Form 990 for tax year 2024
Filed by SPARK CENTRO INC FORMERLY LATIN AMER CHAMBER OF COMM OF CLT INSTA.
Totals
- Total revenue
- $2,554,519
- Total expenses
- $583,145
- Contributions and grants received
- $2,554,115
- Grants paid
- $100,000
- Program service revenue
- $0
- Investment income
- $404
- Other revenue
- $0
- Total assets, end of year
- $5,927,984
- Total liabilities, end of year
- $2,167,630
- Net assets or fund balances, end of year
- $3,760,354
- Program services expenses (Part IX)
- $341,596
- Management and general expenses
- $239,592
- Fundraising expenses
- $1,957
- Program service expenses (Part III)
- $341,596
Program services were 58.6% 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.
-
1e · Government grants (contributions)
$1,500,000
-
1f · All other contributions, gifts and grants
$1,054,115
-
3 · Investment income
total $404 · related or exempt $404
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $100,000 · program services $100,000
-
11a · Fees: management
total $71,148 · management and general $71,148
-
11b · Fees: legal
total $400 · management and general $400
-
11c · Fees: accounting
total $31,725 · management and general $31,725
-
11g · Fees: other
total $108,457 · program services $83,207 · management and general $25,250
-
12 · Advertising and promotion
total $1,949 · fundraising $1,949
-
14 · Information technology
total $121 · program services $95 · management and general $18 · fundraising $8
-
16 · Occupancy
total $46,013 · program services $46,013
-
17 · Travel
total $739 · program services $739
-
20 · Interest
total $93,581 · management and general $93,581
-
22 · Depreciation, depletion and amortization
total $102,786 · program services $102,786
-
23 · Insurance
total $17,431 · management and general $17,431
-
24a · Other expenses: MEALS
total $4,478 · program services $4,478
-
24b · Other expenses: EVENT EXPENSES
total $4,018 · program services $4,018
-
24c · Other expenses: TRAINING AND EDUCATION
total $260 · program services $260
-
24d · Other expenses: BANK FEES
total $39 · management and general $39
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $703,339 · end of year $1,014,975
-
2 · Savings and temporary cash investments
beginning of year $50,982 · end of year $0
-
3 · Pledges and grants receivable
beginning of year $1,125,000 · end of year $0
-
4 · Accounts receivable
beginning of year $65 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $10,875 · end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$5,010,572
-
10b · Land, buildings and equipment: accumulated depreciation
$102,786
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $4,907,786
-
15 · Other assets
beginning of year $50,000 · end of year $5,223
-
17 · Accounts payable and accrued expenses
beginning of year $41,711 · end of year $62,341
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $2,000,000
-
25 · Other liabilities
beginning of year $0 · end of year $105,289
-
28 · Net assets with donor restrictions
beginning of year $1,898,550 · end of year $3,760,354
Mission and programs · 2024
Mission
TO DEVELOP AND PROVIDE EDUCATIONAL PROGRAMMING DESIGNED TO RETOOL, EQUIP, AND EDUCATE HISPANIC ENTREPRENEURIAL AND START-UP COMMUNITY IN THE CHARLOTTE, NC REGION, INCLUDING THOSE SEEKING JOB SKILLS TO OBTAIN GOOD EMPLOYMENT WITH A LOCAL COMPANY.
Activities or mission (Part I)
TO DEVELOP AND PROVIDE EDUCATIONAL PROGRAMMING DESIGNED TO RETOOL, EQUIP, AND EDUCATE THE HISPANIC ENTREPRENEURIAL AND START-UP COMMUNITY IN THE CHARLOTTE, NC REGION, INCLUDING THOSE SEEKING JOB SKILLS TO OBTAIN GOOD EMPLOYMENT WITH A LOCAL COMPANY.
-
EDUCATIONAL PROGRAMMING:PROVIDE EDUCATIONAL SERVICES TO ADDRESS VARIOUS STAGES OF START UP/ENTREPRENEUR GROWTH, WITH A GOAL OF HELPING LOCAL ENTREPRENEURIAL VENTURES INCREASE THEIR CAPACITY TO SERVICE CORPORATE AND LOCAL GOVERNMENTAL CLIENTS THAT HAVE MADE LOCAL DIVERSITY HIRING A PRIORITY. THE DIFFERENT PROGRAMS ARE CENTERED AROUND FOUR THEMES: FORMING & START-UP PHASE, PROFESSIONALIZING PHASE, SCALING PHASE, AND PROFESSIONAL/PERSONAL DEVELOPMENT.
Expenses $341,596 · Grants $100,000
-
MENTORSHIP PROGRAM:PROFESSIONAL MENTORS PROVIDE LEADERSHIP TO INDIVIDUALS ENROLLED IN EACH PROGRAM OFFERING PROFESSIONAL AND PERSONAL DEVELOPMENT.
As filed on the 2024 return.
Listed in Part VII
-
Simon Munoz-AlvarezSIMON MUNOZ-ALVAREZ
CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Johanna SuarezJOHANNA SUAREZ
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
John RojasJOHN ROJAS
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Erlan MartinezERLAN MARTINEZ
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Mario MandiganaMARIO MANDIGANA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Thomas ParksTHOMAS PARKS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Federico CarballoFEDERICO CARBALLO
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Peter MorganPETER MORGAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Tiffany AndersTIFFANY ANDERS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Danilo FormoloDANILO FORMOLO
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Ivan Diaz-CamposIVAN DIAZ-CAMPOS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Natalia SanchezNATALIA SANCHEZ
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Pacino MancillasPACINO MANCILLAS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Marta TatajeMARTA TATAJE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Griselda BaileyGRISELDA BAILEY
OUTGOING - PRESIDENT & CEO
- Total calculated
- $114,850
- From this org
- $0
- From related orgs
- $114,850
- Other
- $0
- Hours/week
- 30
-
Badih AranaBADIH ARANA
CFO
- Total calculated
- $9,366
- From this org
- $0
- From related orgs
- $9,366
- Other
- $0
- Hours/week
- 40
-
Manuel ReyMANUEL REY
INCOMING - PRESIDENT & CEO
- Total calculated
- $18,958
- From this org
- $0
- From related orgs
- $18,958
- Other
- $0
- Hours/week
- 40
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.
Grants on this return
-
GENERAL PURPOSE SUPPORT
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.
-
LATIN AMERICAN CHAMBER OF COMMERCE OF CHARLOTTE
501(C)6 · PROGRAMS TO HELP THE LATIN AMERICAN BUSINESS COMMUNITY SUCCEED · NC
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 6 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202543149349300749
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