LATIN ACADEMY OF RECORDING ARTS & SCIENCES INC: Form 990, tax year 2019
View the entire original 990 at ProPublica ↗
- Organization
- LATIN ACADEMY OF RECORDING ARTS & SCIENCES INC (EIN 95-4501165)
- Tax period
- 2019-02-01 to 2020-01-31
- Filed
- 2020-12-15
- IRS object ID
- 202043509349301864
- Schema version
- 2019v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2020-12-15T18:36:57-06:00 | ReturnTs |
| Tax Period End | 2020-01-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 861065772 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DELOITTE TAX LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 695 TOWN CENTER DRIVE SUITE 1000 | AddressLine1Txt |
| City | COSTA MESA | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 92626 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2019-02-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 954501165 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE LATIN ACADEMY OF RECORDING | BusinessNameLine1Txt |
| Business Name Line2 | ARTS & SCIENCES INC | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | LATI | BusinessNameControlTxt |
| Phone | 3055760036 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3470 NW 82ND AVENUE NO 600 | AddressLine1Txt |
| City | MIAMI | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 331221028 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JAVIER AGUIRRE | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 3055760036 | PhoneNum |
| Signature | 2020-12-15 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JESSICA KARANTONIS | PreparerPersonNm |
| PTIN | P00969387 | PTIN |
| Phone | 7144367100 | PhoneNum |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 76.87.65.13 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2020-12-15 | IPDt |
| IP Tm | 14:34:32 | IPTm |
| IP Timezone | PS | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | CAB325197066E01C9793426B3F2BA03F046A4D31 | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2019 | TaxYr |
| Build TS | 2021-04-22 16:20:28Z | BuildTS |
Form 990 IRS990
Doing Business As Name DoingBusinessAsName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE LATIN RECORDING ACADEMY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | GABRIEL ABAROA | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3470 NW 82ND AVENUE NO 600 | AddressLine1Txt |
| City | MIAMI | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 331221028 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $28,450,590 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.LATINGRAMMY.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1994 | FormationYr |
| Legal Domicile State | DE | LegalDomicileStateCd |
| Activity Or Mission | THE ORGANIZATION'S MISSION IS TO ADVANCE THE ARTS AND SCIENCES OF RECORDING LATIN MUSIC | ActivityOrMissionDesc |
| Voting Members Governing Body | 17 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 17 | VotingMembersIndependentCnt |
| Total Employee | 25 | TotalEmployeeCnt |
| Total Volunteers | 120 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $138,518 | PYContributionsGrantsAmt |
| CY Contributions Grants | $158,192 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $19,044,216 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $20,702,651 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,276,124 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,096,719 | CYInvestmentIncomeAmt |
| PY Other Revenue | $133,851 | PYOtherRevenueAmt |
| CY Other Revenue | $234,621 | CYOtherRevenueAmt |
| PY Total Revenue | $20,592,709 | PYTotalRevenueAmt |
| CY Total Revenue | $22,192,183 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $1,222,500 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $1,400,000 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $4,028,206 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $4,963,361 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $10,780,813 | PYOtherExpensesAmt |
| CY Other Expenses | $12,737,268 | CYOtherExpensesAmt |
| PY Total Expenses | $16,031,519 | PYTotalExpensesAmt |
| CY Total Expenses | $19,100,629 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $4,561,190 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $3,091,554 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $26,272,373 | TotalAssetsBOYAmt |
| Total Assets EOY | $30,909,301 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $3,603,480 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $4,270,434 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $22,668,893 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $26,638,867 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | 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. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | THE LATIN GRAMMY AWARDS EVENT: AN ANNUAL EVENT HELD TO RECOGNIZE THE EXCELLENCE OF LATIN MUSIC AND ITS CREATORS. THE 20TH ANNUAL LATIN GRAMMY AWARDS WAS HELD ON NOVEMBER 14, 2019 AT THE MGM GRAND GARDEN ARENA IN LAS VEGAS. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | THE LATIN RECORDING ACADEMY PERSON OF THE YEAR EVENT: AN ANNUAL TRIBUTE TO RECOGNIZE THE ACHIEVEMENTS OF A LATIN MUSICIAN. IN 2019, THE LATIN RECORDING ACADEMY HOSTED A GALA DINNER AND CONCERT IN HONOR OF JUANES, HELD AT THE MGM GRAND CONVENTION CENTER ON NOVEMBER 13, 2019. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | THE LATIN RECORDING ACADEMY SPECIAL AWARDS PRESENTATION: CEREMONY TO AWARD LIVING LEGENDS OF LATIN MUSIC WITH A LIFETIME ACHIEVEMENT AND TRUSTEES AWARDS. HELD AT THE WALDORF ASTORIA LAS VEGAS ON NOVEMBER 13, 2019. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | Yes (1) | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | Yes (1) | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 77 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 25 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | Yes (1) | NondeductibleContributionsInd |
| Nondeductible Contri Discl | Yes (1) | NondeductibleContriDisclInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | Yes (1) | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 17 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 17 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (1) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | CA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JAVIER AGUIRRE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 3055760036 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3470 NW 82ND AVENUE SUITE 600 | AddressLine1Txt |
| City | DORAL | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 331221028 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (29 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|---|---|
| GABRIEL ABAROA | |||||||||
| PRESIDENT/CEO | 40.00 | 5.00 | Yes (X) | $1,347,244 | $0 | $43,977 | |||
| LUIS DOUSDEBES | |||||||||
| CFO | 40.00 | 0.00 | Yes (X) | $401,920 | $0 | $34,379 | |||
| AIDA SCORZA | |||||||||
| VP AWARDS | 40.00 | 0.00 | $349,361 | $0 | $25,126 | Yes (X) | |||
| DAVINA ARYEH | |||||||||
| CMO | 40.00 | 0.00 | $301,804 | $0 | $24,224 | Yes (X) | |||
| IVELIESSE MALAVE | |||||||||
| VP OF COMMUNICATIONS | 40.00 | 0.00 | $225,675 | $0 | $13,233 | Yes (X) | |||
| MANUEL ABUD | |||||||||
| COO (FROM 9/19) | 40.00 | 0.00 | $114,881 | $0 | $8,792 | Yes (X) | |||
| ADRIANO HAUBENTHAL | |||||||||
| DIR. DIGITAL STRATEGY | 40.00 | 0.00 | $144,648 | $0 | $34,839 | Yes (X) | |||
| MELANIE GALARCE | |||||||||
| DIR. MARKETING/BUS. DEV | 40.00 | 0.00 | $104,431 | $0 | $34,667 | Yes (X) | |||
| LIVYS CERNA | |||||||||
| SR. DIR. ARTIST/INDUSTRY RELATIONS | 40.00 | 0.00 | $104,183 | $0 | $20,918 | Yes (X) | |||
| ALEXANDRA LIOUTIKOFF | |||||||||
| TRUSTEE | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| ALOYSIO REIS | |||||||||
| SECRETARY | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| CARLA ESTRADA | |||||||||
| TRUSTEE | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| CARLOS ALVAREZ | |||||||||
| TRUSTEE | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| CHRISTINE ALBERT | |||||||||
| TRUSTEE | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| DEBORAH DUGAN | |||||||||
| TRUSTEE (THRU 1/20) | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| EDUARDO BERGALLO | |||||||||
| TRUSTEE | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| EDUARDO HUTT | |||||||||
| CHAIRMAN OF THE BOARD | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| EDUARDO WEISE | |||||||||
| TRUSTEE | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| EVA CEBRIAN | |||||||||
| VICE CHAIRWOMAN | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| HARVEY MASON JR | |||||||||
| TRUSTEE (FROM 6/19) | 1.00 | 1.00 | $0 | $0 | $0 | Yes (X) | |||
| JAVIER AGUIRRE | |||||||||
| TREASURER | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| JOHN POPPO | |||||||||
| TRUSTEE (THRU 6/19) | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| LAURA TESORIERO | |||||||||
| CHAIRMAN EMERITUS | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| LUIS ALVAREZ FIOL | |||||||||
| TRUSTEE | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| LUIS BALAGUER | |||||||||
| TRUSTEE | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| MANUEL TEJADA | |||||||||
| TRUSTEE | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| NEIL PORTNOW | |||||||||
| TRUSTEE (THRU 7/19) | 1.00 | 1.00 | $0 | $0 | $0 | Yes (X) | |||
| PATY CANTU | |||||||||
| TRUSTEE | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| RAFA SARDINA | |||||||||
| TRUSTEE | 1.00 | 0.00 | $0 | $0 | $0 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,094,147 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $240,155 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 9 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| UNIVISION COMMUNICATIONS INC | |||||
| PO BOX 189 | TEANECK | NJ | 07666 | EVENT PRODUCTION | $1,381,627 |
| NATIONAL ACADEMY OF RECORDING ARTS & SCI | |||||
| 3030 OLYMPIC BLVD | SANTA MONICA | CA | 90404 | ADMINISTRATIVE SERVICES | $1,219,419 |
| GVF PRODUCTIONS INC | |||||
| 14803 CRANBROOK AVENUE | HAWTHORNE | CA | 90250 | EVENT PRODUCTION | $1,039,790 |
| MGM RESORTS INTERNATIONAL | |||||
| 3799 LAS VEGAS BOULEVARD | LAS VEGAS | NV | 89109 | EVENT PRODUCTION | $1,039,082 |
| BLANCO LORENZ ENTERTAINMENT BRANDING IN | |||||
| 500 S DIXIE HWY | CORAL GABLES | FL | 33146 | EVENT PRODUCTION | $719,241 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 23 | CntrctRcvdGreaterThan100KCnt |
| Membership Dues | $158,192 | MembershipDuesAmt |
| Total Contributions | $158,192 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | ExclusionExclusionAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|---|
| TELECAST REVENUE | 900099 | $15,212,851 | $15,212,851 | |
| SPONSORSHIP INCOME | 900099 | $3,101,203 | $3,101,203 | |
| PROJECT INCOME | 900099 | $1,380,650 | $1,380,650 | |
| FOREIGN SYNDICATION INCOME | 900099 | $854,108 | $854,108 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $153,839 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $153,839 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $20,702,651 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $822,326 | TotalRevenueColumnAmt |
| Exclusion | $822,326 | ExclusionAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $234,621 | TotalRevenueColumnAmt |
| Exclusion | $234,621 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $6,532,800 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $6,258,407 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $274,393 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $274,393 | TotalRevenueColumnAmt |
| Exclusion | $274,393 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $22,192,183 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $2,388,597 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $19,645,394 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,400,000 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,802,942 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,524,135 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $88,348 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $341,403 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $206,533 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $168,375 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $201,500 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,338,580 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $612,377 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $866,410 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $505,071 | TotalAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $510,383 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $966,025 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $103,768 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $141,547 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| EVENT PRODUCTION COSTS | $6,759,997 |
| CATERING SERVICES | $174,137 |
| GRAMMY AND POTY TICKETS | $167,699 |
| PRINTING | $116,342 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $105,057 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $19,100,629 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,719,952 | BOYAmt |
| EOY | $1,488,066 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,386,816 | BOYAmt |
| EOY | $8,228,283 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $50,715 | BOYAmt |
| EOY | $607,616 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,715,138 | BOYAmt |
| EOY | $2,289,109 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $731,831 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $386,573 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $434,522 | BOYAmt |
| EOY | $345,258 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,875,230 | BOYAmt |
| EOY | $17,903,369 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $90,000 | BOYAmt |
| EOY | $47,600 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $26,272,373 | BOYAmt |
| EOY | $30,909,301 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,836,076 | BOYAmt |
| EOY | $2,072,482 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $142,096 | BOYAmt |
| EOY | $161,163 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,625,308 | BOYAmt |
| EOY | $2,036,789 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,603,480 | BOYAmt |
| EOY | $4,270,434 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,668,893 | BOYAmt |
| EOY | $26,638,867 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,668,893 | BOYAmt |
| EOY | $26,638,867 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $26,272,373 | BOYAmt |
| EOY | $30,909,301 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $3,091,554 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $878,420 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantially All Dues Nonded | 0 | SubstantiallyAllDuesNondedInd |
| Only In House Lobbying | Yes (1) | OnlyInHouseLobbyingInd |
| Agree Carryover Prior Year | 0 | AgreeCarryoverPriorYearInd |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $343,415 | OtherCostOrOtherBasisAmt |
| Depreciation | $158,935 | DepreciationAmt |
| Book Value | $184,480 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $246,731 | OtherCostOrOtherBasisAmt |
| Depreciation | $156,658 | DepreciationAmt |
| Book Value | $90,073 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $141,685 | OtherCostOrOtherBasisAmt |
| Depreciation | $70,980 | DepreciationAmt |
| Book Value | $70,705 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $345,258 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| INTERCOMPANY ACCOUNT PAYABLE TO NARAS | $385,832 |
| INTERCOMPANY ACCOUNT RECEIVABLE FROM LGCF | -$32,604 |
| ROYALTY PAYABLE TO NARAS | $1,683,561 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $2,036,789 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $23,070,603 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $878,420 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $878,420 | RevenueNotReportedAmt |
| Revenue Subtotal | $22,192,183 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $22,192,183 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $19,100,629 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $19,100,629 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $19,100,629 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | 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, 2020 AND 2019, LARAS DID NOT RECORD ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Valuation Method UsedValuationMethodUsedDesc | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| LATIN GRAMMY CULTURAL FOUNDATION | ||||||||
| 3470 82ND AVENUE SUITE 600 | DORAL | FL | 33122 | 464770436 | 501(C)(3) | $1,200,000 | BOOK | GENERAL SUPPORT FOR THE FOUNDATION'S PROGRAMS |
| GRAMMY MUSEUM FOUNDATION | ||||||||
| 888 S FIGUEROA STREET SUITE 600 | LOS ANGELES | CA | 90017 | 261447714 | 501(C)(3) | $200,000 | BOOK | GENERAL SUPPORT FOR THE MUSEUM FOUNDATION'S PROGRAMS |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 2 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | 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. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | Yes (X) | FirstClassOrCharterTravelInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (6 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GABRIEL ABAROA | ||||||||||||||
| PRESIDENT/CEO | $708,348 | $0 | $621,574 | $0 | $17,322 | $0 | $12,000 | $0 | $31,977 | $0 | $1,391,221 | $0 | $0 | $0 |
| LUIS DOUSDEBES | ||||||||||||||
| CFO | $392,698 | $0 | $2,400 | $0 | $6,822 | $0 | $7,800 | $0 | $26,579 | $0 | $436,299 | $0 | $0 | $0 |
| AIDA SCORZA | ||||||||||||||
| VP AWARDS | $331,564 | $0 | $2,400 | $0 | $15,397 | $0 | $12,500 | $0 | $12,626 | $0 | $374,487 | $0 | $0 | $0 |
| DAVINA ARYEH | ||||||||||||||
| CMO | $295,918 | $0 | $2,400 | $0 | $3,486 | $0 | $9,500 | $0 | $14,724 | $0 | $326,028 | $0 | $0 | $0 |
| IVELIESSE MALAVE | ||||||||||||||
| VP OF COMMUNICATIONS | $219,311 | $0 | $2,400 | $0 | $3,964 | $0 | $9,500 | $0 | $3,733 | $0 | $238,908 | $0 | $0 | $0 |
| ADRIANO HAUBENTHAL | ||||||||||||||
| DIR. DIGITAL STRATEGY | $143,180 | $0 | $1,200 | $0 | $268 | $0 | $3,750 | $0 | $31,089 | $0 | $179,487 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 1B | FormAndLineReferenceDesc |
| Explanation | 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 THE VICE PRESIDENT, PRESIDENT 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 THIER 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. | ExplanationTxt |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | TERRY LICKONA | PersonNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | FORMER TRUSTEE | RelationshipDescriptionTxt |
| Transaction | $117,600 | TransactionAmt |
| Transaction | LARAS HIRED TERRY LICKONA TO CO-PRODUCE THE LATIN GRAMMY AWARDS. | TransactionDesc |
| Sharing Of Revenues | 0 | SharingOfRevenuesInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 1 | 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, THE PRESIDENT/CEO OF THE RECORDING ACADEMY AND THE PRESIDENT/CEO OF THE LATIN RECORDING ACADEMY. |
| FORM 990, PART VI, SECTION A, LINE 2 | NEIL PORTNOW AND JOHN POPPO - BUSINESS RELATIONSHIP |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 IS REVIEWED BY THE PRESIDENT/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 2020 ANNUAL BOARD MEETING. |
| FORM 990, PART VI, SECTION B, LINE 15A | THE PRESIDENT'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 PRESIDENT/CEO AND ANY INCREASES 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. |
| TANGIBLE PROPERTY REGULATION ELECTIONS | SECTION 1.263(A)-1(F) DE MINIMIS SAFE HARBOR ELECTION TAXPAYER IS MAKING THE DE MINIMIS SAFE HARBOR ELECTION UNDER TREAS. REG. 1.263(A)-1(F) FOR ALL ELIGIBLE AMOUNTS PAID OR INCURRED DURING THE TAXABLE YEAR. SECTION 1.263(A)-3(N) CAPITALIZATION ELECTION TAXPAYER HEREBY ELECTS TO CAPITALIZE REPAIR AND MAINTENANCE COSTS UNDER TREAS. REG. 1.263(A)-3(N). THE COSTS WERE INCURRED DURING THE TAXABLE YEAR IN THE ELECTING TAXPAYER'S TRADE OR BUSINESS AND THE ELECTING TAXPAYER TREATS SUCH COSTS AS CAPITAL EXPENDITURES ON ITS BOOKS AND RECORDS. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE LATIN GRAMMY CULTURAL FOUNDATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3470 NW 82ND AVENUE SUITE 700 | AddressLine1Txt |
| City | DORAL | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33122 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 464770436 | EIN |
| Primary Activities | SCHOLARSHIPS, RESEARCH & PRESERVATION GRANTS AND EDUCATIONAL EVENTS RELATED | PrimaryActivitiesTxt |
| Legal Domicile State | DE | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | LINE 11 | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE LATIN ACADEMY OF RECORDING ARTS & SCIENCES INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (1) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE LATIN GRAMMY CULTURAL FOUNDATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | B | TransactionTypeTxt |
| Involved | $1,200,000 | InvolvedAmt |
| Method Of Amount Determination | CASH | MethodOfAmountDeterminationTxt |
Comments