2017-12-15T14:49:31-06:00 2017-01-31 861065772 DELOITTE TAX LLP 555 MISSION STREET SAN FRANCISCO CA 94105 990 2016-02-01 954501165 THE LATIN ACADEMY OF RECORDING ARTS & SCIENCES INC LATI 3055760036 3470 NW 82nd Avenue No 700 Miami FL 331221028 LUIS DOUSDEBES CFO 3055760036 2017-12-14 1 JOAN S MCMAHON P00966494 4157834000 167.219.0.140 2017-12-14 10:01:44 MS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 9AC34A7B5945BD6C8FE93DE27BC8B9D8024E155A 2016 2018-03-14 21:41:22Z THE LATIN RECORDING ACADEMY Luis Dousdebes 3470 NW 82nd Avenue No 700 Miami FL 331221028 16082050 0 X www.latingrammy.com X 1994 DE THE ORGANIZATION'S MISSION IS TO ADVANCE THE ARTS AND SCIENCES OF RECORDING LATIN MUSIC. 16 16 23 120 0 0 113803 140297 13878348 15750676 534512 190228 224483 849 14751146 16082050 750000 1000000 0 0 3108361 3154982 0 0 0 8300408 9761609 12158769 13916591 2592377 2165459 14682578 19048459 2443870 3096106 12238708 15952353 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 17th ANNUAL LATIN GRAMMY AWARDS WAS HELD ON NOVEMBER 18, 2016 AT THE T-MOBILE 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 2016, THE LATIN RECORDING ACADEMY HOSTED A GALA DINNER AND CONCERT IN HONOR OF MARC ANTHONY, HELD AT THE MGM GRAND GARDEN ARENA ON NOVEMBER 17, 2016. 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 17, 2016. During this year we conducted the Latin GRAMMY Acoustic Session which is a series of concerts (5 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 0 0 0 0 0 0 0 0 1 1 1 0 1 78 0 1 23 1 0 0 0 0 1 1 0 X 16 16 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 700 Miami FL 331221028 Laura Tesoriero Chairwoman of the Board 1.00 X X 0 0 0 Marcelo Castelo Branco Vice Chairman 1.00 X X 0 0 0 Eduardo Hutt Treasurer 1.00 X X 0 0 0 Johnny Ventura Secretary 1.00 X X 0 0 0 Andy Garcia Trustee Ad Honorem 1.00 X 0 0 0 CARLA ESTRADA Trustee 1.00 X 0 0 0 Cris Morena Trustee 1.00 X 0 0 0 Fernando Barbosa Trustee 1.00 X 0 0 0 George Flanigen Trustee 1.00 X 0 0 0 JOHN POPPO Trustee 1.00 X 0 0 0 Luis Cobos Chairman Emeritus 1.00 1.00 X 0 0 0 LUIS BALAGUER Trustee 1.00 X 0 0 0 MARIA CRISTINA GARCIA CEPEDA Trustee 1.00 X 0 0 0 Neil Portnow Trustee 1.00 1.00 X 0 0 0 Oscar Gomez Trustee 1.00 X 0 0 0 Sebastian Krys Trustee 1.00 X 0 0 0 Terry Lickona Trustee 1.00 X 0 0 0 Gabriel Abaroa President/CEO 40.00 5.00 X 851718 0 55634 Luis Dousdebes CFO 40.00 X 298867 0 42689 Aida Scorza VP of Awards 40.00 X 231635 0 27907 Davina Aryeh CMO 40.00 X 204126 0 16306 1586346 0 142536 5 0 1 0 THE NATIONAL ACADEMY OF RECORDING ARTS & 3030 OLYMPIC BLVD SANTA MONICA CA 90404 ADMINISTRATIVE SERVICES 2186523 GVF PRODUCTIONS INC 14803 CRANBROOK AVENUE HAWTHORNE CA 90250 EVEnt Production 952100 Univision Communications Inc PO Box 189 Teaneck NJ 07666 Event Production 919305 MGM RESORTS INTERNATIONAL 3799 LAS VEGAS BOULEVARD Las Vegas NV 89109 Event Production 519082 HAKKASAN LV LLC LAS VEGAS 5555 BADURA AVENUE SUITE 120 LAS Vegas NV 89118 AFTER PARTY PRODUCTION COSTS 363732 17 140297 140297 Telecast revenue 900099 10981634 10981634 Sponsorship Income 900099 2926178 2926178 Project Income 900099 859550 859550 Foreign Syndication 900099 820819 820819 Radio Show Income 900099 149775 149775 12720 12720 15750676 190228 190228 849 849 16082050 1842864 0 14098889 1000000 1728882 942817 114700 233908 134675 122096 188475 1176594 262159 487064 335714 850337 709597 10622 128675 Event Production Costs 5076020 Printing 154325 Catering Services 97943 Postage and Delivery 84388 77600 13916591 2082340 1921779 718039 5278872 138869 71056 187739 132285 248995 222462 37154 26533 11472801 11572298 45636 45636 14682578 19048459 600649 1501715 106440 159598 1736781 1434793 2443870 3096106 X 12238708 15952353 12238708 15952353 14682578 19048459 2165459 1548186 0 X 0 1 X 1 0 0 1 0 X 0 103693 98579 5114 70934 63876 7058 74368 60007 14361 26533 INTERCOMPANY ACCOUNT PAYABLE TO NARAS 651115 INTERCOMPANY ACCOUNT RECEIVABLE FROM LGCF -12848 ROYALTY PAYABLE TO NARAS 796526 1434793 X 17630236 1548186 1548186 16082050 0 16082050 13916591 0 13916591 0 13916591 Part III, Line 1a: The Latin Academy of Recording Arts & Sciences owns a collection of seventeen 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, 2017 AND 2016, LARAS DID NOT RECORD ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. 1 LATIN GRAMMY CULTURAL FOUNDATION 3470 82ND AVENUE SUITE 700 DORAL FL 33122 464770436 501(c)(3) 1000000 Book GENERAL SUPPOPRT FOR THE FOUNDATION'S PROGRAMS 1 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 571896 0 262500 0 17322 0 25250 0 30384 0 907352 0 0 0 Luis Dousdebes CFO 291125 0 2000 0 5742 0 18808 0 23881 0 341556 0 0 0 Aida Scorza VP of Awards 219123 0 2000 0 10512 0 16504 0 11403 0 259542 0 0 0 Davina Aryeh CMO 198750 0 2000 0 3376 0 14571 0 1735 0 220432 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. 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, George Flanigen, 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 BUSINESS AFFAIRS MANUAL IS IN THE PROCESS OF BEING REVISED, WHICH WILL INCLUDE REVISIONS TO THE PROCESS FOR MONITORING AND ENFORCING THE CONFLICT OF INTEREST POLICY. THE REVISED MANUAL WAS PRESENTED FOR DISCUSSION AND APPROVAL BY THE BOARD OF TRUSTEES AT THE ANNUAL MEETING IN MARCH 2013; THE BOARD'S DECISION IS CURRENTLY PENDING. THE APPROVAL OF THE BUSINESS AFFAIRS MANUAL WILL BE INCLUDED IN THE AGENDA OF THE 2018 BOARD OF TRUSTEES 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. 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 10 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 1000000 Cash