPPORT
2022
$75K
TO SUPPORT GENERAL OPERATIONS OVER THREE YEARS
2022
$50K
GENERAL OPERATIONS & PLAZA DEL SOL CAPITAL REQUEST
2022
$50K
COMMUNITY DEVELOPMENT
2022
$50K
PLAZA DEL SOL CAPITAL CAMPAIGN
2022
$38K
PROGRAM COSTS
2022
$36K
GENERAL OPERATING SUPPORT
2022
$33K
UNRESTRICTED
2022
$30K
SMALL BUSINESS INVESTMENT IN THE EAST METRO
2022
$22K
UNRESTRICTED
2022
$15K
STRENGTHENING NEIGHBORHOODS
2022
$15K
For general operating support in recognition of LEDC's engagement in GroundBreak Coalition work groups
2022
$15K
GENERAL OPERATING SUPPORT
2022
$15K
GENERAL OPERATING
2022
$15K
GENERAL OPERATIONS OF THE ORGANIZATION
2022
$12K
CHARITABLE DONATION
2022
$10K
GENERAL DONATION
2022
$10K
COMMUNITY VITALITY
2022
$5K
UNRESTRICTED
2022
$5K
ACHIEVE YOUR DREAM
2022
$1K
In gratitude for serving as a panelist at the GroundBreak Coalition launch on May 12, 2022
2022
$1K
GENERAL OPERATING
2022
$1K
GENERAL OPERATING SUPPORT
2022
$200K
GENERAL OPERATING
2021
$181K
MULTIPLE GRANTS FOR MULTIPLE PURPOSES
2021
$140K
for general operating support
2021
$140K
for general operating support
2021
$91K
DONOR-RECOMMENDED, COMMUNITY & ECONOMIC DEVELOPMENT
2021
$530K
PROGRAM COSTS
2020
$350K
COVID CAPACITY BUILDING AND RESPONSE FOR LMI SMALL BUSINESSES PROGRAM
2020
$256K
LATINO SMALL BUSINESS SUPPORT - 422654
2020
$246K
MULTIPLE PURPOSES
2020
$208K
TO SUPPORT AND REBUILD IMMIGRANT-OWNED BUSINESSES IN THE TWIN CITIES
2020
$200K
Rebuild and Heal MN
2020
$100K
GENERAL OPERATING
2020
$100K
PROJECT
2020
$100K
GENERAL OPERATING SUPPORT FOR LATINX BUSINESSES AND ENTREPRENEURS
2020
$100K
RACIAL EQUITY
2020
$85K
GENERAL OPERATING SUPPORT
2020
$80K
COMMITTED IN 2019 - HOMETOWN - RACIAL EQUITY
2020
$75K
For general operating support, and to help cover costs associated with CARES Act funding
2020
$75K
For general operating support, and for project support to help build organizational capacity
2020
$75K
For general operating support, and to help cover costs associated with CARES Act funding
2020
$75K
For general operating support, and for project support to help build organizational capacity
2020
$65K
LEDC - PHASE 2: LONG TERM COMMITMENT
2020
$50K
TO SUPPORT GENERAL OPERATIONS OVER TWO YEARS
2020
$50K
OPERATING SUPPORT FOR LATINO ECONOMIC DEVELOPMENT CENTER
2020
$50K
TO SUPPORT GENERAL OPERATIONS OVER TWO YEARS
2020
$45K
COMMUNITY DEVELOPMENT
2020
$35K
TRANSITIONAL GENERAL OPERATING SUPPORT
2020
$34K
General Support
2020
$28K
Small Business
2020
$25K
GENERAL PURPOSE
2020
$25K
SUPPORTING GRANT
2020
$25K
GENERAL OPERATING SUPPORT
2020
$10K
General Support
2020
$5K
AHOME - ACHIEVE YOUR DREAM
2020
$3K
Support for Latino business community impacted by COVID-19 and racial justice uprisings
2020
$2K
For general operating support, and to help cover costs associated with CARES Act funding
2020
$2K
For general operating support, and to help cover costs associated with CARES Act funding
2020
$500
GENERAL OPERATING
2020
$250
MATCHING GIFT CONTRIBUTION
2020
$100K
MULTIPLE GRANTS
2019
$50K
GENERAL SUPPORT
2019
$40K
FOR GENERAL OPERATIONS TO PROVIDE BUSINESS DEVELOPMENT, LENDING, AND WORKFORCE DEVELOPMENT PROGRAMS FOR LATINX IMMIGRANTS IN MINNESOTA.
2019
$75K
MULTIPLE GRANTS FOR MULTIPLE PURPOSES
2018
$10K
PROVISION OF BUSINESS DEVELOPMENT SERVICES
2018
$1K
TO SUPPOR THE AFFORDABLE HOUSING PRESERVATION PROGRAM
2018
$165K
LATINO SMALL BUSINESS DEVELOPMENT AND ACCELERATION - 348636
2017

Funded by

$9.4M from 52 funders · 121 grants · 2017–2024

Saint Paul & Minnesota Foundation

$1.4M · 6 grants · 2018–2024

The McKnight Foundation

$1.2M · 13 grants · 2020–2024

Greater Twin Cities United Way

$733K · 4 grants · 2020–2024

The Minneapolis Foundation

$706K · 5 grants · 2017–2024

Otto Bremer Trust

$575K · 4 grants · 2019–2023

Target Foundation

$480K · 4 grants · 2020–2024

The Bush Foundation

$368K · 2 grants · 2020–2023

Citi Foundation

$350K · 1 grant · 2020

Details

EIN510467167
NTEE codeL99
Subsection03
Ruling date2003-12
Formed2003
Employees24
Volunteers23
LATINO ECONOMIC DEVELOPMENT CENTER — Mission, Financials & Grants Received | Grantivo