Liabilities / Assets
11th percentile
Higher debt load relative to assets than 11% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.00x
Liabilities / Revenue
15th percentile
Higher debt load relative to revenue than 15% of similar nonprofits.
Net Margin
1st percentile
Higher net margin than 1% of similar nonprofits.
Top Officer Pay
Score unavailable
This filing does not contain officer compensation rows.
Asset Growth
6th percentile
Faster asset growth than 6% of similar nonprofits.
Revenue Growth
10th percentile
Faster revenue growth than 10% of similar nonprofits.
Balance Sheet
Assets
Down$5,525,700
Down $769,744 (-12%) from 2019
Net Assets
Down$5,517,906
Down $732,317 (-12%) from 2019
Liabilities
Down$7,794
Down $37,427 (-83%) from 2019
Revenue And Expenses
Revenue
Down$317,496
Down $205,798 (-39%) from 2019
Expenses
Up$1,447,848
Up $1,019,216 (+238%) from 2019
Net Income
Down-$1,130,352
Down $1,225,014 (-1294%) from 2019
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2020 to Dec 31, 2020
- Signed
- Aug 9, 2021
- Return Version
- 2020v4.0
- Gross Receipts
- $1,175,779
Mission and Program Overview
Mission
The organization's mission is to promote and support educational opportunities and advancement for hispanic students and professionals including the management of the prospanica scholarship program, educational and professional development programs.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Investments in Publicly Traded Securities | $5,066,719 | $4,699,393 | ▼ $367,326 |
| Other Notes and Loans Receivable, Net | $1,051,129 | $0 | ▼ $1,051,129 |
| Cash and Non-Interest-Bearing Accounts | $143,617 | $786,393 | ▲ $642,776 |
| Prepaid Expenses and Deferred Charges | $1,377 | $28,660 | ▲ $27,283 |
| Accounts Receivable | $31,000 | $10,754 | ▼ $20,246 |
| Savings and Temporary Cash Investments | - | $0 | - |
| Pledges and Grants Receivable | - | $0 | - |
| Receivable From Disqualified Prsn | - | $0 | - |
| Receivables From Officers Etc | - | $0 | - |
| Investments Other Securities | - | $0 | - |
| Investments Program Related | - | $0 | - |
| Land, Buildings, and Equipment, Net | - | $0 | - |
| Intangible Assets | - | $0 | - |
| Inventories for Sale or Use | - | $0 | - |
| Total Assets | $6,295,444 | $5,525,700 | ▼ $769,744 |
| Other Assets Total | $1,602 | $500 | ▼ $1,102 |
| Liabilities | |||
| Deferred Revenue | $6,161 | $6,071 | ▼ $90 |
| Accounts Payable and Accrued Expenses | $39,060 | $1,723 | ▼ $37,337 |
| Total Liabilities | $45,221 | $7,794 | ▼ $37,427 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $6,221,875 | $5,503,378 | ▼ $718,497 |
| Net Assets With Donor Restrictions | $28,348 | $14,528 | ▼ $13,820 |
| Total Net Assets Fund Balance | $6,250,223 | $5,517,906 | ▼ $732,317 |
| Total Liabilities and Net Assets / Fund Balance | $6,295,444 | $5,525,700 | ▼ $769,744 |
Compensation and Service Providers
Employees
| Name | Title | Other | Total |
|---|---|---|---|
| Monica Puente | VP-finance | $99,855 | $99,855 |
Board Members and Trustees
| Name | Title |
|---|---|
| Janet Simms | Chairman |
| Juan Lopez-thru 72020 | Director |
| Raquel Santiago-martinez | Director |
| Val Rupp-from 82020 | Director |
| Thomas Savino | CEO |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $78,269
- Program Service Revenue
- $19,585
- Investment Income
- $219,543
- Other Revenue
- $99
- All Other Contributions
- $78,269
- Change in Net Assets
- $-1,130,352
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $297,496
- Revenue Not Reported on Financial Statements
- $20,000
- Revenue Not Reported on Form 990
- $398,035
- Total Revenue per Audited Statements
- $695,531
- Total Revenue per Form 990
- $317,496
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Grants and Similar Amounts Paid | $1,227,556 |
| Other Expenses | $220,292 |
| Total Fundraising Expense | $4,208 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Orgs | $1,181,556 | - | - | $1,181,556 |
| Fees for Services Management | - | $173,892 | - | $173,892 |
| Grants to Domestic Individuals | $46,000 | - | - | $46,000 |
| Fees for Service Investment Mgmnt Fees | - | $20,000 | - | $20,000 |
| Fees for Services Other | $4,643 | $9,542 | - | $14,185 |
| Conferences and Meetings | $1,080 | - | $3,014 | $4,094 |
| Travel | $3,075 | $99 | - | $3,174 |
| Other Expenses | $76 | $3,677 | $1,194 | $1,194 |
| Total Functional Expenses | $1,236,430 | $207,210 | $4,208 | $1,447,848 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Form 990 | $1,447,848 |
| Expenses per Audited Statements | $1,427,848 |
| Total Expenses per Audited Statements | $1,427,848 |
| Expenses Not Reported on Financial Statements | $20,000 |
International Activity
Grant and Assistance Recipients
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| National Society of Hispanic | Dallas, TX | 501(c)(6) | Loan Forgiveness | $1,181,556 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Insider Transactions and Loans
Loans and Receivables
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Receivables from Disqualified Persons | - | $0 | - |
| Receivables from Officers, Directors, Trustees, and Key Employees | - | $0 | - |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- Yes
- Annual disclosure for covered persons
- Yes
- Audit committee
- Yes
- Backup withholding compliance
- Yes
- Business relationship with 35% controlled entity
- No
- Business relationship with family members
- No
- Business relationship with organization members
- No
- Material changes to governing documents
- No
- Compensation from other sources disclosed
- No
- CEO compensation reviewed
- Yes
- Other officer compensation reviewed
- Yes
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- Yes
- Key decisions subject to board approval
- No
- Management duties delegated
- Yes
Governance Explanations
Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company
“The organization contracted the national society of hispanic mbas, a tax exempt related entity, to provide the outsourcing of management and administrative services. The board of directors of the organization has oversight over management. See schedule r for transactions.”
Form 990, Part VI, Line 11B: Form 990 Review Process
“The organization requires that the board review the form 990 prior to filing it each year and has a detailed process and procedures for this responsibility. The completed form will be provided to the audit/governance committee of the board and it will be reviewed by all committee members. Next, all members of the board will receive the form 990 for their review. A board/committee resolution is required for the form 990 filing.”
Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts
“The organization has a written conflict of interest policy. Annually, the employees, board of directors of the organization and each chapter must sign a written statement of compliance and disclosure. The organization monitors the compliance and enforcement with the policy by regularly reviewing the policy and updating it as necessary, communicating any changes to employees and board of directors. The organization has a hotline via phone and website where complaints are taken by an independent third party and investigated by an independent board of directors' committee.”
Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management
“The organization has a policy and procedures for compensation and approval of the management services provided, which includes approval by the board of directors and includes comparing compensation data from similar non-profit organizations and contemporaneous substantiation of the process.”
Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
“The organization's governing documents and policies are available on their website. The annual report is also available and financial statements are provided upon request.”
Filing and Contact Details
Filer
- Filer Name
- Nshmba Foundation
- EIN
- 95-4196238
- Phone
- 2145247513
- Address
- 2711 LBJ FREEWAY, DALLAS, TX 75234
Signing Officer
- Name
- Monica Puente
- Title
- VP-finance
- Signed
- 2021-08-09
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Thomas Savino
- Formed
- 1988
- Legal Domicile
- TX
- Voting Board Members
- 4
- Independent Board Members
- 3
- Employees
- 0
- Volunteers
- 2
Preparer
- Firm
- Sutton Frost Cary LLP
- Address
- 600 Six Flags Dr Suite 600, Arlington, TX 76011
- Preparer
- Carroll Elizabeth Arnott
- Phone
- 8176498083
Supplemental Narrative
Additional Explanations
Form 990, Part III, Line 2: New Services
“The organization began the Prospanica Center for Social Justice (PCSJ). The PCSJ will improve our abilities to have critical conversations about social justice issues. Through the Center's research, we will better understand and celebrate the diversity of backgrounds, beliefs, and experiences within our community. Through corporate collaborations, we will expand the Center's equity impact across the corporate landscape for Latinos and other diverse professionals.”
Form 990, Part III, Line 3: Ceased Conducting or Significant Changes To Services
“Postponed the Board Leadership Program in 2020 due to the pandemic. The First cohort took place in 2019.”
Financial Statement Notes
Part X : FIN48 Footnote
“NSHMBA FOUNDATION is exempt from federal income taxes under section 501(c)(3) of the Internal Revenue Code (Code). Therefore, the Foundation IS subject to federal income tax only on unrelated business income. THE FOUNDATION is NOT a private foundation as defined in the Code.GAAP requires the evaluation of tax positions taken in the course of preparing the FOUNDATIONs tax returns and recognition of a tax liability (or asset) if the FOUNDATION has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. Management has analyzed the tax positions taken by the Organization, and has concluded that as of December 31, 2020, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements.”
Raw XML AppendixShowing 400 of 512 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/ProgSrvcAccomActy2Grp/Desc | 0 | THE FOUNDATION'S SCHOLARSHIP PROGRAM PROVIDES FINANCIAL SUPPORT FOR PROFESSIONALS AND STUDENTS SEEKING TO OBTAIN AN UNDERGRADUATE, MBA OR EQUIVALENT DEGREE. |
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| IRS990/ProgSrvcAccomActy3Grp/Desc | 0 | CHAPTERS CONDUCTED EVENTS THROUGH THE FOUNDATION THAT OFFERED EDUCATIONAL ADVANCEMENT THROUGH PROFESSIONAL DEVELOPMENT AND EDUCATIONAL PROGRAMS. |
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| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | NSHMBA FOUNDATION is exempt from federal income taxes under section 501(c)(3) of the Internal Revenue Code (Code). Therefore, the Foundation IS subject to federal income tax only on unrelated business income. THE FOUNDATION is NOT a private foundation as defined in the Code.GAAP requires the evaluation of tax positions taken in the course of preparing the FOUNDATIONs tax returns and recognition of a tax liability (or asset) if the FOUNDATION has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. Management has analyzed the tax positions taken by the Organization, and has concluded that as of December 31, 2020, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Part X : FIN48 Footnote |
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| IRS990ScheduleI/RecipientTable/IRCSectionDesc | 0 | 501(C)(6) |
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| IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt | 0 | NATIONAL SOCIETY OF HISPANIC |
| IRS990ScheduleI/RecipientTable/RecipientEIN | 0 | 270436759 |
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| IRS990ScheduleI/RecipientTable/USAddress/CityNm | 0 | DALLAS |
| IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd | 0 | TX |
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| IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt | 0 | The Scholarship process is managed by a third-party vendor, ISTS. Funds are distributed and managed by ISTS and issued to the University that the student is attending. |
| IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Grantmaker's Description of How Grants are Used |
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| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 0 | THOMAS SAVINO |
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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | The organization began the Prospanica Center for Social Justice (PCSJ). The PCSJ will improve our abilities to have critical conversations about social justice issues. Through the Center's research, we will better understand and celebrate the diversity of backgrounds, beliefs, and experiences within our community. Through corporate collaborations, we will expand the Center's equity impact across the corporate landscape for Latinos and other diverse professionals. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | Postponed the Board Leadership Program in 2020 due to the pandemic. The First cohort took place in 2019. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | THE ORGANIZATION CONTRACTED THE NATIONAL SOCIETY OF HISPANIC MBAS, A TAX EXEMPT RELATED ENTITY, TO PROVIDE THE OUTSOURCING OF MANAGEMENT AND ADMINISTRATIVE SERVICES. THE BOARD OF DIRECTORS OF THE ORGANIZATION HAS OVERSIGHT OVER MANAGEMENT. SEE SCHEDULE R FOR TRANSACTIONS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | THE ORGANIZATION REQUIRES THAT THE BOARD REVIEW THE FORM 990 PRIOR TO FILING IT EACH YEAR AND HAS A DETAILED PROCESS AND PROCEDURES FOR THIS RESPONSIBILITY. THE COMPLETED FORM WILL BE PROVIDED TO THE AUDIT/GOVERNANCE COMMITTEE OF THE BOARD AND IT WILL BE REVIEWED BY ALL COMMITTEE MEMBERS. NEXT, ALL MEMBERS OF THE BOARD WILL RECEIVE THE FORM 990 FOR THEIR REVIEW. A BOARD/COMMITTEE RESOLUTION IS REQUIRED FOR THE FORM 990 FILING. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | THE ORGANIZATION HAS A WRITTEN CONFLICT OF INTEREST POLICY. ANNUALLY, THE EMPLOYEES, BOARD OF DIRECTORS OF THE ORGANIZATION AND EACH CHAPTER MUST SIGN A WRITTEN STATEMENT OF COMPLIANCE AND DISCLOSURE. THE ORGANIZATION MONITORS THE COMPLIANCE AND ENFORCEMENT WITH THE POLICY BY REGULARLY REVIEWING THE POLICY AND UPDATING IT AS NECESSARY, COMMUNICATING ANY CHANGES TO EMPLOYEES AND BOARD OF DIRECTORS. THE ORGANIZATION HAS A HOTLINE VIA PHONE AND WEBSITE WHERE COMPLAINTS ARE TAKEN BY AN INDEPENDENT THIRD PARTY AND INVESTIGATED BY AN INDEPENDENT BOARD OF DIRECTORS' COMMITTEE. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | THE ORGANIZATION HAS A POLICY AND PROCEDURES FOR COMPENSATION AND APPROVAL OF THE MANAGEMENT SERVICES PROVIDED, WHICH INCLUDES APPROVAL BY THE BOARD OF DIRECTORS AND INCLUDES COMPARING COMPENSATION DATA FROM SIMILAR NON-PROFIT ORGANIZATIONS AND CONTEMPORANEOUS SUBSTANTIATION OF THE PROCESS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | THE ORGANIZATION'S GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE ON THEIR WEBSITE. THE ANNUAL REPORT IS ALSO AVAILABLE AND FINANCIAL STATEMENTS ARE PROVIDED UPON REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Form 990, Part III, Line 2: New Services |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Form 990, Part III, Line 3: Ceased Conducting or Significant Changes To Services |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Form 990, Part VI, Line 11b: Form 990 Review Process |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | Form 990, Part VI, Line 19: Other Organization Documents Publicly Available |
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| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt | 0 | 501(c)(6) |
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Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2020 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $5,525,700
- Liabilities
- $7,794
- Net assets
- $5,517,906
- Revenue
- $317,496
- Expenses
- $1,447,848
- Net income
- -$1,130,352