Instituto Cervantes Of Chicago Inc
- Assets
- $4.8m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 47
- Location
- Chicago, IL
- Founding
- 12/1996
- Data as of
- 12/2023
- EIN
- 36-4092149
Organization Overview
Instituto Cervantes Of Chicago Inc is located in Chicago, IL. The organization was established in 1996. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Instituto Cervantes Of Chicago Inc employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Instituto Cervantes Of Chicago 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 12/2023, Instituto Cervantes Of Chicago Inc generated $2.3m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of 0.0% each year. All expenses for the organization totaled $2.5m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE USE OF SPANISH AS A SECOND LANGUAGE AND SPANISH CULTURAL ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OFFERS SPECIALIZED AND GENERAL SPANISH LANGUAGE COURSES AS WELL AS EXAMINATIONS FOR THE OFFICIAL DIPLOMAS IN SPANISH AS A FOREIGN LANGUAGE (D.E.L.E.) AND THE SPANISH BUSINESS CERTIFICATE. INSTITUTO CERVANTES APPLIES THE LATEST METHODS FOR TEACHING SPANISH AND SUPPORTS THE WORK OF RESEARCHERS AND HISPANICS. THE ORGANIZATION PROVIDES THE GENERAL PUBLIC WITH AN EXTENSIVE LIBRARY CONTAINING SPANISH AND LATIN-AMERICAN BOOKS, PERIODICALS, FILM, AND MUSIC AS WELL AS UP TO DATE TECHNOLOGY. THE ORGANIZATION ALSO OFFERS CULTURAL ACTIVITIES INCLUDING ART EXHIBITS OF LOCAL AND WORLD-RENOWNED SPANISH AND HISPANIC ARTISTS; COORDINATES THE MONTH-LONG CHICAGO FLAMENCO FESTIVAL; SPONSORS BOOK PRESENTATIONS AND SYMPOSIUMS BY SPANISH AND LATIN-AMERICAN AUTHORS AS WELL AS U.S. HISPANIC AUTHORS; COLLABORATES WITH THE VARIOUS FILM FESTIVALS THAT TAKE PLACE IN CHICAGO; COORDINATES CONCERTS OF MUSIC FROM SPAIN AND LATIN AMERICA; HOSTS ON STAGE SOME OF THE MOST AVANT-GARDE WORKS FROM SPAIN AND LATIN AMERICA; SPONSORS LECTURES, SEMINARS, AND CONFERENCES ON VARIOUS CONTEMPORARY TOPICS SUCH AS ARCHITECTURE, CINEMA, AND POETRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Luis Garcia Montero Chairman | OfficerTrustee | 37.5 | $0 |
Carmen Noguera Galilea Vice Chairman | OfficerTrustee | 37.5 | $0 |
Anastasio Sanchez Zamorano President & Director | OfficerTrustee | 37.5 | $0 |
Manuel Valenzuela Villarrubia Treasurer | OfficerTrustee | 37.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,380,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $92,172 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,472,172 |
| Total Program Service Revenue | $688,280 |
| 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 | $10,580 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,283,312 |
| 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 | $710,323 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $76,961 |
| Payroll taxes | $60,721 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $210,240 |
| Advertising and promotion | $56,804 |
| Office expenses | $273,895 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $967,375 |
| Travel | $14,404 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $28,600 |
| Insurance | $44,116 |
| All other expenses | $0 |
| Total functional expenses | $2,518,073 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $109,721 |
| Savings and temporary cash investments | $1,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,777 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $26,757 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $197,821 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,469,936 |
| Total assets | $4,823,012 |
| Accounts payable and accrued expenses | $26,497 |
| 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 | $0 |
| Other liabilities | $4,726,716 |
| Total liabilities | $4,753,213 |
| Net assets without donor restrictions | $69,799 |
| 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 | $4,823,012 |