Hispanic Economic Development Corporation

Nonprofit profile at a glance

EIN
431654693
IRS 990 coverage
2010–2021
Forms available
Form 990 2021
Location
Kansas City, MO, USA
Phone
8162213442
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Official website

Reported finances

Revenue
$759,273
Expenses
$677,379
Assets
$4,014,261
Liabilities
$831,571

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • PEDRO ZAMORA (EXECUTIVE DIRECTOR)

Highest reported compensation

  • PEDRO ZAMORA (EXECUTIVE DIRECTOR): $115,084 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To improve the lives of latinos within the greater Kansas city area through business development, and econcomic and community wealth creation initiatives. This fiscal year in response to the covid-19 pandemic, hedc expanded our services to include nagivating clients to housing assistance, provided health care testing and vaccinations, and direct access to healthy food resouces by opening a food pantry.

What it reported doing in 2021

To improve the lives of latinos within the greater Kansas city area through business development, and econcomic and community wealth creation initiatives.

Operating model

Revenue model
Donor-supported. 77% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 55
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 55.4%; rating input score 55
  • Program expense ratio: 61.3%; rating input score 61
  • Fundraising efficiency: $20.03 raised per $1 spent on fundraising; rating input score 55; 55th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90.9%; rating input score 91; 23rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 10.8%; rating input score 51; 51st percentile among comparable filings
  • Total-asset coverage ratio: 5.93; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 17%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: 6.9% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: 9.5% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: 5.2% per year; rating input score 100; 42nd percentile among comparable filings

Details

  • Where the money goes: 55.4% of revenue deployed · 61.3% of spending went to programs
  • Governance: 10 of 11 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $415K in reported program spending
  • Leadership: top reported pay $115K · 10 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 10 filing years from 2010 to 2021
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Financial Efficiency: Mission deployment rate scored 55/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 55/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Operating margin scored 51/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.