THE NORTHEAST OHIO HISPANIC CENTER FOR ECONOMIC DEVELOPMENT

EIN: 341805510 501(c)(3) Community Improvement

CLEVELAND, OH

Total Revenue
$4,911,989
Total Expenses
$1,069,706
Total Assets
$9,499,197
Net Assets
$6,319,312
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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
1996
Legal Domicile
OH
Principal Officer
JENICE CONTRERAS
Phone
2162814422
Tax Period
2023-07-01 to 2024-06-30

THE NORTHEAST OHIO HISPANIC CENTER FOR ECONOMIC DEVELOPMENT, founded in 1996, is a community nonprofit in the Community Improvement sector that reported $4.9M in total revenue in fiscal year 2023. Revenue surged 145% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.8M, a strong 78% operating margin.

Mission

TO PROMOTE HISPANIC BUSINESS IN THE CLEVELAND AREA THROUGH ECONOMIC DEVELOPMENT, STRATEGIC PARTNERSHIPS, TECHNICAL ASSISTANCE, BUSINESS EDUCATIONAL TRAINING, AND ADVOCACY.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $4,577,755
Program Service Revenue $334,234
Investment Income $0
Other Revenue $0
TOTAL REVENUE $4,911,989

Expense Breakdown

Grants Paid $0
Salaries & Benefits $606,643
Fundraising Expenses $47,957
Program Expenses $896,558
Other Expenses $445,788
TOTAL EXPENSES $1,069,706

Year-over-Year Comparison

2023 2022 Change
Revenue $4,911,989 $2,005,357 +1.4%
Expenses $1,069,706 $1,358,277 -0.2%
Net Income $3,842,283 $647,080 +4.9%
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

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Governance

Voting Members
8
Independent Members
8
Employees
6
Volunteers
10

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
4
$218,000
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JENICE CONTRERAS PRESIDENT/CE 40.00
Officer
$218,000 $0 $218,000
IVAN BERKEL TRUSTEE 1.00
Director
$0 $0 $0
RAQUEL PACHECO TREASURER 1.00
Officer Director
$0 $0 $0
HARRY QUINONES TRUSTEE 1.00
Director
$0 $0 $0
EZEQUIEL RODRIGUEZ VICE CHAIR 1.00
Officer Director
$0 $0 $0
GUADALUPE SANCHEZ TRUSTEE 1.00
Director
$0 $0 $0
MARGARET SANCHEZ TRUSTEE 1.00
Director
$0 $0 $0
CARMEN SCOTT CHAIR 1.00
Officer Director
$0 $0 $0
JOHN SLAVIK TRUSTEE 1.00
Director
$0 $0 $0
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 No data No data No data No data
2024 $4,911,989 $1,069,706 $9,499,197 $3,842,283
2023 $2,005,357 $815,474 $3,020,731 $1,189,883
2022 $1,657,200 $1,265,238 $1,787,562 $391,962
2021 $858,615 $652,382 $1,477,498 $206,233
2020 $659,538 $537,689 $1,311,943 $121,849
2020 $380,578 $472,078 $666,548 $-91,500
2019 $699,622 $463,578 $625,439 $236,044
2018 $800,006 $461,341 $361,850 $338,665
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