Somos Inc
- Assets
- $87.8k
- Revenue
- $186.0k
- Investments
- $0.0
- Employees
- 2
- Location
- Troy, NY
- Founding
- 02/1993
- Data as of
- 06/2021
- EIN
- 22-3128393
Organization Overview
Somos Inc is located in Troy, NY. The organization was established in 1993. According to its NTEE Classification (P84) the organization is classified as: Ethnic & Immigrant Centers, under the broad grouping of Human Services and related organizations. As of 06/2021, Somos Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Somos 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 06/2021, Somos Inc generated $186.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (23.6%) each year. All expenses for the organization totaled $206.4k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (20.4%) per year over the past 6 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
SOMOS, INC. IS A NONPARTISAN NONPROFIT 501(C)3 ORGANIZATION COMMITTED TO ADDRESSING THE NEEDS OF THE HISPANIC POPULATION OF NEW YORK STATE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR CONFERENCES, HELD TWICE YEARLY, SERVE AS A PLATFORM FOR LEGISLATORS, SCHOLARS, BUSINESS AND LABOR LEADERS TO ADDRESS VARIOUS CONCERNS PERTINENT TO THIS COMMUNIT. THOUGHT-PROVOKING WORKSHOPS ON KEY ISSUES, SUCH AS BUSINESS DEVELOPMENT, HEALTH, AND EDUCATION, RECRUIT SUPPORT ON NEW AND EXISTING LEGISLATION AIMED TO ADDRESS THE NEEDS OF THE HISPANIC POPULATION OF NEW YORK. ADDITIONALLY, SOMOS, INC. USES THE FUNDS COLLECTED THROUGH CONFERENCES TO EMPOWER YOUTHS WITH ACADEMIC FINANCIAL AWARDS THAT ENCOURAGE FURTHERING THEIR EDUCATION, COLLEGE INTERNSHIPS TO PROMOTE RETENTIONAND APPRENTICESHIPS TO INTRODUCE NEWLY GRADUATED ADULTS INTO THE PUBLIC, NONPROFIT, LABOR AND PRIVATE SECTORS. THE ORGANIZATION AIMS TO CREATE OPPORTUNITIES FOR HISPANIC YOUTH THAT WILL FACILITATE THEIR PROFESSIONAL DEVELOPMENT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carmen Flores Second Vice Chair | OfficerTrustee | 1 | $0 |
Francisco Diaz Chairman (beg 9/2020) | OfficerTrustee | 1 | $0 |
Larry Fernandez Finance Chair | OfficerTrustee | 1 | $0 |
Ladan Alomar Treasurer | OfficerTrustee | 1 | $0 |
Miriam Gonzales Board Member (until 12/2020) | OfficerTrustee | 1 | $0 |
Mike Nieves Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $24,156 |
| All other contributions, gifts, grants, and similar amounts not included above | $161,814 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $185,970 |
| Total Program Service Revenue | $0 |
| 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 | $185,970 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $62,997 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,065 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $25,000 |
| Advertising and promotion | $0 |
| Office expenses | $4,577 |
| Information technology | $12,420 |
| Royalties | $0 |
| Occupancy | $6,491 |
| Travel | $915 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $51,590 |
| Interest | $376 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,071 |
| All other expenses | $0 |
| Total functional expenses | $206,439 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $83,617 |
| 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 | $3,129 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,100 |
| Total assets | $87,846 |
| Accounts payable and accrued expenses | $17,740 |
| 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 | $23,995 |
| Other liabilities | $0 |
| Total liabilities | $41,735 |
| Net assets without donor restrictions | $46,111 |
| 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 | $87,846 |
Grants Awarded
Over the last fiscal year, Somos Inc has awarded $74,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
COMUNIDAD ORGANIZADA DE PUENTE BLANCO INC PURPOSE: COMPUTER AND EDUCATIONAL SUPPLIES | $25,000 |
COMUNIDAD ORGANIZADA DE PUENTE BLANCO INC PURPOSE: COMPUTER AND EDUCATIONAL SUPPLIES | $25,000 |
MADERAS 3C PURPOSE: BUILDING A CHILDREN PLAYGROUND | $12,000 |
MADERAS 3C PURPOSE: BUILDING A CHILDREN PLAYGROUND | $12,000 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Somos Inc has recieved totaling $106,021.
| Awarding Organization | Amount |
|---|---|
New York Yankees Foundation Inc Bronx, NY PURPOSE: GENERAL SUPPORT | $50,000 |
Somos Healthcare Providers Inc Bronx, NY PURPOSE: SOMOS PUERTO RICO CONFERENCE | $35,000 |
Transport Workers Union Of America Brooklyn, NY PURPOSE: FINANCIAL SUPPORT | $15,000 |
Aarp Washington, DC PURPOSE: Sponsorship of conference | $6,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $21 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Croatian Fraternal Union Of America Pittsburgh, PA | $510,702,838 | $49,525,633 |
Chinese American Planning Council Inc New York, NY | $44,040,107 | $50,081,014 |
Asociacion Puertorriquenos En Marcha Inc Philadelphia, PA | $27,252,719 | $29,564,021 |
Brooklyn Chinese-American Association Inc Brooklyn, NY | $16,442,074 | $13,631,534 |
Nationalities Service Center Of Philadelphia Philadelphia, PA | $6,008,905 | $13,342,474 |
Junta De Accion Puertorriquena Inc Puerto Rican Action Board Inc New Brunswick, NJ | $2,505,820 | $11,202,004 |
Lch Health And Community Services Kennett Square, PA | $6,724,367 | $8,909,074 |
Mid-Island Y Jewish Community Center Inc Plainview, NY | $9,808,281 | $10,961,733 |
Puerto Rican Org For Community Educational & Economic Development Elizabeth, NJ | $11,237,037 | $9,797,068 |
Rian Immigrant Center Inc Boston, MA | $3,539,791 | $6,977,812 |
Chinese Christian Herald Crusades Inc Flushing, NY | $34,224,401 | $8,882,723 |
Korean Community Services Of Metropolitan New York Inc Bayside, NY | $13,398,422 | $7,508,888 |