Latino Economic Development Center

Analysis

Latino Economic Development Center is a registered charity in United States, based in Saint Paul, MN. It received its IRS tax-exemption ruling in December 2003, 23 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 Economic Development Center reported income of $7.0m and spending of $3.5m, leaving 50% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.1m to $7.0m (+228%), an average of +35% a year. The sharpest change came in the year to December 2020, when income rose by 465%. Over the whole period it spent 82% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Latino Economic Development Center sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MN. Charities of a similar size with the same main cause include Citizens Inn Inc ($7.0m), Affordable Housing Alliance II Inc ($7.0m) and Stephen Center Inc ($7.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 5.3% of the total. Compensation of current officers, directors and key employees was $363k (10% of expenses). Other salaries and wages came to $631k. At year end it held assets of $15.4m against liabilities of $5.5m, net assets of $10.0m. It reported 22 employees.