2010 Annual Report
Dear members and friends,
2010 was full of challenges, but LEDC was able to convert those challenges into
opportunities. We are pleased to let you know that LEDC was able to grow, and
at the same time, to keep providing the critical technical assistance our members
needed, when they needed it.
Some of the most significant accomplishments during 2010 were:
a) LEDC received certification as a Community Development Financial
Institution (CDFI) by the US Department of Treasury
b) LEDC’s Latino Academy Teocalli Tequiotl (house of collective work)
officially became a Opportunities Industrialization Center member of the
Minnesota State Council of OIC’s, and OIC America
c) We secured economic support in the amount of $800,000 from the Office
for Community Services in order to support real estate/community
development projects that create new jobs
d) We secured, for the first time since our inception, $225,000 from
the USDA in order to promote development of cooperatives in rural
Minnesota.
Thanks to the generous support from the Wells Fargo Foundation, we were able
to launch our new web page, with several features that will allow us to serve
our members better, and our new state of the art training center was officially
inaugurated on May 17, 2010.
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Vision
Ramón León, President and CEO
A thriving multicultural community enriched by Latino leadership, culture, and
economic influence.
John Flory, Special Projects Director
organizations in Oregon, Washington DC, Wisconsin, Texas and Minnesota. We
also provided site visits to sister organizations in Portland, Oregon, and Racine,
Wisconsin where similar projects are being pursued.
LEDC had the privilege to present at the Corporation for Enterprise
Development’s (CFED) Social Innovators Marketplace in Washington DC, and
LEDC staff also presented at NALCAB’s annual conference in San Antonio,
Texas. We presented at the annual meeting of the Rural Coalition in Washington,
DC in December, and we started exploring opportunities to pursue a national
strategy of economic development in rural locations in the US with Latino
farmers and ranchers.
Last, LEDC’s work was recognized twice at the international level. We were
awarded the Cordes Fellowship for the Opportunity Collaboration in Ixtapa,
Mexico, which gathers the most respected individuals from the corporate, non
profit, philanthropic, and government sectors from around the world in order
to form collaborations to address and overcome poverty. We also had the high
honor of being selected as a delegate at the United Nations “Global Forum on
Migration and Development” in Puerto Vallarta 2010.
As you can see it was a busy year despite the recession, which we are confident
will come to an end soon. The staff of LEDC and the Board of Directors thank
you for your support and we look forward to continuing our progress in 2011.
Yolanda Cotterall, Greater Minnesota Program Manager
Jaime Villalaz, Greater MN Business Development Specialist
Mónica Romero, Loan Program Director
Daniel Bonilla, Latino Academy, TTOIC Director
Emily Sorensen, Human Development Program Coordinator
Sara Lopez, Outreach and Training Program Coordinator
Robert Nieto, Outreach and Training Program Coordinator
Matt Kasinka, Program Development
Rocio Bustillos, Membership Services and Office Management
LEDC Board 2010
Maria Boyle
J&B Group
J uan Linares, Vice Chair
Sagrado Corazón De Jesús
(Community Center)
Miguel Zagal
Taquería La Hacienda
Rafael Quintero
Globe University/ Minnesota
School of Business
Ronald Lezama
Chairman
To transform our community by creating economic opportunity for Latinos.
Core Functions
v Assist entrepreneurs with establishing and growing their businesses.
vD
evelop public markets and commercial corridors with Latino business
participation.
vB
uild membership to improve access to resources for Latino businesses.
vP
romote just, sustainable, and ethical business practices; healthy, respectful
work environments; social responsibility; and economic justice.
Ronald Lezama, Chair
Oracle Corporation.
Elvira Flores, Secretary
F&F Janitorial Svcs.
Ramón León
President and CEO
Mission
Core Values
Leo Lopez, Treasurer
Bremer Bank
In greater Minnesota, we have strengthened our relationship with our partners,
Centro Campesino and the Southern Minnesota Initiative Foundation, where a
feasibility study for a new public market/business incubator will be conducted in
2011 in order to offer employment and business development opportunities in a
building owned by Centro Campesino in Owatonna.
The second annual weeklong training class on how to develop public markets
as models of effective community development took place in June, thanks to
support from the National Association for Latino Community Asset Builders
(NALCAB), which secured support for its member organizations from
Sam’s Club. This training class was attended by fourteen participants from
LEDC Staff 2010
Carlos Landreau
Landreau Insurance Group.
Idalia Leuze
West Central
Integration Collaborative
Jennifer Godínez
MN College Access Network
vD
evelop Latino talent, leadership, civic engagement, and political influence.
v Affirm and reflect the strengths of Latino culture and language.
v L isten to and act in the best interests of our membership; contribute our
wisdom and experience for the betterment of all members.
L orenzo Ariza
Salsa a la Salsa Restaurant
Thomas Pantallion
US Bancorp
Mike Temali
Neighborhood
Development Center
Enrique Garcia
Cafetería La Loma
Salvador Miranda
Organizing
Apprenticeship Project
Latino Ecomomic
Development Center, Plaza Verde
1516 E. Lake Street
Suite 201
Minneapolis, MN 55407
(612) 724-5332
1-877-724-LEDC (5332)
www.ledc-mn.org
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Special Projects
2010 Public Markets Training
In 2010 LEDC received an $800,000 grant from the
federal Office of Community Services to establish
a real estate investment fund to assist its members
in purchasing properties. LEDC invested $200,000
in the expansion of Taquería Los Ocampo to
purchase a building at White Bear Avenue and
I-94 and provided substantial support in securing
financing and assisting in development steps in
the purchase and renovation of the building. LEDC
also negotiated a purchase of the former MeGusta
Place building relying on this same pool of funding
for an equity investment. This fund is designed to
operate as a revolving fund, and will be used to
leverage the purchase of a succession of real estate
projects.
Another special project that was initiated in 2010
was the first step towards a partnership with
Centro Campesino to collaboratively open a public
market in downtown Owatonna. This would be
a significant achievement in expanding our rural
program.
Business, Technical Assistance,
and Business Loans News
We are pleased with the number of people LEDC assisted
in 2010. Individuals looking to become business owners as
well as existing businesses received valuable information
and support.
Cafetería Las Tapatías
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Lizmabet Beauty Salon
Through our monthly orientation sessions in 2010, 143
people received information on what are the basics of
starting a business: feasibility steps, how LEDC can assist
in the process, and the benefits of becoming a member of
LEDC; as well as information on who LEDC is and what we
have done.
Through our monthly Business Loan Process Orientation
session that started in September of 2010, 16 people
received information on how to prepare for a business
loan either through LEDC or through a traditional lender
(bank) or non-traditional lender (community development
non-for-profit organizations). 127 people benefited from
Another rural program and special projects collaboration
resulted in securing a USDA grant to study the feasibility of
agricultural cooperatives among immigrants and provide
education to groups intent on forming cooperatives. This is
a significant expansion of our rural business development
work and has resulted in forming a partnership with Land
Stewardship Project to train new immigrant farmers and
support their development.
strong potential exists for developing integrated
food systems that stretch from production to
processing, distribution and delivery of a finished
product to the customer, that are responsive to
the interests of Latino communities.
individual business assistance. Over 970 hours were
provided to existing businesses with one-on-one sessions
being most of the hours. More than 300 of the 970 hours
were provided to businesses on the Lake Street and
Central Avenue corridors in Minneapolis.
The LEDC Loan Program continues to celebrate CDFI
certification which was granted in March of 2010. We have
gained lending experience by being members of other
organization’s loan committees and by packaging
loan deals. We updated our loan manual by
adding a loan risk rating and loan loss reserve
system and by applying for loan funds. In
2010 LEDC packaged 8 loans totaling
$1,002,000 and presented them to
various lenders. Three lenders
approved the proposals
benefiting 4 businesses
which provided 40 new
jobs and kept 37
existing jobs.
v 2008, LEDC began workforce
development trainings
v 2009, LEDC started Latino Academy TTOIC
by conversations with the State Council OIC
to incorporate it as a member
v 2010, TTOIC formally incorporated
and opened
As a part of our goal to pool economic resources, LEDC is
supporting the development of a chapter of the Mexican
Restaurant Association in Minnesota. MERA was formed
to advance the development of Mexican cuisine in the
United States and to strengthen the economic power of
Mexican restaurant owners. LEDC is evaluating the viability
of creating a purchasing cooperative owned by Mexican
restaurants.
LEDC has also joined the Rural Coalition, a group of
minority farmers and ranchers that includes Latinos,
African Americans, Native Americans, and Asian groups
working together to promote successful food production
businesses owned by ethnic farmers. We believe that a
TTIOC Grand Opening
We empower individuals by combining
adult education and job readiness.
Racine Visit
MN Latino Leadership
Academy. Mónica
Romero and Daniel
Bonilla (left) completed
the MN Latino
Leadership Academy
program with The
Center for Leadership
Innovation and HACER.
Luis Ortiz has lived in Minnesota
for the past 16 years. Looking for
career counseling, Luis joined
Latino Academy TTOIC in 2010.
Through our program, Luis received
one-on-one instruction on how
to perform online job searches,
and also enrolled in two of our
computer skills classes. After
receiving our training, Luis was able
to e-mail his resume to various employers,
landing a full time salaried position with a
cleaning company. His dream of owning a
well-established cleaning business and he
is doing it while employed. Thanks to his
outstanding work ethic, he is slowly building
a solid client base. And he is applying the
skills he learned in computer class, using Microsoft Excel to make
the most out of inventories and create invoices.
Marcia Tapia has participated in the Workforce Development
Program and appreciates how it has helped her cleaning
cooperative. “We made a resume and the Latino Academy
TTOIC has helped me through the process of submitting it
to different employers for sub-contracting opportunities for
the cooperative. When you ask a favor, you are never denied.”
Marcia noted that she is thankful to everyone at the LEDC. Her
cooperative needs particular help with administrative functions
and almost everyone in the organization has lent a hand to
their best capacity. She also wanted to highlight John Flory
as someone who has always been her greatest support and
motivator.
v March 2010 opened the first satellite office
in Willmar, MN.
v Priority work areas: Business Training,
Workforce Development and Certifications.
v Two new satellite offices through leases in
Sagrado Corazón De Jesús in Minneapolis
and in Neighborhood House in Saint Paul.
v In 2010, TTOIC served total of 583 clients.
B391 through the business
training program.
B206 through the workforce
development program.
– 26 placements.
– 6
0 job enhancement and retentions.
B35% are women.
B7% youth.
v TTOIC trained other 14 individuals that
represented 7 organizations from 6 States
nationwide, on the “Public Markets as a tool
for Economic Development” training.
v TTOIC employed 4 full time staff, and
operated with 3 Interns and 6 instructors.
LEDC had 40 volunteers in 2010.
vTTOIC is currently conducting the feasibility
to open new programs, including in the
Construction and Green businesses field.
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The past year has been a phenomenal year for expansion and
funding for our Rural Initiative. We have expanded; if not our
reach our influence. Our connection and relationship building
with important partners in rural Minnesota has enabled us to
reimage the possibilities and way we can impact prosperity and
equity for Latino living and working in communities outside of
the Twin Cities.
Photos At-A-Glance:
1–WAMM office in Willmar and
TTOIC satellite office
2–Food Manager Certification class
3–Workforce Development Session
4–Plaque honoring work of LEDC’s staff in
Greater MN
5–LEDC clients in Big Lake, MN
6–Human Development Session
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We have been able to diversify our funding and we are
now supported by not just our local foundations; Blandin,
Northwest Area Foundation and Bremer to do organizing
and offer business development and training services in rural
communities. But we have also been recognized and are being
funded by USDA through Rural Development, to explore and
study a variety of “Cooperative Development” strategies that
have the potential to support small and beginning Latino and
Hmong farmers and ranchers.
We have also been awarded State dollars via Department
of Employment and Economic Development (DEED), via a
partnership with the City of Willmar and County of Kandiyohi
Economic Development Commission; have been provided
funding to do business technical assistance and training
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3
6
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through the Willmar Area Multicultural Market (WAMM*). This
relationship and collaboration with WAMM is a model of our rural
work and an example of best practices in linking Metro resources
in support of rural opportunities for minorities in Greater
Minnesota communities.
We have also grown and increased our staff. We were very
lucky to be able to bring Jaime Villalaz on board as a Business
Development Specialist. Jaime went through our Train the Trainer
program and has excellent leadership skills and an extensive
network of contact in rural Latino communities.
We have had much interest and are in discussion with Willmar
through WAMM and Centro Campesino in Owatonna with regard
to the development of public markets in these communities.
These partners believe in their communities’ ability to build and
support these public markets and they also believe that Latino
Economic Development Center is the best partner to be in
discussion with about this type of development.
Latino Scholarship
Fund Contributors
Support the Fund!
Buy LSF Products!
Foundations, Businesses, and Individuals
(in alphabetical order)
Call 612-724-5332 to
place your order.
Every year we get many scholarship applications – many more than we
can award. We are pleased to meet all these talented applicants and
encourage their interest in pursuing higher education. We urge the
public to keep supporting young students by donating to LEDC’s Latino
Scholarship Fund. The 2010 recipients received a special mention
during our 2010 Annual Meeting. The recipients were: (left to right)
LSF Scholarship:
Gerardo Dominguez,
$3,000.00
LSF Selection Committee at work
LEDC’s rural program has become an important resource for
economic development in out state and in making connections
with and for Latinos who aspire to live and raise their families in
Minnesota.
George Linares Scholarship:
Luis H Hernandez, $3,000.00
Ramiro Hernandez
Scholarship:
Yolisbeth Sanchez Ruiz,
$3,000.00
* WAMM changed its name to Willmar Area Multicultural Business Center (WAMBC) as of
February of 2011.
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2010 LEDC AWARDS
LEDC’s Rural Initiative
Friend and/or
Volunteer of the Year:
Elda Macías
Socially Reponsible
Business of the Year:
A la Salsa Restaurant
Female Entrepreneur
of the Year:
Claudia Jiménez
or her generous donation of
F
work, time, and commitment
to LEDC and the Latino
Community in Minnesota.
his award recognizes the
T
business that gives back to the
community, has been a role
model, and gives its employees
incentives and promotions.
Because of the role she has played
as mother, business owner and
community supportive person.
Because she has been a leader,
and because she has successfully
operated her business.
Amber Hanson
Ameriprise (Matching Contribution)
Ana Luisa Fajer
Ana Placencia
Angelica Garcia
Angelina Matias
Ann James
Brian Moen & Patricia Moen
Dabiel Abebe & Jodi Bantley
Elda Macias
Emily Bartholomew
Emily Soresen
Herceb Computers
Jennifer Godinez
Jessica Lopez Lyman & Debbie Lyman
Julio Cabrera
Keith Holmes
Krauss Language Solutions
Law Office of Gloria C Edin
Lorenzo Ariza
Maria Pabon & Josemy Morales
Marietta Bongiovanni
Maritza & Carlos Mariani
MN Hispanic Bar Association
Mónica Romero
Pamela Zeller
Ramon Leon
Rodrigo Marquez
Rolando Borja
Ron Lezama & Meg Rustad
Salvador Miranda
Sandra L Vargas
Sara Axtell
Seth Patterson & Nora Patterson
Sonia Leon-Valadez
The Saint Paul Foundation
Thomas & Deborah Pantalion
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Statement of Financial Position of LEDC for the Year 2010
(Unaudited)
Assets
Liabilities and Net Assets
Current assets $403,249
Current liabilities
$22,565
Property and Equipment (Net)
$72,795
Long term liabilities
$9,723
Other Assets $10,250
Net Assets $454,006
Total Assets: $486,294
Total Liabilities and Net Assets: $486,294
LEDC Revenue 2010
Grant Revenue
$330,950.18
Program Services
$423,449.23
Government Revenue
$20,000.00
LSF Endowment Fund
$15,361.32
Membership Dues
$7,710.00
Other Income
$20,592.23
Total Revenue:
$818,062.96
LEDC Expenses 2010
Program Services $685,932
Management & General $128,274
Total Expenses:
$814,206
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2010 Sources of Revenue (in alphabetical order)
Ameriprise Foundation
Bank of the West
Blandin Foundation
Bremer Bank
City of Minneapolis’ Department of Planning and Economic
Development (CiPED)
HE & Helen Warren Foundation
McKnight Foundation
McNeely Foundation
National Association for Latino Community Asset Builders (NALCAB)
Northwest Area Foundation
Otto Bremer Foundation
Sam’s Club
State Council of Opportunities Industrialization Center (OIC)
The Jay and Rose Phillip Family Foundation
The Minneapolis Foundation
Travelers Foundation
US Department of Health and Human Services, Office of
Community Services (OCS)
United States Department of Agriculture (USDA)
US Bancorp Foundation
LEDC Partners
(in alphabetical order)
A MN Without Poverty
Accountability MN
African Development Center
Centro Campesino
City of Minneapolis’ Department of Planning and Economic
Development (CiPED)
Institute of Mexicans abroad (IME)
Kandiyohi County Economic Development Commission
Lake Street Council
Land Stewardship Program
Metropolitan Consortium of Community Developers
Metropolitan Economic Development Association
Midwest Rural Assembly
Migration and Development AC (MIDE, AC)
National Association for Latino Community Asset Builders (NALCAB)
Neighborhood Development Alliance (NeDA)
Neighborhood Development Center
Office of the Mexican Consulate in St Paul MN
Powderhorn Phillips Cultural Wellness Center
Rural coalition
Rural Initiative Foundations
Small Business Development Centers
State Council of Opportunities Industrialization Center (OIC)
Willmar Area Multicultural Market
Other Community Organizations, Including neighborhood and
business associations and faith-based institutions.