Civic Intelligence

Nshmba Foundation

990 • Fiscal year 2022 • EIN 95-4196238

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 14, 2023

11700 Preston Rd Ste 660 354Dallas, TX 75230

(866) 276-2140

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

53rd percentile

0.15x

Higher debt load relative to assets than 53% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

66th percentile

0.33x

Higher debt load relative to revenue than 66% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

52nd percentile

7.6%

Higher net margin than 52% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

91st percentile

$354,095

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 11.7% of source-year revenue.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

32nd percentile

-4.4%

Faster asset growth than 32% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

99th percentile

658%

Faster revenue growth than 99% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Assets

Down

$6,699,423

Down $311,068 (-4.4%) from 2021

Net Assets

Down

$5,716,603

Down $597,788 (-9.5%) from 2021

Liabilities

Up

$982,820

Up $286,720 (+41%) from 2021

Revenue

Up

$3,018,756

Up $2,620,433 (+658%) from 2021

Expenses

Up

$2,789,452

Up $2,129,069 (+322%) from 2021

Net Income

Up

$229,304

Up $491,364 (+188%) from 2021

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $6,228,800Liabilities 2011: $80,213Net Assets 2011: $6,148,5872011Assets 2012: $7,009,056Liabilities 2012: $101,636Net Assets 2012: $6,907,4202012Assets 2013: $7,502,983Liabilities 2013: $133,457Net Assets 2013: $7,369,5262013Assets 2014: $7,316,190Liabilities 2014: $127,631Net Assets 2014: $7,188,5592014Assets 2015: $5,940,162Liabilities 2015: $54,816Net Assets 2015: $5,885,3462015Assets 2016: $5,525,615Liabilities 2016: $71,918Net Assets 2016: $5,453,6972016Assets 2017: $6,111,110Liabilities 2017: $27,759Net Assets 2017: $6,083,3512017Assets 2018: $5,545,597Liabilities 2018: $11,593Net Assets 2018: $5,534,0042018Assets 2019: $6,295,444Liabilities 2019: $45,221Net Assets 2019: $6,250,2232019Assets 2020: $5,525,700Liabilities 2020: $7,794Net Assets 2020: $5,517,9062020Assets 2021: $7,010,491Liabilities 2021: $696,100Net Assets 2021: $6,314,3912021Assets 2022: $6,699,423Liabilities 2022: $982,820Net Assets 2022: $5,716,6032022Assets 2023: $6,428,954Liabilities 2023: $1,170,220Net Assets 2023: $5,258,7342023Assets 2024: $4,853,983Liabilities 2024: $831,115Net Assets 2024: $4,022,8682024

Highlighted filing

2022

Assets$6,699,423
Liabilities$982,820
Net Assets$5,716,603

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$2.0M$0-$2.0MRevenue 2011: $1,126,735Expenses 2011: $1,031,535Net Income 2011: $95,2002011Revenue 2012: $867,263Expenses 2012: $906,928Net Income 2012: -$39,6652012Revenue 2013: $510,861Expenses 2013: $743,471Net Income 2013: -$232,6102013Revenue 2014: $565,341Expenses 2014: $849,209Net Income 2014: -$283,8682014Revenue 2015: $495,114Expenses 2015: $1,309,985Net Income 2015: -$814,8712015Revenue 2016: $576,852Expenses 2016: $1,099,354Net Income 2016: -$522,5022016Revenue 2017: $404,182Expenses 2017: $315,330Net Income 2017: $88,8522017Revenue 2018: $377,810Expenses 2018: $365,197Net Income 2018: $12,6132018Revenue 2019: $523,294Expenses 2019: $428,632Net Income 2019: $94,6622019Revenue 2020: $317,496Expenses 2020: $1,447,848Net Income 2020: -$1,130,3522020Revenue 2021: $398,323Expenses 2021: $660,383Net Income 2021: -$262,0602021Revenue 2022: $3,018,756Expenses 2022: $2,789,452Net Income 2022: $229,3042022Revenue 2023: $2,828,553Expenses 2023: $3,394,198Net Income 2023: -$565,6452023Revenue 2024: $2,107,940Expenses 2024: $3,577,944Net Income 2024: -$1,470,0042024

Highlighted filing

2022

Revenue$3,018,756
Expenses$2,789,452
Net Income$229,304
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 14, 2023
Return Version
2022v5.0
Gross Receipts
$3,018,756
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.

The organization's mission is to empower and enable hispanic professionals to achieve their full educational, economic, and social potential.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,988,803$3,334,663▼ $654,140
Cash and Non-Interest-Bearing Accounts$2,728,338$3,075,216▲ $346,878
Accounts Receivable$195,897$169,267▼ $26,630
Prepaid Expenses and Deferred Charges$81,312$71,999▼ $9,313
Land, Buildings, and Equipment, Net$5,481$4,723▼ $758
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$7,010,491$6,699,423▼ $311,068
Other Assets Total$10,660$43,555▲ $32,895
Liabilities
Accounts Payable and Accrued Expenses$359,092$684,654▲ $325,562
Deferred Revenue$337,008$298,166▼ $38,842
Total Liabilities$696,100$982,820▲ $286,720
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,299,863$5,665,518▼ $634,345
Net Assets With Donor Restrictions$14,528$51,085▲ $36,557
Total Net Assets Fund Balance$6,314,391$5,716,603▼ $597,788
Total Liabilities and Net Assets / Fund Balance$7,010,491$6,699,423▼ $311,068

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$4,723$38,000$42,723
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Thomas SavinoCEOFT$273,000$81,095$354,095

Board Members and Trustees

NameTitle
Janet SimmsChairman
Jim HuertaVice Chair
Bill SchwartzDirector
Elyse EstradaDirector
Erika CramerDirector
Val RuppDirector
Judith Garcia GalianaSecretary
Raquel Santiago-martinezTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Rkr Sponsor SolutionsSales Consultant3330 COBB PARKWAY STE 324 393, Acworth, GA 30101$165,576
Cogent Global Solutions INCEvent Consultant1550 LARMIER STREET STE 1082, Denver, CO 80202$105,176
Revenue and Support

Revenue Composition

Contributions and Grants
$478,538
Program Service Revenue
$2,333,614
Investment Income
$206,465
Other Revenue
$139
All Other Contributions
$409,924
Change in Net Assets
$229,304

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,018,756
Revenue Not Reported on Form 990
$-826,442
Total Revenue per Audited Statements
$2,192,314
Total Revenue per Form 990
$3,018,756
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,733,864
Salaries, Compensation, and Employee Benefits$990,728
Grants and Similar Amounts Paid$64,860
Total Fundraising Expense$2,750
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$838,099$179,111-$1,017,210
Other Salaries and Wages$312,753$151,669-$464,422
Current Officers, Directors, Trustees, and Key Employees$238,456$115,639-$354,095
Travel$140,348$63,208-$203,556
Conferences and Meetings$138,444$10,394-$148,838
Occupancy$94,216$37,686$2,692$134,594
Payroll Taxes$72,070$27,804-$99,874
Grants to Domestic Individuals$64,860--$64,860
Other Employee Benefits$45,320$5,916-$51,236
Fees for Services Accounting-$32,537-$32,537
Pension Plan Contributions$12,019$9,082-$21,101
Insurance$655$14,909-$15,564
Fees for Services Legal-$12,370-$12,370
All Other Expenses$2,295$7,359-$9,654
Other Expenses$9,741$7,083-$7,083
Depreciation Depletion$2,025$810$58$2,893
Information Technology$2,000$427-$2,427
Total Functional Expenses$2,053,934$732,768$2,750$2,789,452

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,790,102
Expenses per Audited Statements$2,789,452
Total Expenses per Form 990$2,789,452
Expenses Not Reported on Form 990$650
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
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 ItemBeginningEndChange
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
No
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
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 7A

Members elect national board of directors.

Form 990, Part VI, Section A, Line 7B

Members must approve any by-law changes.

Form 990, Part VI, Section B, Line 11B

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, Section B, Line 12C

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, Section B, Line 15A

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, Section C, Line 19

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
Prospanica
EIN
95-4196238
Phone
8662762140
Address
11700 PRESTON RD STE 660 354, DALLAS, TX 75230

Signing Officer

Name
Thomas Savino
Title
CEO
Signed
2023-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Thomas Savino
Formed
1988
Legal Domicile
TX
Voting Board Members
8
Independent Board Members
8
Employees
12
Volunteers
250

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 4D

Other program services 4: national conference's purpose is to increase educational, leadership, career and professional development of hispanic professionals, mba alumni, students and potential mba candidates. Other program services 5: prospanica job board, a career management center, provides recruitment services for both candidates and employers through the prospanica job board database, social media and search technology.

Merger

In 2020 the NBOD voted to merge the C6 into the C3 as one entity. Effective 2022 tax year National Society of Hispanic MBAs (NSHMBA), Texas 501(c)(6) nonprofit was merged into NSHMBA Foundation, California 501(c)(3) nonprofit.

Financial Statement Notes

Part X : FIN48 Footnote

PROSPANICA 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, 2022, 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.

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IRS990/Desc0PROSPANICA CONDUCTS A LEADERSHIP SUMMIT TO PROVIDE PROFESSIONAL DEVELOPMENT AND EDUCATIONAL TRAINING TO CHAPTER BOARD MEMBERS TO EFFECTIVELY BUILD AND STRENGTHEN LEADERSHIP SKILLS TO FURTHER THE MISSION OF PROMOTING THE ADVANCEMENT OF HISPANIC STUDENTS AND PROFESSIONALS.
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.85$0.83$4.02$2.11$3.58$1.47
2023Detailed filing. Detailed filing data is available for this year.$6.43$1.17$5.26$2.83$3.39$0.57
2022Detailed filing. Detailed filing data is available for this year.$6.70$0.98$5.72$3.02$2.79$0.23
2021Detailed filing. Detailed filing data is available for this year.$7.01$0.70$6.31$0.40$0.66$0.26
2020Detailed filing. Detailed filing data is available for this year.$5.53$0.01$5.52$0.32$1.45$1.13
2019Detailed filing. Detailed filing data is available for this year.$6.30$0.05$6.25$0.52$0.43$0.09
2018Detailed filing. Detailed filing data is available for this year.$5.55$0.01$5.53$0.38$0.37$0.01
2017Detailed filing. Detailed filing data is available for this year.$6.11$0.03$6.08$0.40$0.32$0.09
2016Detailed filing. Detailed filing data is available for this year.$5.53$0.07$5.45$0.58$1.10$0.52
2015Detailed filing. Detailed filing data is available for this year.$5.94$0.05$5.89$0.50$1.31$0.81
2014Summary only. Only limited summary data is available for this year.$7.32$0.13$7.19$0.57$0.85$0.28
2013Summary only. Only limited summary data is available for this year.$7.50$0.13$7.37$0.51$0.74$0.23
2012Summary only. Only limited summary data is available for this year.$7.01$0.10$6.91$0.87$0.91$0.04
2011Summary only. Only limited summary data is available for this year.$6.23$0.08$6.15$1.13$1.03$0.10