The Northeast Ohio Hispanic Center for Economic Development

Nonprofit profile at a glance

EIN
341805510
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-EZ 2009
Location
Cleveland, OH, USA
Phone
2162814422
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Public, Societal Benefit

Reported finances

Revenue
$2,950,164
Expenses
$2,019,341
Assets
$8,207,692
Liabilities
$3,151,992

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • JENICE CONTRERAS (PRESIDENT/CE)

Highest reported compensation

  • JENICE CONTRERAS (PRESIDENT/CE): $150,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote hispanic business in the cleveland area through economic development, strategic partnerships, technical assistance, business educational training, and advocacy.

What it reported doing in 2024

Latino small business development center - to strengthen and stabilize commercial districts within the city of cleveland and provide technical assistance to start-up and existing hispanic businesses.

Operating model

Revenue model
Donor-supported. 83% 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. Some filing-based governance responses are negative or unanswered and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 86
  • Accountability: 90
  • Sustainability: 71
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62%; rating input score 62
  • Program expense ratio: 90.6%; rating input score 91
  • Fundraising efficiency: $61.35 raised per $1 spent on fundraising; rating input score 81; 81st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 13th 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 31.6%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 4.06; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0.38; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 7.4%; rating input score 39; 39th percentile among comparable filings

Growth

  • Program expense growth: 19.3% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: 19.8% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 26.9% per year; rating input score 100; 91st percentile among comparable filings

Details

  • Where the money goes: 62% of revenue deployed · 90.6% of spending went to programs
  • Governance: 8 of 8 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $1.8M in reported program spending
  • Leadership: top reported pay $150K · 8 people listed
  • Consistency: 32 of 32 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.
  • Moderate — Sustainability: Officer compensation ratio scored 39/100.