Latino Education Advancement Foundation

Analysis

Latino Education Advancement Foundation is a registered charity in United States, based in San Jose, CA. It received its IRS tax-exemption ruling in September 2019, 7 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Latino Education Advancement Foundation reported income of $4.9m and spending of $5.2m, spending 106% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $3.9m to $4.9m (+25%), an average of +5.7% a year. The sharpest change came in the year to June 2022, when income dropped by 28%. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Latino Education Advancement Foundation 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 92nd percentile, and in the 92nd percentile within CA. Charities of a similar size with the same main cause include Five Smooth Stones Foundation ($4.9m), Saint Paul Conservatory for Performing Artists ($4.9m) and Walnut Hills High School Alumni Foundation ($4.9m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 52% of the total. Compensation of current officers, directors and key employees was $165k (3.2% of expenses). Other salaries and wages came to $823k. It paid $3,720 in professional fundraising fees. At year end it held assets of $37.6m against liabilities of $15.9m, net assets of $21.6m. It reported 16 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.