Civic Intelligence

Nshmba Foundation

990 • Fiscal year 2023 • EIN 95-4196238

Jan 01, 2023 to Dec 31, 2023 • Filed on Sep 24, 2024

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

57th percentile

0.18x

Higher debt load relative to assets than 57% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

69th percentile

0.41x

Higher debt load relative to revenue than 69% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

15th percentile

-20%

Higher net margin than 15% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

91st percentile

$350,675

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 12.4% of source-year revenue.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

19th percentile

-4.0%

Faster asset growth than 19% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

29th percentile

-6.3%

Faster revenue growth than 29% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Assets

Down

$6,428,954

Down $270,469 (-4.0%) from 2022

Net Assets

Down

$5,258,734

Down $457,869 (-8.0%) from 2022

Liabilities

Up

$1,170,220

Up $187,400 (+19%) from 2022

Revenue

Down

$2,828,553

Down $190,203 (-6.3%) from 2022

Expenses

Up

$3,394,198

Up $604,746 (+22%) from 2022

Net Income

Down

-$565,645

Down $794,949 (-347%) from 2022

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

2023

Assets$6,428,954
Liabilities$1,170,220
Net Assets$5,258,734

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

2023

Revenue$2,828,553
Expenses$3,394,198
Net Income-$565,645
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Sep 24, 2024
Return Version
2023v5.1
Gross Receipts
$2,829,685
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$3,334,663$5,180,810▲ $1,846,147
Cash and Non-Interest-Bearing Accounts$3,075,216$1,052,618▼ $2,022,598
Accounts Receivable$169,267$97,077▼ $72,190
Prepaid Expenses and Deferred Charges$71,999$65,129▼ $6,870
Land, Buildings, and Equipment, Net$4,723$3,498▼ $1,225
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$6,699,423$6,428,954▼ $270,469
Other Assets Total$43,555$29,822▼ $13,733
Liabilities
Accounts Payable and Accrued Expenses$684,654$995,225▲ $310,571
Deferred Revenue$298,166$174,995▼ $123,171
Total Liabilities$982,820$1,170,220▲ $187,400
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,665,518$5,217,699▼ $447,819
Net Assets With Donor Restrictions$51,085$41,035▼ $10,050
Total Net Assets Fund Balance$5,716,603$5,258,734▼ $457,869
Total Liabilities and Net Assets / Fund Balance$6,699,423$6,428,954▼ $270,469

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$3,498$35,855$39,353
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Thomas SavinoCEOFT$280,718$69,957$350,675
Maria LimaVP of FinanceFT$100,888$6,685$107,573
Amanda TovarCOOFT$11,538-$11,538

Board Members and Trustees

NameTitle
Janet SimmsChairman
Jim HuertaVice Chair
Bill SchwartzDirector
Elyse EstradaDirector
Joe ZubiDirector
Kirk SantosDirector
Erika CramerSecretary
Raquel Santiago-martinezTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Bench PressMarketing22 BAY VIEW ROAD WEST, Southhampton, NY 11968$254,008
305 Communications And Events LLCEvent PlanningPO BOX 160428, Miami, FL 33116-0428$117,450
Revenue and Support

Revenue Composition

Contributions and Grants
$223,762
Program Service Revenue
$2,178,346
Investment Income
$426,325
Other Revenue
$120
All Other Contributions
$159,876
Change in Net Assets
$-565,645

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,828,553
Revenue Not Reported on Form 990
$115,069
Total Revenue per Audited Statements
$2,943,622
Total Revenue per Form 990
$2,828,553
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,228,952
Salaries, Compensation, and Employee Benefits$1,062,746
Grants and Similar Amounts Paid$102,500
Total Fundraising Expense$712
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$1,129,878$134,658-$1,264,536
Current Officers, Directors, Trustees, and Key Employees$326,292$143,495-$469,787
Conferences and Meetings$416,452$17,245-$433,697
Other Salaries and Wages$291,646$127,039-$418,685
Travel$170,997$69,215-$240,212
Payroll Taxes$79,395$25,573-$104,968
Grants to Domestic Individuals$92,000--$92,000
Other Employee Benefits$31,578$17,735-$49,313
Fees for Services Accounting-$33,682-$33,682
Occupancy$19,511$9,422$673$29,606
Fees for Services Legal$4,878$24,116-$28,994
Pension Plan Contributions$11,860$8,133-$19,993
Grants to Domestic Orgs$10,500--$10,500
All Other Expenses$6,801$3,621$39$10,461
Other Expenses$25,366$7,463-$7,463
Information Technology-$296-$296
Total Functional Expenses$2,699,137$694,349$712$3,394,198

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,401,491
Expenses per Audited Statements$3,394,198
Total Expenses per Form 990$3,394,198
Expenses Not Reported on Form 990$7,293
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Hispa IncPrinceton, NJ501(c)(3)Hispa Partnership$10,500
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
2024-09-24
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
11
Volunteers
250

Preparer

Firm
Sutton Frost Cary LLP
Address
200 E Front St Suite 200, Arlington, TX 76011
Preparer
Carroll Elizabeth Arnott
Phone
8176498083
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D

OTHER PROGRAM SERVICES 4: 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.

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, 2023, 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/Desc0Includes 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.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CEO
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IRS990/Form990PartVIISectionAGrp/TitleTxt2COO
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IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
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IRS990/OtherExpensesGrp/Desc3TELECOMMUNICATIONS
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IRS990/ProgramServiceRevenueGrp/Desc1ANNUAL CONFERENCE
IRS990/ProgramServiceRevenueGrp/Desc2CAREER CENTER
IRS990/ProgramServiceRevenueGrp/Desc3NATIONAL & CHAPTER EVENTS
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IRS990/ProgSrvcAccomActy2Grp/Desc0The 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.
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IRS990/ProgSrvcAccomActy2Grp/RevenueAmt01322322
IRS990/ProgSrvcAccomActy3Grp/Desc0Prospanica 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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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0157045

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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