Hispanic Resources Inc
- Assets
- $1.6m
- Revenue
- $272.2k
- Investments
- $0.0
- Employees
- 0
- Location
- West Springfield, MA
- Founding
- 01/1988
- Data as of
- 06/2024
- EIN
- 04-2939018
Organization Overview
Hispanic Resources Inc is located in West Springfield, MA. The organization was established in 1988. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hispanic Resources Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2024, Hispanic Resources Inc generated $272.2k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $183.4k during the year ending 06/2024. While expenses have increased by 4.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
HISPANIC RESOURCES INC. (HRI) OWNS REAL PROPERTY WHICH IT LEASES TO NON PROFIT AGENCIES SERVING LOW INCOME PEOPLE. HRI ALSO PROVIDES EDUCATIONAL AND CONSULTATION RESOURCES AND FUNDRAISING AND RESEARCH ASSISTANCE TO HISPANICS AND NON-PROFIT AGENCIES SERVING HISPANICS AND LOW-INCOME PEOPLE IN THE HAMPDEN COUNTY AND HAMPSHIRE COUNTY AREAS OF MASSACHUSETTS TO PROMOTE HISPANIC SERVICES AND ISSUES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE LODGING/HALF WAY HOUSES FOR THE MENTALLY CHALLENGEDPRIMARILY IN THE HISPANIC COMMUNITY
LATINO BREAKFAST CLUB - TO PROVIDE EDUCATIONAL AND CONSULTATIONRESOURCES TO HISPANICS AND NON-PROFIT AGENCIES SERVING THEHISPANIC COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Henry East-Trou President | OfficerTrustee | 1 | $0 |
William Trudeau Director | Trustee | 1 | $0 |
Jeff Mcgeary Treasurer | OfficerTrustee | 1 | $0 |
Liliana Espada Secretary/clerk | OfficerTrustee | 1 | $0 |
Madaline Martinez Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,000 |
| Total Program Service Revenue | $265,501 |
| Investment income | $2,717 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $272,218 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,772 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $22,826 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,322 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $33,639 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $64,365 |
| Insurance | $34,490 |
| All other expenses | $0 |
| Total functional expenses | $183,414 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $583,074 |
| Savings and temporary cash investments | $152,604 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,400 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $880,096 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,618,174 |
| Accounts payable and accrued expenses | $8,000 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,010,185 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,000 |
| Total liabilities | $1,020,185 |
| Net assets without donor restrictions | $597,989 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,618,174 |