2022-10-08T10:27:42-07:00 2021-12-31 752593210 Sutton Frost Cary LLP 600 Six Flags Dr Suite 600 Arlington TX 76011 990 2021-01-01 954196238 NSHMBA FOUNDATION DBA PROSPANICA FOUNDATION NSHM 8662762140 11700 PRESTON RD STE 660 354 DALLAS TX 75230 THOMAS SAVINO CEO 2022-10-08 true THOMAS SAVINO 999009999 Carroll Elizabeth Arnott P01965628 8176498083 2 AAL1 IAL1 FAL1 2021 2022-09-23 18:48:47Z X THOMAS SAVINO 11700 PRESTON RD STE 660 354 DALLAS TX 75230 4236212 false X www.prospanica.org X 1988 TX THE ORGANIZATION'S MISSION IS TO PROMOTE AND SUPPORT EDUCATIONAL OPPORTUNITIES AND ADVANCEMENT FOR HISPANIC STUDENTS AND PROFESSIONALS INCLUDING THE MANAGEMENT OF THE PROSPANICA SCHOLARSHIP PROGRAM, EDUCATIONAL AND PROFESSIONAL DEVELOPMENT PROGRAMS. 4 3 0 2 0 78269 136137 19585 108958 219543 153106 99 122 317496 398323 1227556 40000 0 244551 0 0 220292 375832 1447848 660383 -1130352 -262060 5525700 7010491 7794 696100 5517906 6314391 THE ORGANIZATION'S MISSION IS TO PROMOTE AND SUPPORT EDUCATIONAL OPPORTUNITIES AND ADVANCEMENT FOR HISPANIC STUDENTS AND PROFESSIONALS INCLUDING THE MANAGEMENT OF THE PROSPANICA SCHOLARSHIP PROGRAM, EDUCATIONAL AND PROFESSIONAL DEVELOPMENT PROGRAMS. false false 132165 THE FOUNDATION 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. 40000 40000 THE FOUNDATION'S SCHOLARSHIP PROGRAM PROVIDES FINANCIAL SUPPORT FOR PROFESSIONALS AND STUDENTS SEEKING TO OBTAIN AN UNDERGRADUATE, MBA OR EQUIVALENT DEGREE. 15664 108958 CHAPTERS CONDUCTED EVENTS THROUGH THE FOUNDATION THAT OFFERED EDUCATIONAL ADVANCEMENT THROUGH PROFESSIONAL DEVELOPMENT AND EDUCATIONAL PROGRAMS. 187829 true true false false false false false false false false true false false false false true false true 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 true false false false true 1 0 true 0 false false false false false false false 0 false false false false false false false X 4 3 false true false false false false false true true false false true true true true true true true true false CA X X THOMAS SAVINO 8662762140 11700 PRESTON RD STE 660 354 DALLAS TX 75230 THOMAS SAVINO CEO 0.00 40.00 X X 0 249916 13233 MONICA PUENTE VP-FINANCE 0.00 40.00 X 0 102542 9096 RAQUEL SANTIAGO-MARTINEZ Director 2.00 2.00 X 0 0 0 VAL RUPP Director 2.00 2.00 X 0 0 0 JANET SIMMS Chairman 2.00 2.00 X X 0 0 0 352458 22329 0 false true false 0 136137 136137 CAREER CENTER 900099 29932 29932 MEMBERSHIP FEES 900099 662 662 NATIONAL EVENTS 900099 78364 78364 108958 121862 121862 0 122 122 0 3869133 3837889 31244 31244 31244 0 0 0 0 398323 108958 153228 X 0 40000 40000 0 0 0 0 221054 77368 143686 4058 1420 2638 9467 3313 6154 9972 3490 6482 144910 144910 7817 7817 1960 1960 0 0 26755 26755 96845 31959 64886 0 2959 1240 1719 9092 4037 5055 0 22432 22432 30183 30183 0 23947 23947 0 0 386 386 0 MISCELLANEOUS 5256 5256 BANK & MERCHANT FEES 2582 2582 Postage and Shipping 669 669 FINES 39 39 0 660383 187829 472554 0 786393 2728338 0 0 10754 195897 0 0 0 0 28660 81312 40588 35107 5481 4699393 3988803 0 0 0 500 10660 5525700 7010491 1723 359092 6071 337008 7794 696100 X 5503378 6299863 14528 14528 5517906 6314391 5525700 7010491 X -262060 410009 648536 X true X false true false X 143880 95138 128188 78269 136137 581612 0 0 143880 95138 128188 78269 136137 581612 161610 420002 138928 185638 152494 160333 121984 759377 0 0 1340989 287502 0.31320 0.34470 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 40588 35107 5481 5481 X 1430113 410009 648536 1058545 371568 26755 26755 398323 633628 633628 26755 26755 660383 Part X : FIN48 Footnote NSHMBA FOUNDATION 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, 2021, 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. Part XI, Line 2d: Other revenue amounts included in F/S but not included on form 990 TRANSFER OF ASSETS FROM ASSOCIATION $648536 true 0 0 SCHOLARSHIPS TO MBA STUDENTS 18 40000 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. false false false false false false false false false THOMAS SAVINO CEO 249916 13233 263149 Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company THE ORGANIZATION CONTRACTED THE NATIONAL SOCIETY OF HISPANIC MBAS, A TAX EXEMPT RELATED ENTITY, TO PROVIDE THE OUTSOURCING OF MANAGEMENT AND ADMINISTRATIVE SERVICES. THE BOARD OF DIRECTORS OF THE ORGANIZATION HAS OVERSIGHT OVER MANAGEMENT. SEE SCHEDULE R FOR TRANSACTIONS. Form 990, Part VI, Line 11b: Form 990 Review Process 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, Line 12c: Explanation of Monitoring and Enforcement of Conflicts 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, Line 15a: Compensation Review & Approval Process - CEO, Top Management 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, Line 19: Other Organization Documents Publicly Available 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. Other Changes In Net Assets Or Fund Balances - Other Increases CONTRIBUTION FROM ACQUISITION = $648536 NATIONAL SOCIETY OF HISPANIC MBAS INC 11700 PRESTON RD STE 660 354 DALLAS TX 75230 270436759 FOSTER HISPANIC LEADERSHIP TX 501(c)(6) N/A false false false false false false false false false false false false false true false false false false false true NATIONAL SOCIETY OF HISPANIC MBAS INC s 648536 book value