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Nonprofiteer
← NUEVA ESPERANZA

Form 990 for tax year 2022

Filed by NUEVA ESPERANZA.

Totals

Total revenue
$13,454,615
Total expenses
$13,006,335
Contributions and grants received
$6,665,635
Grants paid
$1,750,882
Program service revenue
$6,383,395
Investment income
$68,076
Other revenue
$337,509
Total assets, end of year
$44,544,879
Total liabilities, end of year
$28,046,825
Net assets or fund balances, end of year
$16,498,054
Program services expenses (Part IX)
$6,187,322
Management and general expenses
$6,296,002
Fundraising expenses
$523,011
Program service expenses (Part III)
$6,187,322

Program services were 47.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $25

  • 1e · Government grants (contributions)

    $1,339,221

  • 1f · All other contributions, gifts and grants

    $5,326,389

  • 2a · Program service revenue: PROGRAM SERVICE REVENUE

    total $1,923,077 · related or exempt $1,923,077

  • 2b · Program service revenue: MANAGEMENT FEES

    total $4,211,505 · related or exempt $4,211,505

  • 2c · Program service revenue: NEWSPAPER REVENUE (IMPACTO ADS)

    total $248,813 · related or exempt $248,813

  • 3 · Investment income

    total $68,076 · excluded $68,076

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $337,509 · related or exempt $337,509

  • 11e · Other revenue, total

    $337,509

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,750,882 · program services $1,750,882

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $739,206 · management and general $739,206

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $3,352,060 · program services $1,627,156 · management and general $1,435,144 · fundraising $289,760

  • 8 · Pension plan contributions

    total $56,169 · program services $23,978 · management and general $27,090 · fundraising $5,101

  • 9 · Other employee benefits

    total $658,964 · program services $281,314 · management and general $317,809 · fundraising $59,841

  • 10 · Payroll taxes

    total $294,295 · program services $125,636 · management and general $141,934 · fundraising $26,725

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $8,739 · program services $559 · management and general $7,529 · fundraising $651

  • 11c · Fees: accounting

    total $193,908 · program services $12,405 · management and general $167,066 · fundraising $14,437

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $1,157,469 · program services $74,046 · management and general $997,248 · fundraising $86,175

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $570,591 · program services $250,066 · management and general $303,390 · fundraising $17,135

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $1,488,060 · program services $1,196,450 · management and general $277,751 · fundraising $13,859

  • 17 · Travel

    total $25,684 · program services $16,222 · management and general $9,162 · fundraising $300

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $112,278 · program services $56,462 · management and general $54,596 · fundraising $1,220

  • 20 · Interest

    total $47,846 · program services $434 · management and general $47,412

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $112,329 · program services $59,025 · management and general $53,304

  • 23 · Insurance

    total $94,996 · program services $9,470 · management and general $85,526

  • 24a · Other expenses: OTHER OPERATING EXPENSES

    total $447,924 · program services -$780,220 · management and general $1,220,337 · fundraising $7,807

  • 24b · Other expenses: PROGRAM COSTS

    total $1,872,224 · program services $1,460,726 · management and general $411,498

  • 24c · Other expenses: BAD DEBT EXPENSE

    total $22,711 · program services $22,711

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,402,333 · end of year $1,230,433

  • 2 · Savings and temporary cash investments

    beginning of year $7,629,216 · end of year $9,027,586

  • 3 · Pledges and grants receivable

    beginning of year $359,163 · end of year $1,058,436

  • 4 · Accounts receivable

    beginning of year $1,135,625 · end of year $3,448,105

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $1,318,110 · end of year $558,872

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $80,753 · end of year $110,742

  • 10a · Land, buildings and equipment: cost or other basis

    $2,872,280

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,191,888

  • 10c · Land, buildings and equipment, net

    beginning of year $2,603,297 · end of year $1,680,392

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $100,000 · end of year $0

  • 15 · Other assets

    beginning of year $9,669,678 · end of year $27,430,313

  • 17 · Accounts payable and accrued expenses

    beginning of year $542,962 · end of year $683,830

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $1,637,123 · end of year $3,644,702

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $7,069,275 · end of year $23,718,293

  • 27 · Net assets without donor restrictions

    beginning of year $10,666,635 · end of year $10,056,093

  • 28 · Net assets with donor restrictions

    beginning of year $5,382,180 · end of year $6,441,961

Mission and programs · 2022

Mission

THE ORIGINAL MISSION OF NEI WAS TO PROVIDE SUPPORT TO THE HISPANIC COMMUNITY OF NORTH PHILADELPHIA THROUGH COMMUNITY DEVELOPMENT. OVER THE PAST 31 PLUS YEARS, NEI HAS GROWN TO ENCOMPASS LOCAL AND NATIONAL WORK. WITH A STRONG LOCAL COMMUNITY DEVELOPMENT PRESENCE, MULTIPLE EDUCATIONAL INSTITUTIONS, AND ADVOCACY AND CAPACITY BUILDING INITIATIVES TAKING PLACE WITHIN A ROBUST NATIONAL NETWORK OF OVER 13,000 CLERGY, CONGREGATIONS, OVER 500 FAITH-BASED ORGANIZATIONS AND HUNDREDS OF COMMUNITY LEADERS, NEI NOW SERVES A BROAD CONSTITUENCY IN A VARIETY OF CAPACITIES.

Activities or mission (Part I)

ORGANIZATION DEVELOPMENT, HIGHER EDUCATION, COORDINATION OF NATIONAL PROGRAMS AND CAPACITY BUILDING OF HISPANIC FAITH AND COMMUNITY BASED ORGANIZATIONS

  • EDUCATION - ESPERANZA COLLEGE, A BRANCH CAMPUS OF EASTERN UNIVERSITY, IS THE ONLY HISPANIC SERVING INSTITUTION (HSI) IN PA AND THE ONLY PROGRAM OF ITS KIND IN THE COUNTRY WHERE STUDENTS STUDY IN SPANISH, WHILE LEARNING ENGLISH. UPON EARNING THEIR ASSOCIATE DEGREES, STUDENTS ARE PREPARED TO TRANSFER TO FOUR-YEAR COLLEGES AND UNIVERSITIES.

    Expenses $4,008,306 · Revenue $1,923,077

  • NATIONAL - ESPERANZA WORKS PARTIALLY AS AN INTERMEDIARY BETWEEN GOVERNMENT AGENCIES AND HISPANIC FAITH AND COMMUNITY-BASED ORGANIZATIONS. TOGETHER WITH OVER 10,000 HISPANIC CHURCHES AND ORGANIZATIONS, ESPERANZA HAS EMERGED AS A LEADING VOICE FOR HISPANICS OF FAITH IN THE NATION. ESPERANZA HAS SEVERAL NATIONAL INITIATIVES THAT CONTINUE THE WORK OF NUEVA ESPERANZA, INC. ON A NATIONAL SCALE, SERVING THE NEEDS OF THE HISPANIC COMMUNITY AS WELL AS STRENGTHENING THE WORK OF HISPANIC FAITH-BASED ORGANIZATIONS.

    Expenses $1,797,093 · Grants $1,750,882 · Revenue $3,712,820

  • IMPACTO ADS - ESPERANZA PROVIDES THE HISPANIC COMMUNITY WITH RELEVANT INFORMATION AND CONTENT TO PROMOTE COMMUNITY CULTURAL, EDUCATIONAL, AND ECONOMIC GROWTH.

    Expenses $203,624 · Revenue $248,813

  • EMPLOYEE TRAINING

    Expenses $178,299

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Reverend Luis Cortes Jr

    PRESIDENT & CEO

    Total calculated
    $427,031
    From this org
    $334,132
    From related orgs
    $0
    Other
    $92,899
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $334,132
    Bonus
    $0
    Other
    $0
    Deferred
    $69,094
    Nontaxable benefits
    $23,805
    Filer's total
    $427,031

  • Reverend Danny Cortes

    EXEC. VP/CHIEF OF STAFF

    Total calculated
    $296,878
    From this org
    $237,897
    From related orgs
    $0
    Other
    $58,981
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $237,897
    Bonus
    $0
    Other
    $0
    Deferred
    $37,899
    Nontaxable benefits
    $21,082
    Filer's total
    $296,878

  • Walter Toliver

    SR. VP / GENERAL COUNCIL

    Total calculated
    $210,297
    From this org
    $183,327
    From related orgs
    $0
    Other
    $26,970
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,327
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $26,970
    Filer's total
    $210,297

  • Rinku Modi

    CHIEF FINANCIAL OFFICER

    Total calculated
    $196,961
    From this org
    $166,962
    From related orgs
    $0
    Other
    $29,999
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,962
    Bonus
    $0
    Other
    $0
    Deferred
    $2,589
    Nontaxable benefits
    $27,410
    Filer's total
    $196,961

  • William Rhoads

    SR. VP, ESPERANZA ARTS CENTER

    Total calculated
    $157,798
    From this org
    $128,828
    From related orgs
    $0
    Other
    $28,970
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $128,828
    Bonus
    $0
    Other
    $0
    Deferred
    $2,000
    Nontaxable benefits
    $26,970
    Filer's total
    $157,798

  • Marilyn Marsh

    EXEC DEAN OF ESPERANZA COLLEGE

    Total calculated
    $116,371
    From this org
    $104,007
    From related orgs
    $0
    Other
    $12,364
    Hours/week
    40

  • Judith Torres - Lynch

    CHAIR - member

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Rev Bonnie Camarda

    VICE CHAIR - Member

    Total calculated
    $0
    Hours/week
    2

  • Juan Lopez

    TREASURER - member

    Total calculated
    $0
    Hours/week
    2

  • Beth Morales Singh

    SECRETARY - member

    Total calculated
    $0
    Hours/week
    2

  • Gilbert Alfaro

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Tom Caramanico

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Martin Droz

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Josue Figueroa

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Ronald Gilg

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • William Smith

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Tiffany Tavarez

    Board Member

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • IMPACTO ADS LLC

    NEWSPAPER · PA · income $323,813 · assets $310,537

    Directly controlled by NEI INC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • ROBERTO CLEMENTE HOMES LP

    HOUSING · PA

    Directly controlled by 3921 CORP

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • 3921 CORPORATION

    C CORP · HOUSING · PA · 100% owned

    Directly controlled by NUEVA ESPERANZA

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202431299349302018

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