Spanish Benevolent Society- La Nacional
- Assets
- $93.5k
- Revenue
- $141.0k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 09/1950
- Data as of
- 12/2022
- EIN
- 13-5540230
Organization Overview
Spanish Benevolent Society- La Nacional, operating under the name La Nacional, is located in New York, NY. The organization was established in 1950. According to its NTEE Classification (P84) the organization is classified as: Ethnic & Immigrant Centers, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. LA Nacional is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, LA Nacional generated $141.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (9.2%) each year. All expenses for the organization totaled $193.6k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (4.8%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE CORPORATION IS TO PROMOTE, ENCOURAGE AND SPREAD THE SPIRIT OF FRATERNITY AMONG SPANISH AND HISPANIC-AMERICAN RESIDENTS OF THE UNITED STATES. THE CORPORATION'S ACTIVITIES AIM TO EDUCATE THE PUBLIC ABOUT SPANISH AND HISPANIC CULTURE AND THE HISTORY OF THE IMMIGRATION OF SPANISH-SPEAKING PEOPLE TO THE UNITED STATES, AND SUPPORT THE ARTS IN NEW YORK CITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSES FOR WHICH THE CORPORATION IS TO BE FORMED ARE TO EDUCATE THE PUBLIC AND RELIEVE THE POOR BY (I) CONDUCTING AND PARTICIPATING IN SPANISH AND HISPANIC CULTURAL EVENTS, (II) MAINTAINING A PUBLIC LIBRARY AND HISTORIC ARCHIVE ABOUT SPANISH HISTORY, CULTURE, ANCESTRY, AND IMMIGRATION IN THE UNITED STATES AND THE HISTORY OF THE CORPORATION, (III) PROVIDING LOW-COST HOUSING AND FOOD TO ARTISTS-IN-RESIDENCE, LOW-INCOME AND IN-NEED INDIVIDUALS, STUDENTS AND INTERNS AND (IV) PROVIDING FREE AND/OR SUBSIDIZED RENTALS OF OUR EVENT SPACE TO CULTURAL, CHARITABLE, NON-PROFIT, AND BENEVOLENT CAUSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Antonio Morales President | OfficerTrustee | 16 | $0 |
Maximino Vazquez Vice President | OfficerTrustee | 4 | $0 |
Francisco Santamaria Board Member | Trustee | 4 | $0 |
Ramon Abajo Treasurer | OfficerTrustee | 4 | $0 |
Alejandro Ibanez Board Member | Trustee | 4 | $0 |
Sandra Martinetto Board Member | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,367 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,367 |
| Total Program Service Revenue | $135,677 |
| 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 | $141,044 |
| 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. | $31,695 |
| 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 | $2,904 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $26,593 |
| Advertising and promotion | $0 |
| Office expenses | $6,223 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,376 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,668 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $22,668 |
| All other expenses | $0 |
| Total functional expenses | $193,609 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $93,527 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $93,527 |
| Accounts payable and accrued expenses | $0 |
| 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 | $70,263 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $70,263 |
| Net assets without donor restrictions | $23,264 |
| 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 | $93,527 |