2023-11-14T12:54:22-08:00 2022-12-31 752593210 Sutton Frost Cary LLP 600 Six Flags Dr Suite 600 Arlington TX 76011 990 2022-01-01 954196238 PROSPANICA PROS 8662762140 11700 PRESTON RD STE 660 354 DALLAS TX 75230 THOMAS SAVINO CEO 2023-11-14 true THOMAS SAVINO 999009999 true Carroll Elizabeth Arnott P01965628 8176498083 2 AAL1 IAL1 FAL1 2022 2023-04-26 12:10:37Z X THOMAS SAVINO 11700 PRESTON RD STE 660 354 DALLAS TX 75230 3018756 false X www.prospanica.org X 1988 TX THE ORGANIZATION'S MISSION IS TO EMPOWER AND ENABLE HISPANIC PROFESSIONALS TO ACHIEVE THEIR FULL EDUCATIONAL, ECONOMIC, AND SOCIAL POTENTIAL. 8 8 12 250 86267 136137 478538 108958 2333614 153106 206465 122 139 398323 3018756 40000 64860 0 244551 990728 0 2750 375832 1733864 660383 2789452 -262060 229304 7010491 6699423 696100 982820 6314391 5716603 X THE ORGANIZATION'S MISSION IS TO EMPOWER AND ENABLE HISPANIC PROFESSIONALS TO ACHIEVE THEIR FULL EDUCATIONAL, ECONOMIC, AND SOCIAL POTENTIAL. false false 1989074 PROSPANICA CONDUCTS A LEADERSHIP SUMMIT TO PROVIDE PROFESSIONAL DEVELOPMENT AND EDUCATIONAL TRAINING TO CHAPTER BOARD MEMBERS TO EFFECTIVELY BUILD AND STRENGTHEN LEADERSHIP SKILLS TO FURTHER THE MISSION OF PROMOTING THE ADVANCEMENT OF HISPANIC STUDENTS AND PROFESSIONALS. 64860 64860 PROSPANICA'S SCHOLARSHIP PROGRAM PROVIDES FINANCIAL SUPPORT FOR PROFESSIONALS AND STUDENTS SEEKING TO OBTAIN AN UNDERGRADUATE, MBA OR EQUIVALENT DEGREE. 683725 CHAPTERS CONDUCTED EVENTS THAT OFFERED EDUCATIONAL ADVANCEMENT THROUGH PROFESSIONAL DEVELOPMENT AND EDUCATIONAL PROGRAMS. LOCAL CHAPTER EVENTS HELP DRIVE MEMBERSHIP AS WELL AS PROMOTE EDUCATIONAL LEADERSHIP, CAREER AND PROFESSIONAL DEVELOPMENT OF HISPANIC BUSINESS PROFESSIONALS, MBA ALUMNI, STUDENTS AND POTENTIAL MBA CANDIDATES. 1563622 2053934 true true false false false false false false false false true false false false false true true false false false false false false false false false false false true true false false false false false false false false false false false false false false false false false true 27 0 true 12 true true true false false false false false false 0 false false false false false false false X 8 8 false false false false true true true true true false false true true true true true true true true false CA X X CLAUDIA LIMA 8662762140 11700 PRESTON RD STE 660 354 DALLAS TX 75230 THOMAS SAVINO CEO 40.00 0.00 X X 340000 0 14095 RAQUEL SANTIAGO-MARTINEZ Treasurer 2.00 0.00 X X 0 0 0 JUDITH GARCIA GALIANA Secretary 2.00 0.00 X X 0 0 0 VAL RUPP Director 2.00 0.00 X 0 0 0 JIM HUERTA VICE CHAIR 2.00 0.00 X X 0 0 0 JANET SIMMS Chairman 2.00 0.00 X X 0 0 0 BILL SCHWARTZ Director 2.00 0.00 X 0 0 0 ELYSE ESTRADA Director 2.00 0.00 X 0 0 0 ERIKA CRAMER Director 2.00 0.00 X 0 0 0 340000 14095 1 false true false RKR SPONSOR SOLUTIONS 3330 COBB PARKWAY STE 324 393 ACWORTH GA 30101 SALES CONSULTANT 165576 COGENT GLOBAL SOLUTIONS INC 1550 LARMIER STREET STE 1082 DENVER CO 80202 EVENT CONSULTANT 105176 2 68614 409924 1236 478538 ADVERTISING 86267 86267 ANNUAL CONFERENCE 541900 1266144 1266144 CAREER CENTER 541900 297478 297478 NATIONAL & CHAPTER EVENTS 541900 683725 683725 2333614 88908 88908 0 139 139 0 117557 117557 117557 117557 0 0 0 0 3018756 2247347 86267 206604 X 0 64860 64860 0 0 354095 238456 115639 0 464422 312753 151669 21101 12019 9082 51236 45320 5916 99874 72070 27804 0 12370 12370 32537 32537 0 0 0 1017210 838099 179111 0 0 2427 2000 427 0 134594 94216 37686 2692 203556 140348 63208 0 148838 138444 10394 0 0 2893 2025 810 58 15564 655 14909 EQUIPMENT & FURNITURE 103931 78810 25121 MISCELLANEOUS 33366 1823 31543 SUPPLIES 9841 9741 100 TELECOMMUNICATIONS 7083 7083 9654 2295 7359 2789452 2053934 732768 2750 2728338 3075216 0 0 195897 169267 0 0 0 0 81312 71999 42723 38000 5481 4723 3988803 3334663 0 0 0 10660 43555 7010491 6699423 359092 684654 337008 298166 696100 982820 X 6299863 5665518 14528 51085 6314391 5716603 7010491 6699423 229304 -827092 X false true X true false X 218470 220598 304689 358233 478538 1580528 1719981 1547955 1014388 1790247 2247347 8319918 0 0 0 1938451 1768553 1319077 2148480 2725885 9900446 0 28847 11196 6703 988 47734 28847 11196 6703 988 47734 9852712 199990 157045 165135 126484 89047 737701 14352 14723 5985 54725 86267 176052 214342 171768 171120 181209 175314 913753 0 0 2152793 1940321 1490197 2329689 2901199 10814199 0.91110 0.39860 0.08450 0.46630 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 42723 38000 4723 4723 X 2192314 -827092 650 -826442 3018756 3018756 2790102 650 650 2789452 2789452 Part X : FIN48 Footnote PROSPANICA is exempt from federal income taxes under section 501(c)(3) of the Internal Revenue Code (Code). Therefore, the Foundation IS subject to federal income tax only on unrelated business income. THE FOUNDATION is NOT a private foundation as defined in the Code.GAAP requires the evaluation of tax positions taken in the course of preparing the FOUNDATIONs tax returns and recognition of a tax liability (or asset) if the FOUNDATION has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. Management has analyzed the tax positions taken by the Organization, and has concluded that as of December 31, 2022, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. true 0 0 SCHOLARSHIPS TO BUS UNDER/POST GRAD 15 64860 Grantmaker's Description of How Grants are Used The Scholarship process is managed by a third-party vendor, ISTS. Funds are distributed and managed by ISTS and issued to the University that the student is attending. X X true X X false false false false false false false false false THOMAS SAVINO CEO 273000 49000 18000 13674 421 354095 Part I, Line 1a: Relevant information in regards to selections on 1a. THE ORGANIZATION FOLLOWED THE CEO EMPLOYMENT AGREEMENT ADN RECEIPTS WERE SUBMITTED FOR REIMBURSEMENT. Form 990, Part III, Line 4d OTHER PROGRAM SERVICES 4: NATIONAL CONFERENCE'S PURPOSE IS TO INCREASE EDUCATIONAL, LEADERSHIP, CAREER AND PROFESSIONAL DEVELOPMENT OF HISPANIC PROFESSIONALS, MBA ALUMNI, STUDENTS AND POTENTIAL MBA CANDIDATES. OTHER PROGRAM SERVICES 5: PROSPANICA JOB BOARD, A CAREER MANAGEMENT CENTER, PROVIDES RECRUITMENT SERVICES FOR BOTH CANDIDATES AND EMPLOYERS THROUGH THE PROSPANICA JOB BOARD DATABASE, SOCIAL MEDIA AND SEARCH TECHNOLOGY. Form 990, Part VI, Section A, Line 7a MEMBERS ELECT NATIONAL BOARD OF DIRECTORS. Form 990, Part VI, Section A, Line 7b MEMBERS MUST APPROVE ANY BY-LAW CHANGES. Form 990, Part VI, Section B, Line 11b THE ORGANIZATION REQUIRES THAT THE BOARD REVIEW THE FORM 990 PRIOR TO FILING IT EACH YEAR AND HAS A DETAILED PROCESS AND PROCEDURES FOR THIS RESPONSIBILITY. THE COMPLETED FORM WILL BE PROVIDED TO THE AUDIT/GOVERNANCE COMMITTEE OF THE BOARD AND IT WILL BE REVIEWED BY ALL COMMITTEE MEMBERS. NEXT, ALL MEMBERS OF THE BOARD WILL RECEIVE THE FORM 990 FOR THEIR REVIEW. A BOARD/COMMITTEE RESOLUTION IS REQUIRED FOR THE FORM 990 FILING. Form 990, Part VI, Section B, Line 12c THE ORGANIZATION HAS A WRITTEN CONFLICT OF INTEREST POLICY. ANNUALLY, THE EMPLOYEES, BOARD OF DIRECTORS OF THE ORGANIZATION AND EACH CHAPTER MUST SIGN A WRITTEN STATEMENT OF COMPLIANCE AND DISCLOSURE. THE ORGANIZATION MONITORS THE COMPLIANCE AND ENFORCEMENT WITH THE POLICY BY REGULARLY REVIEWING THE POLICY AND UPDATING IT AS NECESSARY, COMMUNICATING ANY CHANGES TO EMPLOYEES AND BOARD OF DIRECTORS. THE ORGANIZATION HAS A HOTLINE VIA PHONE AND WEBSITE WHERE COMPLAINTS ARE TAKEN BY AN INDEPENDENT THIRD PARTY AND INVESTIGATED BY AN INDEPENDENT BOARD OF DIRECTORS' COMMITTEE. Form 990, Part VI, Section B, Line 15a THE ORGANIZATION HAS A POLICY AND PROCEDURES FOR COMPENSATION AND APPROVAL OF THE MANAGEMENT SERVICES PROVIDED, WHICH INCLUDES APPROVAL BY THE BOARD OF DIRECTORS AND INCLUDES COMPARING COMPENSATION DATA FROM SIMILAR NON-PROFIT ORGANIZATIONS AND CONTEMPORANEOUS SUBSTANTIATION OF THE PROCESS. Form 990, Part VI, Section C, Line 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE ON THEIR WEBSITE. THE ANNUAL REPORT IS ALSO AVAILABLE AND FINANCIAL STATEMENTS ARE PROVIDED UPON REQUEST. MERGER In 2020 the NBOD voted to merge the C6 into the C3 as one entity. Effective 2022 tax year National Society of Hispanic MBAs (NSHMBA), Texas 501(c)(6) nonprofit was merged into NSHMBA Foundation, California 501(c)(3) nonprofit.