Latino Economic Development Center

“Members of ledc can receive technical assistance during the process of starting a new business or during the expansion of one already existing through advisement in the following areas: leasing contracts negotiation; business purchase or rent negotiation; business registration to the secretary of state; accounting systems establishment; assistance regarding state permits and licenses; assistance during diagram elaboration; internet investigation of providers and distributors; searching for potential providers; and assistance with loan packages.”

“There is only one class of voting rights. All members have one vote. The members elect the members of the governing body.”

“The finance committee reviews the form 990 and presents it to the entire board of directors, at which time a vote is taken to approve the form 990.”

“Board members are required to sign and document annually their understanding and compliance with the written conflict of interest policy. At board meetings, potential for conflict of interest issues are discussed whenever applicable, if necessary.”

“The 990 is available for review on guidestar.org. Additionally, governing documents, conflict on interest policies, and financial statements are available at the organization's offices upon request.”

“Consultant: program service expenses 188,711. Management and general expenses 94,895. Fundraising expenses 32,188. Total expenses 315,794. Professional services: program service expenses 0. Management and general expenses 1,800. Fundraising expenses 0. Total expenses 1,800. Other professional fees: program service expenses 1,038. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,038.”

“The organization has a finance committee that reviews, approves and presents the audited financial statements to the entire board of directors for approval. There have been no changes in this process from prior years.”