Nonprofit · EIN 04-2763724
LOCAL ENTERPRISE ASSISTANCE FUND INC
Tax-exempt · BOSTON, MA 02135
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| May 31, 2025 | 990 | $5,593,085 | $5,172,487 | $420,598 | $34,477,645 | $22,412,637 | $12,065,008 |
| May 31, 2024 | 990 | $5,216,398 | $4,323,969 | $892,429 | $31,143,770 | $19,499,360 | $11,644,410 |
| May 31, 2023 | 990 | $3,524,747 | $2,918,153 | $606,594 | $26,238,896 | $15,486,915 | $10,751,981 |
Financial details: 990 for the year ended May 31, 2025
Revenue
- Contributions, gifts and grants
- $3,870,413
- of which government grants
- $2,084,648
- Program service revenue
- $1,498,012
- Investment income
- $224,660
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $318,577
- Compensation of officers, directors and key employees
- $1,608,192
- Salaries, compensation and benefits (total)
- $2,985,611
- Professional fundraising fees
- $0
- Occupancy
- $77,987
- Program services (functional)
- $3,998,277
- Management and general (functional)
- $683,590
- Fundraising (functional)
- $490,620
Balance sheet and other
- Total assets, start of year
- $31,143,770
- Total assets, end of year
- $34,477,645
- Total liabilities, end of year
- $22,412,637
- Net assets, end of year
- $12,065,008
- Land, buildings and equipment
- $19,014
- Net assets without donor restrictions
- $12,065,008
- Gross receipts
- $5,593,085
- Employees
- 17
- Volunteers
- 9
- Year formed
- 1982
- State of legal domicile
- MA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended May 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| AMINE BENALI DIRECTOR | MANAGING DIRECTOR Key employee | 40 | $183,154 | $39,895 |
| CAROL ANN MCAULIFFE | CFO Key employee | 40 | $182,962 | $39,895 |
| GERARDO ESPINOZA DIRECTOR | EXECUTIVE DIRECTOR Trustee or director, Officer | 40 | $200,070 | $10,770 |
| CHRISTOPHER HUNTER DIRECTOR | ADVISORY SERVICE DIRE Trustee or director | 40 | $166,658 | $14,757 |
| JOSE LUIS ROJAS DIRECTOR | CHIEF LENDING OFFICER Key employee | 32 | $169,238 | $7,655 |
| MARY WONG | SENIOR LOAN OFFICER Highest-paid employee | 40 | $125,838 | $30,528 |
| JAMES LOUNEY | RETIRING CFO Former | 40 | $149,751 | $1,843 |
| FATIHA AINANE | SENIOR FINANCIAL ANAL Trustee or director | 40 | $130,809 | $14,757 |
| JOSHUA GLICKENHAUS | SENIOR LOAN OFFICER Highest-paid employee | 40 | $136,154 | $6,360 |
| ALAN SINGER | SENIOR LOAN OFFICER Highest-paid employee | 40 | $118,953 | $20,006 |
| JORDAN BROWNE | FINANCIAL ANALYST Highest-paid employee | 40 | $123,349 | $14,757 |
| VIRGINIA BERMAN | DIR. OF COMM. & MARKETING Highest-paid employee | 40 | $124,969 | $6,233 |
| MATTHEW PIRES | FINANCIAL ANALYST Trustee or director | 40 | $118,880 | $2,461 |
| DAMILOLA ODETOLA | DIRECTOR & TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| ALEXANDER PYLE | DIRECTOR & CLERK Trustee or director, Officer | 2 | $0 | $0 |
5 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CHRISTINE CLAMP | DIRECTOR & CHAIRPERSON Trustee or director, Officer | 2 | $0 |
| TERRY LEWIS | DIRECTOR Trustee or director | 1 | $0 |
| DAVID HAMMER | DIRECTOR Trustee or director | 1 | $0 |
| JOHN SMITH | DIRECTOR Trustee or director | 1 | $0 |
| SHELLEY MILLER | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended May 31, 2024: 15 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| GERARDO ESPINOZA DIRECTOR | LEAF EXECUTIVE DIRECTOR Trustee or director | 40 | $171,286 |
| AMINE BENALI DIRECTOR | LEAF MANAGING DIRECTOR Highest-paid employee | 40 | $160,950 |
| JOSE LUIS ROJAS DIRECTOR | LEAF CHIEF LENDING OFFICER Highest-paid employee | 32 | $148,867 |
| CHRISTOPHER HUNTER DIRECTOR | LEAF ADVISORY SERVICE DIRECTOR Trustee or director | 40 | $135,124 |
| CONOR MCFARLAND | LEAF DEVELOPMENT MANAGER - TERMED OCT 2024 Highest-paid employee | 40 | $114,904 |
| ALAN SINGER | LEAF SENIOR LOAN OFFICER Highest-paid employee | 40 | $109,034 |
| MATHEW PIRES | LEAF FINANCIAL ANALYST Trustee or director | 40 | $76,068 |
| FATIHA AINANE | LEAF SENIOR FINANCIAL ANALYST Trustee or director | 40 | $46,081 |
| DAMILOLA ODETOLA | DIRECTOR & TREASURER Trustee or director, Officer | 2 | $0 |
| ALEXANDER PYLE | DIRECTOR & CLERK Trustee or director, Officer | 2 | $0 |
| CHRISTINE CLAMP | DIRECTOR & CHAIRPERSON Trustee or director, Officer | 2 | $0 |
| TERRY LEWIS | DIRECTOR Trustee or director | 1 | $0 |
| DAVID HAMMER | DIRECTOR Trustee or director | 1 | $0 |
| SHELLEY MILLER | DIRECTOR Trustee or director | 1 | $0 |
| JOHN SMITH | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended May 31, 2023: 12 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| GERARDO ESPINOZA DIRECTOR | LEAF EXECUTIVE DIRECTOR Highest-paid employee | 40 | $160,561 |
| AMINE BENALI DIRECTOR | LEAF MANAGING DIRECTOR Highest-paid employee | 40 | $147,734 |
| JOSE LUIS ROJAS DIRECTOR | LEAF CHIEF OPERATING OFFIC Highest-paid employee | 32 | $134,921 |
| CHRISTOPHER HUNTER DIRECTOR | LEAF DVISORY SERVICE DIRECTOR Highest-paid employee | 40 | $113,353 |
| JOSH GLICKENS DIRECTOR | LEAF DEVELOPMENT MANAGER Highest-paid employee | 40 | $113,281 |
| CHRISTINE CLAMP | DIRECTOR & CHAIRPERSON Trustee or director, Officer | 0 | $0 |
| DAMILOLA ODETOLA | DIRECTOR & TREASURER Trustee or director, Officer | 0 | $0 |
| ALEXANDER PYLE | DIRECTOR & CLERK Trustee or director, Officer | 0 | $0 |
| DAVID HAMMER | DIRECTOR Trustee or director | 0 | $0 |
| SHELLEY MILLER | DIRECTOR Trustee or director | 0 | $0 |
| KERWIN TESDELL | DIRECTOR Trustee or director | 0 | $0 |
| TERRY LEWIS | DIRECTOR Trustee or director | 0 | $0 |
Address and contacts
- Address (IRS master file)
- 386 WESTERN AVE, BOSTON, MA 02135-1011
- Principal officer (990 for 2024)
- GERARDO ESPINOZA, 386 WESTERN AVENUE, BOSTON, MA 02135
- Signed the 990
- GERARDO ESPINOZA, EXECUTIVE DIRECTOR
- Phone
- (617) 232-1551
- Website
- WWW.LEAFFUND.ORG
- Return prepared by
- MILLER WACHMAN LLP
Mission
LEAF'S MISSION IS TO PROMOTE HUMAN AND ECONOMIC DEVELOPMENT BY PROVIDING FINANCING AND DEVELOPMENT ASSISTANCE TO COOPERATIVES AND SOCIAL PURPOSE VENTURES THAT CREATE AND RETAIN JOBS FOR LOW-INCOME PEOPLE.
Program accomplishments
- LEAF'S FINANCING ACTIVITIES ARE DIRECTED TOWARDS COMPANIES THAT HAVE THE FOLLOWING FOCUS:1) HEALTHY FOODS;2) AFFORDABLE HOUSING;3) COOPERATIVE OWNERSHIP;4) EMPOWERMENT OF LOW-INCOME PEOPLE TO CREATE AND MANAGE THEIR OWN BUSINESSExpenses $3,998,277 · grants $318,577 · revenue $1,498,012
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in May, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | May 31, 2026 | October 15, 2026 | Not on file |
| 2024 | May 31, 2025 | October 15, 2025 | 990 on file |
| 2023 | May 31, 2024 | October 15, 2024 | 990 on file |
IRS record
- EIN
- 04-2763724
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2020
- Accounting year ends
- May
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Employment (J19)
- Assets (IRS master file)
- $34,477,645
- Income (IRS master file)
- $5,593,085
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | May 2025 | $5,593,085 | $5,172,487 | $34,477,645 | XML |
| 990 | May 2024 | $5,216,398 | $4,323,969 | $31,143,770 | XML |
| 990 | May 2023 | $3,524,747 | $2,918,153 | $26,238,896 | XML |
| 990 | May 2022 | $8,343,201 | $2,679,863 | $24,155,726 | IRS |
| 990 | May 2021 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 04-2763724).
Questions about LOCAL ENTERPRISE ASSISTANCE FUND INC
- What is the EIN of LOCAL ENTERPRISE ASSISTANCE FUND INC?
- The employer identification number (EIN) of LOCAL ENTERPRISE ASSISTANCE FUND INC is 04-2763724.
- Is LOCAL ENTERPRISE ASSISTANCE FUND INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2020.
- Are donations to LOCAL ENTERPRISE ASSISTANCE FUND INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does LOCAL ENTERPRISE ASSISTANCE FUND INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of LOCAL ENTERPRISE ASSISTANCE FUND INC due?
- The return for tax year 2025 (the year ending May 31, 2026) is due October 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LOCAL ENTERPRISE ASSISTANCE FUND INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended May 2025.
- Who is the principal officer of LOCAL ENTERPRISE ASSISTANCE FUND INC?
- The 990 for the year ended May 31, 2025 names GERARDO ESPINOZA.
- Who are the officers and directors of LOCAL ENTERPRISE ASSISTANCE FUND INC?
- The 990 for the year ended May 31, 2025 lists 20 people; 13 received compensation from the organization, the highest $183,154 (AMINE BENALI DIRECTOR, MANAGING DIRECTOR).
- How much revenue does LOCAL ENTERPRISE ASSISTANCE FUND INC have?
- On its 990 for the year ended May 31, 2025 it reported revenue of $5,593,085, expenses of $5,172,487 and total assets of $34,477,645 at year end.
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