Organizations Filed Purposes:
To transform our community by creating economic opportunities for Latinos across the state of Minnesota. We provide a structure, support system and tool with which to promote sustainable communities.
To transform our community by creating economic opportunity for Latinos.
Business Development: Through its monthly business orientation sessions, LEDC provided information to entrepreneurs on the basics of starting a business feasibility steps, how LEDC can assist in the process, and the benefits of becoming a member of LEDC. Through LEDC micro-entrepreneur trainings, there is a session that provides information on how to prepare for a business loan either through LEDC, a traditional lender (i.e. a bank), or a non-traditional lender (i.e. another community development non-profit organization). Over 1,000 hours of technical assistance were provided to start-up and existing businesses in twin cities area and more than 200 hours in greater Minnesota. LEDC provides a wide range of services for new and expanding businesses through one-on-one coaching. Areas of coaching include business planning, financial matters, cash flow needs, financial statements interpretation and marketing. Technical assistance is offered to clients when they are ready to start the process of becoming business owners.
Education and Training: In 2019, 94 people participated in 41 micro-entrepreneurship training sessions, totaling 82 hours of training and 3,952 hours of accumulated individual training. Aspiring entrepreneurs received additional support from our business development team, which consisted in 260 hours of technical assistance, 195 hours of assessment support, and 233 hours of follow up through outreach. In total, our clients received 4,640 hours of business development support.Our academy also provided GED and English classes. Outcomes for these programs are as follows: We served 31 students in our GED program. We provided 96 sessions, totaling 768 hours of group training, and 11,904 hours of cumulative training.Lastly, we served 5 students in our ESL program. We provided 20 training sessions, totaling 40 hours of group training and 200 hours of cumulative training.
Lending Programs: For 2019, 14 loan packages were approved and closed, totaling $659,791.00 disbursed by LEDC. The funds for these loans came from LEDC's loan pool. Fifteen loans were paid in full. Through partnerships, additional funds were leveraged from state programs, local banks and community lenders. Over 90K came from DEED/ELP as matching funds. 27 thousand disbursed by RFA in loans for farmers. Over 2 million dollar leveraged. 2019 CDFI Certified Lender. From its creation until 12/31/19, LEDC has disbursed over 5 million dollars to support Latino owned businesses.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Henry Jimenez | Executive Director | 40 | $122,500 |
| Sonia Ortega | Director | 1 | $0 |
| Andre Goodlet | Director | 1 | $0 |
| Tony Vannicola | Director | 1 | $0 |
| John Pacheco | Director | 1 | $0 |
| Eduardo Mozqueda | Director | 1 | $0 |
| Aileen Kasper | Director | 1 | $0 |
| Ambar Hanson | Director | 1 | $0 |
| Miguel Garate | Director | 1 | $0 |
| Victoria Blanco | Director | 1 | $0 |
| Uri Camarena | Secretary | 1 | $0 |
| Christina Jennings | Treasurer | 1 | $0 |
| Maria Mejia De Boyle | Vice Chair | 1 | $0 |
| Christopher Romano | Chair | 1 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202002819349301705_public.xml