Latin Americans for Social and Economic Development Inc

Analysis

Latin Americans for Social and Economic Development Inc is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in July 1969, 57 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Latin Americans for Social and Economic Development Inc reported income of $1.2m and spending of $1.1m, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $884k to $1.2m (+35%), an average of +7.8% a year. The sharpest change came in the year to December 2022, when income rose by 27%. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Latin Americans for Social and Economic Development Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within MI. Charities of a similar size with the same main cause include Twin Cities Concert Association ($1.2m), Connecticut Network for Children and Youth Inc ($1.2m) and Positive Images ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% and program service revenue 2.5% of the total. Compensation of current officers, directors and key employees was $82k (7.5% of expenses). Other salaries and wages came to $524k. At year end it held assets of $2.0m against liabilities of $131k, net assets of $1.9m. It reported 32 employees.