Queen Sofia Spanish Institute Inc
- Assets
- $26.7m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 5
- Location
- New York, NY
- Founding
- 08/1955
- Data as of
- 12/2023
- EIN
- 13-2548780
Organization Overview
Queen Sofia Spanish Institute Inc is located in New York, NY. The organization was established in 1955. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Queen Sofia Spanish Institute Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Queen Sofia Spanish Institute 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 12/2023, Queen Sofia Spanish Institute Inc generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 32.7% each year . All expenses for the organization totaled $1.2m during the year ending 12/2023. While expenses have increased by 8.4% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO FURTHER, IN THE UNITED STATES, AN INTEREST IN THE CULTURE, LANGUAGE, LITERATURE, ART, MUSIC, HISTORY AND CUSTOMS OF SPAIN AND ITS HERITAGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
QUEEN SOFIA SPANISH INSTITUTE, INC. IN MADRID:-SIGNING CEREMONY OF AGREEMENT BETWEEN THE GILDER LEHRMAN INSTITUTE OF AMERICAN HISTORY, QUEEN SOFA SPANISH INSTITUTE (QSSI), AND THE ROYAL ACADEMY OF HISTORY FOR THE LAUNCH OF THE EDUATIONAL APP, "QUIZSTORY," TO BENEFIT AMERICAN AND SPANISH SCHOOL CHILDREN. ALL MATERIALS ARE POSTED ON THE QSSI WEBSITE FOR PUBLIC ACCESS.- BOARD MEETINGQSSI IN HOUSTON-PRESENTATION OF THE BIOGRAPHICAL DICTIONARY (DB~E) O-CARMEN POSADAS INTERVIEW GIOCONDA BELLI - CARMEN POSADAS/JAVIER SIERRA INTERVIEW- JUNIOR COMMITTEE EVENTS
TRANSLATION PRIZE
PARTICIPATION IN REDISCOVER EL RETABLO DE MAESE PEDRO ON ITS CENTENARY:-CONCERT AT THE KENNEDY CENTER FOR THE PERFORMING ARTS (TERRACE THEATER)- THINKING THE WORLD IN SPANISH ACADEMIC PROGRAM LED BY THE CHAIR OF THE PRINCE OF ASTURIAS FOUNDATION-"A PANORAMA OF SPANISH MUSIC OF THE LAST 50 YEARS" CONCERT AT GEORGETOWN-CONFERENCES AND CONCERTS AT THE CULTURAL CENTER OF THE EMBASSY OF SPAIN IN WASHINGTON
CONTINUED PARTNERSHIP WITH GILDER LEHRMAN INSTITUTE OF AMERICAN HISTORY:- COLLABORATION EFFORTS WITH THE GILDER LEHRMAN INSTITUTE OF AMERICAN HISTORY TO DEVELOP AND DISSEMINATE RESOURCES AND MATERIALS ON THE CONTRIBUTIONS OF SPAIN TO U.S. HISTORY FROM THE 16TH CENTURY TO 1848. THIS SUBSTANTIAL AND UNIQUE PROJECT WILL ALLOW THE QSSI TO REACH THE GLI'S NETWORK OF 58,000 TEACHERS AND 3,000,000 STUDENTS THROUGHOUT 31,000 SCHOOLS NATIONWIDE. -CREATION AND DISTRIBUTION OF 6,000 POSTER SETS REFLECTING THE CONTRIBUTION OF SPAIN TO THE INDEPENDENCE OF THE UNITED STATES.-DISTRIBUTION OF QUIZSTORY: SPANISH FRIENDSHIP APP THROUGH GLI ABOVE NETWORK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pilar Llado Arburua Chair Of The Board Of Directors | OfficerTrustee | 10 | $0 |
Jose Pepe Fanjul Vice-Chair | OfficerTrustee | 20 | $0 |
Patrice Degnan President & CEO | OfficerTrustee | 20 | $0 |
Joan Trant Treasurer | OfficerTrustee | 20 | $0 |
Gabriel Cooperman Secretary | OfficerTrustee | 2 | $0 |
Maria Begonia Santos Executive Director & COO | OfficerTrustee | 40 | $205,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $467,630 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $53,023 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $520,653 |
| Total Program Service Revenue | $0 |
| Investment income | $869,452 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $94,945 |
| Net Income from Fundraising Events | $10,178 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,495,228 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| Grants and other assistance to domestic individuals. | $10,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $272,496 |
| Compensation of current officers, directors, key employees. | $16,056 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $254,122 |
| Pension plan accruals and contributions | $22,621 |
| Other employee benefits | $92,631 |
| Payroll taxes | $32,231 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $36,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $123,573 |
| Fees for services: Other | $67,155 |
| Advertising and promotion | $0 |
| Office expenses | $2,766 |
| Information technology | $14,261 |
| Royalties | $0 |
| Occupancy | $35,316 |
| Travel | $9,230 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,685 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,447 |
| All other expenses | $505 |
| Total functional expenses | $1,234,638 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $63,775 |
| Savings and temporary cash investments | $22,786 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,574 |
| 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 | $24,717 |
| Net Land, buildings, and equipment | $20,000 |
| Investments—publicly traded securities | $26,577,946 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $26,713,798 |
| Accounts payable and accrued expenses | $44,575 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $44,575 |
| Net assets without donor restrictions | $26,669,223 |
| 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 | $26,713,798 |
Grants Awarded
Over the last fiscal year, Queen Sofia Spanish Institute Inc has awarded $33,300 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
HISPANIC SOCIETY OF AMERICA PURPOSE: GENERAL SUPPORT | $13,300 |
BRILLA PUBLIC CHARTER SCHOOLS PURPOSE: GENERAL SUPPORT | $10,000 |
SAINT RITA DE CASCIA PARISH PURPOSE: GENERAL SUPPORT | $10,000 |