Wisconsin Hispanic Scholarship Foundation Inc
- Assets
- $1.9m
- Revenue
- $126.0k
- Investments
- $0.0
- Employees
- 8
- Location
- Milwaukee, WI
- Founding
- 05/1962
- Data as of
- 12/2020
- EIN
- 39-1522543
Organization Overview
Wisconsin Hispanic Scholarship Foundation Inc is located in Milwaukee, WI. The organization was established in 1962. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2021, Wisconsin Hispanic Scholarship Foundation Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wisconsin Hispanic Scholarship Foundation 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 12/2020, Wisconsin Hispanic Scholarship Foundation Inc generated $126.0k 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 (34.8%) each year. All expenses for the organization totaled $314.7k during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION PROVIDES A CULTURAL AND EDUCATIONAL ENVIRONMENT TO ENHANCE AND IMPROVE ACADEMIC SUCCESS OF THE HISPANIC COMMUNITY WHILE PROMOTING A BETTER UNDERSTANDING OF THE ARTS, HISTORY, LITERATURE AND PERPETUATION OF HISPANIC CULTURE. WISCONSIN HISPANIC SCHOLARSHIP FOUNDATION ASSISTS IN OPENING OPPORTUNITIES FOR ADVANCEMENT OF THE QUALITY OF LIFE AMONG HISPANICS. YEAR-ROUND ACTIVITIES OF THE WISCONSIN HISPANIC SCHOLARSHIP FOUNDATION (WHSF) SERVE AS A VEHICLE BY WHICH TO PROVIDE, ENHANCE AND UNDERSTAND THE CULTURAL, EDUCATIONAL, ARTISTIC, ECONOMIC DEVELOPMENT AND LITERARY ENVIRONMENT OF THE HISPANIC COMMUNITY IN THE METRO MILWAUKEE AREA, AS WELL AS THROUGHOUT THE STATE AND THE COUNTRY. WHSF STAGES AN ANNUAL THREE DAY FESTIVAL (MEXICAN FIESTA) ON THE LAKEFRONT SUMMERFEST GROUNDS EACH AUGUST, AN EVENT UNDERTAKEN BY THE ORGANIZATION'S ARMY OF 2,000 VOLUNTEERS AND ATTENDED BY AT LEAST 80,000 FESTGOERS. ANCHORING THE GROUNDS, IS THE HUGE CULTURAL VILLAGE WITH ARTISANS, VENDORS, AND EXHIBITO
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE YEAR-ROUND ACTIVITIES OF THE WISCONSIN HISPANIC SCHOLARSHIP FOUNDATION SERVE AS A VEHICLE BY WHICH TO PROVIDE, ENHANCE AND UNDERSTAND THE CULTURAL, EDUCATIONAL, ARTISTIC, ECONOMIC DEVELOPMENT AND LITERARY ENVIROMENT OF THE HISPANIC COMMUNITY IN THE METRO MILWAUKEE AREA, AS WELL AS THROUGH THE STATE AND THE COUNTRY. EDUCATION BECOMES A VALUED COMPONENT OF THE ORGANIZATION'S EXISTENCE, SO OUR 3-DAY CULTURAL FESTIVAL ALLOWS US TO PROVIDE A SCHOLARSHIP PROGRAM. SINCE ITS INCEPTION, THE ORGANIZATION HAS AWARDED OVER 1,000,000 IN ACADEMIC SCHOLARSHIPS. THESE SCHOLARSHIPS HAVE ALLOWED ASPIRING HISPANIC STUDENTS TO LIVE THEIR DREAMS OF FURTHERING THEIR EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ernesto Baca Treasurer | OfficerTrustee | 5 | $0 |
Ruben Burgos President | OfficerTrustee | 5 | $0 |
Gregorio Montoto 1st Vice Pre | OfficerTrustee | 5 | $0 |
Ricardo Ruiz 2nd Vice Pre | OfficerTrustee | 5 | $0 |
Arturo Martinez Secretary | OfficerTrustee | 5 | $0 |
Ray Bacalzo Trustee | Trustee | 5 | $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 | $32,305 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $32,305 |
| Total Program Service Revenue | $88,626 |
| Investment income | $13,131 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$24,481 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $3,242 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $871 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $126,018 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $23,289 |
| Grants and other assistance to domestic individuals. | $1,100 |
| 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 | $118,218 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $16,941 |
| 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 | $1,404 |
| Advertising and promotion | $1,422 |
| Office expenses | $13,657 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $28,511 |
| Travel | $66 |
| 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 | $56,362 |
| Insurance | $11,364 |
| All other expenses | $5,092 |
| Total functional expenses | $314,735 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $762,675 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $35,226 |
| 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 | $1,145,829 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,943,730 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $88,819 |
| Total liabilities | $88,819 |
| Net assets without donor restrictions | $1,854,911 |
| 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 | $1,943,730 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Wisconsin Hispanic Scholarship Foundation Inc has recieved totaling $30,810.
| Awarding Organization | Amount |
|---|---|
Invest In Others Charitablefoundation Inc Andover, MA PURPOSE: SCHOLARSHIPS FOR EDUCATION | $25,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $5,770 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $40 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Equity Fund Inc Chicago, IL | $118,912,735 | $59,533,345 |
Richard U Light Foundation Kalamazoo, MI | $629,730 | $25,417,215 |
Iowa Student Loan Liquidity Corp West Des Moines, IA | $1,230,053,718 | $45,688,659 |
National Merit Scholarship Corporation Evanston, IL | $183,825,978 | $50,191,294 |
Northstar Education Finance Inc Eagan, MN | $1,293,468,719 | $40,177,777 |
Evans Scholars Foundation Glenview, IL | $101,873,087 | $62,566,812 |
Skillman Foundation Detroit, MI | $412,503,854 | $53,699,386 |
Northwestern Mutual Life Foundation Inc Milwaukee, WI | $106,326,341 | $38,353,841 |
Scholarship America Inc Minneapolis, MN | $219,130,905 | $29,933,482 |
Kalamazoo Promise Kalamazoo, MI | $7,251,327 | $23,596,440 |
Future Leaders Of Americafoundation Inc Chicago, IL | $0 | $13,517,008 |
Des Moines Golf And Country Club West Des Moines, IA | $24,329,403 | $13,657,003 |