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Nonprofiteer
← LATINO COMMUNITY FOUNDATION

Form 990 for tax year 2023

Filed by LATINO COMMUNITY FOUNDATION.

Totals

Total revenue
$24,197,968
Total expenses
$12,554,062
Contributions and grants received
$23,046,650
Grants paid
$7,131,000
Program service revenue
$0
Investment income
$1,149,336
Other revenue
$1,982
Total assets, end of year
$54,554,268
Total liabilities, end of year
$1,042,941
Net assets or fund balances, end of year
$53,511,327
Program services expenses (Part IX)
$11,039,537
Management and general expenses
$982,984
Fundraising expenses
$531,541
Program service expenses (Part III)
$11,039,537

Program services were 87.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $23,046,650

  • 1g · Noncash contributions included above

    $3,002,394

  • 3 · Investment income

    total $1,161,450 · excluded $1,161,450

  • 7a · Gross sales of assets other than inventory

    securities $3,400,381

  • 7b · Less cost or other basis and sales expenses

    securities $3,412,495

  • 7c · Gain or loss

    securities -$12,114

  • 7d · Net gain or loss

    total -$12,114 · excluded -$12,114

  • 11a · Other revenue: OTHER INCOME

    total $1,982 · related or exempt $1,982

  • 11e · Other revenue, total

    $1,982

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,131,000 · program services $7,131,000

  • 5 · Compensation of officers, directors and key employees

    total $819,373 · program services $373,802 · management and general $227,458 · fundraising $218,113

  • 7 · Other salaries and wages

    total $2,051,913 · program services $1,729,120 · management and general $152,229 · fundraising $170,564

  • 8 · Pension plan contributions

    total $149,407 · program services $121,777 · management and general $14,334 · fundraising $13,296

  • 9 · Other employee benefits

    total $256,384 · program services $188,152 · management and general $68,232

  • 10 · Payroll taxes

    total $186,535 · program services $137,332 · management and general $26,318 · fundraising $22,885

  • 11b · Fees: legal

    total $1,722 · management and general $1,722

  • 11c · Fees: accounting

    total $235,349 · program services $130,577 · management and general $83,017 · fundraising $21,755

  • 11f · Fees: investment management

    total $85,913 · management and general $85,913

  • 11g · Fees: other

    total $406,197 · program services $256,547 · management and general $140,335 · fundraising $9,315

  • 12 · Advertising and promotion

    total $253,716 · program services $223,483 · management and general $12,359 · fundraising $17,874

  • 13 · Office expenses

    total $29,445 · program services $13,250 · management and general $16,041 · fundraising $154

  • 14 · Information technology

    total $200,248 · program services $147,438 · management and general $28,247 · fundraising $24,563

  • 16 · Occupancy

    total $121,918 · program services $91,840 · management and general $14,181 · fundraising $15,897

  • 17 · Travel

    total $180,792 · program services $127,512 · management and general $38,025 · fundraising $15,255

  • 19 · Conferences, conventions and meetings

    total $384,613 · program services $353,638 · management and general $30,308 · fundraising $667

  • 22 · Depreciation, depletion and amortization

    total $1,865 · management and general $1,865

  • 23 · Insurance

    total $37,374 · management and general $37,374

  • 24a · Other expenses: MEMBERSHIP DUES

    total $12,167 · program services $9,970 · management and general $2,197

  • 24b · Other expenses: FURNITURE & EQUIPMENT

    total $5,816 · program services $3,581 · management and general $2,235

  • 24c · Other expenses: SUBSCRIPTIONS

    total $1,112 · program services $518 · management and general $594

  • 24e · All other expenses

    total $1,203 · fundraising $1,203

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $22,799,556 · end of year $309,214

  • 2 · Savings and temporary cash investments

    beginning of year $1,676,649 · end of year $9,534,301

  • 3 · Pledges and grants receivable

    beginning of year $4,242,900 · end of year $2,125,752

  • 9 · Prepaid expenses and deferred charges

    beginning of year $60,589 · end of year $83,315

  • 10a · Land, buildings and equipment: cost or other basis

    $44,561

  • 10b · Land, buildings and equipment: accumulated depreciation

    $43,007

  • 10c · Land, buildings and equipment, net

    beginning of year $3,419 · end of year $1,554

  • 11 · Investments: publicly traded securities

    beginning of year $11,370,759 · end of year $42,242,113

  • 15 · Other assets

    beginning of year $351,494 · end of year $258,019

  • 17 · Accounts payable and accrued expenses

    beginning of year $926,368 · end of year $643,163

  • 18 · Grants payable

    beginning of year $0 · end of year $105,000

  • 25 · Other liabilities

    beginning of year $377,730 · end of year $294,778

  • 27 · Net assets without donor restrictions

    beginning of year $10,410,128 · end of year $24,443,158

  • 28 · Net assets with donor restrictions

    beginning of year $28,791,140 · end of year $29,068,169

Mission and programs · 2023

Mission

LCF EXISTS TO UNLEASH THE CIVIC AND ECONOMIC POWER OF LATINOS IN CALIFORNIA. LCF FULFILLS THE MISSION BY BUILDING A MOVEMENT OF CRITICALLY ENGAGED PHILANTHROPIC LEADERS, INVESTING IN LATINO-LED ORGS, AND INCREASING CIVIC PARTICIPATION OF LATINOS IN CALIFORNIA.

Activities or mission (Part I)

LCF EXISTS TO UNLEASH THE CIVIC AND ECONOMIC POWER OF LATINOS IN CALIFORNIA.

  • BUILDING CIVIC POWER: LATINO POWER FUND PROGRAMS AND GRANTMAKING THAT INCREASE INVESTMENTS INTO LATINO-LED GRASSROOT ORGANIZATIONS WORKING TO PROMOTE CIVIC ENGAGEMENT AMONG LATINOS AND PROMOTE THE EQUITABLE DISTRIBUTION OF AMERICAN RESCUE PLAN FUNDS. IN 2023, LCF CULMINATED THE THIRD COHORT OF ITS LATINO NONPROFIT ACCELERATOR, LAUNCHED THE REST IS POWER SABBATICAL PROGRAM FOR GRASSROOT LEADERS, AND LAUNCHED THE PODERARTE INITIATIVE TO PROMOTE ART AND CULTURE AS A VEHICLE TO PROMOTE CIVIC ENGAGEMENT AND SOCIAL CHANGE. LCF PARTNERSHIPS ALSO LEVERAGED MILLIONS OF DOLLARS IN FEDERAL, STATE, AND LOCAL FUNDING FOR LATINO COMMUNITIES ACROSS CALIFORNIA. AS PART OF LCF'S MISSION, LCF MANAGES THE LATINO GIVING CIRCLE NETWORK (LGCN) TO INSPIRE PHILANTHROPY FOR AND BY LATINOS. LCF HAS CREATED THIS NETWORK OF LATINO PHILANTHROPISTS AS A PLATFORM FOR LATINO LEADERS TO INCREASE THEIR CIVIC ENGAGEMENT. AS OF DECEMBER 31, 2023, THERE WERE 17 LGCN GIVING CIRCLES WITH 295 MEMBERS.

    Expenses $7,794,476 · Grants $5,104,900 · Revenue $1,982

  • BUILDING ECONOMIC POWER PROGRAMS AND GRANTMAKING THAT INCREASE OPPORTUNITIES FOR ECONOMIC MOBILITY AND GROWTH IN LATINO COMMUNITIES. IN 2023, LCF'S ECONOMIC POWER BUILDING WORK FOCUSED ON INCREASING ACCESS TO CAPITAL FOR ENTREPRENEURS, ESTABLISHING NEW COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS, INVESTMENTS IN LATINA ENTREPRENEURS, AND SUPPORT FOR STATE EFFORTS TO PLACE LATINOS IN HIGHER-PAYING JOBS ACROSS THE STATE. IN 2023, LCF PARTNERSHIPS ALSO LEVERAGED FEDERAL AND STATE RESOURCES TO SUPPORT LATINO ENTREPRENEURS AND SMALL BUSINESSES.

    Expenses $2,481,380 · Grants $1,543,500

  • RAPID RESPONSE INITIATIVES THAT SUPPORT CALIFORNIA NONPROFITS ON THE FRONTLINES OF SERVING, SUPPORTING, OR ADVOCATING FOR LATINO FAMILIES AND COMMUNITIES AFFECTED BY DISASTERS. IN 2023, LCF'S INVESTMENTS SUPPORTED COMMUNITIES DEALING WITH ACTIVE DISASTERS AS WELL AS THOSE ENGAGED IN LONG TERM RECOVERY EFFORTS.

    Expenses $763,681 · Grants $482,600

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • DANIEL SKAFF

    CHAIR

    Total calculated
    $0
    Hours/week
    4

  • NORAMAY CADENA

    TREASURER

    Total calculated
    $0
    Hours/week
    4

  • HONORABLE LYDIA VILLARREAL

    SECRETARY

    Total calculated
    $0
    Hours/week
    4

  • BEATRIZ ACEVEDO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4

  • FRED ALVAREZ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • FRED BLACKWELL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • CRISANTEMA GALLARDO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ZAC GUEVARA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4

  • SONIA BASSHEVA MANJON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4

  • MARISA MORET

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ANN O'LEARY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • STACIE OLIVARES

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • JOSE ANTONIO RAMIREZ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • STEVEN WOLFE PEREIRA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • JACQUELINE MARTINEZ GARCEL

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $471,397
    From this org
    $423,275
    From related orgs
    $0
    Other
    $48,122
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $322,752
    Bonus
    $100,000
    Other
    $523
    Deferred
    $26,400
    Nontaxable benefits
    $21,722
    Filer's total
    $471,397

  • MARIA ZAYAS CARNES

    CHIEF FINANCIAL OFFICER

    Total calculated
    $246,864
    From this org
    $193,480
    From related orgs
    $0
    Other
    $53,384
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,946
    Bonus
    $20,000
    Other
    $534
    Deferred
    $16,940
    Nontaxable benefits
    $36,444
    Filer's total
    $246,864

  • MARIYA CHERNYAK

    SR VP PGRM/BRANDING (THRU 12/1/23)

    Total calculated
    $211,532
    From this org
    $189,382
    From related orgs
    $0
    Other
    $22,150
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,882
    Bonus
    $10,000
    Other
    $500
    Deferred
    $5,834
    Nontaxable benefits
    $16,316
    Filer's total
    $211,532

  • MARCELA MUNIZ

    VP OF PHILANTHROPY

    Total calculated
    $206,287
    From this org
    $165,185
    From related orgs
    $0
    Other
    $41,102
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,162
    Bonus
    $15,000
    Other
    $23
    Deferred
    $14,000
    Nontaxable benefits
    $27,102
    Filer's total
    $206,287

  • CHRISTIAN ARANA

    VP OF CIVIC POWER AND POLICY

    Total calculated
    $187,507
    From this org
    $167,047
    From related orgs
    $0
    Other
    $20,460
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,663
    Bonus
    $15,000
    Other
    $384
    Deferred
    $13,382
    Nontaxable benefits
    $7,078
    Filer's total
    $187,507

  • MAX VARGAS

    VP OF ECONOMIC JUSTICE

    Total calculated
    $161,240
    From this org
    $149,013
    From related orgs
    $0
    Other
    $12,227
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,000
    Bonus
    $8,000
    Other
    $1,013
    Deferred
    $11,920
    Nontaxable benefits
    $307
    Filer's total
    $161,240

  • DIANA OTERO

    SR DIR OF STRAT P'SHIPS & INNOV

    Total calculated
    $139,355
    From this org
    $128,773
    From related orgs
    $0
    Other
    $10,582
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202433189349302653

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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