Latino Education Advancement Foundation
- Assets
- $38.5m
- Revenue
- $4.6m
- Investments
- $2.1m
- Employees
- 0
- Location
- Milpitas, CA
- Founding
- 09/2019
- Data as of
- 06/2021
- EIN
- 82-3057074
Organization Overview
Latino Education Advancement Foundation is located in Milpitas, CA. The organization was established in 2019. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Latino Education Advancement Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Latino Education Advancement Foundation generated $4.6m in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $2.9m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO SUPPORT SCHOOLS OPERATED BY THE FOUNDATION FOR HISPANIC EDUCATION AND TOADVANCE AND DEVELOP INITIATIVES THAT BENEFIT ALL LOW-INCOME STUDENTS ATTENDING EAST SAN JOSE SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR MISSION IS TO SUPPORT SCHOOLS OPERATED BY THE FOUNDATION FOR HISPANIC EDUCATION AND TO ADVANCE AND DEVELOP INITIATIVES THAT BENEFIT ALL LOW-INCOME STUDENTS ATTENDING EAST SAN JOSE SCHOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ray Ruiz Secretary/ Treasurer | OfficerTrustee | 5 | $0 |
Ed Alvarez Chairman / CEO | OfficerTrustee | 40 | $0 |
John A Sobrato Vice Chairman | OfficerTrustee | 5 | $0 |
Lenny Alugas Trustee | Trustee | 5 | $0 |
Ramon Jimenez Trustee | Trustee | 5 | $0 |
Arnoldo Avalos Trustee | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Garden City Construction General Contractor For Tfhe Multi-purpos | 6/29/21 | $814,587 |
Derivi Castellanos Architects Design, Project Management, Consulting O | 6/29/21 | $130,474 |
Alvarez Advisory Services Management Services | 6/29/21 | $210,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,219,682 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,219,682 |
| Total Program Service Revenue | $2,291,261 |
| Investment income | $60,207 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$15,819 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,555,331 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,954 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,131 |
| Fees for services: Management | $210,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,688 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $110,267 |
| Advertising and promotion | $0 |
| Office expenses | $15,335 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $698,957 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $994,179 |
| Insurance | $0 |
| All other expenses | $72,561 |
| Total functional expenses | $2,931,231 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $791,040 |
| Savings and temporary cash investments | $684,242 |
| Pledges and grants receivable | $1,998,438 |
| Accounts receivable, net | $166,884 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $32,776,816 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,100,015 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $560 |
| Total assets | $38,517,995 |
| Accounts payable and accrued expenses | $550,719 |
| Grants payable | $0 |
| Deferred revenue | $244,595 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $15,196,082 |
| Unsecured mortgages and notes payable | $600,000 |
| Other liabilities | $1,022,314 |
| Total liabilities | $17,613,710 |
| Net assets without donor restrictions | $17,550,377 |
| Net assets with donor restrictions | $3,353,908 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $38,517,995 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Latino Education Advancement Foundation has recieved totaling $605,000.
| Awarding Organization | Amount |
|---|---|
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Education | $360,000 |
Tipping Point Community San Francisco, CA PURPOSE: EDUCATION ISSUE AREA | $200,000 |
American Heart Association Inc Dallas, TX PURPOSE: COLLEGE SUCCESS PROGRAM | $45,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The University Corporation San Francisco State San Francisco, CA | $47,309,090 | $29,247,706 |
California State University Dominguez Hills Foundation Carson, CA | $11,765,317 | $14,222,352 |
Northern Arizona University Fdn Inc Flagstaff, AZ | $256,288,832 | $37,761,443 |
Allan Hancock College Foundation Santa Maria, CA | $20,101,421 | $6,236,200 |
Wave Property Inc Malibu, CA | $0 | -$40,507 |
U C Riverside Foundation Riverside, CA | $204,662,854 | $24,632,492 |
San Francisco State University Foundation San Francisco, CA | $183,676,818 | $22,479,029 |
10000 Degrees San Rafael, CA | $19,169,911 | $12,132,333 |
Klare Holdings Los Angeles, CA | $259,758,492 | $15,264,279 |
California State University - Northridge Foundation Northridge, CA | $300,894,352 | $70,202,583 |
John H & Cynthia Lee Smet Foundation Manhattan Beach, CA | $180,146,566 | $55,938,171 |
Riverside County Office Of Education Foundation Riverside, CA | $343,683 | $10,179,019 |