Skip to content
Nonprofiteer
← PROSPERA INITIATIVES INC

Form 990 for tax year 2022

Filed by PROSPERA INITIATIVES INC.

Totals

Total revenue
$4,183,260
Total expenses
$3,410,614
Contributions and grants received
$4,142,138
Grants paid
$134,100
Program service revenue
$0
Investment income
$75,353
Other revenue
-$34,231
Total assets, end of year
$5,831,817
Total liabilities, end of year
$1,138,593
Net assets or fund balances, end of year
$4,693,224
Program services expenses (Part IX)
$2,434,218
Management and general expenses
$427,523
Fundraising expenses
$548,873
Program service expenses (Part III)
$2,434,218

Program services were 71.4% 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.

  • 1c · Fundraising events

    $323,987

  • 1e · Government grants (contributions)

    $1,949,131

  • 1f · All other contributions, gifts and grants

    $1,869,020

  • 1g · Noncash contributions included above

    $226,722

  • 3 · Investment income

    total $75,353 · excluded $75,353

  • 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

    $52,164

  • 8a · Fundraising events: contributions included on line 1c

    $323,987

  • 8b · Fundraising events: direct expenses

    $88,695

  • 8c · Net income from fundraising events

    total -$36,531 · excluded -$36,531

  • 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: ADVERTISING/SPONSORSHIP

    total $2,300 · unrelated business $2,300

  • 11e · Other revenue, total

    $2,300

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $134,100 · program services $134,100

  • 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 $761,698 · program services $458,708 · management and general $80,701 · fundraising $222,289

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $1,080,287 · program services $865,372 · management and general $132,911 · fundraising $82,004

  • 8 · Pension plan contributions

    total $244,125 · program services $168,862 · management and general $37,556 · fundraising $37,707

  • 9 · Other employee benefits

    total $51,392 · program services $27,804 · management and general $18,046 · fundraising $5,542

  • 10 · Payroll taxes

    total $180,245 · program services $128,905 · management and general $21,877 · fundraising $29,463

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $4,018 · management and general $4,018

  • 11c · Fees: accounting

    total $124,050 · program services $103,512 · management and general $8,843 · fundraising $11,695

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $72,000 · fundraising $72,000

  • 12 · Advertising and promotion

    total $46,481 · program services $33,381 · management and general $3,608 · fundraising $9,492

  • 13 · Office expenses

    total $117,826 · program services $71,283 · management and general $47,095 · fundraising -$552

  • 14 · Information technology

    total $148,380 · program services $118,752 · management and general $19,800 · fundraising $9,828

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $152,215 · program services $129,546 · management and general $5,933 · fundraising $16,736

  • 17 · Travel

    total $148,859 · program services $107,299 · management and general $17,680 · fundraising $23,880

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $49,577 · program services $38,149 · management and general $6,062 · fundraising $5,366

  • 20 · Interest

    total $921 · program services $921

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $48,733 · program services $34,783 · management and general $4,723 · fundraising $9,227

  • 23 · Insurance

    total $16,799 · program services $10,328 · management and general $3,337 · fundraising $3,134

  • 24a · Other expenses: MISCELLANEOUS

    total $28,908 · program services $2,513 · management and general $15,333 · fundraising $11,062

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,537,540 · end of year $2,622,374

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $532,113 · end of year $455,234

  • 4 · Accounts receivable

    beginning of year $10,000 · end of year $0

  • 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 $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $80,022 · end of year $105,871

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

    $315,197

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

    $154,777

  • 10c · Land, buildings and equipment, net

    beginning of year $146,003 · end of year $160,420

  • 11 · Investments: publicly traded securities

    beginning of year $1,731,388 · end of year $1,859,480

  • 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 $0 · end of year $0

  • 15 · Other assets

    beginning of year $266,003 · end of year $628,438

  • 17 · Accounts payable and accrued expenses

    beginning of year $181,260 · end of year $215,145

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $160,902 · end of year $259,650

  • 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 $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $48,071 · end of year $663,798

  • 27 · Net assets without donor restrictions

    beginning of year $3,757,407 · end of year $4,159,011

  • 28 · Net assets with donor restrictions

    beginning of year $155,429 · end of year $534,213

Mission and programs · 2022

Mission

TO STRENGTHEN THE ECONOMY OF FLORIDA THROUGH QUALITY BUSINESS DEVELOPMENT AND TRAINING TO HISPANIC ENTREPRENEURS.

Activities or mission (Part I)

HBIF IS AN ECONOMIC DEVELOPMENT, NONPROFIT ORGANIZATION IN FLORIDA SPECIALIZING IN PROVIDING BILINGUAL ASSISTANCE TO HISPANIC ENTREPRENEURS TRYING (CONTINUED ON SCHEDULE O)

  • ONE-ON-ONE CONSULTING: HBIF STAFF MEET WITH BUSINESS OWNERS TO ASSESS THE VIABILITY OF THE BUSINESS IDEA AND THE JOB CREATION POTENTIAL OF THE BUSINESS VENTURE. IN-HOUSE STAFF ADVISE CLIENTS AS TO THE GENERAL BUSINESS PRACTICES, FINANCIALS, LICENSES/PERMITS, AND ACCESS TO CAPITAL, AMONG OTHERS. IN-HOUSE CONSULTING IS PROVIDED BILINGUAL AND FREE OF CHARGE TO THE BUSINESS OWNER. HBIF ASSISTED 1,589 BUSINESS OWNERS ACROSS THE STATE OF FLORIDA.

    Expenses $1,114,803

  • EDUCATIONAL ASSISTANCE: ORIENTATION SESSIONS PROVIDE BASIC INFORMATION ABOUT HOW TO START A BUSINESS. THE HISPANIC BUSINESS WORKSHOP SERIES OFFERS TRAINING ON SPECIFIC TOPICS THAT ASSIST ENTREPRENEURS IN MAKING CRITICAL DECISIONS TO ACHIEVE SUCCESS. HBIF HAD OVER 2,735 ATTENDEES TO THE EDUCATIONAL SESSIONS OFFERED IN SPANISH AND FREE OF CHARGE.

    Expenses $664,337

  • ENTREPRENEURIAL GRANTS: HBIF'S GRANTS ALLOW STARTUPS AND EXISTING BUSINESSES TO RECEIVE ADVANCED BUSINESS DEVELOPMENT SERVICES AT NO OR MINIMAL COST, COMPLETED BY SUBCONTRACTED PROVIDERS PAID BY HBIF. THE GRANTS OFFERED BY HBIF INCLUDE: LEGAL STRUCTURE ASSESSMENT, ACCOUNTING ASSESSMENT, BUSINESS PLAN DEVELOPMENT, MARKETING PLAN, CORPORATE BRANDING, WEB PAGE CREATION, QUICKBOOKS TRAINING, AND LOAN APPLICATION PREPARATION. HBIF AWARDED ENTREPRENEURIAL GRANTS TO 173 BUSINESSES.

    Expenses $655,078

As filed on the 2022 return.

Listed in Part VII

  • AUGUSTO SANABRIA

    PRESIDENT/CEO

    Total calculated
    $304,337
    From this org
    $265,596
    From related orgs
    $0
    Other
    $38,741
    Hours/week
    40 + 3 related

    Schedule J breakdown matched by us

    Base
    $265,596
    Bonus
    $0
    Other
    $0
    Deferred
    $10,712
    Nontaxable benefits
    $28,029
    Filer's total
    $304,337

  • LUIS E OTERO

    CFO

    Total calculated
    $200,368
    From this org
    $164,900
    From related orgs
    $0
    Other
    $35,468
    Hours/week
    40 + 3 related

    Schedule J breakdown matched by us

    Base
    $164,900
    Bonus
    $0
    Other
    $0
    Deferred
    $16,371
    Nontaxable benefits
    $19,097
    Filer's total
    $200,368

  • BORIS AYALA

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    2 + 3 related

  • LUZ AVILES

    CHAIR

    Total calculated
    $0
    Hours/week
    2 + 3 related

  • LORI DUARTE-ROBERTS

    SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 3 related

  • ALEXANDER SUEIRO

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 3 related

  • SHERRY AMBROSE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 3 related

  • MERCEDES ANGELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • SHARON ARROYO

    DIRECTOR-AT-LARGE

    Total calculated
    $0
    Hours/week
    0.5

  • GEORGE BERMUDEZ

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2 + 3 related

  • CAROLINA Y BLANCO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • CARLOS BRACKLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • DELVIS DIAZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • ALEX DOMINGUEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • CARLOS F ESCOBAR

    DIRECTOR-AT-LARGE

    Total calculated
    $0
    Hours/week
    0.5

  • ELISHA GONZALEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MIKE HERNANDEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • LUIS ROSERO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • RUBEN PEREZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • KATE WILSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

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 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 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

No itemized grants to organizations 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.

Provenance

Return type
form_990
Tax year
2022
Filed
18 July 2024
IRS schema version
2022v5.0
Source object
202422259349302407

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.