Clemente Soto Velez Cultural & Education Center Inc
- Assets
- $5.8m
- Revenue
- $5.2m
- Investments
- $0.0
- Employees
- 13
- Location
- New York, NY
- Founding
- 08/1998
- Data as of
- 08/2023
- 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 08/2023, Clemente Soto Velez Cultural & Education Center Inc employed 13 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 08/2023, Clemente Soto Velez Cultural & Education Center Inc generated $5.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 27.0% each year . All expenses for the organization totaled $1.4m during the year ending 08/2023. While expenses have increased by 10.1% 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
WHILE THE CLEMENTES MISSION IS FOCUSED ON THE CULTIVATION , PRESENTATION, AND PRESERVATION OF PUERTO RICAN AND LATINO CULTURE, IT IS EQUALLY DETERMINED TO OPERATE IN A MULTICULTURAL AND INCLUSIVE MANNER, HOUSING AND PROMOTING ARTISTS AND PERFORMANCE EVENTS THAT FULLY REFLECT THE CULTURAL DIVERSITY OF LOWER EAST SIDE AND THE CITY AS A WHOLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLEMENTE SOTO VELEZ CULTURAL & EDUCATIONAL CENTER (THE ORGANIZATION, WE, US, OUR) IS A NONPROFIT INCORPORATED IN 1993 UNDER NOT-FOR-PROFIT CORPORATION LAWS OF THE STATE OF NEW YORK FOR CHARITABLE PURPOSES WITHIN THE MEANING OF SECTION 501 (C) (3) OF THE INTERNAL REVENUE CODE OF 1954. THE ORGANIZATION'S MISSION IS FOCUSED ON THE CULTIVATION, PRESENTATION AND PRESERVATION OF PUERTO RICAN/LATINO CULTURE AND IS EQUALLY DETERMINED TO OPERATE IN A MULTI-CULTURAL AND INCLUSIVE MANNER, HOUSING AND PROMOTING ARTISTS AND PERFORMANCE EVENTS THAT FULLY REFLECT THE CULTURAL DIVERSITY OF THE LOWER EAST SIDE OF MANHATTAN, NEW YORK, AND THE CITY OF NEW YORK AS A WHOLE. THE ORGANIZATION PROVIDES SUBSIDIZED ARTIST STUDIOS AND OFFICE SPACE FOR NUMEROUS VISUAL ARTISTS AND NONPROFIT ART ORGANIZATIONS, AN EXTERNAL REVIEW PANEL AND A FULL SCHEDULE OF EXHIBITION AND RELATED ACTIVITIES, AND FOR BUILDING ACTIVITIES, AND FOR BUILDING COMMUNITY THROUGH THE ARTS, WHICH OFFERS SUBSIDIZED PERFORMANCE AND REHEARSAL SPACE TO NON PROFIT ARTS ORGANIZATIONS ACROSS THE CITY. IN ADDITION TO ITS THEATERS, THE ORGANIZATION ALSO PROVIDES SHORT-TERM RENTALS OF THE PARKING LOT AND OTHER AREAS THROUGHOUT THE BUILDING FOR ARTISTIC PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Libertad Guerra Executive Di | Officer | 40 | $119,619 |
Ana Chireno Board Member | Trustee | 2 | $0 |
Guido Hartray Board Member | Trustee | 2 | $0 |
Richard Morales Secretary | OfficerTrustee | 2 | $0 |
Urayoan Noel Vice Chair | OfficerTrustee | 2 | $0 |
Annya Ramirez-Jimenez Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $298,319 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,104,608 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,402,927 |
| Total Program Service Revenue | $763,777 |
| 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 | $5,170,206 |
| 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. | $123,500 |
| Compensation of current officers, directors, key employees. | $37,050 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $477,877 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $37,107 |
| Payroll taxes | $54,957 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $49,084 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $139,553 |
| Advertising and promotion | $0 |
| Office expenses | $67,700 |
| Information technology | $16,155 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,013 |
| 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 | $19,292 |
| Insurance | $85,960 |
| All other expenses | $12,299 |
| Total functional expenses | $1,419,788 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,353,354 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $68,914 |
| Accounts receivable, net | $2,090,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $64,373 |
| Inventories for sale or use | $2,435 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $267,154 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,846,230 |
| Accounts payable and accrued expenses | $82,335 |
| Grants payable | $0 |
| Deferred revenue | $16,500 |
| 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 | $196,099 |
| Total liabilities | $294,934 |
| Net assets without donor restrictions | $2,191,471 |
| Net assets with donor restrictions | $3,359,825 |
| 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 | $5,846,230 |