Nueva Esperanza
- Assets
- $22.0m
- Revenue
- $12.2m
- Investments
- $0.0
- Employees
- 105
- Location
- Philadelphia, PA
- Founding
- 05/1989
- Data as of
- 06/2021
- 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 06/2021, Nueva Esperanza employed 105 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 06/2021, Nueva Esperanza generated $12.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $8.5m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Nueva Esperanza has awarded 169 individual grants totaling $7,849,254. 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
2021
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.
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.
EMPLOYMENT TRAINING
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Reverend Luis Cortes Jr President & CEO | OfficerTrustee | 40 | $265,199 |
Reverend Danny Cortes Executive Vp/chief Of Staff | Officer | 40 | $227,910 |
Walter Toliver SVP & General Council | 40 | $168,467 | |
William R Rhoads Senior Vice President | 40 | $125,055 | |
Andrew Laskowski Senior VP Of Finance | 40 | $116,590 | |
Reverend Bonnie Camarda Board Vice Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $1,955 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $122,415 |
| Government grants | $2,536,175 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,805,369 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,465,914 |
| Total Program Service Revenue | $5,540,604 |
| Investment income | $5,220 |
| 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 | $12,218,705 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $928,600 |
| 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. | $772,032 |
| Compensation of current officers, directors, key employees. | $772,032 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,887,401 |
| Pension plan accruals and contributions | $17,976 |
| Other employee benefits | $521,997 |
| Payroll taxes | $250,465 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,425 |
| Fees for services: Accounting | $94,230 |
| Fees for services: Lobbying | $50,914 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $364,164 |
| Advertising and promotion | $0 |
| Office expenses | $495,539 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,054,089 |
| Travel | $1,183 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,509 |
| Interest | $23,855 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $151,823 |
| Insurance | $36,988 |
| All other expenses | $0 |
| Total functional expenses | $8,471,132 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,827,592 |
| Savings and temporary cash investments | $6,987,755 |
| Pledges and grants receivable | $257,006 |
| Accounts receivable, net | $912,391 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,272,675 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $30,252 |
| Net Land, buildings, and equipment | $2,657,400 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $100,000 |
| Other assets | $5,987,193 |
| Total assets | $22,032,264 |
| Accounts payable and accrued expenses | $578,860 |
| 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 | $1,463,426 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,652,730 |
| Total liabilities | $7,695,016 |
| Net assets without donor restrictions | $9,100,728 |
| Net assets with donor restrictions | $5,236,520 |
| 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 | $22,032,264 |
Grants Awarded
Over the last fiscal year, Nueva Esperanza has awarded $498,191 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
HOUSING AND FAMILY SERVICES OF GREATER NEW YORK IN PURPOSE: Housing Counseling | $98,993 |
MORNINGSTAR UBAN DEVELOPMENT INC PURPOSE: Housing Counseling | $78,524 |
San Francisco, CA PURPOSE: Housing Counseling | $64,117 |
Detroit, MI PURPOSE: Housing Counseling | $54,348 |
Denver, CO PURPOSE: Housing Counseling | $53,161 |
Chicago, IL PURPOSE: Housing Counseling | $44,309 |
Grants Recieved
Over the last fiscal year, we have identified 16 grants that Nueva Esperanza has recieved totaling $1,026,731.
| Awarding Organization | Amount |
|---|---|
Rockefeller Foundation New York, NY PURPOSE: IN SUPPORT OF ACTIVITIES TO EMPOWER FAITH-BASED COMMUNITIES TO UNDERSTAND THE BENEFITS OF, AND ENGAGE IN CRITICAL DIALOGUE AND ACTION RELATED TO, SYSTEMS THAT HELP ADDRESS POVERTY, INCLUDING THE EITC AND CTC TAX CREDITS. | $350,000 |
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $168,957 |
The Blackbaud Giving Fund Charleston, SC PURPOSE: GENERAL SUPPORT | $134,287 |
The Blackbaud Giving Fund Charleston, SC PURPOSE: GENERAL SUPPORT | $134,287 |
William Penn Foundation Philadelphia, PA PURPOSE: ESPERANZA ARTS AND COMMUNITY CENTER | $50,000 |
Independence Public Media Of Philadelphia Inc Philadelphia, PA PURPOSE: IMPACTO - TO EMPOWER RESIDENTS OF PHILADELPHIA'S HUNTING PARK COMMUNITY, A PREDOMINANTLY LATINX AND AFRICAN AMERICAN NEIGHBORHOOD WITH ONE OF THE CITY'S HIGHEST POVERTY RATES, BY ENGAGING ADDITIONAL COMMUNITY MEMBERS AS CONTRIBUTORS AND EDITORS FOR IMPACTO'S SPANISH-LANGUAGE PUBLICATION. | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Building Service Thomas Shortman Training Scholarship And New York, NY | $24,265,152 | $18,661,986 |
New York District Council Crpntrs Apprntcshp Jrnymn Retraing Educa New York, NY | $32,423,989 | $13,554,381 |
Ohio Operating Engineers Apprenticeship Fund Columbus, OH | $28,221,332 | $11,797,420 |
Northeast Carpenters Apprenticeship Fund Edison, NJ | $19,860,788 | $10,381,249 |
Hawthorne Valley Association Inc Ghent, NY | $11,965,949 | $10,914,219 |
Electrical Local No 26 Joint Apprenticeship & Training Tr Fund Lanham, MD | $29,794,692 | $14,296,333 |
Operating Engineers Local 825 Springfield, NJ | $22,861,458 | $9,545,959 |
Operating Engineers Local 825 Sub Fund Springfield, NJ | $82,702,164 | $12,313,269 |
Nueva Esperanza Philadelphia, PA | $22,032,264 | $12,218,705 |
Mm&p Maritime Advancement Training Ed & Safety Program Linthicum Heights, MD | $12,191,670 | $4,959,385 |
United Labor Agency Inc Cleveland, OH | $1,262,964 | $7,870,324 |
Baltimore Corps Inc Baltimore, MD | $9,476,399 | $10,474,967 |