2022-09-29T21:49:48-05:00 2022-01-31 861065772 DELOITTE TAX LLP 695 TOWN CENTER DRIVE SUITE 1000 COSTA MESA CA 92626 990 2021-02-01 954501165 THE LATIN ACADEMY OF RECORDING ARTS & SCIENCES INC LATI 3055760036 3470 NW 82ND AVENUE 600 MIAMI FL 331221028 JAVIER AGUIRRE CFO 3055760036 2022-09-28 1 JAVIER AGUIRRE 999009999 JESSICA KARANTONIS P00969387 7144367100 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z THE LATIN RECORDING ACADEMY MANUEL ABUD 3470 NW 82ND AVENUE 600 MIAMI FL 331221028 50508274 0 X WWW.LATINGRAMMY.COM X 1994 DE THE ORGANIZATION'S MISSION IS TO ADVANCE THE ARTS AND SCIENCES OF RECORDING LATIN MUSIC 17 17 28 120 0 0 0 128098 17079275 22656774 1229639 676635 158712 261561 18467626 23723068 1679357 1280000 0 0 5834281 6022543 0 0 0 7670023 12650707 15183661 19953250 3283965 3769818 33416725 39115078 2213284 3927780 31203441 35187298 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 22ND ANNUAL LATIN GRAMMY AWARDS WAS HELD ON NOVEMBER 18, 2021 AT THE MGM IN LAS VEGAS. THIS WAS TELECAST BY UNIVISION. IT WAS AGAIN A LIVE EVENT SINCE PRIOR YEAR EVENT WAS A HYBRID ONE HELD AT THE AMERICAN AIRLINES ARENA IN MIAMI CAUSED BY COVID-19. THE LATIN GRAMMY PREMIER EVENT: AN ANNUAL EVENT TO RECOGNIZE THE EXCELLENCE IN MUSIC AND ITS CREATORS. THE 22ND ANNUAL LATIN GRAMMY PREMIER EVENT WAS HELD ON NOVEMBER 18, 2021 BEFORE THE TELECAST OF THE LATIN GRAMMY AWARDS EVENT. IT WAS AGAIN A LIVE EVENT AFTER LAST YEAR'S DIGITAL EVENT DUE TO COVID-19. THE PERSON OF THE YEAR EVENT: AN ANNUAL EVENT TO HONOR AN ARTIST CAREER FOR HIS/HER EXCELLENCE IN LATIN MUSIC. THE 2021 PERSON OF THE YEAR (POTY) EVENT WAS HELD ON NOVEMBER 17, 2021 AT THE MANDALAY BAY IN LAS VEGAS. 0 0 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 57 0 1 28 1 0 0 0 0 1 1 0 1 0 X 17 17 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 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 TRUSTEE 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 CHAIRMAN EMERITUS 1.00 0.00 X 0 0 0 LUIS ALVAREZ FIOL TRUSTEE 1.00 0.00 X 0 0 0 LUIS BALAGUER TRUSTEE 1.00 0.00 X 0 0 0 MANUEL TEJADA TRUSTEE 1.00 0.00 X 0 0 0 PATY 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 GABRIEL ABAROA PRESIDENT EMERITUS 40.00 5.00 X 1436737 0 43849 MANUEL ABUD CEO 40.00 0.00 X 493264 0 44249 LUIS DOUSDEBES CAMPO 40.00 0.00 X 485314 0 34779 JAVIER AGUIRRE CFO 40.00 0.00 X 433267 0 37530 AIDA SCORZA VP AWARDS 40.00 0.00 X 376727 0 20396 DAVINA ARYEH CMO 40.00 0.00 X 322768 0 39055 IVELIESSE MALAVE VP OF COMMUNICATIONS 40.00 0.00 X 244331 0 11366 LAURA DERGAL VP OF MARKETING AND CONTENT 40.00 0.00 X 207691 0 41726 ADRIANO HAUBENTHAL DIR. DIGITAL STRATEGY 40.00 0.00 X 153505 0 38146 LIVYS CERNA SR. DIR. ARTIST/INDUSTRY RELATIONS 40.00 0.00 X 118053 0 31181 MELANIE GALARCE DIR. MARKETING/BUS. DEV 40.00 0.00 X 113430 0 38348 DIANA ALVARADO DIRECTOR AWARDS 40.00 0.00 X 103063 0 11054 4488150 0 391679 12 0 1 0 GVF PRODUCTIONS INC 14803 CRANBROOK AVENUE HAWTHORNE CA 90250 EVENT PRODUCTION 1551258 UNIVISION COMMUNICATIONS INC PO BOX 189 TEANECK NJ 07666 EVENT PRODUCTION 1540114 MGM RESORTS INTERNATIONAL 3600 S LAS VEGAS BLVD LAS VEGAS NV 89109 HOTEL ROOMS AND MISCELLANEOUS 857838 NATIONAL ACADEMY OF RECORDING ARTS & SCI 3030 OLYMPIC BLVD SANTA MONICA CA 90404 ADMINISTRATIVE SERVICES 425830 HAKKASAN LV LLC 6385 S RAINBOW BLVD SUITE 800 LAS VEGAS NV 89118 AFTER PARTY VENUE 362632 12 128098 128098 TELECAST REVENUE 900099 15805276 15805276 SPONSORSHIP INCOME 900099 3624692 3624692 PROJECT INCOME 900099 2166300 2166300 FOREIGN SYNDICATION INCOME 900099 893438 893438 167068 167068 22656774 565148 565148 261561 261561 26896693 26785206 111487 111487 111487 23723068 3226806 0 20368164 1280000 4000101 1198382 106325 476366 241369 139323 209617 98448 1275100 285951 746087 612867 704580 726807 71036 217214 EVENT PRODUCTION COSTS 6788675 CATERING SERVICES 510023 TAXES & LICENSES 105865 POSTAGE & DELIVERY 94806 64308 19953250 2311741 2360290 9134575 0 171751 2383632 2094723 1838388 731831 561377 241490 170454 19367104 32293980 95341 68334 33416725 39115078 815898 2696857 140297 140496 1257089 1090427 2213284 3927780 X 31203441 35187298 31203441 35187298 33416725 39115078 3769818 214039 0 X 0 1 X 1 0 0 1 0 343415 224733 118682 246731 239674 7057 141685 96970 44715 170454 INTERCOMPANY ACCOUNT PAYABLE TO NARAS 375951 INTERCOMPANY ACCOUNT PAYABLE TO LGCF 9896 ROYALTY PAYABLE TO NARAS 704580 1090427 X 23937107 214039 214039 23723068 0 23723068 19953250 0 19953250 0 19953250 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, 2022 AND 2021, LARAS DID NOT RECORD ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. 1 LATIN GRAMMY CULTURAL FOUNDATION 3470 82ND AVENUE SUITE 600 DORAL FL 33122 464770436 501(C)(3) 1000000 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'S PROGRAMS AFRO LATIN JAZZ ALLIANCE 646 MALCOLM X BOULEVARD SUITE 205 NEW YORK NY 10037 453665976 501(C)(3) 25000 0 GENERAL SUPPORT FOR AFRO LATIN JAZZ PROGRAMS UNIVERSITY OF SOUTHERN CALIFORNIA 1150 SOUTH OLIVE STREET 25TH FLOOR LOS ANGELES CA 90015 951642394 501(C)(3) 45000 0 GENERAL SUPPORT FOR RESEARCH 4 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 0 0 X X X X X 0 0 0 GABRIEL ABAROA PRESIDENT EMERITUS 661173 0 757000 0 18564 0 8538 0 35311 0 1480586 0 0 0 MANUEL ABUD CEO 486442 0 0 0 6822 0 8938 0 35311 0 537513 0 0 0 LUIS DOUSDEBES CAMPO 476092 0 2400 0 6822 0 9250 0 25529 0 520093 0 0 0 JAVIER AGUIRRE CFO 424303 0 2400 0 6564 0 9250 0 28280 0 470797 0 0 0 AIDA SCORZA VP AWARDS 359658 0 2400 0 14669 0 7101 0 13295 0 397123 0 0 0 DAVINA ARYEH CMO 316828 0 2400 0 3540 0 5323 0 33732 0 361823 0 0 0 IVELIESSE MALAVE VP OF COMMUNICATIONS 237785 0 2400 0 4146 0 7749 0 3617 0 255697 0 0 0 LAURA DERGAL VP OF MARKETING AND CONTENT 204281 0 2400 0 1010 0 6807 0 34919 0 249417 0 0 0 ADRIANO HAUBENTHAL DIR. DIGITAL STRATEGY 151989 0 1200 0 316 0 3591 0 34555 0 191651 0 0 0 MELANIE GALARCE DIR. MARKETING/BUS. DEV 112033 0 1200 0 197 0 3680 0 34668 0 151778 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 LENGTH, 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. IN ADDITION, THE ORGANIZATION WILL CONSIDER THE PURCHASE OF A BUSINESS CLASS (OR FIRST CLASS, IF BUSINESS CLASS IS NOT AVAILABLE) TICKET FOR THE PRODUCERS OF THEIR PROGRAM SERVICES TO ATTEND PRODUCTION MEETINGS AND THE ACTUAL EVENT AND FOR PERFORMERS TO ATTEND EVENTS SPONSORED BY THE ORGANIZATION. 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 80693 LARAS HIRED 0 SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (A) NAME OF PERSON: TERRY LICKONA(D) DESCRIPTION OF TRANSACTION: LARAS HIRED TERRY LICKONA TO CO-PRODUCETHE 22ND LATIN GRAMMY AWARDS. 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 CEO 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 2022 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. THE LAST DATE FOR THIS PROCESS OF REVIEW WAS TAKEN PLACE ON FEBRUARY 2022. 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 RELATED DE 501(C)(3) LINE 11 THE LATIN ACADEMY OF RECORDING ARTS & SCIENCES INC 1 0 1 0 0 1 0 0 0 0 0 0 0 0 1 1 0 1 0 0 THE LATIN GRAMMY CULTURAL FOUNDATION B 1000000 CASH