2019-12-16T13:44:50-06:00 2019-01-31 861065772 DELOITTE TAX LLP 555 MISSION STREET SAN FRANCISCO CA 94105 990 2018-02-01 954501165 THE LATIN ACADEMY OF RECORDING ARTS & SCIENCES INC LATI 3055760036 3470 NW 82ND AVENUE NO 600 MIAMI FL 331221028 LUIS DOUSDEBES CFO 3055760036 2019-12-16 1 JOAN S MCMAHON P00966494 4157834000 167.219.0.140 2019-12-16 12:10:58 PS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 294B98C86494834D33D354154149B4F31E4339DE 2018 2020-04-17 16:48:07Z THE LATIN RECORDING ACADEMY LUIS DOUSDEBES 3470 NW 82ND AVENUE NO 600 MIAMI FL 331221028 25594263 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 1054 189734 138518 16233599 19044216 679407 1276124 63175 133851 17165915 20592709 1025000 1222500 0 0 3613146 4028206 0 0 0 10019294 10780813 14657440 16031519 2508475 4561190 23652187 26272373 3884208 3603480 19767979 22668893 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 19TH ANNUAL LATIN GRAMMY AWARDS WAS HELD ON NOVEMBER 15, 2018 AT THE MGM GRAND GARDEN ARENA 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 2018, THE LATIN RECORDING ACADEMY HOSTED A GALA DINNER AND CONCERT IN HONOR OF MANA, HELD AT THE MANDALAY BAY EVENT CENTER ON NOVEMBER 14, 2018. 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 FOUR SEASONS HOTEL OF LAS VEGAS ON NOVEMBER 13, 2018. DURING THIS YEAR WE CONDUCTED THE LATIN GRAMMY ACOUSTIC SESSION WHICH IS A SERIES OF CONCERTS (2 DOMESTIC AND 2 INTERNATIONAL) TO SHOWCASE LATIN ARTISTS. 0 0 0 1 0 0 1 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 1 1 0 0 0 1 1 0 0 0 0 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 LUIS DOUSDEBES 3055760036 3470 NW 82ND AVE STE 600 MIAMI FL 331221028 ALEXANDRA LIOUTIKOFF TRUSTEE 1.00 X 0 0 0 CARLA ESTRADA TRUSTEE 1.00 X 0 0 0 CARLOS ALVAREZ TRUSTEE 1.00 X 0 0 0 CHRISTINE ALBERT TRUSTEE 1.00 X 0 0 0 EDUARDO BERGALLO TRUSTEE 1.00 X 0 0 0 EDUARDO HUTT CHAIRMAN OF THE BOARD 1.00 X X 0 0 0 EDUARDO WEISE TRUSTEE 1.00 X 0 0 0 EVA CEBRIAN VICE CHAIRWOMAN 1.00 X 0 0 0 JAVIER AGUIRRE TREASURER 1.00 X X 0 0 0 JOHN POPPO TRUSTEE 1.00 X 0 0 0 JOHNNY VENTURA TO 112018 TRUSTEE 1.00 X 0 0 0 LAURA TESORIERO CHAIRMAN EMERITUS 1.00 X 0 0 0 LUIS BALAGUER TRUSTEE 1.00 X 0 0 0 LUIS ALVAREZ FIOL TRUSTEE 1.00 X 0 0 0 NEIL PORTNOW TRUSTEE 1.00 1.00 X 0 0 0 MANUEL TEJADA TRUSTEE 1.00 X 0 0 0 PATY CANTU TRUSTEE 1.00 X 0 0 0 RAFA SARDINA TRUSTEE 1.00 X 0 0 0 MARCELO CASTELO BRANCO (TO 11/2018) VICE CHAIRMAN 1.00 X 0 0 0 LUIS COBOS TO 112018 TRUSTEE 1.00 X 0 0 0 OSCAR GOMEZ TO 112018 TRUSTEE 1.00 X 0 0 0 TERRY LICKONA TO 112018 TRUSTEE 1.00 X 0 0 0 ALOYSIO REIS SECRETARY 1.00 X X 0 0 0 GABRIEL ABAROA PRESIDENT/CEO 40.00 5.00 X 972517 0 57022 LUIS DOUSDEBES CFO 40.00 X 365549 0 49226 AIDA SCORZA VP AWARDS 40.00 X 306243 0 20715 DAVINA ARYEH CMO 40.00 X 258948 0 19259 IVELIESSE MALAVE VP OF COMMUNICATIONS 40.00 X 213433 0 18140 ADRIANO HAUBENTHAL DIR. DIGITAL STRATEGY 40.00 X 137198 0 9876 2253888 0 174238 6 0 1 0 GREENBERG TRAURIG LLP 333 SOUTHEAST 2ND AVENUE SUITE 400 MIAMI FL 33131 LEGAL SERVICES 2547478 NATIONAL ACADEMY OF RECORDING ARTS & SCI 3030 OLYMPIC BLVD SANTA MONICA CA 90404 ADMINISTRATIVE SERVICES 1820941 UNIVISION COMMUNICATIONS INC PO BOX 189 TEANECK NJ 07666 EVENT PRODUCTION 1215428 GVF PRODUCTIONS INC 14803 CRANBROOK AVENUE HAWTHORNE CA 90250 EVENT PRODUCTION 947715 MGM RESORTS INTERNATIONAL 3799 LAS VEGAS BLVD LAS VEGAS NV 89109 EVENT PRODUCTION 781441 25 138518 138518 TELECAST REVENUE 900099 12855581 12855581 SPONSORSHIP INCOME 900099 3761504 3761504 PROJECT INCOME 900099 1169150 1169150 FOREIGN SYNDICATION 900099 956056 956056 RADIO SHOW INCOME 900099 147720 147720 154205 154205 19044216 927570 927570 133851 133851 5350108 5001554 348554 348554 348554 20592709 2427131 0 18027060 1222500 2116690 1409012 66679 260553 175272 49835 124890 1059929 259471 629224 394523 806007 849995 64574 113596 EVENT PRODUCTION COSTS 6044815 CATERING SERVICES 160208 PRINTING 133213 POSTAGE AND DELIVERY 90533 16031519 704956 1719952 609919 2386816 1004886 50715 157817 2715138 717327 282805 16095 434522 21138514 18875230 20000 90000 23652187 26272373 2050932 1836076 142298 142096 1690978 1625308 3884208 3603480 X 19767979 22668893 19767979 22668893 23652187 26272373 4561190 -1660276 0 X 0 1 X 1 0 0 1 0 X 0 328911 126762 202149 246732 98059 148673 141685 57985 83700 434522 INTERCOMPANY ACCOUNT PAYABLE TO NARAS 496895 INTERCOMPANY ACCOUNT RECEIVABLE FROM LGCF -44765 ROYALTY PAYABLE TO NARAS 1173178 1625308 X 18932435 -1660276 -1660276 20592711 0 20592711 16031519 0 16031519 0 16031519 PART III, LINE 1A: THE LATIN ACADEMY OF RECORDING ARTS & SCIENCES OWNS A COLLECTION OF NINETEEN OFFICIAL LATIN GRAMMY WORKS OF ART THAT WERE PAINTED BY INDEPENDENT ARTISTS COMMISSIONED ON A WORK FOR HIRE BASIS. NO DOLLAR AMOUNT IS ALLOCATED TO EACH PIECE OF ARTWORK. PART III, LINE 4: TO PROMOTE THE CREATIVE SPIRIT AND INCREDIBLE DIVERSITY OF LATIN MUSIC THROUGH EACH PIECE OF ARTWORK. PART X, LINE 2: 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, 2019 AND 2018, 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 MUSICARES FOUNDATION 3030 OLYMPIC BOULEVARD SANTA MONICA CA 90404 954470909 501(C)(3) 10000 BOOK GENERAL SUPPORT FOR THE MUSICARES FOUNDATION'S PROGRAMS THE PALEY CENTER FOR MEDIA 25 WEST 52 STREET NEW YORK NY 10019 132805582 501(C)(3) 10000 BOOK GENERAL SUPPORT - TICKETS TO THE PALEY HONORS GALA 3 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 654659 0 300536 0 17322 0 12000 0 45022 0 1029539 0 0 0 LUIS DOUSDEBES CFO 355727 0 3000 0 6822 0 7800 0 41426 0 414775 0 0 0 AIDA SCORZA VP AWARDS 291923 0 3000 0 11320 0 4550 0 16165 0 326958 0 0 0 DAVINA ARYEH CMO 252484 0 3000 0 3464 0 9250 0 10009 0 278207 0 0 0 IVELIESSE MALAVE VP OF COMMUNICATIONS 206784 0 3000 0 3649 0 8764 0 9376 0 231573 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 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 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 TRUSTEE 108418 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 COMMITTTE 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: CHARIMAN 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, TERRY LICKONA 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 2019 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