2023-07-28T01:25:56-05:00 2023-01-31 861065772 DELOITTE TAX LLP 695 TOWN CENTER DRIVE SUITE 1000 COSTA MESA CA 92626 990 2022-02-01 954501165 THE LATIN ACADEMY OF RECORDING ARTS & SCIENCES INC LATI 3055760036 3470 NW 82ND AVENUE 600 MIAMI FL 331221028 JAVIER AGUIRRE CFO 3055760036 2023-07-26 1 JAVIER AGUIRRE 999009999 0 JESSICA KARANTONIS P00969387 7144367100 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z THE LATIN RECORDING ACADEMY MANUEL ABUD 3470 NW 82ND AVENUE 600 MIAMI FL 331221028 33871619 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 47 120 0 0 128098 129437 22656774 24853575 676635 -292632 261561 366297 23723068 25056677 1280000 1400000 0 0 6022543 7213729 0 0 0 12650707 15107909 19953250 23721638 3769818 1335039 39115078 40809726 3927780 5829261 35187298 34980465 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 TO RECOGNIZE THE EXCELLENCE IN MUSIC AND ITS CREATORS. THE 23RD ANNUAL LATIN GRAMMY AWARDS WAS HELD ON NOVEMBER 17, 2022 AT THE MICHELOB ULTRA ARENA IN LAS VEGAS. THIS WAS TELECAST BY UNIVISION AND IT WAS A LIVE EVENT. THE LATIN GRAMMY PREMIER EVENT: AN ANNUAL EVENT TO RECOGNIZE THE EXCELLENCE IN MUSIC AND ITS CREATORS. THE 23RD ANNUAL LATIN GRAMMY PREMIER EVENT WAS HELD ON NOVEMBER 17, 2022 BEFORE THE TELECAST OF THE LATIN GRAMMY AWARDS EVENT. IT WAS A LIVE EVENT. THE PERSON OF THE YEAR EVENT: AN ANNUAL EVENT TO HONOR AN ARTIST CAREER FOR HIS/HER EXCELLENCE IN LATIN MUSIC. THE 2022 PERSON OF THE YEAR (POTY) EVENT WAS HELD ON NOVEMBER 16, 2022 AT THE MANDALAY BAY IN LAS VEGAS. 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 68 0 1 47 1 0 0 0 0 1 1 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 CA X JAVIER AGUIRRE 3055760036 3470 NW 82ND AVENUE SUITE 600 DORAL FL 331221028 MANUEL ABUD CEO 40.00 0.00 X 816691 0 62945 LUIS DOUSDEBES CAMPO 40.00 0.00 X 525359 0 51574 JAVIER AGUIRRE CFO 40.00 0.00 X 469120 0 55707 AIDA SCORZA VP AWARDS 40.00 0.00 X 407807 0 40501 GABRIEL ABAROA PRESIDENT EMERITUS 40.00 0.00 X 310779 0 59945 IVELIESSE MALAVE VP OF COMMUNICATIONS 40.00 0.00 X 264274 0 30241 LAURA DERGAL VP OF MARKETING AND CONTENT 40.00 0.00 X 229574 0 46874 LIVYS CERNA SR. DIR. ARTIST/IND REL. (TO 8/22) 40.00 0.00 X 203997 0 38881 AYLEEN FIGUERAS SENIOR VP OF PRODUCTION 40.00 0.00 X 209868 0 30624 ADRIANO HAUBENTHAL SR. DIRECTOR PRODUCT MANAGEMENT 40.00 0.00 X 163107 0 47162 ENRIQUE PEREZ HEAD OF PARTNERSHIPS & CLIENT SOLUTIONS 40.00 0.00 X 180489 0 20258 DAVINA ARYEH CMO (TO 4/22) 40.00 0.00 X 158318 0 26835 MELANIE GALARCE SR. DIRECTOR OF PARTNERSHIPS 40.00 0.00 X 123020 0 47120 JUAN CAMILO RIVERA SR. PRODUCER 40.00 0.00 X 114945 0 9964 ALOYSIO REIS SECRETARY 1.00 0.00 X X 0 0 0 EDUARDO HUTT CHAIRMAN OF THE BOARD 1.00 0.00 X X 0 0 0 EVA CEBRIAN VICE CHAIRWOMAN 1.00 0.00 X X 0 0 0 LAURA TESORIERO CHAIR EMERITUS 1.00 0.00 X X 0 0 0 ALEXANDRA LIOUTIKOFF TRUSTEE 1.00 0.00 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 EDUARDO BERGALLO TRUSTEE 1.00 0.00 X 0 0 0 EDUARDO WEISE TREASURER 1.00 0.00 X 0 0 0 HARVEY MASON JR TRUSTEE 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 PATRICIA CANTU TRUSTEE 1.00 0.00 X 0 0 0 RAFA SARDINA TRUSTEE 1.00 0.00 X 0 0 0 RICO LOVE TRUSTEE 1.00 0.00 X 0 0 0 TAMMY HURT TRUSTEE 1.00 0.00 X 0 0 0 4177348 0 568631 14 0 1 0 UNIVISION COMMUNICATIONS INC PO BOX 189 TEANECK NJ 07666 EVENT PRODUCTION 2671456 GVF PRODUCTIONS INC 14803 CRANBROOK AVENUE HAWTHORNE CA 90250 EVENT PRODUCTION 1901650 MGM RESORTS INTERNATIONAL 3600 S LAS VEGAS BLVD LAS VEGAS NV 89109 HOTEL ROOMS AND MISCELLANEOUS 985250 NATIONAL ACADEMY OF RECORDING ARTS 3030 OLYMPIC BLVD SANTA MONICA CA 90404 ADMINISTRATIVE SERVICES 416481 HAKKASAN LV LLC 6385 S RAINBOW BLVD SUITE 800 LAS VEGAS NV 89118 AFTER PARTY VENUE 354456 14 129437 129437 TELECAST REVENUE 711320 17480457 17480457 SPONSORSHIP INCOME 711320 3677385 3677385 PROJECT INCOME (POTY) 711320 2114150 2114150 STREAMING ROYALTIES 900099 775954 775954 FOREIGN SYNDICATION INCOME 900099 627794 627794 177835 177835 24853575 659842 659842 366297 366297 7862468 8814942 -952474 -952474 -952474 25056677 2919779 0 22007461 1400000 3776276 2382246 165899 562805 326503 138234 197776 124738 1703508 202368 846479 791759 474691 441477 52610 214180 EVENT PRODUCTION COSTS 8343404 BRAND SUPPORT 1200000 MEMBERSHIP OUTREACH 119572 POSTAGE & DELIVERY 114931 142182 23721638 2360290 5427711 2383632 1933908 1838388 2002886 2001562 970734 170454 1030828 32293980 30334738 68334 79655 39115078 40809726 2696857 3846911 140496 138510 1090427 1843840 3927780 5829261 X 35187298 34980465 35187298 34980465 39115078 40809726 1335039 -1541872 0 X 0 1 X 1 0 0 1 0 485100 369773 115327 276997 244214 32783 1239465 356747 882718 1030828 INTERCOMPANY ACCOUNT PAYABLE TO NARAS 873416 INTERCOMPANY ACCOUNT PAYABLE TO LGCF -40461 ROYALTY PAYABLE TO NARAS 474691 INTERCOMPANY PAYABLE TO GRAMMY MUSEUM 223 INTERCOMPANY PAYABLE TO MUSICARES 73 RIGHT OF USE LONG TERM LIABILITY 535898 1843840 X 23514805 -1541872 -1541872 25056677 0 25056677 23721638 0 23721638 0 23721638 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, 2023 AND 2022, LARAS DID NOT RECORD ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. 1 LATIN GRAMMY CULTURAL FOUNDATION 3470 NW 82ND AVE SUITE 600 MIAMI FL 33122 464770436 501(C)(3) 1200000 0 GENERAL SUPPORT FOR OPERATIVE EXPENSES GRAMMY MUSEUM FOUNDATION 888 S FIGUEROA STREET SUITE 600 LOS ANGELES CA 90017 261447714 501(C)(3) 200000 0 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 0 X X X X X 1 0 0 MANUEL ABUD CEO 608369 0 200000 0 8322 0 27000 0 35945 0 879636 0 0 0 LUIS DOUSDEBES CAMPO 516137 0 2400 0 6822 0 26000 0 25574 0 576933 0 0 0 JAVIER AGUIRRE CFO 460156 0 2400 0 6564 0 26988 0 28719 0 524827 0 0 0 AIDA SCORZA VP AWARDS 389840 0 2400 0 15567 0 27000 0 13501 0 448308 0 0 0 GABRIEL ABAROA PRESIDENT EMERITUS 292215 0 0 0 18564 0 24000 0 35945 0 370724 0 0 0 IVELIESSE MALAVE VP OF COMMUNICATIONS 257637 0 2400 0 4237 0 26673 0 3568 0 294515 0 0 0 LAURA DERGAL VP OF MARKETING AND CONTENT 223307 0 2400 0 3867 0 27000 0 19874 0 276448 0 0 0 LIVYS CERNA SR. DIR. ARTIST/IND REL. (TO 8/22) 203824 0 0 0 173 0 10800 0 28081 0 242878 0 0 0 AYLEEN FIGUERAS SENIOR VP OF PRODUCTION 203868 0 2200 0 3800 0 12150 0 18474 0 240492 0 0 0 ADRIANO HAUBENTHAL SR. DIRECTOR PRODUCT MANAGEMENT 161561 0 1200 0 346 0 11854 0 35308 0 210269 0 0 0 ENRIQUE PEREZ HEAD OF PARTNERSHIPS & CLIENT SOLUTI 177839 0 1400 0 1250 0 2423 0 17835 0 200747 0 0 0 DAVINA ARYEH CMO (TO 4/22) 156860 0 0 0 1458 0 15305 0 11530 0 185153 0 0 0 MELANIE GALARCE SR. DIRECTOR OF PARTNERSHIPS 121595 0 1200 0 225 0 11638 0 35482 0 170140 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 LENGHT, PURCHASE OF BUSINESS CLASS TICKETS IS ALLOWED FOR C-OFFICERS, VICE PRESIDENTS 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. 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 LIVYS CERNA, DIRECTOR OF ARTIST RELATIONS, RECEIVED A SEVERANCE PAYMENT WHICH WAS PAID IN LUMP SUM OF $107,424 ON 09/16/2022. TERRY LICKONA FORMER TRUSTEE 81418 LARAS HIRED TERRY LICKONA TO CO-PRODUCE THE 23RD LATIN GRAMMY AWARDS. 0 DAVINA ARYEH KEY EMPLOYEE 51592 LARAS HIRED DAVINA, A KEY EMPLOYEE THROUGH 4/9/22, TO HELP AND ASSIST IN DEVELOPING AND SECURING POTENTIAL SPONSORSHIPS AND/OR OTHER BUSINESS OPPORTUNITIES. 0 FORM 990, PART VI, SECTION A, LINE 1A 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, CEO OF THE RECORDING ACADEMY AND CFO OF THE LATIN RECORDING ACADEMY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE 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 2023 ANNUAL BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 15A THE CEO'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 CEO AND ANY ANNUAL INCREASES FOR THE STAFF ARE DISCUSSED AND APPROVED BY THE FINANCE COMMITTEE. THE LAST DATE FOR THIS PROCESS OF REVIEW WAS TAKEN PLACE ON MARCH 2023. 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 600 MIAMI FL 33122 464770436 SCHOLARSHIPS, RESEARCH & PRESERVATION GRANTS AND EDUCATIONAL EVENTS 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