2024-11-08T19:54:01-08:00 2023-12-31 EMILIO I RANA JR CPA 396 CYPRESS WAY BEAR DE 19701 990 2023-01-01 874075812 FUNDACION CENTRO LATINO INC FUND 3026557338 403 N VAN BUREN ST WILMINGTON DE 19805 JOHN MORTON CHIEF EXECUTIVE OFFICER 3026557338 2024-04-23 true true EMILIO I RANA JR P01459574 3028976065 2024-11-07 X 2023 2024-10-15 13:58:12Z JOHN MORTON 2300 MCDONOUGH ROAD WILMINGTON DE 19805 68033 false X N/A X 2021 DE FOR THE BENEFIT OF,TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF THE LATIN AMERICAN COMMUNITY CENTER, INC., A DELAWARE NONPROFIT,NONSTOCK CORPORATION. 3 3 0 0 0 0 1500000 0 0 -163446 68033 0 1336554 68033 0 0 0 0 0 12308 102 12308 102 1324246 67931 1336554 1404587 12308 12410 1324246 1392177 FOR THE BENEFIT OF,TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF THE LATIN AMERICAN COMMUNITY CENTER, INC., A DELAWARE NONPROFIT,NONSTOCK CORPORATION. false false 0 0 0 THE FOUNDATION HAS NO OPERATIONS DURING 2023. THERE WERE NO DISTRIBUTIONS MADE TO THE LATIN AMERICAN COMMUNITY CENTER. 0 true false false false false false false false false false false true false false false false false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false 0 0 0 false false false false false false false false false false X 3 3 false false false false false false false true true false false true true true true true true true true false EMILIO RANA 3024427704 403 N VAN BUREN ST WILMINGTON DE 19805 X JOHN MORTON CHAIRMAN AND CEO 1.00 X X 0 0 0 JOSE LOPEZ BOARD MEMBER X 0 0 0 FRED SEARS SECRETARY, BOARD MEMBER X 0 0 0 EMILIO RANA TREASURER AND CFO X 0 0 0 false false false 68033 0 0 68033 68033 0 0 FRANCHISE TAX 25 0 25 0 TAX FILING FEES 77 0 77 0 102 0 102 0 1336554 1404587 1336554 1404587 12308 12410 12308 12410 X 1324246 1392177 1324246 1392177 1336554 1404587 67931 X false false false X X 1 LATIN AMERICAN COMMUNITY CENTER INC 237047048 10 true 0 0 1 0 0 0 0 0 0 true false false false false false false false false false false false false false false true false true true true true X true true true true 0 F VANGUARD 1404587 F 1404587 X Pt X, Line 2 THE ENTITY IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE; THEREFORE, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE FINANCIAL STATEMENTS. IN ADDITION, THE ENTITY HAS BEEN CLASSIFIED AS ONE THAT IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509 (A) OF THE INTERNAL REVENUE CODE AND QUALIFIES FOR DEDUCTIBLE CONTRIBUTIONS AS PROVIDED IN SECTION 170(B)(1)(A)(VI). ALTHOUGH THE ENTITY IS NOT SUBJECT TO FEDERAL AND STATE INCOME TAXES, THE ENTITY IS REQUIRED TO ADHERE TO ASC 740, ACCOUNTING FOR INCOME TAXES, WHICH APPLIES TO ALL ENTITIES INCLUDING THOSE THAT ARE TAX EXEMPT. ASC 740 CLARIFIES THE ACCOUNTING AND REPORTING FOR INCOME TAXES WHERE INTERPRETATION OF THE TAX LAW MAY BE UNCERTAIN. ASC 740 PRESCRIBES A COMPREHENSIVE MODEL FOR THE FINANCIAL STATEMENT RECOGNITION, MEASUREMENT, PRESENTATION AND DISCLOSURE OF INCOME TAX UNCERTAINTIES WITH RESPECT TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN INCOME TAX RETURNS. MANAGEMENT HAS REVIEWED ITS CURRENT AND PAST FEDERAL INCOME TAX POSITIONS AND HAS DETERMINED, BASED ON CLEAR AND UNAMBIGUOUS TAX LAW AND REGULATIONS, THAT THE TAX POSITIONS TAKEN ARE CERTAIN AND THAT THERE IS NO LIKELIHOOD THAT A MATERIAL TAX ASSESSMENT WOULD BE MADE IF THE RESPECTIVE GOVERNMENT AGENCY EXAMINED TAX RETURNS SUBJECT TO AUDIT. ACCORDINGLY, NO PROVISION FOR THE EFFECTS OF UNCERTAIN TAX POSITIONS HAS BEEN RECORDED. CURRENTLY, THE DECEMBER 31,2021 AND 2022 TAX YEARS ARE OPEN AND SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. HOWEVER, THE ENTITY IS NOT CURRENTLY UNDER AUDIT NOR HAS THE ENTITY BEEN CONTACTED BY THIS JURISDICTION. ANY INTEREST AND PENALTIES RELATED TO INCOME TAXES WOULD BE RECORDED AS INCOME TAX EXPENSE. THERE ARE NO INTEREST AND PENALTIES AS OF DECEMBER 31, 2023. Pt VI, Line 11b THE CHAIRMAN AND TREASURER REVIEW THE 990 ON BEHALF OF THE BOARD. A FINAL COPY IS DISTRIBUTED TO THE BOARD BEFORE THE FILING OF FORM 990. Pt VI, Line 12c THE MEMBERS OF THE BOARD SIGN AN ACKNOWLEDGEMENT OF THE CONFLICT OF INTEREST POLICY ANNUALLY. Pt VI, Line 15a THE COMPENSATION OF THE CEO, TREASURER AND OTHER OFFICERS OR KEY EMPLOYEES OF THE ORGANIZATION ARE APPROVED BY THE BOARD OF DIRECTORS. THERE WERE NO COMPENSATION TO THE CEO, TREASURER AND OTHER OFFICERS OR KEY EMPLOYEES OF THE ORGANIZATION FOR THE YEAR ENDED DECEMBER 31, 2023. Pt VI, Line 15b THE COMPENSATION OF THE CEO, TREASURER AND OTHER OFFICERS OR KEY EMPLOYEES OF THE ORGANIZATION ARE APPROVED BY THE BOARD OF DIRECTORS. THERE WERE NO COMPENSATION TO THE CEO, TREASURER AND OTHER OFFICERS OR KEY EMPLOYEES OF THE ORGANIZATION FOR THE YEAR ENDED DECEMBER 31, 2023.