Latino Business Foundation Silicon Valley

Analysis

Latino Business Foundation Silicon Valley is a registered charity in United States, based in San Jose, CA. It received its IRS tax-exemption ruling in April 2020, 6 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Latino Business Foundation Silicon Valley reported income of $766k and spending of $662k, spending 86% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $218k to $766k (+251%), an average of +52% a year. The sharpest change came in the year to December 2022, when income dropped by 100%. Over the whole period it spent 84% 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 Foundation Silicon Valley sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 77th percentile within CA. Charities of a similar size with the same main cause include Gaston Innovation Group Inc ($766k), Roanoke Economic Development Incorporated ($766k) and Kent Downtown ($766k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% and program service revenue 9.8% of the total. Compensation of current officers, directors and key employees was $138k (21% of expenses). Other salaries and wages came to $167k. It paid $88k in professional fundraising fees. At year end it held assets of $334k against liabilities of $20k, net assets of $314k. It reported 5 employees.