Latino Food Industry Association

Nonprofit profile at a glance

EIN
811752495
IRS 990-EZ coverage
2017–2023
Forms available
Form 990-EZ 2023, Form 990-N 2016
Location
Los Angeles, CA, USA
Phone
7148526800
Rating
89
Verdict
STRONG
Rating confidence
Moderate
Sector
Professional Societies & Associations

Reported finances

Revenue
$30,242
Expenses
$49,024
Assets
$96,312
Liabilities
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • LILLY ROCHA (BOARD MEMBER, PRESIDENT)

People named in this filing

  • RUBEN SMITH (BOARD MEMBER, CHAIRMAN)
  • JOE BENITES (BOARD MEMBER, SEC./TREASUR)
  • ROBERT ALANIZ (BOARD MEMBER. VICE PRES.)

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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The specific purposes of lfia are the following: a. To serve, represent, support and promote the role of latino entrepreneurs in all aspects of the food industry in the united states; b. To establish and maintain an organization that makes available to its members information on training, financing, and other resources and tools required to advance in the food industry; c. To promote and encourage latinos to network, participate and support each other in the programs and activities of the corporation; d. To inform and educate the corporation's membership regarding the regulatory and legal issues facing the food industry, and to work with governing agencies and legislatures to address membership concerns; e. To work with other companies and organizations in the food industry to represent the interest of latinos; andf. To participate in new technology, marketing, health and research projects targeted at the latino market in the united states.

What it reported doing in 2023

During the year lfia promoted, supported, and educated 1000s of latino owners, employees, and entrepreneurs in thriving in today's fast-paced world of the food and beverage industry.

Operating model

Revenue model
Donor-supported. 99% 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. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 92
  • Transparency & Controls: 100
  • Sustainability: 39
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 80%; rating input score 80

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -62.1%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 1.96; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -8.2% per year; rating input score 0; 31st percentile among comparable filings
  • Revenue growth: -9.9% per year; rating input score 0; 26th percentile among comparable filings
  • Asset growth: 3.8% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 80% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $39K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2017 to 2023
  • Contacts: How to reach this organization
  • 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 — Sustainability: Operating margin scored 12/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.