Latino Economic Development Center (Ledc)
Latino Economic Development Center (Ledc)
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About this organization
Mission
Working families deserve to live in affordable homes and own successful small businesses, but too many are unable to turn those dreams into a reality. The Latino Economic Development Center (LEDC) equips Latinos and other underserved communities in DC, MD, VA, and Puerto Rico with the skills and financial tools to create a better future for their families and communities. Participants in our programs learn how to buy and stay in their homes, join with their neighbors to keep their rental housing affordable, and start or expand small businesses. Learn more at ledcmetro.org
About
LEDC'S HOMEOWNERSHIP COUNSELING PROGRAM (REGIONAL): THE HOMEOWNERSHIP DEPARTMENT IS A HUD-CERTIFIED HOUSING COUNSELING AGENCY THAT HELPS FAMILIES IN THE DC REGION BUILD SOUND FINANCIAL MANAGEMENT SKILLS, BUY THEIR FIRST HOME, AND SAVE THEIR HOMES FROM FORECLOSURE. IN THE DISTRICT OF COLUMBIA AND MARYLAND, OUR HOUSING COUNSELORS HELP PROSPECTIVE FIRST-TIME HOMEBUYERS UNDERSTAND THE PROCESS AND RESPONSIBILITIES OF HOMEOWNERSHIP AND ACCESS LOCAL FINANCING TO PUT THE COST OF HOMEOWNERSHIP WITHIN REACH. WE ALSO ASSIST HOMEOWNERS AT-RISK FOR FORECLOSURE QUALIFY FOR ASSISTANCE PROGRAMS AND FIGHT HOUSING SCAMS. FAMILIES WORK CLOSELY WITH OUR COUNSELORS TO STRENGTHEN THEIR FINANCIAL PRACTICES AND IDENTIFY THEIR BEST LONG-TERM HOUSING SOLUTION. THE DEPARTMENT HAS ADOPTED THE NATIONAL INDUSTRY STANDARDS FOR HOMEOWNERSHIP EDUCATION AND COUNSELING. IN FY2019, LEDC EDUCATED AND COUNSELED 2,054 TO MODERATE INCOME RESIDENTS THROUGH COURSES AND COUNSELING. LEDC STAFF COUNSELED 633 LOW TO MODERATE RESIDENTS ON SOUND FINANCIAL PRACTICES AND RESPONSIBLE HOMEOWNERSHIP. AS A RESULT, 113 LOW TO MODERATE INCOME FAMILIES PURCHASED THEIR FIRST HOME. 106 CLIENTS SUBMITTED DC HOME PURCHASE ASSISTANCE PROGRAM (HPAP) APPLICATIONS. IN ADDITION, 44 FAMILIES RECEIVED FORECLOSURE COUNSELING.
Interesting data from their 2020 990 filing
The non-profit's aim, as indicated in the filing, is “The latino economic development center's (ledc) mission is to drive the economic and social advancement of low- to moderate-income latinos and other underserved communities in the dc and baltimore metropolitan areas by equipping them with the skills and tools to achieve financial independence and become leaders in their communities.”.
When referring to its functions, they were specified as: “The latino economic development center's (ledc) mission is to drive the economic and social advancement of low- to moderate-income latinos and other underserved communities in the dc and baltimore metropolitan areas by equipping them with the skills and tools to achieve financial independence and become leaders in their communities.”.
- The non-profit has reported their operating state as DC, as required by law.
- As stated in the filing, the non-profit's address in 2020 was 1401 COLUMBIA RD NW UNIT C-1, WASHINGTON, DC, 20009.
- The non-profit's form reports a total of 59 employees as of 2020.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $1,337,035.
- The organization has 10 independent voting members.
- The organization was formed in 1991.
- The organization pays $2,868,420 in salary, compensation, and benefits to its employees.
- The organization pays $312,524 in fundraising expenses.