Overview
What is Hispanic Economic Development Corporation?
The Hispanic Economic Development Corporation, located in Kansas City, Missouri, is a dedicated nonprofit organization aimed at enhancing the lives of Hispanics within the greater Kansas City area. Their primary focus lies in business development, economic, and community wealth creation initiatives. During the recent COVID-19 pandemic, they expanded their services to assist their clients with housing support, administered health care testing and vaccinations, and established a food pantry to provide direct access to healthy food resources. With a team of eight employees, the Hispanic Economic Development Corporation remains committed to uplifting the Hispanic community in Kansas City.
Official website here: www.kchedc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars
The Hispanic Economic Development Corporation has earned a "Needs Improvement" rating with a score of 72%. This indicates that while the organization has some strong governance practices, there are significant areas that require attention, especially in financial transparency. The organization benefits from a highly independent board, which is a positive aspect of its governance structure.
Strengths noted include a 90% independent board composition and strong policies related to conflict of interest, whistleblower protection, and document retention. Additionally, there are no reported material diversions of assets, indicating that the organization is managing its resources responsibly. However, the absence of financial statements and missing tax forms on the organization's website raise concerns about financial accountability and transparency.
The program expense ratio stands at 62.59%, suggesting that a majority of funds are directed towards program services. However, the lack of accessible financial documentation can hinder potential donors' and stakeholders' ability to fully evaluate the organization's financial health. Overall, while the Hispanic Economic Development Corporation demonstrates solid governance, improving financial transparency would significantly enhance its standing.
This AI summary has been generated from information found on Charity Navigator.
Is Hispanic Economic Development Corporation legitimate?
Hispanic Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hispanic Economic Development Corporation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $280,470
For more financial information, click here
Official website here: www.kchedc.org
What is the mission statement of Hispanic Economic Development Corporation?
The Hispanic Economic Development Corporation's mission is centered around improving the lives of Latinos in a broader context. This is achieved through business development initiatives and efforts to create economic and community wealth. In response to the COVID-19 pandemic, the corporation has expanded its services to provide assistance in navigating housing issues, offer health care testing and vaccinations, and directly provide access to healthy food resources by establishing a food pantry.
Official website here: www.kchedc.org
Who is the CEO of Hispanic Economic Development Corporation?
Pedro Zamora is the Executive Director of Hispanic Economic Development Corporation.
Official website here: www.kchedc.org
What is the revenue of Hispanic Economic Development Corporation?
Hispanic Economic Development Corporation's revenue in 2022 was $759,273.
Official website here: www.kchedc.org
Who are the executives of Hispanic Economic Development Corporation and what are their salaries?
The average compensation at Hispanic Economic Development Corporation during 2022 was $35,059. There are 8 employees and 10 volunteers at Hispanic Economic Development Corporation.
Here are 10 key members and their salaries:
- Compensation: $86,900
- Related: $0
- Other: $28,184
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.kchedc.org
Where can I find the form 990 for Hispanic Economic Development Corporation?
Hispanic Economic Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.kchedc.org
Learn more at the official website: www.kchedc.org
Mission Statement of Hispanic Economic Development Corporation
The Hispanic Economic Development Corporation, abbreviated as HEDC, is committed to enhancing the lives of Latinos residing in the greater Kansas City area. Their mission is centered around stimulating business growth, fostering economic prosperity, and promoting community well-being through various development and wealth creation initiatives. During this fiscal year, in response to the COVID-19 pandemic, HEDC expanded its services to include guiding clients towards housing assistance. Furthermore, they have provided critical health care testing and vaccinations, and established a food pantry to ensure direct access to nutritious food resources for the community.
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Impact
July, 2024
The Hispanic Economic Development Corporation has made a significant impact on the lives of Latinos in the Greater Kansas City area through its focus on business development and economic and community wealth creation initiatives. By providing support and resources to Latino entrepreneurs, the organization has contributed to economic empowerment and growth within the community.
Additionally, in response to the COVID-19 pandemic, the Hispanic Economic Development Corporation expanded its services to include assisting clients with housing assistance, providing health care testing and vaccinations, and offering direct access to healthy food resources through a food pantry. This demonstrates the organization's commitment to addressing the evolving needs of the community and supporting individuals during challenging times. Overall, the Hispanic Economic Development Corporation's work has played a vital role in fostering economic stability, health, and well-being among Latinos in the Greater Kansas City area.
This information is meant to be a general summary of Hispanic Economic Development Corporation. 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: $12,846
- Program Service Revenue: $13,765
- Gross Receipts: $759,273
Assets and Liabilities:
- Total Assets: $4,014,261
- Total Liabilities: $831,571
- Net Assets: $3,182,690
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM REVENUE
Revenue
$13,765
Organization Details
Founding Year
1993
Phone
(816) 221-3442Principal Officer
Pedro Zamora
Main Address
1722 HOLLY ST, KANSAS CITY, MO, 64108
Website
www.kchedc.orgNTEE Category
Code: S31Z - Community improvement
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