Galeo Latino Community Development Fund Inc
Galeo Latino Community Development Fund Inc. experiences recent operating deficits despite significant revenue growth and zero reported officer compensation.
EIN: 201565775 · Atlanta, GA · NTEE: S20 · Updated: 2026-03-28
Is Galeo Latino Community Development Fund Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Galeo Latino Community Development Fund Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Galeo Latino Community Development Fund Inc
Galeo Latino Community Development Fund Inc (EIN: 201565775) is a nonprofit organization based in Atlanta, GA, classified under NTEE code S20. The organization reported total revenue of $1.5M and total assets of $1.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Galeo Latino Community Development Fund Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Galeo Latino Community Development Fund Inc is a mid-size nonprofit that has been operating for 3 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 25.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.9M |
| Total Expenses | $2.0M |
| Surplus / Deficit | $-158,795 |
| Total Assets | $1.9M |
| Total Liabilities | $150K |
| Net Assets | $1.7M |
| Operating Margin | -8.5% |
| Debt-to-Asset Ratio | 8.1% |
| Months of Reserves | 11.0 months |
Financial Health Grade: B
In 2023, Galeo Latino Community Development Fund Inc reported a deficit of $159K with expenses exceeding revenue, holds 11.0 months of operating reserves (strong position), has a debt-to-asset ratio of 8.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Galeo Latino Community Development Fund Inc's revenue has grown at a compound annual growth rate (CAGR) of 25.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -1.8% | -7.6% | -9.0% |
| 2022 | +10.0% | +139.5% | -5.6% |
| 2021 | -26.1% | -36.2% | +55.2% |
| 2020 | +305.4% | +291.6% | +181.0% |
| 2019 | +67.1% | +18.6% | +83.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2023 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Galeo Latino Community Development Fund Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Galeo Latino Community Development Fund Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $159K, with expenses exceeding revenue.
- Debt-to-asset ratio: 8.1%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size with revenues exceeding $1.8 million in recent years. This suggests either a fully volunteer-led executive team or a compensation structure that is not categorized as officer compensation on the IRS Form 990, warranting further scrutiny for complete transparency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Galeo Latino Community Development Fund Inc's IRS 990 filings:
- Consistent operating deficits in recent years (2022, 2023) where expenses exceeded revenue.
- Unusually low (0%) reported officer compensation for an organization of this size, which may obscure actual leadership compensation structures.
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided data, hindering a full efficiency analysis.
Strengths
The following positive indicators were identified for Galeo Latino Community Development Fund Inc:
- Significant growth in revenue and assets over the past decade, demonstrating successful scaling.
- Substantial asset base ($1,855,668 in 2023) provides a buffer against recent operating deficits.
- Consistent filing of IRS Form 990s, indicating a commitment to regulatory transparency.
Frequently Asked Questions about Galeo Latino Community Development Fund Inc
Is Galeo Latino Community Development Fund Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Galeo Latino Community Development Fund Inc (EIN: 201565775) some concerns. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
How does Galeo Latino Community Development Fund Inc spend its money?
Galeo Latino Community Development Fund Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Galeo Latino Community Development Fund Inc tax-deductible?
Galeo Latino Community Development Fund Inc is registered as a tax-exempt nonprofit (EIN: 201565775). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Galeo Latino Community Development Fund Inc. financially sustainable given recent operating deficits?
The organization has experienced expenses exceeding revenue in 2022 ($2,193,613 vs $1,901,294) and 2023 ($2,026,738 vs $1,867,943). While it has substantial assets ($1,855,668 in 2023) built from prior surpluses, this trend is not sustainable long-term without increased revenue or reduced expenses.
How is the organization's leadership compensated if officer compensation is consistently reported as 0%?
The consistent reporting of 0% officer compensation across all filings is highly unusual for an organization of this scale. This suggests that executive leadership may be entirely volunteer-based, compensated through a related entity, or through a mechanism not classified as officer compensation on the 990, which would require further investigation beyond the provided data.
What is the breakdown of program, administrative, and fundraising expenses?
The provided data does not offer a detailed breakdown of expenses into program, administrative, and fundraising categories. This information is crucial for a comprehensive assessment of spending efficiency and mission focus.
Filing History
IRS 990 filing history for Galeo Latino Community Development Fund Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Galeo Latino Community Development Fund Inc's revenue has grown by 1419.9%, moving from $123K to $1.9M. Total assets increased by 5901.3% over the same period, from $31K to $1.9M. Total functional expenses rose by 1264.4%, from $149K to $2.0M. In its most recent filing year (2023), Galeo Latino Community Development Fund Inc reported a deficit of $159K, with expenses exceeding revenue. The organization holds $150K in liabilities against $1.9M in assets (debt-to-asset ratio: 8.1%), resulting in net assets of $1.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.9M | $2.0M | $1.9M | $150K | — | — |
| 2022 | $1.9M | $2.2M | $2.0M | $175K | — | View 990 |
| 2021 | $1.7M | $916K | $2.2M | $3K | — | View 990 |
| 2020 | $2.3M | $1.4M | $1.4M | $47K | — | View 990 |
| 2019 | $576K | $367K | $495K | $3K | — | View 990 |
| 2018 | $345K | $309K | $270K | $2K | — | View 990 |
| 2017 | $378K | $215K | $234K | $3K | — | View 990 |
| 2016 | $221K | $199K | $69K | $0 | — | View 990 |
| 2015 | $122K | $119K | $2K | $0 | — | View 990 |
| 2014 | $153K | $134K | $19K | $0 | — | View 990 |
| 2013 | $73K | $75K | $26K | $0 | — | View 990 |
| 2012 | $132K | $134K | $28K | $0 | — | View 990 |
| 2011 | $123K | $149K | $31K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.9M, expenses of $2.0M, and assets of $1.9M (revenue -1.8% year-over-year).
- 2022: Revenue of $1.9M, expenses of $2.2M, and assets of $2.0M (revenue +10.0% year-over-year).
- 2021: Revenue of $1.7M, expenses of $916K, and assets of $2.2M (revenue -26.1% year-over-year).
- 2020: Revenue of $2.3M, expenses of $1.4M, and assets of $1.4M (revenue +305.4% year-over-year).
- 2019: Revenue of $576K, expenses of $367K, and assets of $495K (revenue +67.1% year-over-year).
- 2018: Revenue of $345K, expenses of $309K, and assets of $270K (revenue -8.8% year-over-year).
- 2017: Revenue of $378K, expenses of $215K, and assets of $234K (revenue +71.0% year-over-year).
- 2016: Revenue of $221K, expenses of $199K, and assets of $69K (revenue +81.5% year-over-year).
- 2015: Revenue of $122K, expenses of $119K, and assets of $2K (revenue -20.3% year-over-year).
- 2014: Revenue of $153K, expenses of $134K, and assets of $19K (revenue +110.2% year-over-year).
- 2013: Revenue of $73K, expenses of $75K, and assets of $26K (revenue -44.7% year-over-year).
- 2012: Revenue of $132K, expenses of $134K, and assets of $28K (revenue +7.1% year-over-year).
- 2011: Revenue of $123K, expenses of $149K, and assets of $31K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Galeo Latino Community Development Fund Inc:
Data Sources and Methodology
This transparency report for Galeo Latino Community Development Fund Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.