Civic Intelligence

Latino Economic Development

EIN 88-1698006 • 501(c)3 • Springfield, MA

Profile

Mobilizing community resources to assist those in need in the community.

20 Fort StreetSpringfield, MA 01103

latinoeconomicdevelopment.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

94th percentile

1.29x

Higher debt load relative to assets than 94% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

96th percentile

1.37x

Higher debt load relative to revenue than 96% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

30th percentile

-11%

Higher net margin than 30% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

81st percentile

$0

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

100th percentile

18030%

Faster asset growth than 100% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

100th percentile

16921%

Faster revenue growth than 100% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$455,053

Up $452,543 (+18030%) from 2023

Liabilities

Up

$587,404

Up $499,268 (+566%) from 2023

Net Assets

Down

-$132,351

Down $46,725 (-55%) from 2023

Operations
Liabilities / Revenue96th percentileNet Margin30th percentile

Revenue

Up

$427,217

Up $424,707 (+16921%) from 2023

Expenses

Up

$473,942

Up $221,553 (+88%) from 2023

Net Income

Up

-$46,725

Up $203,154 (+81%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth100th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600K$400K$200K$0-$200KAssets 2022: $164,253Liabilities 2022: $0Net Assets 2022: $164,2532022Assets 2023: $2,510Liabilities 2023: $88,136Net Assets 2023: -$85,6262023Assets 2024: $455,053Liabilities 2024: $587,404Net Assets 2024: -$132,3512024

Highlighted filing

2024

Assets$455,053
Liabilities$587,404
Net Assets-$132,351
Open 2024 Filing

Operations Trend

Revenue Growth100th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0-$200K-$400KRevenue 2022: $175,000Expenses 2022: $10,747Net Income 2022: $164,2532022Revenue 2023: $2,510Expenses 2023: $252,389Net Income 2023: -$249,8792023Revenue 2024: $427,217Expenses 2024: $473,942Net Income 2024: -$46,7252024

Highlighted filing

2024

Revenue$427,217
Expenses$473,942
Net Income-$46,725
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$455,053
Liabilities
$587,404
Net assets
-$132,351
Revenue
$427,217
Expenses
$473,942
Net income
-$46,725
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.55$5.87$1.32$4.27$4.74$0.47
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.03$0.88$0.86$0.03$2.52$2.50
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.64$0.00$1.64$1.75$0.11$1.64
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Jul 8, 2025
Return Version
2023v6.0
Gross Receipts
$427,217
Mission and Program Overview

Mission

Mobilizing community resources to assist those in need in the community.

To develop and support latino businesses in massachusetts; to promote and support the economic, civic and social welfare of the latino community in massachusetts; to promote and support economic growth business development in the latino community in massachusetts; to engage in any other civic, educational, charitable or benevolent activity permitted under the provisions of chapter 180 of the general law of the commonwealth.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable-$20,131-
Cash and Non-Interest-Bearing Accounts$2,510$9,922▲ $7,412
Total Assets$2,510$455,053▲ $452,543
Other Assets Total-$425,000-
Liabilities
Other Liabilities-$496,484-
Accounts Payable and Accrued Expenses$88,136$90,920▲ $2,784
Total Liabilities$88,136$587,404▲ $499,268
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-85,626$-132,351▼ $46,725
Total Net Assets Fund Balance$-85,626$-132,351▼ $46,725
Total Liabilities and Net Assets / Fund Balance$2,510$455,053▲ $452,543

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$425,000--
Compensation and Service Providers
Top Officer Pay81st percentile

Board Members and Trustees

NameTitle
Daniel KnapikPresident
Jorge ColonDirector
Norman RoldanDirector
Jose ClaudioClerk
Lydia MartinezCurrent Pres
Beth ChagueTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$385,000
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$42,217
All Other Contributions
$22,500
Change in Net Assets
$-46,725
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$336,724
Salaries, Compensation, and Employee Benefits$137,218
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$137,218--$137,218
Occupancy$81,869--$81,869
All Other Expenses$11,885$24,984-$36,869
Other Expenses$19,000$45,000-$19,000
Travel$7,500--$7,500
Total Functional Expenses$403,958$69,984$0$473,942
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Dut to Pfc$466,019
Due to Pfc (loan)$24,686
Due to New England Farm Workers$5,779
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The board reviews the tax return prior to filing with the taxing authorities.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Latino Economic Development
EIN
88-1698006
Phone
4132722200
Address
20 FORT STREET, SPRINGFIELD, MA 01103

Signing Officer

Name
Lydia Martinez
Title
Current President
Phone
4132722200
Signed
2025-07-08

Organization Details

Principal Officer
Daniel Knapik
Formed
2022
Legal Domicile
Ma
Voting Board Members
6
Independent Board Members
6
Employees
5

Preparer

Firm
Burkhart Pizzanelli Pc
Address
201 PARK AVE SUITE 2, WEST SPRINGFIELD, MA 01089-1597
Preparer
Julie Quink
Phone
4137349040
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization is a not-for-profit corporation organized under massachusetts general laws, chapter 180. The organization is classified as a 501(c)(3) organization under the internal revenue code. As such, the organization is exempt from federal and state corporate income taxes and various federal and state excise and sales taxes. The organization would recognize interest and penalties associated with any uncertain tax positions as interest and other expense, respectively, if applicable. As of june 30, 2024 the organization has not recorded any amounts related to unrecognized income tax benefits or accrued interest and penalties. The organization's informational returns are subject to examination by taxing authorities for all years ending on or after june 30, 2021.”

Raw XML Appendix310 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd001103
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0LATINOECONOMICDEVELOPMENT.ORG/
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0LYDIA MARTINEZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CURRENT PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum04132722200
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-07-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LATINO ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION INC
ReturnHeader/Filer/BusinessNameControlTxt0LATI
ReturnHeader/Filer/EIN0881698006
ReturnHeader/Filer/PhoneNum04132722200
ReturnHeader/Filer/USAddress/AddressLine1Txt020 FORT STREET
ReturnHeader/Filer/USAddress/CityNm0SPRINGFIELD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd001103
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0042929980
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BURKHART PIZZANELLI PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0201 PARK AVE SUITE 2
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WEST SPRINGFIELD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0010891597
ReturnHeader/PreparerPersonGrp/PhoneNum04137349040
ReturnHeader/PreparerPersonGrp/PreparationDt02025-07-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JULIE QUINK
ReturnHeader/ReturnTs02025-07-21T15:16:07-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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