Galeo Latino Community Development Fund Inc
- Assets
- $2.2m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 14
- Location
- Atlanta, GA
- Founding
- 07/2005
- Data as of
- 12/2021
- EIN
- 20-1565775
Organization Overview
Galeo Latino Community Development Fund Inc is located in Atlanta, GA. The organization was established in 2005. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Galeo Latino Community Development Fund Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Galeo Latino Community Development Fund Inc 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 12/2021, Galeo Latino Community Development Fund Inc generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 46.1% each year . All expenses for the organization totaled $915.8k during the year ending 12/2021. While expenses have increased by 33.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
IMMIGRATION REFORM AND VOTING RIGHTS, LEADERSHIP DEVELOPMENT AND
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerardo Gonzal CEO | OfficerTrustee | 20 | $59,694 |
Art Gambill Chairman | OfficerTrustee | 2 | $0 |
Jeffrey Ellman Secretary | OfficerTrustee | 2 | $0 |
Sarah Lopez Treasurer | OfficerTrustee | 2 | $0 |
Adriana Varela Vice Chair | OfficerTrustee | 2 | $0 |
Jason Esteves Member | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,726,710 |
| Noncash contributions included in lines 1a–1f | $545 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,726,710 |
| Total Program Service Revenue | $0 |
| Investment income | $1,114 |
| 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 | $1,727,824 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $430,088 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,057 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $11,188 |
| Office expenses | $49,927 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,189 |
| Travel | $18,287 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,259 |
| All other expenses | $356,794 |
| Total functional expenses | $915,789 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,154,279 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $4,788 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,159,067 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Other liabilities | $2,921 |
| Total liabilities | $2,921 |
| Net assets without donor restrictions | $2,156,146 |
| 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 | $2,159,067 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Galeo Latino Community Development Fund Inc has recieved totaling $1,768,463.
| Awarding Organization | Amount |
|---|---|
Organization Name not Listed PURPOSE: CIVIC | | $466,963 |
Mary Reynolds Babcock Foundation Incorporated Winstonsalem, NC PURPOSE: GENERAL OPERATING | $350,000 |
The Arthur M Blank Family Foundation Atlanta, GA PURPOSE: GENERAL OPERATING SUPPORT | $300,000 |
The Community Foundation For Greater Atlanta Inc Atlanta, GA PURPOSE: COMMUNITY IMPROVEMENT | $250,000 |
The Arthur M Blank Family Foundation Atlanta, GA PURPOSE: GENERAL OPERATING SUPPORT | $150,000 |
Neo Philanthropy Inc New York, NY PURPOSE: Program Grant | $125,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Christian Community Development Corporation Inc Memphis, TN | $275,024,548 | $28,566,509 |
Csra Economic Opportunity Authority Inc Augusta, GA | $4,657,645 | $27,091,304 |
Charleston Area Convention & Visitors Bureau Charleston, SC | $17,210,458 | $29,781,081 |
Neighborhood Improvement Project Inc Augusta, GA | $12,770,161 | $24,738,698 |
Action Pact Inc Waycross, GA | $10,194,672 | $25,026,911 |
Upper East Tennessee Human Development Agency Kingsport, TN | $7,143,102 | $23,146,809 |
Northwest Tennessee Economic Development Council Dresden, TN | $2,980,191 | $21,895,121 |
Tallatoona Community Action Partnership Inc Cartersville, GA | $2,878,907 | $21,403,724 |
Macon Bibb County Economic Opportunity Council Inc Macon, GA | $9,862,743 | $18,330,804 |
Economic Opportunity For Savannah Chatham County Area Inc Savannah, GA | $8,523,279 | $14,850,530 |
Waccamaw Economic Opportunity Council Inc Conway, SC | $5,439,118 | $14,126,176 |
Coastal Plain Area Economic Opportunity Authority Inc Valdosta, GA | $6,623,534 | $13,801,263 |