Spanish Education Development Center
- Assets
- $12.4m
- Revenue
- $5.4m
- Investments
- $149.5k
- Employees
- 67
- Location
- Washington, DC
- Founding
- 11/1971
- Data as of
- 06/2024
- EIN
- 23-7147887
Organization Overview
Spanish Education Development Center is located in Washington, DC. The organization was established in 1971. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2024, Spanish Education Development Center employed 67 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spanish Education Development Center 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 06/2024, Spanish Education Development Center generated $5.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $4.1m during the year ending 06/2024. While expenses have increased by 3.5% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LIFE-CHANGING EDUCATIONAL OPPORTUNITIES FOR LOW-INCOME IMMIGRANT FAMILIES PRIMARILY FROM LATIN AMERICA. BY DEVELOPING INNOVATIVE PROGRAMS TO MEET THE CHANGING NEEDS OF LATINOS AND THEIR CHILDREN, SED EMPOWERS FAMILIES TO EFFECTIVELY NAVIGATE A NEW, MULTILINGUAL, MULTICULTURAL WORLD. SED STRIVES TO HELP ITS STUDENTS GAIN THE KNOWLEDGE, SKILLS, AND CONFIDENCE NECESSARY TO LEAD PRODUCTIVE, SELF-SUFFICIENT LIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHILDREN'S PROGRAM: PROVIDES FULL DAY, YEAR-ROUND, QUALITY CHILD CARE AND BILINGUAL EDUCATIONAL PROGRAM TO CHILDREN AGES 3 MONTHS TO 4 YEARS-OLD (INFANT AND PRESCHOOL). IT ALSO PROVIDES THREE DAILY NUTRITIOUS MEALS APPROVED BY THE USDA APPROVED CACFP PROGRAM.
ADULT LANGUAGE PROGRAM - PROVIDES LANGUAGE AND LIFE SKILLS INSTRUCTION THAT PREPARES LOW-INCOME IMMIGRANT ADULTS TO USE ENGLISH EFFECTIVELY IN THEIR ROLES AS PARENTS, WORKERS, AND COMMUNITY MEMBERS THROUGH A VARIETY OF LEARNING EXPERIENCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Raymond A Ritchey President Emeritus | OfficerTrustee | 1 | $0 |
Diogenes R Rocha President | OfficerTrustee | 1 | $0 |
Jhon Pacheco Vice President | OfficerTrustee | 1 | $0 |
Alejandro Teran Treasurer | OfficerTrustee | 1 | $0 |
James Billings-Kang Secretary | OfficerTrustee | 1 | $0 |
Daniel Bonilla Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $890 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,680,536 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,681,426 |
| Total Program Service Revenue | $572,356 |
| Investment income | $139,083 |
| 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 | $5,406,412 |
| 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 | $3,127,249 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $110,005 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $185,712 |
| Travel | $4,168 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,761 |
| Interest | $174,781 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $138,324 |
| Insurance | $0 |
| All other expenses | $29,517 |
| Total functional expenses | $4,125,169 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,272,428 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $354,608 |
| 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 | $5,382,076 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $149,471 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $217,601 |
| Total assets | $12,376,184 |
| Accounts payable and accrued expenses | $297,888 |
| 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 | $3,538,988 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,836,876 |
| Net assets without donor restrictions | $7,967,099 |
| Net assets with donor restrictions | $572,209 |
| 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 | $12,376,184 |