Nueva Esperanza
- Assets
- $25.3m
- Revenue
- $11.9m
- Investments
- $0.0
- Employees
- 111
- Location
- Philadelphia, PA
- Founding
- 05/1989
- Data as of
- 06/2022
- EIN
- 23-2552707
Organization Overview
Nueva Esperanza is located in Philadelphia, PA. The organization was established in 1989. According to its NTEE Classification (J22) the organization is classified as: Job Training, under the broad grouping of Employment and related organizations. As of 06/2022, Nueva Esperanza employed 111 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nueva Esperanza 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 06/2022, Nueva Esperanza generated $11.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $10.1m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Nueva Esperanza has awarded 161 individual grants totaling $7,625,137. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ORGANIZATION DEVELOPMENT, HIGHER EDUCATION, COORDINATION OF NATIONAL PROGRAMS AND CAPACITY BUILDING OF HISPANIC FAITH AND COMMUNITY BASED ORGANIZATIONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION - ESPERANZA COLLEGE, A BRANCH CAMPUS OF EASTERN UNIVERSITY, IS THE ONLY HISPANIC SERVING INSTITUTION (HSI) IN PA AND THE ONLY PROGRAM OF ITS KIND IN THE COUNTRY WHERE STUDENTS STUDY IN SPANISH, WHILE LEARNING ENGLISH. UPON EARNING THEIR ASSOCIATE DEGREES, STUDENTS ARE PREPARED TO TRANSFER TO FOUR-YEAR COLLEGES AND UNIVERSITIES.
EMPLOYEE TRAINING
NATIONAL - ESPERANZA WORKS PARTIALLY AS AN INTERMEDIARY BETWEEN GOVERNMENT AGENCIES AND HISPANIC FAITH AND COMMUNITY-BASED ORGANIZATIONS. TOGETHER WITH OVER 10,000 HISPANIC CHURCHES AND ORGANIZATIONS, ESPERANZA HAS EMERGED AS A LEADING VOICE FOR HISPANICS OF FAITH IN THE NATION. ESPERANZA HAS SEVERAL NATIONAL INITIATIVES THAT CONTINUE THE WORK OF NUEVA ESPERANZA, INC. ON A NATIONAL SCALE, SERVING THE NEEDS OF THE HISPANIC COMMUNITY AS WELL AS STRENGTHENING THE WORK OF HISPANIC FAITH-BASED ORGANIZATIONS.
IMPACTO ADS - ESPERANZA PROVIDES THE HISPANIC COMMUNITY WITH RELEVANT INFORMATION AND CONTENT TO PROMOTE COMMUNITY CULTURAL, EDUCATIONAL, AND ECONOMIC GROWTH.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
The Rev Luis A Cortes Jr President & CEO | OfficerTrustee | 26 | $344,391 |
Rev Danny Cortes Executive Vp/chief Of Staff | Officer | 28 | $230,335 |
Walter Toliver Senior Vp/general Council | 30 | $167,170 | |
William Rhodes Sr. Vp-Esperanza Arts Center | 40 | $122,534 | |
Marilyn Marsh Exec. Dean - Esperanza College | 40 | $100,332 | |
Judith Torres - Lynch Chair - Member | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $22 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,438,873 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,192,644 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,631,539 |
| Total Program Service Revenue | $5,904,551 |
| Investment income | $10,291 |
| 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 | $11,856,124 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,223,491 |
| 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. | $714,757 |
| Compensation of current officers, directors, key employees. | $714,757 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,047,140 |
| Pension plan accruals and contributions | $20,581 |
| Other employee benefits | $483,244 |
| Payroll taxes | $255,114 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $527 |
| Fees for services: Accounting | $103,113 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $31,500 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $886,212 |
| Advertising and promotion | $0 |
| Office expenses | $420,336 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,148,497 |
| Travel | $14,095 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $63,361 |
| Interest | $20,515 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $156,996 |
| Insurance | $55,860 |
| All other expenses | $0 |
| Total functional expenses | $10,142,179 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,402,333 |
| Savings and temporary cash investments | $7,629,216 |
| Pledges and grants receivable | $359,163 |
| Accounts receivable, net | $1,135,625 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,318,110 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $80,753 |
| Net Land, buildings, and equipment | $2,603,297 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $100,000 |
| Other assets | $9,669,678 |
| Total assets | $25,298,175 |
| Accounts payable and accrued expenses | $542,962 |
| 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 | $1,637,123 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,069,275 |
| Total liabilities | $9,249,360 |
| Net assets without donor restrictions | $10,666,635 |
| Net assets with donor restrictions | $5,382,180 |
| 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 | $25,298,175 |
Grants Awarded
Over the last fiscal year, Nueva Esperanza has awarded $417,915 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
CENTRO FAMILIA NUEVA ESPERANZA PURPOSE: HOUSING COUNSELING | $35,752 |
ABLE WORKS PURPOSE: HOUSING COUNSELING | $16,314 |
NEWSED COMMUNITY DEVELOPMENT CORPORATION INC PURPOSE: HOUSING COUNSELING | $66,831 |
DETROIT HISPANIC DEVELOPMENT CORPORATION PURPOSE: HOUSING COUNSELING | $37,346 |
MORNINGSTAR URBAN DEVELOPMENT INC PURPOSE: Housing Counseling | $35,745 |
GREATER SOUTHWEST DEVELOPMENT CORPORATION PURPOSE: HOUSING COUNSELING | $36,696 |