Latino Victory Project

“Latino victory project hired arabella advisors, a philanthropic consulting firm, to provide financial, operational and compliance management services to the organization. Arabella advisors manages the organizations bank account , financial reporting and payment processing. In addition, latino victory project entered into a cost sharing agreement with new venture fund, a 501 (c)(3) public charity, which allows for employees of new venture fund to perform work on behalf of latino victory project. The organization reimburses new venture fund for this work on a monthly basis.”

“It will be sent to each board member prior to filing with a follow- up meeting for discussion.”

“We do not have a conflict of interest policy, but are developing one.”

“A comparative analysis was conducted that looked at similarly placed organizations and roles. Experience, prior responsibilities and salary history were also taken into account. Compensation was determined based on the nature and breadth of the work, speaking to thought partners and reviewing glassdoor site comparisons for similarly described work. Salary history of the new employee was also taken into account.”

“Form 1024 has not been filed with the irs. Form 990 is available for public inspection upon request.”

“Latino victory project will provide copies of its governing documents, conflict of interest policy, and financial statements to the public upon request.”

“Communications: program service expenses 188,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 188,000. Event coordination & management: program service expenses 5,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,000. Other professional fees: program service expenses 88,942. Management and general expenses 0. Fundraising expenses 22,236. Total expenses 111,178. Project management: program service expenses 10,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 10,000. Research: program service expenses 112,960. Management and general expenses 0. Fundraising expenses 0. Total expenses 112,960.”

“This amended return was prepared primariily to amend the part ix statement of functional expenses. The amended return statement of functional expenses reflects a more accurate allocation of expenses both among expense categories and between program, management/general, and fundraising columns. Additionally, 2 officers were incorrectly identified as board members on part vii of the original return. This is corrected on the amended return. Also, a description of of political expenditures was added to schedule c, supplemental information.”