Latino Business Foundation Silicon Valley

Organization Overview

Latino Business Foundation Silicon Valley is located in San Jose, CA. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Latino Business Foundation Silicon Valley employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Latino Business Foundation Silicon Valley 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 12/2021, Latino Business Foundation Silicon Valley generated $359.5k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 28.3% each year . All expenses for the organization totaled $364.4k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE EMPOWERING RESOURCES TO EXISTING AND FUTURE LEADERS IN THE BUSINESS COMMUNITY THROUGH LONG-LASTING LEARNING AND SUPPORT.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SMALL BUSINESS ASSISTANCE - THE LATINO BUSINESS FOUNDATION OF SILICON VALLEY (LBFSV) IS CURRENTLY SERVING LOCAL BUSINESSES THROUGH RESPONSIVE, AGILE AND ESSENTIAL BUSINESS ASSISTANCE. OVER 90% OF THEIR MEMBERS FALL INTO THE LOW TO MEDIAN INCOME CATEGORY; 70% OF THOSE SERVED ARE LATINO AND ABOUT 30% OF THOSE SERVED COME FROM OTHER IMMIGRANT GROUPS. THEIR EXISTING TECHNICAL ASSISTANCE IS BILINGUAL AND INCLUDES A VARIETY OF PROGRAMS SUCH AS A BUSINESS ACADEMY COURSE, A QUICK-RESPONSE HOTLINE FOR SMALL BUSINESS INQUIRIES, THE SMALL BUSINESS INCUBATOR, PARTNER REFERRAL SYSTEMS AS WELL AS SMALL BUSINESS WORKSHOPS ADDRESSING THE MOST PRESSING ISSUES FACING SMALL BUSINESSES. LBFSV HAS REMAINED EXTREMELY RESPONSIVE AND AGILE TO THE NEEDS OF SMALL BUSINESSES WITH GROUP PROGRAMMING AS WELL AS BESPOKE, ONE-ON-ONE SUPPORT WITH INDIVIDUALS AS NEEDS ARISE SUCH AS ASSISTING BUSINESSES COMPLETE GRANT APPLICATIONS.


TBUSINESS ACADEMY - THE LATINO BUSINESS ACADEMY IS A SELF-PACED, 12 MODULE COURSE GEARED TOWARDS SUPPORTING ENTREPRENEURS IN FORMING A NEW BUSINESS, IN COLLABORATION WITH SANTA CLARAS MY OWN BUSINESS INSTITUTE (MOBI) PROGRAM. THE LATINO BUSINESS ACADEMY PROVIDES DIRECT ACCESS TO HIGH-QUALITY AND ACCESSIBLE TRAINING COURSES TO SMALL BUSINESS HOPEFULS AS WELL AS TAILORED ASSISTANCE FROM LBFSV SMALL BUSINESS COACHES AND STAFF THAT SUPPORT ENTREPRENEURS IN SELECTING AND COMPLETING THE COURSES. THE COURSE PROVIDES TECHNICAL AND FINANCIAL TRAINING AND ONE-ON-ONE COACHING AVAILABLE IN ENGLISH AND SPANISH. THE PROGRAM COVERS A WIDE RANGE OF TOPICS SUCH AS: BUSINESS PLANNING, FINANCING THE BUSINESS, LICENSES AND PERMITS, ACCOUNTING AND CASH FLOW, MANAGING EMPLOYEES, AND DEVELOPING NEGOTIATION SKILLS. THE ACADEMY WAS OFFICIALLY LAUNCHED IN JULY 2021 AND WITHIN ITS FIRST MONTHS GAINED OVER 200 STUDENTS AND GRADUATED OVER 30 STUDENTS.


WOMEN IN POWER - LBFSVS WOMEN IN POWER INITIATIVES INCLUDE TWO MAIN AREAS OF WORK: SINGLE MOTHER BUSINESS OWNERS AND THE BEAUTY BUSINESS INDUSTRY COUNCIL. THE PROGRAMS ARE A COMBINATION OF WORKSHOPS AND SPEAKER SERIES FOR WOMEN SMALL BUSINESS OWNERS TO OBTAIN TECHNICAL ASSISTANCE, LISTEN TO LOCAL EXPERTS AND SUCCESS STORIES, AND ENGAGE IN A SUPPORTIVE COMMUNITY OF LIKE-MINDED PEERS. THE WORKSHOPS COVER TOPICS SUCH AS: SOCIAL MEDIA MARKETING, WEB PRESENCE, ACCESS TO CAPITAL AND FINANCIAL PLANNING (IN COLLABORATION WITH EXCITE CREDIT UNION), COMMERCIAL LEASE AND CONTRACT PROTECTION, NETWORKING DYNAMICS, BEAUTY INDUSTRY INSPIRATIONAL SPEAKER SERIES, AND INNER HEALING FOR WOMEN. SINGLE MOTHERS BUSINESS OWNERS: A RAPIDLY GROWING PROGRAM THAT ADDRESSES THE UNIQUE CHALLENGES SINGLE MOTHERS FACE AS SMALL BUSINESS OWNERS AND THE SOLE-INCOME PROVIDER FOR THEIR FAMILIES. NEARLY 61% OF SMALL/MICRO-BUSINESSES IN EAST SAN JOSE ARE WOMAN-OWNED; 75% ARE SINGLE MOTHERS. BEAUTY BUSINESS INDUSTRY COUNCIL: BUSINESS LEADERS CO-CREATE SPECIFIC ACTIVITIES THAT ADDRESS THEIR NEEDS. THE BEAUTY INDUSTRY IS THE LARGEST INDUSTRY IN OUR MEMBER COMMUNITY IN EAST SAN JOSE AND AS SUCH, THE BEAUTY BUSINESS COUNCIL WAS FORMED TO RESPOND TO INDUSTRY PAIN POINTS AND CO-CREATES ACTIVITIES. THIS COUNCIL IS CURRENTLY HOSTING A SPEAKER SERIES THAT BRINGS TOGETHER LOCAL BEAUTY INDUSTRY EXPERTS TO SHARE THEIR STORIES, SUCCESSES, AND CHALLENGES IN THE FIELD. IN THE PAST WE HAVE ALSO HELP WORKSHOPS FOCUSED ON SPECIFIC COMPLIANCE ISSUES THAT THIS SECTOR WAS FACING.


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Board, Officers & Key Employees

Name (title)Compensation
Jesus Flores
President & CEO
$69,145
Sandy Camacho
Secretary
$0
Angelica Flores
Cfo/treasurer
$0
Nancy Mendoza
Director
$0
Valeria Camacho
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $70,662
All other contributions, gifts, grants, and similar amounts not included above$287,500
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$358,162
Total Program Service Revenue$1,382
Investment income $0
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $359,544

Grants Recieved

Over the last fiscal year, we have identified 5 grants that Latino Business Foundation Silicon Valley has recieved totaling $157,500.

Awarding OrganizationAmount
Tides Foundation

San Francisco, CA

PURPOSE: EQUITY, HUMAN RIGHTS, AND ECONOMIC EMPOWERMENT

$50,000
Silicon Valley Community Foundation

Mountain View, CA

PURPOSE: Community Development

$50,000
Local Initiatives Support Corporation

New York, NY

PURPOSE: SEE PART IV

$30,000
Bank Of America Charitable Foundation Inc

Charlotte, NC

PURPOSE: OPERATIONAL SUPPORT

$15,000
Credit Unions In The State Of California

San Jose, CA

PURPOSE: TO BECOME SILICON VALLEY'S ""GO TO PLACE"" FOR SMALL AND MICRO BUSINESS' NEEDS AND RESOURCES. AND TO BUILD THE TOOLS NECESSARY FOR MINORITY ENTREPRENEURS ESPECIALLY THOSE IN LOW INCOME NEIGHBORHOODS TO PROSPER AND GROW, CREATING A THRIVING COMMUNITY.

$12,500
View Grant Recipient Profile

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