We performed LES simulation of tropical cumulus clouds initialized with soundings from the RICO field project (vanZanten et al. 2011, JAMES). Our analysis concentrated on thermodynamic characteristics of convective clouds, specifically on relationships between the condensation/evaporation rates and cloud micro-physical and dynamical parameters. Such relationships are important for developing parameterizations of the sub-grid latent heat release on the grid size typical for a mesoscale model. The simulation was conducted using an integration domain of 50km; about 2000 clouds were selected for analysis over the course of the 28 hour simulation. The condensation/evaporation rates were analyzed by stratifying the clouds by their size (cloud top). The analyzed parameters included, among others, integral mass and buoyancy flux, cloud and rain water, supersaturation. The results of the analysis revealed a rather remarkable relationship between integral latent heat released in a cloud and cloud’s integral mass flux. This relationship may form the basis for parameterization development of latent heat release.