Latino Business Action Network Inc

Analysis

Latino Business Action Network Inc is a registered charity in United States, based in San Jose, CA. It received its IRS tax-exemption ruling in August 2013, 13 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Latino Business Action Network Inc reported income of $3.3m and spending of $2.7m, spending 82% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.0m to $3.3m (+67%), an average of +14% a year. The sharpest change came in the year to December 2021, when income rose by 121%. Over the whole period it spent 78% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Latino Business Action Network Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within CA. Charities of a similar size with the same main cause include Climb Transition Services a Non-Profit Corporation ($3.3m), Dyersville Industries Inc ($3.3m) and Hawaii Hotel Industry Foundation ($3.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 82% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $219k (8.2% of expenses). Other salaries and wages came to $810k. At year end it held assets of $4.0m against liabilities of $404k, net assets of $3.6m. It reported 8 employees.