Better Business Bureau Report for
Instituto del Progreso Latino

Better Business Bureau Report issued June 2016
Better Business Bureau Report expires June 2018


Does not meet one or more standards
This charity does not meet one or more of the 20 standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Instituto del Progreso Latino
Address: 2520 South Western Avenue
  Chicago, IL 60608
Phone: 773-890-0055
Web Address: www.institutochicago.org
Also known as:Institute for Latino Progress
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Better Business Bureau Comments

Year, State Incorporated: 1977, Illinois
Affiliates: Instituto Health Sciences Career Academy, Instituto Justice and Leadership Academy
Stated Purpose: Instituto's mission is to contribute to the fullest development of Latino immigrants and their families through education, training, and employment that fosters full participation in the changing United States society while preserving cultural identity and dignity.

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Evaluation Conclusions

              

Instituto del Progreso Latino does not meet the following Standard for Charity Accountability.

Standard 16: Annual Report - Have an annual report available to all, on request, that includes: (a) the organization's mission statement, (b) a summary of the past year's program service accomplishments, (c) a roster of the officers and members of the board of directors, (d) financial information that includes (i) total income in the past fiscal year, (ii) expenses in the same program, fund raising and administrative categories as in the financial statements, and (iii) ending net assets.

Instituto del Progreso Latino does not meet this standard because the most recent annual report did not include:

  • Total end of year net assets.
Instituto del Progreso Latino meets the remaining 19 Standards for Charity Accountability.
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Programs

              

Instituto del Progreso Latino (Instituto) is an education community center serving 10,000 families annually through adult basic education, workforce development, career and employment assistance, citizenship services, financial literacy, youth education, and more. The organization manages two public charter high schools, the Instituto Health Sciences Career Academy (IHSCA), dedicated to preparing young people for successful careers in healthcare, and the Instituto Justice and Leadership Academy, an alternative high school that is reengaging Chicago's out-of-school youth. Instituto creates, researches, and implements programs to reach high-potential learners in the community who are often undeserved by traditional education systems.

For the fiscal year ended June 30, 2015, Instituto del Progreso Latino's program expenses were:

  
Workforce development 3,165,793
Adult education 1,454,089
Youth development 654,001
Citizenship 325,271
Total Program Expenses: $5,599,154
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Governance

              

Chief Executive : Juan Salgado, President and Chief Executive Officer
Compensation*: 
$144,354

Chair of the Board: Mirna T. Holton
Chair's Profession / Business Affiliation: CEO, Garcia Holton Social Impact Advisors

Board Size: 14

Paid Staff Size: 126

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

              

Method(s) Used:

direct mail, invitations to fund raising events, grant proposals, internet
Fund raising costs were 8% of related contributions. (Related contributions, which totaled $3,814,450, are donations received as a result of fund raising activities.)
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Tax Status

              

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

              

The following information is based on Instituto del Progreso Latino's audited financial statements for the fiscal year ended June 30, 2015.

Source of Funds  
Government grants and contract fees 3,515,557
Foundation and private grants 2,215,047
Rent, related parties 1,267,773
Management fees 694,895
Contributions 298,893
Other revenue 217,138
Gains on interest rate exchange agreement 56,476
Total Income $8,265,779


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Uses of Funds as a % of Total Expenses

Programs: 66%  Fund Raising: 4%  Administrative: 30% 

Total income $8,265,779
Program expenses $5,599,154
Fund raising expenses 322,366
Administrative expenses 2,556,511
Total expenses $8,478,031
Expenses in Excess of Income (212,252)
Beginning net assets 13,757,917
Ending net assets 13,545,665
Total liabilities 29,271,678
Total assets $42,817,343


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