Instituto Cervantes Usa Inc
- Assets
- $12.5m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 59
- Location
- New York, NY
- Founding
- 03/1995
- Data as of
- 12/2021
- EIN
- 13-3800869
Organization Overview
Instituto Cervantes Usa Inc is located in New York, NY. The organization was established in 1995. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Instituto Cervantes USA Inc employed 59 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Instituto Cervantes USA 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 12/2021, Instituto Cervantes USA Inc generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.3%) each year. All expenses for the organization totaled $2.3m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.0%) per year over the past 7 years. 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
PROMOTING SPANISH CULTURE
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORGANIZED CENTER FOR TEACHING & STUDY.,SPONSORED & CONDUCTED CULTURAL ACTIVITIES.PUBLISHED & DISTRIBUTED TEACHING MATERIALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Bueno Director | Officer | 40 | $0 |
Ana Ramirez Secretary | Officer | 0 | $0 |
Maria Claudia Montehermoso Treasurer | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $270,650 |
| All other contributions, gifts, grants, and similar amounts not included above | $30,966 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $301,616 |
| Total Program Service Revenue | $1,263,175 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $26,849 |
| 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 | $1,591,640 |
| 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 | $883,131 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $78,881 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,186 |
| Fees for services: Accounting | $64,876 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $58,170 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $600 |
| Interest | $11 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $541,041 |
| Insurance | $0 |
| All other expenses | $295,799 |
| Total functional expenses | $2,262,426 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $663,627 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,162 |
| 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 | $35,746 |
| Net Land, buildings, and equipment | $11,556,967 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $235,555 |
| Total assets | $12,513,057 |
| Accounts payable and accrued expenses | $42,871 |
| Grants payable | $0 |
| Deferred revenue | $151,705 |
| 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 | $194,576 |
| Net assets without donor restrictions | $12,318,481 |
| 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 | $12,513,057 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Instituto Cervantes Usa Inc has recieved totaling $150.
| Awarding Organization | Amount |
|---|---|
Levenger Foundation Inc Delray Beach, FL PURPOSE: TO SUPPORT THE MISSION OF THE ORGANIZATION. | $75 |
Levenger Foundation Inc Delray Beach, FL PURPOSE: TO SUPPORT THE MISSION OF THE ORGANIZATION. | $75 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Minority Supplier Development Council Inc New York, NY | $14,151,024 | $19,123,388 |
All Stars Project Inc New York, NY | $22,721,562 | $11,310,796 |
The Hyams Foundation Inc Boston, MA | $163,844,341 | $20,347,329 |
Neighborhood Trust Financial Partners Inc New York, NY | $10,875,094 | $7,150,796 |
African Services Committee Inc New York, NY | $2,169,110 | $5,702,295 |
Urban Arts Partnership New York, NY | $4,790,105 | $5,921,037 |
Artpark & Company Inc Lewiston, NY | $3,327,523 | $5,321,157 |
Education Through Music Inc New York, NY | $3,082,173 | $4,504,496 |
Ridgefield Playhouse For Movies And The Performing Arts Inc Ridgefield, CT | $15,840,106 | $10,052,125 |
City Access New York Staten Island, NY | $3,686,366 | $4,897,308 |
American Friends Of Yagdil Torah Inc Lakewood, NJ | $434,654 | $3,850,627 |
International Society Of Aesthetic Plastic Surgery Mount Royal, NJ | $7,345,668 | $3,633,051 |