2024-12-11T05:27:58-06:00 2024-01-31 861065772 DELOITTE TAX LLP 695 TOWN CENTER DRIVE SUITE 1000 COSTA MESA CA 92626 990 2023-02-01 954501165 THE LATIN ACADEMY OF RECORDING ARTS & SCIENCES INC LATI 3055760036 3470 NW 82ND AVENUE 600 MIAMI FL 331221028 JAVIER AGUIRRE CFO 3055760036 2024-12-10 1 0 JESSICA KARANTONIS P00969387 7144367100 2023 2024-10-15 13:58:12Z THE LATIN RECORDING ACADEMY MANUEL ABUD 3470 NW 82ND AVENUE 600 MIAMI FL 331221028 55244147 0 X WWW.LATINGRAMMY.COM X 1994 DE THE ORGANIZATION'S MISSION IS TO ADVANCE THE ARTS AND SCIENCES OF RECORDING LATIN MUSIC 19 19 47 120 0 0 129437 4194667 24853575 36399872 -292632 225096 366297 484690 25056677 41304325 1400000 1742050 0 0 7213729 8072553 0 0 0 15107909 27630741 23721638 37445344 1335039 3858981 40809726 47001986 5829261 6316321 34980465 40685665 X THE LATIN ACADEMY OF RECORDING ARTS & SCIENCES, INC. WAS ESTABLISHED BY THE NATIONAL ACADEMY OF RECORDING ARTS & SCIENCES TO ADVANCE THE ARTS AND SCIENCES OF RECORDING AND TO FOSTER CREATIVE LEADERSHIP FOR ARTISTIC, CULTURAL, EDUCATIONAL, AND TECHNICAL PROGRESS IN THE RECORDING FIELD IN LATIN AMERICA AND THE LATIN COMMUNITY OF THE UNITED STATES. A PRIMARY ACTIVITY OF THE ORGANIZATION IS THE RECOGNITION OF OUTSTANDING CREATIVE AND TECHNICAL ACHIEVEMENTS IN THE RECORDING ARTS BY ARTISTS IN THE LATIN COMMUNITY WHO ARE DEEMED TO BE MOST WORTHY BY THEIR COLLEAGUES THROUGH AN ANNUAL PRESENTATION OF AWARDS. 0 0 THE LATIN GRAMMY AWARDS EVENT: AN ANNUAL EVENT TO RECOGNIZE THE EXCELLENCE IN MUSIC AND ITS CREATORS. THE 24TH ANNUAL LATIN GRAMMY AWARDS WAS HELD ON NOVEMBER 16, 2023 IN SEVILLE, SPAIN. THE LATIN GRAMMY PREMIER EVENT: AN ANNUAL EVENT TO RECOGNIZE THE EXCELLENCE IN MUSIC AND ITS CREATORS. THE 24TH ANNUAL LATIN GRAMMY AWARDS WAS HELD ON NOVEMBER 16, 2023 IN SEVILLE, SPAIN BEFORE THE TELECAST OF THE LATIN GRAMMY AWARDS EVENT. THE PERSON OF THE YEAR EVENT: AN ANNUAL EVENT TO HONOR AN ARTIST CAREER FOR HIS/HER EXCELLENCE IN LATIN MUSIC. THE 2023 PERSON OF THE YEAR (POTY) EVENT WAS HELD ON NOVEMBER 15, 2023 AT SEVILLE, SPAIN. 0 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 1 1 1 0 1 46 0 1 47 1 0 0 0 0 1 1 0 0 0 X 19 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 CA X JAVIER AGUIRRE 3055760036 3470 NW 82ND AVENUE SUITE 600 DORAL FL 331221028 ALOYSIO REIS SECRETARY 1.00 0.00 X X 0 0 0 EDUARDO HUTT CHAIRMAN OF THE BOARD 1.00 0.00 X X 0 0 0 ALEXANDRA LIOUTIKOFF TRUSTEE 1.00 0.00 X 0 0 0 CARLA ESTRADA TRUSTEE (TO 3/20/23) 1.00 0.00 X 0 0 0 CARLOS ALVAREZ TRUSTEE 1.00 0.00 X 0 0 0 EDUARDO BERGALLO TRUSTEE 1.00 0.00 X 0 0 0 EDUARDO WEISE TREASURER 1.00 0.00 X 0 0 0 ERIKA ENDER TRUSTEE (FROM 03/20/23) 1.00 0.00 X 0 0 0 EVA CEBRIAN VICE CHAIRWOMAN 1.00 0.00 X 0 0 0 HARVEY MASON JR TRUSTEE 1.00 1.00 X 0 0 0 LAURA TESORIERO CHAIR EMERITUS 1.00 0.00 X 0 0 0 LUIS ALVAREZ FIOL TRUSTEE 1.00 0.00 X 0 0 0 LUIS BALAGUER TRUSTEE (TO 03/20/23) 1.00 0.00 X 0 0 0 MANUEL TEJADA TRUSTEE 1.00 0.00 X 0 0 0 MAUREEN REIDY TRUSTEE (FROM 03/20/23) 1.00 0.00 X 0 0 0 PATRICIA CANTU TRUSTEE 1.00 0.00 X 0 0 0 RAFA SARDINA TRUSTEE 1.00 0.00 X 0 0 0 RICO LOVE TRUSTEE 1.00 0.00 X 0 0 0 TAMMY HURT TRUSTEE 1.00 0.00 X 0 0 0 MANUEL ABUD CEO 40.00 0.00 X 644189 0 56490 LUIS DOUSDEBES CHIEF AWARDS, MEMBERSHIP, & PRESERVATION OFFICER 40.00 0.00 X 545547 0 51852 JAVIER AGUIRRE CHIEF FINANCIAL OFFICER 40.00 0.00 X 489427 0 55860 GABRIEL ABAROA PRESIDENT EMERITUS 40.00 0.00 X 296933 0 55894 ENRIQUE PEREZ HEAD OF PARTNERSHIPS & CLIENT SOL. 40.00 0.00 X 360275 0 48670 AYLEEN FIGUERAS SENIOR VICE PRESIDENT, PRODUCTION 40.00 0.00 X 254548 0 47732 AIDA SCORZA SENIOR VICE PRESIDENT, AWARDS 40.00 0.00 X 422710 0 43451 IVELIESSE MALAVE VP OF COMMUNICATIONS, ARTIST & INDUSTRY 40.00 0.00 X 277035 0 33670 LAURA DERGAL HEAD OF MARKETING & CONTENT DEV. 40.00 0.00 X 249665 0 52166 ADRIANO HAUBENTHAL SR. DIRECTOR, PRODUCT MANAGEMENT 40.00 0.00 X 169358 0 57660 MELANIE GALARCE SR. DIRECTOR, PARTNERSHIPS 40.00 0.00 X 148768 0 49463 DAVINA ARYEH FORMER KEY EMPLOYEE 0.00 0.00 X 299838 0 0 4158293 0 552908 13 1 1 0 THE JOE LEWIS COMPANY INC 12400 WILSHIRE BLVD STE 1275 LOS ANGELES CA 90025 EVENT PRODUCTION 473663 GSD TRIBE LLC 1111 CRANDON BLVD B805 KEY BISCAYNE FL 33149 SALES REPRESENTATIVE 299838 FINE AND DANDY FILMS S DE RL DE CV CHIHUAHUA 220 CIUDAD DE MEXICO MEXICO MX EVENT PRODUCTION 282444 GREENBERG TRAURIG LLP 3333 PIEDMONT ROAD NE 2500 TERMIN ATLANTA GA 30305 LEGAL SERVICES 273683 BLUEMEN CORP 1001 91 STREET APT 407 BAY HARBOR ISLANDS FL 33154 EVENT PRODUCTION 241961 12 199333 3995334 4194667 TELECAST REVENUE 711320 17902793 17902793 SPONSORSHIP INCOME 711320 14150404 14150404 PROJECT INCOME (POTY) 711320 2890325 2890325 FOREIGN SYNDICATION INCOME 900099 763108 763108 STREAMING ROYALTIES 900099 484750 484750 208492 208492 36399872 854968 854968 484690 484690 13309950 13939822 -629872 -629872 -629872 41304325 3861925 0 33247733 1742050 3858455 3013631 195066 643415 361986 389544 262749 126678 2352348 232080 884152 1244050 874992 737587 54123 302796 EVENT PRODUCTION COSTS 15837308 BRAND SUPPORT 3800000 MEMBERSHIP OUTREACH 157788 POSTAGE & DELIVERY 121730 252816 37445344 5427711 948633 1933908 7069858 2002886 1940981 762097 668110 1030828 93987 30334738 36279376 79655 669151 40809726 47001986 3846911 3309644 138510 197782 1843840 2808895 5829261 6316321 X 34980465 40685665 34980465 40685665 40809726 47001986 3858981 1846219 0 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 30334738 4000000 2071315 126678 36279376 32293980 -1834504 124738 30334738 28501678 3000000 890675 98373 32293980 26131652 2510247 140221 28501678 21262046 3000000 1975139 105533 26131652 1.00000 0 0 485100 417843 67257 276997 250267 26730 93987 INTERCOMPANY ACCOUNT PAYABLE TO NARAS 922306 ROYALTY PAYABLE TO NARAS 1349683 INTERCOMPANY PAYABLE TO GRAMMY MUSEUM 206 INTERCOMPANY PAYABLE TO MUSICARES 803 RIGHT OF USE LONG TERM LIABILITY 160093 CURRENT PORTION OF OPERATING LEASE LIABILITIES 375804 2808895 X 43150544 1846219 1846219 41304325 0 41304325 37445344 0 37445344 0 37445344 PART X, LINE 2: LARAS ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) 740, INCOME TAXES. FASB ASC 740 PRESCRIBES A COMPREHENSIVE MODEL FOR HOW A COMPANY SHOULD RECOGNIZE, MEASURE, PRESENT, AND DISCLOSE IN ITS FINANCIAL STATEMENTS UNCERTAIN TAX POSITIONS THAT THE COMPANY HAS TAKEN, OR EXPECTS TO TAKE, ON A TAX RETURN. DURING THE YEARS ENDED JANUARY 31, 2024 AND 2023, LARAS DID NOT RECORD ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. 1 UNIVERSITY OF SOUTHERN CALIFORNIA 3551 TROUSDALE PKWY LOS ANGELES CA 90089 951642394 501(C)(3) 15000 0 SUPPORT USC FELLOWSHIP FUND LATIN GRAMMY CULTURAL FOUNDATION 3470 NW 82ND AVE SUITE 600 MIAMI FL 33122 464770436 501(C)(3) 1527050 0 GENERAL SUPPORT FOR OPERATIVE EXPENSES GRAMMY MUSEUM FOUNDATION 888 S FIGUEROA STREET SUITE 600 LOS ANGELES CA 90017 261447714 501(C)(3) 200000 0 GENERAL SUPPORT FOR THE MUSEUM FOUNDATION PROGRAMS 3 0 PART I, LINE 2: THE LATIN ACADEMY OF RECORDING ARTS & SCIENCES REQUESTS AND ACCEPTS LETTERS FROM THE ORGANIZATIONS DESCRIBING THE ACTIVITIES FOR WHICH FUNDS WERE/WOULD BE USED. IN ADDITION, THE LATIN RECORDING ACADEMY WILL MAINTAIN ONGOING COMMUNICATION WITH THE ORGANIZATION AS TO THEIR PROGRESS IN SUPPORTING AND PROMOTING LATIN MUSIC GROWTH AND ACCOMPLISHMENTS. X 1 0 X X X X X 0 0 0 MANUEL ABUD CEO 635867 0 0 0 8322 0 28158 0 28332 0 700679 0 0 0 LUIS DOUSDEBES CHIEF AWARDS, MEMBERSHIP, & PRESERVA 535083 0 2400 0 8064 0 26000 0 25852 0 597399 0 0 0 JAVIER AGUIRRE CHIEF FINANCIAL OFFICER 477169 0 2400 0 9858 0 27258 0 28602 0 545287 0 0 0 AIDA SCORZA SENIOR VICE PRESIDENT, AWARDS 404686 0 2400 0 15624 0 30000 0 13451 0 466161 0 0 0 ENRIQUE PEREZ HEAD OF PARTNERSHIPS & CLIENT SOL. 354311 0 2400 0 3564 0 12873 0 35797 0 408945 0 0 0 GABRIEL ABAROA PRESIDENT EMERITUS 278369 0 0 0 18564 0 24000 0 31894 0 352827 0 0 0 IVELIESSE MALAVE VP OF COMMUNICATIONS, ARTIST & INDUS 270393 0 2400 0 4242 0 30000 0 3670 0 310705 0 0 0 AYLEEN FIGUERAS SENIOR VICE PRESIDENT, PRODUCTION 247921 0 2400 0 4227 0 25544 0 22188 0 302280 0 0 0 LAURA DERGAL HEAD OF MARKETING & CONTENT DEV. 243054 0 2400 0 4211 0 30000 0 22166 0 301831 0 0 0 DAVINA ARYEH FORMER KEY EMPLOYEE 299838 0 0 0 0 0 0 0 0 0 299838 0 0 0 ADRIANO HAUBENTHAL SR. DIRECTOR, PRODUCT MANAGEMENT 167798 0 1200 0 360 0 22458 0 35202 0 227018 0 0 0 MELANIE GALARCE SR. DIRECTOR, PARTNERSHIPS 129825 0 18700 0 243 0 14000 0 35463 0 198231 0 0 0 PART I, LINE 1A THE ORGANIZATION HAS A WRITTEN POLICY REGARDING PAYMENT OF FIRST CLASS AIR TRAVEL. THE ORGANIZATION'S TRAVEL POLICY ESTABLISHES THAT FOR AIR TRAVEL EXCEEDING 4 HOURS IN LENGHT, PURCHASE OF BUSINESS CLASS TICKETS IS ALLOWED FOR C-OFFICERS, VICE PRESIDENTS AND TRUSTEES. WHEN AVAILABLE, BARTER IS THE PREFERRED METHOD OF AIR TRAVEL. IF BUSINESS CLASS TICKETS ARE NOT AVAILABLE, FIRST CLASS TICKETS CAN BE PURCHASED. THE ORGANIZATION HAS DETERMINED THAT FIRST CLASS TRAVEL MEETS THE BUSINESS REQUIREMENT STANDARD FOR NOT TREATING THE BENEFIT AS COMPENSATORY ON FORMS W-2/1099. TERRY LICKONA FORMER TRUSTEE 80000 SEE PART V 0 DAVINA ARYEH FORMER KEY EMPLOYEE 299837 SEE PART V 0 SCHEDULE L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (A) NAME OF PERSON: TERRY LICKONA(D) DESCRIPTION OF TRANSACTION: LARAS HIRED TERRY LICKONA TO CO-PRODUCE THE 24TH LATIN GRAMMY AWARDS. SCHEDULE L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (A) NAME OF PERSON: DAVINA ARYEH(D) DESCRIPTION OF TRANSACTION: LARAS HIRED DAVINA, A FORMER KEY EMPLOYEE, TO HELP AND ASSIST IN DEVELOPING AND SECURING POTENTIAL SPONSORSHIPS AND/OR OTHER BUSINESS OPPORTUNITIES. FORM 990, PART VI, SECTION A, LINE 1A ALL MEMBERS OF THE BOARD HAVE THE SAME VOTING RIGHTS WITH THE EXCEPTION OF ONE TRUSTEE AD HONOREM. THE BOARD OF TRUSTEES HAS AUTHORIZED THE EXECUTIVE COMMITTEE TO ACT ON ITS BEHALF. ALL THE ACTIONS TAKEN BY THE EXECUTIVE COMMITTEE ARE RATIFIED BY THE BOARD DURING THE NEXT ANNUAL MEETING. THE EXECUTIVE COMMITTEE IS FORMED BY: CHAIRMAN OF THE BOARD, VICE CHAIRMAN, TREASURER, SECRETARY, CEO OF THE RECORDING ACADEMY AND CFO OF THE LATIN RECORDING ACADEMY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE CEO, AND AFTER HIS APPROVAL IT IS DISTRIBUTED TO THE MEMBERS OF THE FINANCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C THE LATIN RECORDING ACADEMY HAS A CONFLICT OF INTEREST POLICY THAT WAS APPROVED BY THE BOARD OF TRUSTEES DURING THE 2024 ANNUAL BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 15A THE CEO'S CONTRACT IS APPROVED BY THE EXECUTIVE COMMITTEE AND THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE IS COMPRISED OF TRUSTEES AND OFFICERS, ALL OF WHOM HAVE SIGNIFICANT EXPERIENCE SERVING NON-PROFIT ORGANIZATIONS. THE EXECUTIVE COMMITTEE USES ITS KNOWLEDGE FROM EXPERIENCE, AND IN ADDITION, A COMPARISON OF COMPENSATION DATA FROM COMPARABLE ORGANIZATIONS IS USED. THE SALARY OF EACH EMPLOYEE IS REVIEWED AND APPROVED BY THE CEO AND ANY ANNUAL INCREASES FOR THE STAFF ARE DISCUSSED AND APPROVED BY THE FINANCE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 LARAS DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. THE LATIN GRAMMY CULTURAL FOUNDATION 3470 NW 82ND AVENUE SUITE 600 MIAMI FL 33122 464770436 SCHOLARSHIPS, RESEARCH & PRESERVATION GRANTS AND EDUCATIONAL EVENTS DE 501(C)(3) 11 THE LATIN ACADEMY OF RECORDING ARTS & SCIENCES INC 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 THE LATIN GRAMMY CULTURAL FOUNDATION B 1527050 CASH VALUE