Prospanica
- Assets
- $6.4m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 11
- Location
- Dallas, TX
- Founding
- 05/1993
- Data as of
- 12/2023
- EIN
- 95-4196238
Organization Overview
Prospanica is located in Dallas, TX. The organization was established in 1993. According to its NTEE Classification (S03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Prospanica employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prospanica 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, Prospanica generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 21.4% each year . All expenses for the organization totaled $3.4m during the year ending 12/2023. While expenses have increased by 11.2% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S MISSION IS TO EMPOWER AND ENABLE HISPANIC PROFESSIONALS TO ACHIEVE THEIR FULL EDUCATIONAL, ECONOMIC, AND SOCIAL POTENTIAL.
Describe the Organization's Program Activity:
INCLUDES OTHER PROGRAMS FOCUSED ON LEADERSHIP DEVELOPMENT, CAREER ADVANCEMENT, EDUCATIONAL OPPORTUNITIES, AND NETWORKING EVENTS. TWO OF THESE PROGRAMS THE PROSPANICA SCHOLARSHIP PROGRAM AND THE PROSPANICA CENTER FOR SOCIAL JUSTICE ARE FURTHER DESCRIBED BELOW.THE PROSPANICA SCHOLARSHIP PROGRAM SUPPORTS HISPANIC STUDENTS PURSUING UNDERGRADUATE OR GRADUATE DEGREES IN BUSINESS AND RELATED FIELDS. BY PROVIDING FINANCIAL ASSISTANCE, THIS PROGRAM HELPS STUDENTS OVERCOME FINANCIAL BARRIERS AND ACHIEVE THEIR ACADEMIC GOALS. THIS, IN TURN, PROMOTES THE ADVANCEMENT OF HISPANICS IN HIGHER EDUCATION AND CONTRIBUTES TO A MORE DIVERSE AND INCLUSIVE BUSINESS LANDSCAPE.THE PROSPANICA CENTER FOR SOCIAL JUSTICE IS DEDICATED TO PROMOTING EQUITY, FAIRNESS, AND INCLUSION WITHIN THE HISPANIC COMMUNITY AND BEYOND. BY ADDRESSING SYSTEMIC BARRIERS AND CHALLENGES THAT IMPACT HISPANICS' ABILITY TO ACHIEVE THEIR FULL POTENTIAL, THE CENTER WORKS TO CREATE LASTING, POSITIVE CHANGE IN SOCIETY.
THE PROSPANICA NATIONAL CONFERENCE IS A PREMIER EVENT THAT BRINGS TOGETHER HISPANIC PROFESSIONALS, STUDENTS, AND CORPORATE PARTNERS TO PROMOTE EDUCATIONAL ADVANCEMENT, CAREER DEVELOPMENT, AND LEADERSHIP WITHIN THE HISPANIC COMMUNITY. THIS EVENT PROVIDES INVALUABLE NETWORKING OPPORTUNITIES, PROFESSIONAL DEVELOPMENT WORKSHOPS, AND ACCESS TO RESOURCES THAT EMPOWER PARTICIPANTS TO ACHIEVE THEIR CAREER GOALS.
PROSPANICA LOCAL CHAPTER EVENTS OFFER A PLATFORM FOR HISPANIC PROFESSIONALS AND STUDENTS TO CONNECT, LEARN, AND GROW WITHIN THEIR LOCAL COMMUNITIES. THESE EVENTS PROVIDE TAILORED EDUCATIONAL PROGRAMS, PROFESSIONAL DEVELOPMENT OPPORTUNITIES, AND ACCESS TO VALUABLE RESOURCES THAT ENABLE PARTICIPANTS TO THRIVE IN THEIR CAREERS. BY FOSTERING CONNECTIONS AND EMPOWERING HISPANIC PROFESSIONALS AT THE LOCAL LEVEL, THESE EVENTS CONTRIBUTE TO THE OVERALL ADVANCEMENT OF THE HISPANIC COMMUNITY AND PROMOTE A DIVERSE, INCLUSIVE BUSINESS LANDSCAPE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Savino CEO | OfficerTrustee | 40 | $346,668 |
Maria Lima VP Of Finance | Officer | 40 | $100,888 |
Amanda Tovar COO | Officer | 40 | $11,538 |
Raquel Santiago-Martinez Treasurer | OfficerTrustee | 2 | $0 |
Kirk Santos Director | Trustee | 2 | $0 |
Joe Zubi Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bench Press Marketing | 12/30/23 | $254,008 |
305 Communications And Events Llc Event Planning | 12/30/23 | $117,450 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $63,886 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $159,876 |
| Noncash contributions included in lines 1a–1f | $1,221 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $223,762 |
| Total Program Service Revenue | $2,178,346 |
| Investment income | $427,333 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $120 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,008 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,828,553 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,500 |
| Grants and other assistance to domestic individuals. | $92,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $469,787 |
| Compensation of current officers, directors, key employees. | $143,495 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $418,685 |
| Pension plan accruals and contributions | $19,993 |
| Other employee benefits | $49,313 |
| Payroll taxes | $104,968 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,994 |
| Fees for services: Accounting | $33,682 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,264,536 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $296 |
| Royalties | $0 |
| Occupancy | $29,606 |
| Travel | $240,212 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $433,697 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $10,461 |
| Total functional expenses | $3,394,198 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,052,618 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $97,077 |
| 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 | $65,129 |
| Net Land, buildings, and equipment | $3,498 |
| Investments—publicly traded securities | $5,180,810 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $29,822 |
| Total assets | $6,428,954 |
| Accounts payable and accrued expenses | $995,225 |
| Grants payable | $0 |
| Deferred revenue | $174,995 |
| 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 | $0 |
| Total liabilities | $1,170,220 |
| Net assets without donor restrictions | $5,217,699 |
| Net assets with donor restrictions | $41,035 |
| 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 | $6,428,954 |