LOCAL ENTERPRISE ASSISTANCE FUND (EIN 042763724) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1982

Legal Domicile

Principal Officer

GERARDO ESPINOZA

Phone

6172321551

Tax Period

2024-06-01 to 2025-05-31

LOCAL ENTERPRISE ASSISTANCE FUND, founded in 1982, is a community nonprofit in the Employment sector that reported $5.6M in total revenue in fiscal year 2024. Expenses of $5.2M left a modest 8% surplus.

Mission

NON-PROFIT COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION PROVIDING FLEXIBLE FINANCING AND TECHNICAL ASSISTANCE TO WORKER-OWNED COOPERATIVES AND COMMUNITY-OWNED BUSINESSES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $3,870,413

Program Service Revenue $1,498,012

Investment Income $224,660

Other Revenue $0

TOTAL REVENUE $5,593,085

Expense Breakdown

Grants Paid $318,577

Salaries & Benefits $2,985,611

Fundraising Expenses $490,620

Program Expenses $3,998,277

Other Expenses $1,868,299

TOTAL EXPENSES $5,172,487

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,593,085	$5,216,398	+0.1%
Expenses	$5,172,487	$4,323,969	+0.2%
Net Income	$420,598	$892,429	-0.5%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$210,840

Total Directors

$659,162

Key Employees

$622,799

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GERARDO ESPINOZA DIRECTOR	EXECUTIVE DIRECTOR	40.00	Officer Director	$200,070	$10,770	$210,840
CHRISTOPHER HUNTER DIRECTOR	ADVISORY SERVICE DIRE	40.00	Director	$166,658	$14,757	$181,415
FATIHA AINANE	SENIOR FINANCIAL ANAL	40.00	Director	$130,809	$14,757	$145,566
MATTHEW PIRES	FINANCIAL ANALYST	40.00	Director	$118,880	$2,461	$121,341
DAMILOLA ODETOLA	DIRECTOR & TREASURER	2.00	Officer Director	$0	$0	$0
ALEXANDER PYLE	DIRECTOR & CLERK	2.00	Officer Director	$0	$0	$0
CHRISTINE CLAMP	DIRECTOR & CHAIRPERSON	2.00	Officer Director	$0	$0	$0
TERRY LEWIS	DIRECTOR	1.00	Director	$0	$0	$0
DAVID HAMMER	DIRECTOR	1.00	Director	$0	$0	$0
JOHN SMITH	DIRECTOR	1.00	Director	$0	$0	$0
SHELLEY MILLER	DIRECTOR	1.00	Director	$0	$0	$0
AMINE BENALI DIRECTOR	MANAGING DIRECTOR	40.00	Key Emp	$183,154	$39,895	$223,049
JOSE LUIS ROJAS DIRECTOR	CHIEF LENDING OFFICER	32.00	Key Emp	$169,238	$7,655	$176,893
CAROL ANN MCAULIFFE	CFO	40.00	Key Emp	$182,962	$39,895	$222,857
VIRGINIA BERMAN	DIR. OF COMM. & MARKETING	40.00	Highest	$124,969	$6,233	$131,202
JOSHUA GLICKENHAUS	SENIOR LOAN OFFICER	40.00	Highest	$136,154	$6,360	$142,514
MARY WONG	SENIOR LOAN OFFICER	40.00	Highest	$125,838	$30,528	$156,366
JORDAN BROWNE	FINANCIAL ANALYST	40.00	Highest	$123,349	$14,757	$138,106
ALAN SINGER	SENIOR LOAN OFFICER	40.00	Highest	$118,953	$20,006	$138,959
JAMES LOUNEY	RETIRING CFO	40.00		$149,751	$1,843	$151,594

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$5,593,085	$5,172,487	$34,477,645	$420,598
2024	$5,216,398	$4,323,969	$31,143,770	$892,429
2023	$3,524,747	$2,918,153	$26,238,896	$606,594
2022	$8,343,201	$2,679,863	$24,155,726	$5,663,338
2021	$3,351,663	$1,811,515	$15,497,669	$1,540,148

LOCAL ENTERPRISE ASSISTANCE FUND