Latino Business Action Network Inc
- Assets
- $3.1m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 6
- Location
- San Jose, CA
- Founding
- 08/2013
- Data as of
- 12/2022
- EIN
- 46-0649020
Organization Overview
Latino Business Action Network Inc is located in San Jose, CA. The organization was established in 2013. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Latino Business Action Network Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Latino Business Action Network 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 12/2022, Latino Business Action Network Inc generated $2.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.4% each year . All expenses for the organization totaled $2.4m during the year ending 12/2022. While expenses have increased by 11.7% per year over the past 6 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
LATINO BUSINESS ACTION NETWORK ( LBAN) IS A NONPROFIT ENTREPRENEURSHIP ORGANIZATION BASED IN SAN JOSE, CALIFORNIA. THEIR PURPOSE IS TO STRENGTHEN THE UNITED STATES BY IMPROVING THE LIVES OF LATINOS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION PROGRAM: LBAN'S SIGNATURE PROGRAM IS THE SLEI-ED BUSINESS SCALING PROGRAM. THE 8-WEEK PROGRAM AT STANFORD UNIVERSITY IS A UNIQUELY TRANSFORMATIVE EXPERIENCE FOR LATINO OWNERS OF GROWING BUSINESSES.
SUSTAINABILITY THE ORGANIZATION FUNDS DEVELOPMENT, PRODUCTION, AND CONTINUATION OF THE MOST ROBUST RESEARCH IN THE US ON THE STATE OF LATINO ENTREPRENEURSHIP ALONG WITH AND ORGANIZATION AUGMENTED STANFORD-BASED ONLINE EDUCATIONAL PROGRAM ASSISTING LATINO ENTREPRENEURS EFFECTIVELY SCALE THEIR COMPANIES AND DEVELOPMENT OF A NATIONAL ECOSYSTEM OF SCALED LATINX FIRMS ACROSS THE US
RESEARCH: LBAN PARTNERS WITH STANFORD UNIVERSITY GRADUATE SCHOOL OFBUSINESS TO LEAD AND SUPPORT GROUNDBREAKING RESEARCH THROUGH SLEIRESEARCH. THIS EXPLORES AND EXPANDS THE KNOWLEDGE OF LATINOENTREPRENEURSHIP ACROSS THE UNITED STATES.
ECOSYSTEM DEVELOPMENT: LBAN IS BUILDING AN EMPOWERING NATIONALECOSYSTEM OF LATINO ENTREPRENEURSHIP. THE FOUNDATION OF THE ECOSYSTEMIS THE HUNDREDS OF GRADUATES OF OUR BUSINESS SCALING PROGRAM WITH ASHARED MINDSET FOR GROWTH AND MUTUAL SUPPORT. ADDITIONALLY, THEECOSYSTEM INCLUDES NETWORKS OF MENTORS, CAPITAL PROVIDERS, ANDCORPORATE CONTACTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Jerry Poras Chairman Emeritus | OfficerTrustee | 10 | $0 |
Victor Arias Jr Chairman | OfficerTrustee | 10 | $0 |
Sol Truijillo Board Member | Trustee | 2 | $0 |
Rosa Santana Board Member | Trustee | 2 | $0 |
Prof Paul Oyer Board Member | Trustee | 2 | $0 |
Monika Mantilla Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Stanford Executive Education Initiative Education - Scaling Program | 12/30/22 | $266,000 |
Qualtrics Llc Survey Fielding - Data Collection | 12/30/22 | $270,000 |
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 | $1,613,134 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,613,134 |
| Total Program Service Revenue | $436,033 |
| Investment income | $1,658 |
| 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 | $2,061,825 |
| 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. | $219,167 |
| Compensation of current officers, directors, key employees. | $41,642 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $591,522 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $160,311 |
| Payroll taxes | $52,957 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,608 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $189,300 |
| Advertising and promotion | $8,371 |
| Office expenses | $28,450 |
| Information technology | $31,831 |
| Royalties | $0 |
| Occupancy | $66,554 |
| Travel | $74,478 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $185,838 |
| Interest | $4,124 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,434 |
| Insurance | $5,274 |
| All other expenses | $38,700 |
| Total functional expenses | $2,379,662 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,835,616 |
| Savings and temporary cash investments | $1,101,343 |
| Pledges and grants receivable | $188,766 |
| 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 | $11,681 |
| Net Land, buildings, and equipment | $5,189 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,567 |
| Total assets | $3,149,162 |
| Accounts payable and accrued expenses | $180,424 |
| 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 | $148,774 |
| Total liabilities | $329,198 |
| Net assets without donor restrictions | $2,739,964 |
| Net assets with donor restrictions | $80,000 |
| 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 | $3,149,162 |