2024-12-12T04:29:22-06:00 2024-01-31 861065772 DELOITTE TAX LLP 695 TOWN CENTER DRIVE SUITE 1000 COSTA MESA CA 92626 990 2023-02-01 464770436 LATIN GRAMMY CULTURAL FOUNDATION LATI 3055760036 3470 NW 82ND AVENUE 600 DORAL FL 33122 RAQUEL EGUSQUIZA EXECUTIVE DIRECTOR 3055760036 2024-12-11 1 0 JESSICA KARANTONIS P00969387 7144367100 2023 2024-10-15 13:58:12Z RAQUEL EGUSQUIZA 3470 NW 82ND AVENUE 600 DORAL FL 33122 2793711 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 10 7 0 0 2308753 2647573 37500 146138 0 0 0 0 2346253 2793711 850633 879447 0 0 824235 1270793 0 0 417911 606895 784023 2281763 2934263 64490 -140552 2959967 3390938 1655812 1887874 1304155 1503064 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 1329188 786357 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. 741313 74964 146138 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. 295833 19989 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. 2366334 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 22 0 1 10 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 AVE SUITE 600 DORAL FL 33122 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 40.00 0.00 X 290093 0 48458 REBECCA VILLAESCUSA VP, DEVELOPMENT AND IND PARTNERSHIPS 40.00 0.00 X 254786 0 37948 NANNETTE VELEZ MANAGING DIRECTOR OF PROGRAMS 40.00 0.00 X 119463 0 36921 664342 0 123327 3 0 1 0 0 1527050 1120523 13960 2647573 HOUSE CONCERTS 711300 146138 146138 146138 2793711 146138 0 0 72453 72453 57081 57081 749913 749913 669750 507816 14775 147159 363568 297697 16428 49443 20165 16990 1015 2160 154448 117708 4861 31879 62862 49501 2344 11017 3770 3770 24045 24045 280677 202276 24831 53570 7310 48 6168 1094 77344 63850 4910 8584 112259 83808 6242 22209 4629 4629 EVENT PRODUCTION COSTS 147193 147193 FUNDRAISING EXPENSES 71996 71996 GRAMMY AND POTY TICKETS 54800 36000 18800 2934263 2366334 150018 417911 2407283 1695346 314528 405852 135177 1187761 102979 101979 2959967 3390938 254830 428030 1273571 1225908 24000 98000 103411 135936 1655812 1887874 X 929155 938603 375000 564461 1304155 1503064 2959967 3390938 X -140552 339461 X 0 1 X 1 0 X 2110438 1799972 1931972 2308753 2647573 10798708 2110438 1799972 1931972 2308753 2647573 10798708 7571848 3226860 0 0 0 0 0 10798708 537303 0.29880 0.29610 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 DIGITAL CAMPAIGNS UTILIZING ONLINE DONATION TOOLS SUCH AS FACEBOOK. WE ALSO ENGAGED IN A QR CODE DONATION REQUEST DURING THE LATIN GRAMMY TELECAST FOR THE FOUNDATION AND AT OUR SCHOLARSHIP CEREMONY. THE ORGANIZATION ALSO ENGAGED IN A CALL TO ACTION TO LARAS BOARD MEMBERS TO REQUEST DONATIONS. LAST YEAR, THE ORGANIZATION WAS SUCCESSFUL IN SECURING A PARTNERSHIP WITH JPMORGAN CHASE TO SPONSOR MULTIPLE EDUCATION PROGRAMS THROUGHOUT THE YEAR TOTALING $290,000, AND WE WERE ABLE TO SECURE DONATIONS FROM TIKTOK, TITO'S VODKA, AND FIRST HORIZON BANK.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 & NARAS 135936 135936 X 2943711 150000 150000 2793711 0 2793711 2934263 0 2934263 0 2934263 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 AN ENTITY HAS TAKEN, OR EXPECTS TO TAKE, ON A TAX RETURN. DURING THE YEARS ENDED JANUARY 31, 2024 AND 2023, LGCF DID NOT RECORD ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. PART XI, LINE 2D - OTHER ADJUSTMENTS: NET ASSETS RELEASED FROM RESTRICTIONS 150,000. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 GRANT-MAKING 307231 EAST ASIA AND THE PACIFIC 0 0 GRANT-MAKING 20000 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANT-MAKING 34986 NORTH AMERICA 0 0 GRANT-MAKING 30000 SOUTH AMERICA 0 0 GRANT-MAKING 455757 0 0 0 0 0 0 847974 0 847974 SOUTH AMERICA MUSICAL INSTRUMENTS FOR THEIR MUSIC PROGRAM 0 7500 MUSICAL INSTRUMENTS BOOK 0 1 SCHOLARSHIP (PRODIGY, GIFTED, TUITION) CENTRAL AMERICA AND THE CARIBBEAN 7 307231 ELECTRONIC FUND/WIRE TRANSFER SCHOLARSHIP (PRODIGY, GIFTED, TUITION) EAST ASIA AND THE PACIFIC 2 20000 ELECTRONIC FUND/WIRE TRANSFER SCHOLARSHIP (PRODIGY, GIFTED, TUITION) EUROPE (INCLUDING ICELAND & GREENLAND) 6 34986 ELECTRONIC FUND/WIRE TRANSFER SCHOLARSHIP (PRODIGY, GIFTED, TUITION) NORTH AMERICA 8 20746 ELECTRONIC FUND/WIRE TRANSFER SCHOLARSHIP (PRODIGY, GIFTED, TUITION) SOUTH AMERICA 39 361313 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. 1 OVERTON HIGH SCHOOL 1770 LANIER LN MEMPHIS TN 38117 626000834 GOVERNMENT ENTITY 0 19974 BOOK MUSICAL INSTRUMENTS MUSICAL INSTRUMENTS FOR THEIR MUSIC PROGRAM JC HARMON HIGH SCHOOL 2400 STEELE RD KANSAS CITY KS 66106 486031181 GOVERNMENT ENTITY 0 19990 BOOK MUSICAL INSTRUMENTS MUSICAL INSTRUMENTS FOR THEIR MUSIC PROGRAM SIDNEY LANIER HIGH SCHOOL 1514 W CESAR E CHAVEZ BLVD SAN ANTONIO TX 78207 746002167 GOVERNMENT ENTITY 0 20000 BOOK MUSICAL INSTRUMENTS MUSICAL INSTRUMENTS FOR THEIR MUSIC PROGRAM ESCUELA LIBRE DE MUSICA ANTONIO S PAOLI 49 C ACOSTA CAGUAS RQ 00725 660559857 GOVERNMENT ENTITY 0 7500 BOOK MUSICAL INSTRUMENTS MUSICAL INSTRUMENTS FOR THEIR MUSIC PROGRAM 4 0 SCHOLARSHIP (PRODIGY) 1 4475 SCHOLARSHIP (TUITION) 7 37606 MUSIC RESEARCH & PRESERVATION GRANTS 3 15000 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 0 0 0 0 0 0 0 0 0 RAQUEL EGUSQUIZA EXECUTIVE DIRECTOR 266785 0 19066 0 4242 0 17915 0 30543 0 338551 0 0 0 REBECCA VILLAESCUSA VP, DEVELOPMENT AND IND PARTNERSHIPS 251149 0 2400 0 1237 0 15340 0 22608 0 292734 0 0 0 NANNETTE VELEZ MANAGING DIRECTOR OF PROGRAMS 118024 0 1200 0 239 0 1407 0 35514 0 156384 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 B, LINE 11B THE FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR AND CFO. 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 2024. 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: TIME-RESTRICTED SCHOLARSHIP PROGRAM INCOME 339,461. 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 1527050 CASH