Overview
What is Latin American Economic Development Association Inc?
Latin American Economic Development Association Inc, based in Camden, New Jersey, is a nonprofit organization dedicated to empowering economically disadvantaged minority groups. Their mission involves fostering small business ownership opportunities, contributing to the growth of minority-owned businesses, and promoting the development of local marketplaces within their served communities. They accomplish this through various means, including entrepreneurial training, research, technical assistance, and commercial development. LAEDA's primary goal is to enhance the economic, educational, and social status of residents, primarily in the City of Camden, New Jersey, by creating employment opportunities, lessening societal issues, and fostering community-wide concern for these issues. The organization, with a team of 11 employees, works tirelessly toward its purpose of expanding opportunities and improving the quality of life in underserved communities.
Official website here: www.laeda.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97%, Four-Star out of Four Star rating.
The Latin American Economic Development Association Inc has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and finance. With a perfect score of 100% for having an independent board and zero instances of material asset diversion, the organization demonstrates a high level of governance and transparency in its operations.
The charity's overall score of 97% is primarily derived from its Accountability & Finance metrics, indicating that it effectively utilizes its resources with a program expense ratio of 82.70%. This suggests that a significant portion of its funding goes directly into its programs, which is beneficial for its mission and the communities it serves.
While the rating highlights many strengths, such as comprehensive policy listings and a favorable liabilities to assets ratio of 42.44%, it's important to note that the score is based solely on financial accountability. No qualitative data about program effectiveness or impact was included, which could offer a more rounded view of the organization's overall performance.
This AI summary has been generated from information found on Charity Navigator.
Is Latin American Economic Development Association Inc legitimate?
Latin American Economic Development Association Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Latin American Economic Development Association Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $110,817
Professional Fundraising Fees: $0
Other Salaries and Wages: $206,228
For more financial information, click here
Official website here: www.laeda.com
What is the mission statement of Latin American Economic Development Association Inc?
The Latin American Economic Development Association Inc, as a non-profit organization, is committed to creating opportunities for small business ownership among economically disadvantaged minorities. Its mission is to contribute to the growth and success of these minority-owned businesses, thereby fostering the development of the marketplace in the served communities. The association aims to enhance the economic, educational, and social levels of disadvantaged residents, primarily from minority communities, and stimulate employment creation and expansion in these communities. It encourages a community-wide interest and concern for the challenges faced by these residents, with the objective of expanding educational and economic opportunities, reducing issues like sickness, poverty, crime, and environmental degradation, and minimizing racial tensions.
Official website here: www.laeda.com
Who is the CEO of Latin American Economic Development Association Inc?
Marc Snyderman is the Treasurer of Latin American Economic Development Association Inc. The CEO's salary of Latin American Economic Development Association Inc is $88,269 and their total compensation is $110,817.
Official website here: www.laeda.com
What is the revenue of Latin American Economic Development Association Inc?
Latin American Economic Development Association Inc's revenue in 2022 was $540,206.
Official website here: www.laeda.com
Who are the executives of Latin American Economic Development Association Inc and what are their salaries?
The average compensation at Latin American Economic Development Association Inc during 2022 was $28,822. There are 11 employees and 3 volunteers at Latin American Economic Development Association Inc.
Here are 9 key members and their salaries (Latin American Economic Development Association Inc's CEO's salary is $88,269 and their total compensation is $110,817):
- Compensation: $88,269
- Related: $0
- Other: $22,548
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.laeda.com
Where can I find the form 990 for Latin American Economic Development Association Inc?
Latin American Economic Development Association Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.laeda.com
Learn more at the official website: www.laeda.com
Mission Statement of Latin American Economic Development Association Inc
The Latin American Economic Development Association Inc, abbreviated as LAEDA, is a non-profit economic development organization dedicated to creating opportunities for small business ownership among economically disadvantaged minorities. Its mission is twofold: firstly, to contribute to the growth and success of these minority-owned businesses, thereby aiding in the development of the marketplace within the communities they serve. Secondly, LAEDA aims to raise the economic, educational, and social levels of economically disadvantaged residents, primarily from the minority community, in an effort to foster employment creation initiatives, expand the job base, and promote community-wide interest and concern for their challenges. The ultimate goal is to provide expanded educational and economic opportunities, lessen issues such as sickness, poverty, crime, and environmental degradation, and reduce racial tensions.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Latin American Economic Development Association Inc's impact is evident in its dedication to creating small business ownership opportunities for economically disadvantaged minorities, contributing to the growth and success of minority-owned small businesses, and fostering the development of the marketplace in the communities it serves. Through entrepreneurial training, research, technical assistance, and commercial development, this organization in Camden County, NJ, plays a vital role in providing assistance to economically disadvantaged small minority businesses and supporting the establishment of new small minority businesses. Its mission to raise economic, educational, and social levels among minority communities, particularly in Camden, New Jersey, reflects a commitment to enhancing the overall well-being and prosperity of the region. This nonprofit's focus on community improvement is seen in its efforts to address issues such as poverty, crime, and environmental degradation while promoting employment creation initiatives and expanding economic opportunities for disadvantaged residents.
This information is meant to be a general summary of Latin American Economic Development Association Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $116
- Gross Receipts: $741,063
Assets and Liabilities:
- Total Assets: $1,526,861
- Total Liabilities: $657,013
- Net Assets: $869,848
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
1987
Phone
(856) 338-1177Principal Officer
Marc Snyderman
Main Address
433 MARKET STREET SUITE 202, CAMDEN, NJ, 08102
Website
www.laeda.comNTEE Category
Code: S43Z - Community improvement
If you are a representative of Latin American Economic Development Association Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.