JOLIET LATINO ECONOMIC DEVELOPMENT… - Form 990 Financial Data

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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

2020

Legal Domicile

Principal Officer

EDUARDO SANCHEZ

Phone

8155141862

Tax Period

2023-01-01 to 2023-12-31

JOLIET LATINO ECONOMIC DEVELOPMENT ASSOC, founded in 2020, is a small nonprofit in the Community Improvement sector that reported $168K in total revenue in fiscal year 2023. Revenue surged 113% from the prior year, signaling strong growth momentum. The organization ran a surplus of $39K, a strong 23% operating margin.

Mission

1) IMPROVING AND ADVANCING THE BUSINESS AND ECONOMIC CONDITIONS OF LATINO BUSINESSES AND INDIVIDUALS2) FOSTERING LATINO BUSINESS AND COMMUNITY GROWTH AND DEVELOPMENT THROUGH ECONOMIC PROGRAMS DESIGNED TO STRENGTHEN AND EXPAND THE INCOME POTENTIAL OF ALL BUSINESSES IN THE JOLIET LEDA AREA, DEFINED BELOW;3)PROMOTING PROGRAMS OF A CIVIC, SOCIAL, AND CULTURAL NATURE THAT ARE DESIGNED TO FURTHER THE FUNCTIONAL AND AESTHETIC VALUES OF THE LATINO COMMUNITY;4) DISCOVERING AND CORRECTING ABUSES THAT PREVENT THE ADVANCEMENT OF LATINO BUSINESS EXPANSION AND LATINO COMMUNITY GROWTH;5) EDUCATING THE LATINO BUSINESS COMMUNITY AND NATIONAL LEGISLATIVE AND POLITICAL AFFAIRS;

Program Service Accomplishments

Program 1

Expenses: $94,135

COMMUNITY NAVIGATOR PROGRAMFUNDED BY THE ILLINOIS DEPARTMENT OF COMMERCE AND ECONOMIC OPPORTUNITY AND POWERED BY THE ILLINOIS HISPANIC CHAMBER OF COMMERCE, THIS PROGRAM PROVIDES ASSISTANCE TO SMALL BUSINESSES TO CONTINUE TO RECOVER FROM THE PANDEMIC AND PREPARE FOR GROWTH. SERVICES AVAILABLE THROUGH THE PROGRAM:ONGOING INFORMATION: ABOUT SOURCES OF FINANCIAL ASSISTANCE FOR YOUR BUSINESS AND ASSISTANCE COMPLETING APPLICATIONS FOR GOVERNMENT GRANTS AND OTHER SOURCES OF FINANCING. UPDATED INFORMATION: ABOUT PANDEMIC-RELATED PUBLIC HEALTH AND BUSINESS OPERATION PROVISIONS TO KEEP YOU, YOUR CUSTOMERS, YOUR EMPLOYEES AND YOUR CUSTOMERS SAFE AND INFORMED. ONE-ON-ONE BUSINESS COUNSELLING: TECHNICAL ASSISTANCE TO IDENTIFY CHALLENGES AND OPPORTUNITIES FOR YOUR BUSINESS. ASSISTANCES: TO ENABLE YOU TO MAXIMIZE THE EFFICIENCY, PRODUCTIVITY AND PROFITABILITY OF YOUR BUSINESS. INFORMATION AND REFERRAL'S: ADDITIONAL PROGRAM'S AND ASSISTANCES AVAILABLE FROM THE ILLINOIS CHAMBER OF COMMERCE AND OTHER BUSINESS. DEVELOPMENT: OF PLANS FOR BUSINESS GROWTH OPPORTUNITY: TO CONNECT WITH OTHER SMALL BUSINESS AND GOVERNMENT REPRESENTATIVES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $121,489

Program Service Revenue $0

Investment Income $2

Other Revenue $46,501

TOTAL REVENUE $167,992

Expense Breakdown

Grants Paid $0

Salaries & Benefits $41,767

Fundraising Expenses $0

Program Expenses $94,135

Other Expenses $87,570

TOTAL EXPENSES $129,337

Year-over-Year Comparison

	2023	2022	Change
Revenue	$167,992	$78,917	+1.1%
Expenses	$129,337	$59,253	+1.2%
Net Income	$38,655	$19,664	+1.0%

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

N/A

Volunteers

N/A

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

$55,504

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LIZBETH AVILES	BOARD MEMBER	0.00	Director	$0	$0	$0
SAM GARCIA	BOARD MEMBER	0.00	Director	$0	$0	$0
ULISES HUITRON	BOARD MEMBER	0.00	Director	$0	$0	$0
CHRIS CHAIDEZ	BOARD MEMBER	0.00	Director	$0	$0	$0
BRENDA NORIEGA	BOARD MEMBER	0.00	Director	$0	$0	$0
JOHNNY NORIEGA	BOARD MEMBER	0.00	Director	$0	$0	$0
NOELI SERNA	BOARD MEMBER	0.00	Director	$0	$0	$0
ALEX PARAMO	PRESIDENT	0.00	Officer	$0	$0	$0
NANCY CABALLERO-BORUNDA	SECRETARY	0.00	Officer	$0	$0	$0
EDUARDO SANCHEZ	TREASURER	0.00	Officer	$0	$0	$0
DIANA VIVEROS	PROGRAM MANAGER	40.00	Officer	$55,504	$0	$55,504

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
2023	$167,992	$129,337	$85,584	$38,655

JOLIET LATINO ECONOMIC DEVELOPMENT ASSOC