2020-12-15T18:36:57-06:00 2020-01-31 861065772 DELOITTE TAX LLP 695 TOWN CENTER DRIVE SUITE 1000 COSTA MESA CA 92626 990 2019-02-01 954501165 THE LATIN ACADEMY OF RECORDING ARTS & SCIENCES INC LATI 3055760036 3470 NW 82ND AVENUE NO 600 MIAMI FL 331221028 JAVIER AGUIRRE CFO 3055760036 2020-12-15 1 JESSICA KARANTONIS P00969387 7144367100 76.87.65.13 2020-12-15 14:34:32 PS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 CAB325197066E01C9793426B3F2BA03F046A4D31 2019 2021-04-22 16:20:28Z THE LATIN RECORDING ACADEMY GABRIEL ABAROA 3470 NW 82ND AVENUE NO 600 MIAMI FL 331221028 28450590 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 25 120 0 0 138518 158192 19044216 20702651 1276124 1096719 133851 234621 20592709 22192183 1222500 1400000 0 0 4028206 4963361 0 0 0 10780813 12737268 16031519 19100629 4561190 3091554 26272373 30909301 3603480 4270434 22668893 26638867 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 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. 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. 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. 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 77 0 1 25 1 0 0 0 0 1 1 0 1 0 X 17 17 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 CA X JAVIER AGUIRRE 3055760036 3470 NW 82ND AVENUE SUITE 600 DORAL FL 331221028 GABRIEL ABAROA PRESIDENT/CEO 40.00 5.00 X 1347244 0 43977 LUIS DOUSDEBES CFO 40.00 0.00 X 401920 0 34379 AIDA SCORZA VP AWARDS 40.00 0.00 X 349361 0 25126 DAVINA ARYEH CMO 40.00 0.00 X 301804 0 24224 IVELIESSE MALAVE VP OF COMMUNICATIONS 40.00 0.00 X 225675 0 13233 MANUEL ABUD COO (FROM 9/19) 40.00 0.00 X 114881 0 8792 ADRIANO HAUBENTHAL DIR. DIGITAL STRATEGY 40.00 0.00 X 144648 0 34839 MELANIE GALARCE DIR. MARKETING/BUS. DEV 40.00 0.00 X 104431 0 34667 LIVYS CERNA SR. DIR. ARTIST/INDUSTRY RELATIONS 40.00 0.00 X 104183 0 20918 ALEXANDRA LIOUTIKOFF TRUSTEE 1.00 0.00 X 0 0 0 ALOYSIO REIS SECRETARY 1.00 0.00 X 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 CHRISTINE ALBERT TRUSTEE 1.00 0.00 X 0 0 0 DEBORAH DUGAN TRUSTEE (THRU 1/20) 1.00 0.00 X 0 0 0 EDUARDO BERGALLO TRUSTEE 1.00 0.00 X 0 0 0 EDUARDO HUTT CHAIRMAN OF THE BOARD 1.00 0.00 X 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 (FROM 6/19) 1.00 1.00 X 0 0 0 JAVIER AGUIRRE TREASURER 1.00 0.00 X X 0 0 0 JOHN POPPO TRUSTEE (THRU 6/19) 1.00 0.00 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 NEIL PORTNOW TRUSTEE (THRU 7/19) 1.00 1.00 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 3094147 0 240155 9 0 1 0 UNIVISION COMMUNICATIONS INC PO BOX 189 TEANECK NJ 07666 EVENT PRODUCTION 1381627 NATIONAL ACADEMY OF RECORDING ARTS & SCI 3030 OLYMPIC BLVD SANTA MONICA CA 90404 ADMINISTRATIVE SERVICES 1219419 GVF PRODUCTIONS INC 14803 CRANBROOK AVENUE HAWTHORNE CA 90250 EVENT PRODUCTION 1039790 MGM RESORTS INTERNATIONAL 3799 LAS VEGAS BOULEVARD LAS VEGAS NV 89109 EVENT PRODUCTION 1039082 BLANCO LORENZ ENTERTAINMENT BRANDING IN 500 S DIXIE HWY CORAL GABLES FL 33146 EVENT PRODUCTION 719241 23 158192 158192 TELECAST REVENUE 900099 15212851 15212851 SPONSORSHIP INCOME 900099 3101203 3101203 PROJECT INCOME 900099 1380650 1380650 FOREIGN SYNDICATION INCOME 900099 854108 854108 153839 153839 20702651 822326 822326 234621 234621 6532800 6258407 274393 274393 274393 22192183 2388597 0 19645394 1400000 2802942 1524135 88348 341403 206533 168375 201500 1338580 612377 866410 505071 510383 966025 103768 141547 EVENT PRODUCTION COSTS 6759997 CATERING SERVICES 174137 GRAMMY AND POTY TICKETS 167699 PRINTING 116342 105057 19100629 1719952 1488066 2386816 8228283 50715 607616 2715138 2289109 731831 386573 434522 345258 18875230 17903369 90000 47600 26272373 30909301 1836076 2072482 142096 161163 1625308 2036789 3603480 4270434 X 22668893 26638867 22668893 26638867 26272373 30909301 3091554 878420 0 X 0 1 X 1 0 0 1 0 343415 158935 184480 246731 156658 90073 141685 70980 70705 345258 INTERCOMPANY ACCOUNT PAYABLE TO NARAS 385832 INTERCOMPANY ACCOUNT RECEIVABLE FROM LGCF -32604 ROYALTY PAYABLE TO NARAS 1683561 2036789 X 23070603 878420 878420 22192183 0 22192183 19100629 0 19100629 0 19100629 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, 2020 AND 2019, 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) 1200000 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) 200000 BOOK GENERAL SUPPORT FOR THE MUSEUM FOUNDATION'S PROGRAMS 2 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 1 X X X X X 0 0 0 GABRIEL ABAROA PRESIDENT/CEO 708348 0 621574 0 17322 0 12000 0 31977 0 1391221 0 0 0 LUIS DOUSDEBES CFO 392698 0 2400 0 6822 0 7800 0 26579 0 436299 0 0 0 AIDA SCORZA VP AWARDS 331564 0 2400 0 15397 0 12500 0 12626 0 374487 0 0 0 DAVINA ARYEH CMO 295918 0 2400 0 3486 0 9500 0 14724 0 326028 0 0 0 IVELIESSE MALAVE VP OF COMMUNICATIONS 219311 0 2400 0 3964 0 9500 0 3733 0 238908 0 0 0 ADRIANO HAUBENTHAL DIR. DIGITAL STRATEGY 143180 0 1200 0 268 0 3750 0 31089 0 179487 0 0 0 PART I, LINE 1B 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. TERRY LICKONA FORMER TRUSTEE 117600 LARAS HIRED TERRY LICKONA TO CO-PRODUCE THE LATIN GRAMMY AWARDS. 0 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. THE LATIN GRAMMY CULTURAL FOUNDATION 3470 NW 82ND AVENUE SUITE 700 DORAL 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 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 THE LATIN GRAMMY CULTURAL FOUNDATION B 1200000 CASH