Latin American Economic Development Association Inc

Is Latin American Economic Development Association Inc Legit?

Some Concerns

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

Latin American Economic Development Association Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.

About Latin American Economic Development Association Inc

Latin American Economic Development Association Inc (EIN: 222846440) is a nonprofit organization based in Camden, NJ, classified under NTEE code S43Z. The organization reported total revenue of $867K and total assets of $1.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Latin American Economic Development Association Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

Organization Overview

Latin American Economic Development Association Inc is a small nonprofit that has been operating for 37 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 6.9%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

Financial Health Grade: B

In 2023, Latin American Economic Development Association Inc reported a deficit of $26K with expenses exceeding revenue, holds 34.0 months of operating reserves (strong position), has a debt-to-asset ratio of 42.4% (moderate leverage).

Financial Trends

Over 12 years of filings (2012–2023), Latin American Economic Development Association Inc's revenue has grown at a compound annual growth rate (CAGR) of 6.9%.

IRS Tax-Exempt Classification

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 Latin American Economic Development Association 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: 70%
• fundraising: 15%

According to IRS 990 filings, Latin American Economic Development Association Inc allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. Approximately 70% goes to programs, indicating moderate mission focus.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

• The organization reported a deficit of $26K, with expenses exceeding revenue.
• Debt-to-asset ratio: 42.4%.

Executive Compensation Analysis

The filings consistently report $0 in compensation, which requires further investigation to understand how the organization operates without reported paid staff or if compensation is being reported under a different category.

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 Latin American Economic Development Association Inc's IRS 990 filings:

• Consistent 'c0%' compensation reported across all years, which is unusual for an organization with significant revenue and assets.
• High and consistent liabilities relative to assets (e.g., $631,013 in liabilities against $1,486,521 in assets for 202306) could indicate financial strain or specific operational models.
• Expenses frequently exceed revenue in several years (e.g., 202306: revenue $498,545, expenses $524,347; 201906: revenue $374,632, expenses $503,159).

Strengths

The following positive indicators were identified for Latin American Economic Development Association Inc:

• Long operational history with consistent filing of financial data since at least 2016.
• Maintains a stable asset base, generally above $1.4 million.
• Demonstrates resilience in revenue generation, maintaining operations despite fluctuating income.

Frequently Asked Questions about Latin American Economic Development Association Inc

Filing History

IRS 990 filing history for Latin American Economic Development Association Inc showing financial trends over 12 years of public records:

Over 12 years of IRS 990 filings (2012–2023), Latin American Economic Development Association Inc's revenue has grown by 107.4%, moving from $240K to $499K. Total assets decreased by 9% over the same period, from $1.6M to $1.5M. Total functional expenses rose by 73.9%, from $302K to $524K. In its most recent filing year (2023), Latin American Economic Development Association Inc reported a deficit of $26K, with expenses exceeding revenue. The organization holds $631K in liabilities against $1.5M in assets (debt-to-asset ratio: 42.4%), resulting in net assets of $856K.

Year-by-Year Financial Summary

• 2023: Revenue of $499K, expenses of $524K, and assets of $1.5M (revenue -7.7% year-over-year).
• 2022: Revenue of $540K, expenses of $482K, and assets of $1.5M (revenue -2.4% year-over-year).
• 2021: Revenue of $554K, expenses of $555K, and assets of $1.5M (revenue +31.8% year-over-year).
• 2020: Revenue of $420K, expenses of $448K, and assets of $1.5M (revenue +12.1% year-over-year).
• 2019: Revenue of $375K, expenses of $503K, and assets of $1.4M (revenue -31.8% year-over-year).
• 2018: Revenue of $549K, expenses of $559K, and assets of $1.5M (revenue -16.1% year-over-year).
• 2017: Revenue of $655K, expenses of $478K, and assets of $1.5M (revenue +112.1% year-over-year).
• 2016: Revenue of $309K, expenses of $372K, and assets of $1.4M (revenue +50.7% year-over-year).
• 2015: Revenue of $205K, expenses of $317K, and assets of $1.5M (revenue -1.5% year-over-year).
• 2014: Revenue of $208K, expenses of $327K, and assets of $1.5M (revenue -30.5% year-over-year).
• 2013: Revenue of $299K, expenses of $334K, and assets of $1.6M (revenue +24.4% year-over-year).
• 2012: Revenue of $240K, expenses of $302K, and assets of $1.6M.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Latin American Economic Development Association Inc:

Data Sources and Methodology

This transparency report for Latin American Economic Development Association 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.