Latino Community Development Center
- Assets
- $2.3m
- Revenue
- $277.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Durham, NC
- Founding
- 08/2002
- Data as of
- 12/2022
- EIN
- 82-0551614
Organization Overview
Latino Community Development Center is located in Durham, NC. The organization was established in 2002. According to its NTEE Classification (P02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Latino Community 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 12/2022, Latino Community Development Center generated $277.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $927.9k during the year ending 12/2022. 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 COMMUNITY DEVELOPMENT CENTER PROMOTES FINANCIAL LITERACY, ACCESS TO FINANCIAL SERVICES, AFFORDABLE HOUSING, AND ECONOMIC DEVELOPMENT FOR THE LOW INCOME IMMIGRANT LATINO/HISPANIC POPULATION IN NORTH CAROLINA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FINANCIAL EDUCATION TO LOW INCOME COMMUNITIES TRADITIONALLY DENIED ACCESS TO FINANCIAL SERVICES. THERE WERE 619 PARTICIPANTS IN THE FINANCIAL EDUCATION PROGRAM AND 81 GRADUATES OF THE WORKSHOP SERIES IN 2022. LCDC CONTRIBUTED TO ITS RELATED ORGANIZATION'S SCHOLARSHIP FUND WHICH SUPPORTED 41 MEMBERS WITH A TOTAL OF $132,500 IN AWARDS IN 2022.
PROVIDE ACCESS TO FINANCIAL SERVICES TO LOW INCOME COMMUNITIES TRADITIONALLY LEFT OUT OF THE FINANCIAL SERVICES SECTOR.
AFFORDABLE HOUSING DEVELOPMENT, PRIMARILY REHABILITATION AND NEW CONSTRUCTION OF SINGLE FAMILY HOMES FOR LOW TO MODERATE INCOME FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Luis Pastor Executive Director And Treasurer | OfficerTrustee | 1 | $0 |
John Herrera Chair | OfficerTrustee | 1 | $0 |
Alejandro Lutz Secretary | OfficerTrustee | 1 | $0 |
Erika Bell Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $145,030 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $103,092 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $248,122 |
| Total Program Service Revenue | $0 |
| Investment income | $4,726 |
| 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 | $277,181 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $873,140 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $15,063 |
| 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 | $21,473 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| All other expenses | $871 |
| Total functional expenses | $927,874 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,079,427 |
| Pledges and grants receivable | $177,946 |
| Accounts receivable, net | $50,298 |
| 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 | $2,307,671 |
| Accounts payable and accrued expenses | $672,990 |
| Grants payable | $0 |
| Deferred revenue | $747 |
| 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 | $0 |
| Total liabilities | $673,737 |
| Net assets without donor restrictions | $1,457,982 |
| Net assets with donor restrictions | $175,952 |
| 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 | $2,307,671 |
Grants Awarded
Over the last fiscal year, Latino Community Development Center has awarded $58,852 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LATIN-19 PURPOSE: Improving health literacy in Durham NC to further an equitable community response to COVID-19, particularly in the Latino Community. | $33,852 |
LATIN-19 PURPOSE: COVID-19 emergency assistance services to marginalized communities in NC, particularly the Latino community. | $25,000 |