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Nonprofiteer
← QUEEN SOFIA SPANISH INSTITUTE INC

Form 990 for tax year 2023

Filed by QUEEN SOFIA SPANISH INSTITUTE INC.

Totals

Total revenue
$1,495,228
Total expenses
$1,234,638
Contributions and grants received
$520,653
Grants paid
$20,000
Program service revenue
$0
Investment income
$964,397
Other revenue
$10,178
Total assets, end of year
$26,713,798
Total liabilities, end of year
$44,575
Net assets or fund balances, end of year
$26,669,223
Program services expenses (Part IX)
$882,230
Management and general expenses
$208,502
Fundraising expenses
$143,906
Program service expenses (Part III)
$882,230

Program services were 71.5% 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

    $467,630

  • 1f · All other contributions, gifts and grants

    $53,023

  • 3 · Investment income

    total $869,452 · excluded $869,452

  • 7a · Gross sales of assets other than inventory

    securities $15,220,651

  • 7b · Less cost or other basis and sales expenses

    securities $15,125,706

  • 7c · Gain or loss

    securities $94,945

  • 7d · Net gain or loss

    total $94,945 · excluded $94,945

  • 8a · Fundraising events: gross income

    $271,854

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

    $467,630

  • 8b · Fundraising events: direct expenses

    $261,676

  • 8c · Net income from fundraising events

    total $10,178 · excluded $10,178

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,000 · program services $10,000

  • 2 · Grants to domestic individuals

    total $10,000 · program services $10,000

  • 5 · Compensation of officers, directors and key employees

    total $272,496 · program services $238,052 · management and general $16,056 · fundraising $18,388

  • 7 · Other salaries and wages

    total $254,122 · program services $219,374 · management and general $15,719 · fundraising $19,029

  • 8 · Pension plan contributions

    total $22,621 · program services $20,472 · management and general $1,131 · fundraising $1,018

  • 9 · Other employee benefits

    total $92,631 · program services $83,831 · management and general $4,631 · fundraising $4,169

  • 10 · Payroll taxes

    total $32,231 · program services $29,169 · management and general $1,612 · fundraising $1,450

  • 11c · Fees: accounting

    total $36,750 · program services $7,350 · management and general $29,400

  • 11f · Fees: investment management

    total $123,573 · management and general $123,573

  • 11g · Fees: other

    total $67,155 · program services $62,082 · management and general $5,073

  • 13 · Office expenses

    total $2,766 · management and general $2,766

  • 14 · Information technology

    total $14,261 · program services $14,261

  • 16 · Occupancy

    total $35,316 · program services $34,170 · management and general $573 · fundraising $573

  • 17 · Travel

    total $9,230 · program services $9,230

  • 20 · Interest

    total $2,685 · program services $2,685

  • 23 · Insurance

    total $3,447 · program services $1,149 · management and general $1,149 · fundraising $1,149

  • 24a · Other expenses: PROGRAMS & GRANTS

    total $111,348 · program services $111,348

  • 24b · Other expenses: SOPHIA AWARDS

    total $98,130 · fundraising $98,130

  • 24c · Other expenses: TRANSLATION PRIZE

    total $21,733 · program services $21,733

  • 24d · Other expenses: MISCELLANEOUS

    total $13,638 · program services $6,819 · management and general $6,819

  • 24e · All other expenses

    total $505 · program services $505

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $40,240 · end of year $63,775

  • 2 · Savings and temporary cash investments

    beginning of year $52,197 · end of year $22,786

  • 4 · Accounts receivable

    beginning of year $18,047 · end of year $4,574

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,600 · end of year $24,717

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

    $20,000

  • 10c · Land, buildings and equipment, net

    beginning of year $20,000 · end of year $20,000

  • 11 · Investments: publicly traded securities

    beginning of year $25,336,936 · end of year $26,577,946

  • 17 · Accounts payable and accrued expenses

    beginning of year $15,793 · end of year $44,575

  • 27 · Net assets without donor restrictions

    beginning of year $25,457,227 · end of year $26,669,223

Mission and programs · 2023

Mission

SEE SCHEDULE O

Activities or mission (Part I)

TO FURTHER, IN THE UNITED STATES, AN INTEREST IN THE CULTURE, LANGUAGE, LITERATURE, ART, MUSIC, HISTORY AND CUSTOMS OF SPAIN AND ITS HERITAGE.

  • QUEEN SOFIA SPANISH INSTITUTE, INC. IN MADRID:-SIGNING CEREMONY OF AGREEMENT BETWEEN THE GILDER LEHRMAN INSTITUTE OF AMERICAN HISTORY, QUEEN SOFA SPANISH INSTITUTE (QSSI), AND THE ROYAL ACADEMY OF HISTORY FOR THE LAUNCH OF THE EDUATIONAL APP, "QUIZSTORY," TO BENEFIT AMERICAN AND SPANISH SCHOOL CHILDREN. ALL MATERIALS ARE POSTED ON THE QSSI WEBSITE FOR PUBLIC ACCESS.- BOARD MEETINGQSSI IN HOUSTON-PRESENTATION OF THE BIOGRAPHICAL DICTIONARY (DB~E) O-CARMEN POSADAS INTERVIEW GIOCONDA BELLI - CARMEN POSADAS/JAVIER SIERRA INTERVIEW- JUNIOR COMMITTEE EVENTS

    Expenses $121,348

  • PARTICIPATION IN REDISCOVER EL RETABLO DE MAESE PEDRO ON ITS CENTENARY:-CONCERT AT THE KENNEDY CENTER FOR THE PERFORMING ARTS (TERRACE THEATER)- THINKING THE WORLD IN SPANISH ACADEMIC PROGRAM LED BY THE CHAIR OF THE PRINCE OF ASTURIAS FOUNDATION-"A PANORAMA OF SPANISH MUSIC OF THE LAST 50 YEARS" CONCERT AT GEORGETOWN-CONFERENCES AND CONCERTS AT THE CULTURAL CENTER OF THE EMBASSY OF SPAIN IN WASHINGTON

    Expenses $10,000 · Grants $10,000

  • CONTINUED PARTNERSHIP WITH GILDER LEHRMAN INSTITUTE OF AMERICAN HISTORY:- COLLABORATION EFFORTS WITH THE GILDER LEHRMAN INSTITUTE OF AMERICAN HISTORY TO DEVELOP AND DISSEMINATE RESOURCES AND MATERIALS ON THE CONTRIBUTIONS OF SPAIN TO U.S. HISTORY FROM THE 16TH CENTURY TO 1848. THIS SUBSTANTIAL AND UNIQUE PROJECT WILL ALLOW THE QSSI TO REACH THE GLI'S NETWORK OF 58,000 TEACHERS AND 3,000,000 STUDENTS THROUGHOUT 31,000 SCHOOLS NATIONWIDE. -CREATION AND DISTRIBUTION OF 6,000 POSTER SETS REFLECTING THE CONTRIBUTION OF SPAIN TO THE INDEPENDENCE OF THE UNITED STATES.-DISTRIBUTION OF QUIZSTORY: SPANISH FRIENDSHIP APP THROUGH GLI ABOVE NETWORK.

    Expenses $10,000 · Grants $10,000

  • TRANSLATION PRIZE

    Expenses $740,882

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Pilar Llado Arburua

    CHAIR OF THE BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    10

  • Jose Pepe Fanjul

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    20

  • Patrice Degnan

    PRESIDENT & CEO

    Total calculated
    $0
    Hours/week
    20

  • Joan Trant

    TREASURER

    Total calculated
    $0
    Hours/week
    20

  • Gabriel Cooperman

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Maria Begonia Santos

    EXECUTIVE DIRECTOR & COO

    Total calculated
    $272,496
    From this org
    $205,000
    From related orgs
    $0
    Other
    $67,496
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,000
    Bonus
    $25,000
    Other
    $0
    Deferred
    $20,500
    Nontaxable benefits
    $46,996
    Filer's total
    $272,496

  • Alicia Alcocer Koplowitz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • David Askren

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Maria Luisa Canovas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    30

  • Dr Carlos Cordon-Cardo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Dixie De Luca

    DIRECTOR

    Total calculated
    $0
    Hours/week
    30

  • Marisa Falco De Godo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Antonio Garrigues Walker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Professor Richard Kagan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    30

  • Nancy Kissinger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Carmen Reviriego

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Peggy Holder-Jones

    DIR. ADMIN & ACCOUNTING

    Total calculated
    $162,521
    From this org
    $121,000
    From related orgs
    $0
    Other
    $41,521
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $103,000
    Bonus
    $18,000
    Other
    $0
    Deferred
    $12,100
    Nontaxable benefits
    $29,421
    Filer's total
    $162,521

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 · 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

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202443199349316444

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