Latin American Economic Development Association Inc

Organization Overview

Latin American Economic Development Association Inc is located in Camden, NJ. The organization was established in 1989. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Latin American Economic Development Association Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Latin American Economic Development Association 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 06/2023, Latin American Economic Development Association Inc generated $498.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $524.3k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

LAEDA IS DEDICATED: TO THE CREATION OF SMALL BUSINESS OWNERSHIP OPPORTUNITIES FOR ECONOMICALLY DISADVANTAGED MINORITIES, TO CONTRIBUTE TO THE GROWTH AND SUCCESS OF MINORITY OWNED SMALL BUSINESSES AND THE DEVELOPMENT OF THE MARKETPLACE IN THE COMMUNITIES WE SERVE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDE ASSISTANCE TO ECONOMICALLY DISADVANTAGED SMALL MINORITY BUSINESSES AND ASSISTANCE IN THE CREATION OF NEW SMALL MINORITY BUSINESSES WITHIN CAMDEN COUNTY, NJ. THIS IS ACCOMPLISHED THROUGH ENTREPRENURIAL TRAINING, RESEARCH, TECHNICAL ASSISTANCE AND COMMERCIAL DEVELOPMENT.


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Board, Officers & Key Employees

Name (title)Compensation
Krista Bey
Secretary
$0
Diana Perez
Member
$0
Jose Mercado
Board Chair
$0
Justin Deng
Treasurer
$0
Josue Castro
Member
$0
Raymond Lamboy
President & CEO
$90,000

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $326,081
All other contributions, gifts, grants, and similar amounts not included above$231,888
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$557,969
Total Program Service Revenue$0
Investment income $131
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income -$74,555
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 $498,545

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