Loisaida Inc

What it reported doing in 2024

To address the serious economic and social disenfranchisement of poor and low income latino residents, with employment and training opportunities, comprehensive youth development initiatives. Since reopening in 2014 all our programs have been carefully curated and delivered by a core group of highly committed educators, artists, photographers, dancers, etc. Among this core group of freelance instructors and teaching artists are doctors, researchers and professors, an award wining theater troupe, montessori-certified teachers, among others. Delivered more than twenty (20) trans-generational community and youth events. Served five hundred (500) people that attended the center. Developed two distinct websites and a solid social media presence. Revamped and extended the loisaida inc. Annual festival.the new community center facility is approximately 10,000 feet on two levels within the 710 east 9th street building, which also has a residential component of 55 units of housing for youth aging out of the nyc foster care system. The first level of the totally accessible community center space has its own private entrance, office space, and houses the multimedia arts and technology. The performance/multipurpose space, dressing room, and complete galley kitchen, as well as accessible bathroom facilities, and two large private open air spaces, are located on this level. The second ground floor/cellar level, which has its own street access, houses additional office space and the teaching commercial kitchen, as well as three large multipurpose activity rooms, one of which will be a youth lounge and recreation space. The community center has its own elevator, which allows for ease of use, accessibility, and transport from both levels. Education & training capacity: our facility was created with education and training at the forefront of its core capabilities. We have accomplished this by mirroring the standards and requirement needed to become a certified training center for our major software packages. By accomplishing this task our students are given an opportunity to learn a multitude of applications that can foster their knowledge in the areas of media, writing, and office skills. One of our classroom/labs has been configured with specifications required to ultimately become an apple authorized training center. Production: our facility provides an in-house production and live studio/viewing space on site, and has the capacity to provide and support a wide breath of real world tools in the field of media. In exposing our youth to this level of capacity, we enhance their employability, entrepreneurial opportunities, and provide a foundation of knowledge for them that will be life-changing.

Financial Efficiency

• Mission deployment rate: 78.3%; rating input score 78
• Program expense ratio: 76.1%; rating input score 76
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 7 of 9 controls in place; rating input score 78
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: -2.9%; rating input score 28; 28th percentile among comparable filings
• Total-asset coverage ratio: 2.25; rating input score 68; 68th percentile among comparable filings
• Liabilities to assets ratio: 0.77; rating input score 9; 9th percentile among comparable filings
• Officer compensation ratio: 33.9%; rating input score 5; 5th percentile among comparable filings

Growth

• Program expense growth: 11.8% per year; rating input score 100; 68th percentile among comparable filings
• Revenue growth: 8.6% per year; rating input score 100; 61st percentile among comparable filings
• Asset growth: 16.2% per year; rating input score 100; 75th percentile among comparable filings