Latin American Economic Development Corp of the Piedmont Atlantic Region
Nonprofit profile at a glance
- EIN
- 205648805
- IRS 990-EZ coverage
- 2015–2017
- Forms available
- Form 990-EZ 2017, Form 990-N 2014
- Location
- Charlotte, NC, USA
- Phone
- 7044513978
- Rating
- 86
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Chambers of Commerce & Business Leagues
Reported finances
- Revenue
- $98,933
- Expenses
- $91,712
- Assets
- $13,753
- Liabilities
- $1,725
Source: IRS Form 990-EZ. Selected filing: tax year 2017. Amounts in USD.
Leadership & pay
8 people listed
People named in this filing
- JULIO COLMENARES (CHAIR)
- MANUEL RODRIGUEZ (VICE-CHAIR)
- DAVID JONES (TREASURER)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Capacity building and economic opportunity to accelerate the impact of the latino community in our region and the southeast
What it reported doing in 2017
Eastland mall redevelopment. Given the current challenges of economic mobility in charlotte and the opportunities and the east corridor revitalization the former eastland mall location offers after its purchase and demolition by the city four years ago, in march 2016 the laedc commissioned a new vision for the site. We engaged world class architect 2016 pritzker award winner, alejandro aravena, to create a 21st century vision to co-create the former iconic eastland mall site, once the jewell of the southeast, into an economic opportunity and social innovation hub. The shape of the site as a triangle itself indicates to be a delta of opportunities and a catalyst of change. The city of charlotte owns the property now and the laedc engaged with the mayor and the city's senior economic development team in order to align the city and alejandro's visions. The developers and the city are looking at the site now as an economic opportunity and innovation hub that includes micro development and incremental development and an inclusive intrgrated model that leverages the entrepreneurial and demographic diversity assets of the corridor.
Operating model
- Revenue model
- Donor-supported. 100% 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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 96
- Transparency & Controls: 82
- Sustainability: 34
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 92.7%; rating input score 93
- Program expense ratio: 100%; rating input score 100
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: 7.3%; rating input score 59; 59th percentile among comparable filings
- Total-asset coverage ratio: 0.15; rating input score 13; 13th percentile among comparable filings
- Liabilities to assets ratio: 0.13; rating input score 21; 21st percentile among comparable filings
- Officer compensation ratio: 59.2%; rating input score 2; 2nd percentile among comparable filings
Growth
- Program expense growth: 55.7% per year; rating input score 100; 95th percentile among comparable filings
- Revenue growth: -0.2% per year; rating input score 0; 53rd percentile among comparable filings
- Asset growth: 65% per year; rating input score 100; 97th percentile among comparable filings
Details
- Where the money goes: 92.7% of revenue deployed · 100% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 4 filed program accomplishments · $92K in reported program spending
- Leadership: top reported pay $0 · 8 people listed
- Consistency: 8 of 8 current checks pass
- Schedules: 3 filed schedules
- Filing history: 3 filing years from 2015 to 2017
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- 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.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 13/100.
- Review — Sustainability: Operating margin scored 59/100.
- High — Sustainability: Officer compensation ratio scored 2/100.
- High — Sustainability: Liabilities to assets ratio scored 21/100.