2023-07-28T01:21:29-05:00 2023-01-31 861065772 DELOITTE TAX LLP 695 TOWN CENTER DRIVE SUITE 1000 COSTA MESA CA 92626 990 2022-02-01 464770436 LATIN GRAMMY CULTURAL FOUNDATION LATI 3055760036 3470 NW 82ND AVENUE 600 DORAL FL 33122 RAQUEL EGUSQUIZA EXECUTIVE DIRECTOR 3055760036 2023-07-20 1 RAQUEL EGUSQUIZA 999009999 0 JESSICA KARANTONIS P00969387 7144367100 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z RAQUEL EGUSQUIZA 3470 NW 82ND AVENUE 600 DORAL FL 33122 2346253 0 X LATINGRAMMYCULTURALFOUNDATION.ORG X 2013 DE TO BRING INTERNATIONAL ATTENTION TO THE CONTRIBUTION OF LATIN MUSIC TO THE WORLD'S CULTURE TO PROVIDE HIGH QUALITY EDUCATION FOR YOUNG TALENTED CREATORS OF LATIN MUSIC AND TO PRESERVE LATIN MUSIC GENRES. THE FOUNDATION'S PRIMARY CHARITABLE FOCUS WILL BE PROVIDING SCHOLARSHIPS TO GIFTED AND TALENTED LATIN MUSIC CREATORS BETWEEN 18 AND 24 YEARS OF AGE FROM AROUND THE GLOBE TO PERFECT THE KNOWLEDGE AND INTERPRETATION OF LATIN MUSIC. 6 6 7 7 0 0 1931973 2308753 132900 37500 0 0 0 0 2064873 2346253 829627 850633 0 0 935089 824235 0 0 516189 253890 606895 2018606 2281763 46267 64490 2673582 2959967 1529750 1655812 1143832 1304155 THE LATIN GRAMMY CULTURAL FOUNDATION, THROUGH SCHOLARSHIPS, FELLOWSHIPS, GRANTS AND EDUCATION PROGRAMS, FURTHERS INTERNATIONAL AWARENESS AND APPRECIATION OF THE SIGNIFICANT CONTRIBUTIONS OF LATIN MUSIC AND ITS MAKERS TO THE WORLD'S CULTURE. 0 0 923798 722073 SCHOLARSHIPS (LATIN MUSIC EDUCATION): PROVIDE FINANCIAL SUPPORT TO LATIN MUSIC STUDENTS WITH THREE ANNUAL PROGRAMS: 1 PRODIGY SCHOLARSHIP OF UP TO $200K, 3 GIFTED SCHOLARSHIPS OF UP TO $100K EACH, AND 40 TUITION ASSISTANCE SCHOLARSHIPS OF UP TO $10K EACH. 239882 98128 37500 MUSIC EDUCATION PROGRAMS (LATIN GRAMMY IN THE SCHOOLS): BRING MUSIC PROFESSIONALS AND WELL-RECOGNIZED TALENT TO SHARE THEIR PROFESSIONAL EXPERIENCES IN THE MUSIC INDUSTRY WITH STUDENTS AND GIVE THEM ADVICE ON THE IMPORTANCE OF MUSIC AND ARTS AS AN INTEGRAL PART OF THEIR EDUCATION. IN PARTNERSHIP WITH A SPONSOR AND AN ARTIST, MUSICAL INSTRUMENTS ARE DONATED TO SCHOOLS WITH A MUSIC PROGRAM. 73661 19960 MUSIC RESEARCH AND PRESERVATION (LATIN MUSIC): MISCELLANEOUS PROGRAMS TO FURTHER THE INTERNATIONAL AWARENESS AND APPRECIATION OF THE SIGNIFICANT CONTRIBUTIONS OF LATIN MUSIC AND ITS MAKERS TO THE WORLD'S CULTURE. 1237341 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 15 0 1 7 1 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 1 1 1 1 0 AK AL AR CA CO CT DC FL GA HI IL KS KY MA MD ME MI MN MS NC ND NH NJ NM NV NY OH OK OR PA RI SC TN UT VA WA WI WV X JAVIER AGUIRRE 3055760036 3470 NW 82ND AVENUE SUITE 600 DORAL FL 33122 TANYA RAMOS PRESIDENT (TO 2/8/22) 40.00 0.00 X X 176129 0 10119 LUIS COBOS CHAIRPERSON 1.00 0.00 X X 0 0 0 RAUL VAZQUEZ TREASURER/SECRETARY 1.00 0.00 X X 0 0 0 GINNY PEIRATS DIRECTOR 1.00 0.00 X 0 0 0 HARVEY MASON JR DIRECTOR 1.00 1.00 X 0 0 0 MANUEL DIAZ DIRECTOR 1.00 0.00 X 0 0 0 MIREYA CISNEROS DIRECTOR 1.00 0.00 X 0 0 0 RAQUEL EGUSQUIZA EXECUTIVE DIRECTOR (FROM 10/10/22) 40.00 0.00 X 51498 0 5138 REBECCA VILLAESCUSA VICE PRESIDENT 40.00 0.00 X 243891 0 36910 NANNETTE VELEZ SENIOR DIRECTOR OF PROGRAMS 40.00 0.00 X 110450 0 36038 581968 0 88205 3 0 1 0 0 1200000 1108753 2308753 PROJECT INCOME 900099 37500 37500 37500 2346253 37500 0 0 93128 93128 30000 30000 727505 727505 581968 233273 104804 243891 84405 2239 2247 79919 11097 843 383 9871 105231 35867 16358 53006 41534 15936 7243 18355 4393 4393 22930 22930 207782 19387 160614 27781 4662 18 4191 453 178051 7673 170378 62402 30701 31058 643 3634 3634 GRAMMY AND POTY TICKETS 52100 52100 EVENT PRODUCTION COSTS 40771 40771 FUNDRAISING EXPENSES 30170 30170 2281763 1237341 528233 516189 2391732 2407283 191667 314528 4229 135177 85954 102979 2673582 2959967 131906 254830 1303726 1273571 85000 24000 9118 103411 1529750 1655812 X 864668 929155 279164 375000 1143832 1304155 2673582 2959967 X 64490 95833 X 0 1 X 1 0 X 1727438 2110438 1799972 1931972 2308753 9878573 1727438 2110438 1799972 1931972 2308753 9878573 6953704 2924869 0 0 0 0 0 9878573 577578 0.29610 0.26830 X THE ORGANIZATION MEETS THE 10% FACTS AND CIRCUMSTANCES TEST BECAUSE IT IS ACTIVELY SOLICITING DONATIONS FROM THE GENERAL PUBLIC. THE ORGANIZATION ENGAGES IN VARIOUS ACTIVITIES TO SOLICIT FUNDS. FUNDRAISING EFFORTS INCLUDE ONLINE DONATION TOOLS SUCH AS AMAZON SMILE AND FACEBOOK. THE ORGANIZATION ALSO ENGAGED IN A CALL TO ACTION TO LARAS BOARD MEMBERS TO REQUEST DONATIONS. LAST YEAR, THE ORGANIZATION SECURED A $1M PLEDGE FROM LOUD & LIVE AS WELL AS A $240K PARTNERSHIP WITH JPMORGAN CHASE TO SPONSOR MULTIPLE EDUCATION PROGRAMS THROUGHOUT THE YEAR. IN ADDITION, THE ORGANIZATION HAS A PUBLIC BOARD WHICH IS FREE OF CONFLICTS OF INTEREST. ALSO, THE PROGRAMS LGCF PROVIDES ARE RESPONSIVE TO AND FOR THE BENEFIT OF A BROAD AND DIVERSE CROSS SECTION OF THE PUBLIC DOMESTICALLY AND INTERNATIONALLY. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 PAYABLE TO LARAS 103411 103411 X 2346253 0 2346253 0 2346253 2281763 0 2281763 0 2281763 PART X, LINE 2: LGCF 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, 2023 AND 2022, LGCF DID NOT RECORD ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 GRANT-MAKING 24419 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANT-MAKING 108942 NORTH AMERICA 0 0 GRANT-MAKING 20695 SOUTH AMERICA 0 0 GRANT-MAKING 538018 0 0 0 0 0 0 692074 0 692074 SOUTH AMERICA MUSICAL INSTRUMENTS FOR THEIR MUSIC PROGRAM 0 10000 MUSICAL INSTRUMENTS BOOK 0 1 RESEARCH & PRESERVATION GRANTS SOUTH AMERICA 1 5000 ELECTRONIC FUND/WIRE TRANSFER RESEARCH & PRESERVATION GRANTS NORTH AMERICA 1 5000 ELECTRONIC FUND/WIRE TRANSFER SCHOLARSHIP (PRODIGY, GIFTED, TUITION) CENTRAL AMERICA AND THE CARIBBEAN 6 24419 ELECTRONIC FUND/WIRE TRANSFER SCHOLARSHIP (PRODIGY, GIFTED, TUITION) EUROPE (INCLUDING ICELAND & GREENLAND) 9 108942 ELECTRONIC FUND/WIRE TRANSFER SCHOLARSHIP (PRODIGY, GIFTED, TUITION) NORTH AMERICA 7 20694 ELECTRONIC FUND/WIRE TRANSFER SCHOLARSHIP (PRODIGY, GIFTED, TUITION) SOUTH AMERICA 44 538018 ELECTRONIC FUND/WIRE TRANSFER 0 0 0 0 0 0 PART I, LINE 2: LGCF HAS PERIODIC COMMUNICATIONS WITH THE RECIPIENTS AND SUPERVISION OF THE ADVANCES OF THE PROJECTS. IN ADDITION, LGCF RECEIVED DOCUMENTATION OF THE PROJECT/PROGRAM ONCE IT IS FINALIZED. PART III ACCOUNTING METHOD: 1 GEORGE WASHINGTON EDUCATIONAL CAMPUS 52 CHAMBERS STREET NEW YORK NY 10007 136400434 501(C)(3) 0 39131 BOOK MUSICAL INSTRUMENTS MUSICAL INSTRUMENTS FOR THEIR MUSIC PROGRAM CRISTO REY MIAMI HIGH SCHOOL INC 125 NE 119TH STREET NORTH MIAMI FL 33161 820761238 501(C)(3) 0 10000 BOOK MUSICAL INSTRUMENTS MUSICAL INSTRUMENTS FOR THEIR MUSIC PROGRAM ACADEMY OF THE AMERICAS 3011 WEST GRAND BLVD 11TH FLOOR FISHER BUILDING DETROIT MI 48202 812847693 501(C)(3) 0 19425 BOOK MUSICAL INSTRUMENTS MUSICAL INSTRUMENTS FOR THEIR MUSIC PROGRAM UVALDE HIGH SCHOOL 1000 N GETTY ST UVALDE TX 78801 746002426 501(C)(3) 0 19572 BOOK MUSICAL INSTRUMENTS MUSICAL INSTRUMENTS FOR THEIR MUSIC PROGRAM 4 0 SCHOLARSHIP (TUITION) 3 30000 PART I, LINE 2: THE LATIN GRAMMY CULTURAL FOUNDATION MADE NON-CASH CONTRIBUTIONS (MUSICAL INSTRUMENTS OR RECORDING EQUIPMENT) TO MUSIC PROGRAMS OF LEGALLY ESTABLISHED SCHOOLS OR FOUNDATIONS. WHEN THE FOUNDATION GIFTS A SCHOLARSHIP, THE RECIPIENT SIGNS AN AGREEMENT AND THE FOUNDATION MAINTAINS COMMUNICATION WITH THE SCHOOL TO MONITOR TUITION COSTS AND COURSE SELECTIONS. THE FOUNDATION HAS AN ORGANIZED SCHOLARSHIP GRID TO KEEP TRACK OF EACH STUDENT'S TUITION EVERY SEMESTER AND ANY BALANCES REMAINING FROM ANY OF THE SCHOLARSHIPS GRANTED. X 1 1 X 1 0 0 0 0 0 0 0 0 REBECCA VILLAESCUSA VICE PRESIDENT 240280 0 2400 0 1211 0 14688 0 22222 0 280801 0 0 0 TANYA RAMOS PRESIDENT (TO 2/8/22) 175443 0 0 0 686 0 5170 0 4949 0 186248 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. PART I, LINE 4A TANYA RAMOS RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $106,615. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR AND AFTER THEIR APPROVAL IT IS DISTRIBUTED TO THE MEMBERS OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12 THE LATIN GRAMMY CULTURAL FOUNDATION HAS A CONFLICT OF INTEREST POLICY APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 THE SALARY OF THE EXECUTIVE DIRECTOR IS DISCUSSED AND APPROVED BY THE BOARD OF DIRECTORS. THE SALARY OF THE VICE PRESIDENT AND EACH EMPLOYEE IS REVIEWED AND APPROVED BY THE EXECUTIVE DIRECTOR/CEO AND ANY INCREASES ARE DISCUSSED AND APPROVED BY THE BOARD OF DIRECTORS. THE LAST DATE FOR THIS PROCESS OF REVIEW WAS TAKEN PLACE ON JANUARY 2023. FORM 990, PART VI, SECTION C, LINE 19 LGCF DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: ASSETS RELEASED FROM RESTRICTION 95,833. THE LATIN ACADEMY OF RECORDING ARTS & SCIENCES INC 3470 NW 82ND AVENUE SUITE 600 DORAL FL 33122 954501165 MEMBERSHIP BASED ORGANIZATION THAT PRODUCES THE LATIN GRAMMY AWARDS DE 501(C)(6) N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 THE LATIN ACADEMY OF RECORDING ARTS & SCIENCES INC C 1200000 CASH