Clemente Soto Velez Cultural & Education Center Inc
- Assets
- $1.6m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 21
- Location
- New York, NY
- Founding
- 08/1998
- Data as of
- 08/2021
- EIN
- 13-3735337
Organization Overview
Clemente Soto Velez Cultural & Education Center Inc is located in New York, NY. The organization was established in 1998. According to its NTEE Classification (A60) the organization is classified as: Performing Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 08/2021, Clemente Soto Velez Cultural & Education Center Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clemente Soto Velez Cultural & Education Center 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 08/2021, Clemente Soto Velez Cultural & Education Center Inc generated $1.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $881.5k during the year ending 08/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CLEMENTE SOTO VELEZ CULTURAL AND EDUCATIONAL CENTER INC. THE CLEMENTE IS A PUERTO RICAN/ LATINO CULTURAL INSTITUTION THAT HAS DEMONSTRATED A BRAOD-MINDED CULTURAL VISION AND COLLABORATIVE PHILOSOHY, SEE SCHDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
ART/STUDIO/THEATER SPACE PROVIDE YEAR ROUND ADDORDABLE PERFORMING AND VISUAL ART SPACE AT SUBSIDIZED RATES TO OVER 100 LATINO AND MULTICULTURAL RESIDENT AND VISTING ARTISTS HOSTS LATINO AND MULTICULTURAL ORGANIZATIONS, PROGRAMS AND ART EXHIBITIONS, AND ALLOWS FOR ARTISTIC CO-OPERATION AMONG ARTISTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Goldstein Director | Trustee | 2 | $0 |
Patricia Parker Director/treasurer | OfficerTrustee | 2 | $0 |
Libertad Guerra Interim Chair | OfficerTrustee | 5 | $0 |
Elena Matinez Secretary | OfficerTrustee | 2 | $0 |
Helene Blieberg Interim Executive Director | Officer | 40 | $0 |
Linda Griggs Vice Chair | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $11,769 |
| Related organizations | $0 |
| Government grants | $253,413 |
| All other contributions, gifts, grants, and similar amounts not included above | $586,289 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $851,471 |
| Total Program Service Revenue | $757,001 |
| Investment income | $0 |
| 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 | $1,657,429 |
| 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 | $361,736 |
| Pension plan accruals and contributions | $2,077 |
| Other employee benefits | $20,526 |
| Payroll taxes | $27,819 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $43,559 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $45,524 |
| Advertising and promotion | $4,088 |
| Office expenses | $8,823 |
| Information technology | $5,213 |
| Royalties | $0 |
| Occupancy | $103,466 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $70,093 |
| All other expenses | $91,783 |
| Total functional expenses | $881,519 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,005,948 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $253,000 |
| Accounts receivable, net | $236,442 |
| 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 | $65,343 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,560,733 |
| Accounts payable and accrued expenses | $14,465 |
| 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 | $283,483 |
| Total liabilities | $297,948 |
| Net assets without donor restrictions | $1,262,785 |
| 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 | $1,560,733 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Clemente Soto Velez Cultural & Education Center Inc has recieved totaling $67,523.
| Awarding Organization | Amount |
|---|---|
Howard Gilman Foundation Inc New York, NY PURPOSE: FOUNDATION GRANT - GENERAL OPERATING SUPPORT | $35,000 |
Howard Gilman Foundation Inc New York, NY PURPOSE: FOUNDATION GRANT - CAPITAL/EQUIPMENT | $25,000 |
Claire And Theodore Morse Foundation Los Angeles, CA PURPOSE: GENERAL SUPPORT | $7,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $23 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kimmel Center Inc Philadelphia, PA | $245,953,445 | $41,081,924 |
Brooklyn Academy Of Music Inc Brooklyn, NY | $168,013,887 | $29,572,079 |
South Street Theater Co Inc Morristown, NJ | $25,009,095 | $16,372,684 |
Bric Arts Media Bklyn Inc Brooklyn, NY | $22,086,824 | $12,315,164 |
The Apollo Theater Foundation Inc New York, NY | $69,978,827 | $33,324,849 |
New Haven Center For Performing Arts Inc Waterbury, CT | $12,801,705 | $9,109,828 |
Performing Arts Consultants Inc Brick, NJ | $2,328,922 | $7,486,685 |
Shen Yun Performing Arts Inc Cuddebackville, NY | $196,627,077 | $30,836,971 |
Foundation For Contemporary Arts Inc New York, NY | $44,020,214 | $7,582,108 |
National Comedy Center Operator Inc Jamestown, NY | $24,581,570 | $2,926,105 |
World Trade Center Performing Arts Center Inc New York, NY | $505,865,812 | $148,493,145 |
Associated Production Services Inc Trevose, PA | $3,216,743 | $4,781,597 |