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Latino Economic Development Center

Transform our community by creating economic opportunity for Latinos.

Mission Statement
Review Completed: 7/18/2012
1516 East Lake Street
Suite 201
Minneapolis, MN 55407
Phone: 612 724-5332
Fax: 612 724-5342
EIN 51-0467167
Principal Staff Ramon Leon,
Number of Full-Time Equivalents (FTE) 12
Number of Volunteers 6
Number of Clients Served 650
Affiliations LEDC is certified by the US Department of Treasury as a Community Development Financial Institution (CDFI). LEDC is also certified by the OIC America as an Opportunities Industrialization Center (OIC).
General Information
Board Chair Enrique Garcia
Number of Board Members 15
Board meetings with quorum 6
Average Member Attendance at Board Meetings 10.67
Publicly Available Documents Most Recent 990
Most Recent Audit
Board
Accomplishments
LEDC is a membership organization that provides the structure and tools to more fully engage Latinos in the social and economic mainstream of American life, contribute to the larger community, and build the assets of Latino families. We pursue an integrated, three-part approach to this mission. 1. Strengthen business fundamentals: technical assistance for business success. We provide services tailored to the changing needs of entrepreneurs at different stages of business growth. 2. Create the conditions under which businesses can prosper: community organizing for business success. 3. Build on cultural strength and business success to increase community assets. This model, combining a robust local platform with a “train the trainer” approach, has four strengths: • It builds local capacity to provide business development services. • It enables LEDC to use its resources more efficiently. • Business assistance can be provided in more regions of Minnesota where the Latino population is growing. • Strategies can be tailored to specific local opportunities. • Financial sustainability is more likely when these services are an integral part of established community organizations.
Current Goals
I. ENTREPENEUR TRAINING AND SUPPORT. To build an strong, socially responsible business community II. REAL ESTATE . To promote responsible Real estate ownership among the Latino community. III. ENTERPRISE DEVELOPMENT. To promote innovative enterprise development opportunities IV. COMMUNITY BUILDING. To build a prosperous, Latino community, and incorporate it into the American Society and culture.
Community or Constituency Served
Latino community of Minneapolis-St. Paul and Greater Minnesota
Geographic Area Served
Minnesota
Impact and Programs

3 Year Average Expenses

Program Services: $748,410 80.6%
Management: $141,372 15.2%
Fundraising: $38,597 4.2%

Unrestricted Net Assets

2011 2010 2009
End of Year: $157,876 $192,727 $128,267
Beginning of Year $192,727 $128,267 $186,933
Difference ($34,851) $64,460 ($58,666)
Unrestricted Net Assets (End of Year), Current 990 $157,876
Based on information provided on 2009 to 2011
Financials
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List of Standards Met