Form 990 for tax year 2023
Filed by LATINO CHAMBER OF COMMERCE OF SOUTHEASTERN WISCONSIN INC.
Totals
- Total revenue
- $1,239,089
- Total expenses
- $1,260,548
- Contributions and grants received
- $1,226,991
- Grants paid
- $0
- Program service revenue
- $11,942
- Investment income
- $156
- Other revenue
- $0
- Total assets, end of year
- $1,582,614
- Total liabilities, end of year
- $1,310,683
- Net assets or fund balances, end of year
- $271,931
- Program services expenses (Part IX)
- $1,192,152
- Management and general expenses
- $68,396
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,192,152
Program services were 94.6% 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.
-
1b · Membership dues
$25,164
-
1e · Government grants (contributions)
$1,168,073
-
1f · All other contributions, gifts and grants
$33,754
-
2a · Program service revenue: Unsumit Event
total $11,942 · related or exempt $11,942
-
3 · Investment income
total $156 · excluded $156
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $231,527 · program services $200,419 · management and general $31,108
-
9 · Other employee benefits
total $8,178 · program services $7,079 · management and general $1,099
-
10 · Payroll taxes
total $20,351 · program services $17,617 · management and general $2,734
-
11b · Fees: legal
total $17,000 · program services $5,600 · management and general $11,400
-
11c · Fees: accounting
total $4,205 · management and general $4,205
-
11g · Fees: other
total $5,610 · program services $5,000 · management and general $610
-
12 · Advertising and promotion
total $6,411 · program services $6,411
-
14 · Information technology
total $5,981 · program services $5,203 · management and general $778
-
16 · Occupancy
total $13,149 · program services $11,440 · management and general $1,709
-
17 · Travel
total $3,989 · program services $3,989
-
20 · Interest
total $155 · management and general $155
-
22 · Depreciation, depletion and amortization
total $928 · management and general $928
-
23 · Insurance
total $2,610 · management and general $2,610
-
24a · Other expenses: Loan Fund Expense
total $35,865 · program services $35,865
-
24b · Other expenses: Forgivable Loan Loss Reserve
total $848,950 · program services $848,950
-
24c · Other expenses: Unsumit Event & Food Expense
total $33,306 · program services $33,306
-
24d · Other expenses: Mmembership Dues
total $630 · program services $630
-
24e · All other expenses
total $21,703 · program services $10,643 · management and general $11,060
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,463,940 · end of year $325,731
-
4 · Accounts receivable
beginning of year $6,908 · end of year $25,000
-
7 · Other notes and loans receivable
end of year $3,833
-
10a · Land, buildings and equipment: cost or other basis
$6,098
-
10b · Land, buildings and equipment: accumulated depreciation
$3,375
-
10c · Land, buildings and equipment, net
beginning of year $989 · end of year $2,723
-
15 · Other assets
end of year $1,225,327
-
17 · Accounts payable and accrued expenses
beginning of year $6,830 · end of year $13,100
-
18 · Grants payable
beginning of year $2,000,000
-
19 · Deferred revenue
beginning of year $139,111 · end of year $17,659
-
25 · Other liabilities
end of year $1,279,924
-
27 · Net assets without donor restrictions
beginning of year $325,896 · end of year $271,931
Mission and programs · 2023
Mission
The organizations mission is to foster Wisconsins economic development by advocating, strengthening, and promoting the growth and development of Latino and other minority emerging enterprises to increase access to capital, business opportunities and job creation.
-
ARPA grant - Provide sustainability support and funding for businesses adversely affected by the Pandemic and subsequent inflation
Expenses $1,124,722 · Revenue $1,117,573
-
WEDC grant - Provide technical assistance to low to moderate income individuals. 300 people served.
Expenses $34,124 · Revenue $50,500
-
Latino Economic Unsummit convened corporations, government to address isssues affecting Latino owned business
Expenses $33,306 · Revenue $11,942
As filed on the 2023 return.
Listed in Part VII
-
Nelson Soler
President & Ex-Officio Board
- Total calculated
- $71,485
- From this org
- $71,485
- From related orgs
- $0
- Other
- $0
- Hours/week
- 25
-
Ricardo Ybarra
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Jeff Musa
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Alfredo Martin
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Leticia Munoz
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
J Maldonado
Treasurer
- Total calculated
- $0
- Hours/week
- 5
-
Johana Jimenez
Vice Chair
- Total calculated
- $0
- Hours/week
- 1
-
Amanda Roman
Secretary
- Total calculated
- $0
- Hours/week
- 5
-
Eliana Williams
Chairwoman
- Total calculated
- $0
- Hours/week
- 10
-
Ivan Cicla
Vice Chair
- Total calculated
- $0
- Hours/week
- 5
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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 9 May 2024
- IRS schema version
- 2023v5.1
- Source object
- 202413199349309096
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