Local Enterprise Assistance Fund Inc
- Assets
- $26.2m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 12
- Location
- Boston, MA
- Founding
- 08/1982
- Data as of
- 05/2023
- EIN
- 04-2763724
Organization Overview
Local Enterprise Assistance Fund Inc, operating under the name Leaf, is located in Boston, MA. The organization was established in 1982. According to its NTEE Classification (J19) the organization is classified as: Support N.E.C., under the broad grouping of Employment and related organizations. As of 05/2023, Leaf employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Leaf is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 05/2023, Leaf generated $3.5m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $2.9m during the year ending 05/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
NON-PROFIT COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION PROVIDING LOW COST FINANCING AND TECHNICAL ASSISTANCE TO WORKER-OWNED COOPERATIVES AND COMMUNITY-OWNED BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEAF'S FINANCING ACTIVITIES ARE DIRECTED TOWARDS COMPANIES THAT HAVE THE FOLLOWING FOCUS:1) HEALTHY FOOD PRODUCTS;2) EMPOWERMENT OF LOW-INCOME PERSONS TO CREATE AND MANAGE THEIR OWN BUSINESS;3) INITIATIVES THAT DEMONSTRATE CONCERN FOR THE EMVIROMENT;4) EMPLOYEMENT TRAINING AND PLACEMENT OF LOW-INCOME WORKERS; AND5) COMMUNITY COOPERATIVES THAT CREATE JOBS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christine Clamp Director & Chairperson | OfficerTrustee | 0 | $0 |
Damilola Odetola Director & Treasurer | OfficerTrustee | 0 | $0 |
Alexander Pyle Director & Clerk | OfficerTrustee | 0 | $0 |
David Hammer Director | Trustee | 0 | $0 |
Shelley Miller Director | Trustee | 0 | $0 |
Kerwin Tesdell Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,729,040 |
| All other contributions, gifts, grants, and similar amounts not included above | $800,200 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,529,240 |
| Total Program Service Revenue | $786,751 |
| Investment income | $208,756 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,524,747 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $84,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,124,875 |
| Compensation of current officers, directors, key employees. | $163,107 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $298,297 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,708 |
| Fees for services: Accounting | $154,365 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $107,010 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $66,989 |
| Travel | $32,481 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $361,178 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,918,153 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,923,994 |
| Savings and temporary cash investments | $9,224,204 |
| Pledges and grants receivable | $225,000 |
| Accounts receivable, net | $1,757,162 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $34,750 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $69,986 |
| Other assets | $12,003,800 |
| Total assets | $26,238,896 |
| Accounts payable and accrued expenses | $3,621,470 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $11,795,459 |
| Other liabilities | $0 |
| Total liabilities | $15,486,915 |
| Net assets without donor restrictions | $10,751,981 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $26,238,896 |
Grants Awarded
Over the last fiscal year, Local Enterprise Assistance Fund Inc has awarded $257,500 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
WELLS FARGO VARIOUS DONEES PURPOSE: GRANT TO SUPPORT ACTIVITIES OF ORGANIZATION | $150,000 |
CASABE FRUITS & DELICATESSEN PURPOSE: GRANT TO SUPPORT ACTIVITIES OF ORGANIZATION | $40,000 |
SUPREME MARKET PURPOSE: GRANT TO SUPPORT ACTIVITIES OF ORGANIZATION | $15,000 |
CITY OF BOSTON VARIOUS DONEES PURPOSE: GRANT TO SUPPORT ACTIVITIES OF ORGANIZATION | $40,000 |
EASTIE FARM PURPOSE: GRANT TO SUPPORT ACTIVITIES OF ORGANIZATION | $12,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Labor And Industry For Education Inc Cedarhurst, NY | $20,765,330 | $11,004,190 |
New York State United Teachers Building Corp Latham, NY | $38,847,942 | $4,921,138 |
Local Enterprise Assistance Fund Inc Boston, MA | $26,238,896 | $3,524,747 |
Apwu Local 10 Building Corporation New York, NY | $9,136,936 | $2,013,087 |
New York Association Of Training And Employment Professionals Inc Albany, NY | $656,474 | $1,213,830 |
Supercon Inc Voluntary Employee Benefit Tr Shrewsbury, MA | $1,169,230 | $1,419,557 |
Timber Framers Guild Inc Alstead, NH | $545,591 | $620,579 |
Ibpat Training Realty Trust Roslindale, MA | $2,494,679 | $901,494 |
Labor Management Cooperation Fund Glens Falls, NY | $221,940 | $0 |
Roofers Local 22 Building Fund Rochester, NY | $331,764 | $0 |
United Hispanic Construction Workers Inc Bronx, NY | $48,832 | $0 |
Center For Human Development Bd Chd Bd Inc Jackson Heights, NY | $299 | $0 |