Queen Sofia Spanish Institute Inc
- Assets
- $27.6m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 8
- Location
- New York, NY
- Founding
- 08/1955
- Data as of
- 12/2021
- EIN
- 13-2548780
Organization Overview
Queen Sofia Spanish Institute Inc is located in New York, NY. The organization was established in 1955. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Queen Sofia Spanish Institute Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Queen Sofia Spanish Institute Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Queen Sofia Spanish Institute Inc generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 39.5% each year . All expenses for the organization totaled $1.0m during the year ending 12/2021. While expenses have increased by 5.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO FURTHER, IN THE UNITED STATES, AN INTEREST IN THE CULTURE, LANGUAGE, LITERATURE, ART, MUSIC, HISTORY AND CUSTOMS OF SPAIN AND ITS HERITAGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
SEE SCHEDULE O
SEE SCHEDULE O
(A) ZOOM LIVESTREAM MEDICAL LECTURE - COPING WITH CHANGE AND EMOTIONS DURING COVID-19 WITH DRS. LAURA ROJAS-MARCOS AND ALEJANDRA VALLEJO-NAGERA. (B) GASTRONOMY SERIES, MY SPANISH KITCHEN WITH CAROLINE BECK. ( C) ART HISTORY: GETTING TO KNOW GOYA - VIRTUAL INTERVIEW WITH DR. FRANCISCO CHAPARRO AND DR. CRISTINA DOMENECH ABOUT "GOYA'S GRAPHIC IMAGINATION" EXHIBITION. (D) "THE BARCELONA INCIDENT" WAS A VIRTUAL TALK BETWEEN DRS. LUIS ROJAS AND FERNANDO ALEU. (E) HISTORY CREATION OF A CHILDREN'S APP. THE DEVELOPMENT OF THE APP STARTED IN DECEMBER 2021 AND WILL BE COMPLETED IN 2022. THIS APP IS INTENDED FOR STUDENTS TO LEARN ABOUT HISPANIC HERITAGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrice Degnan Erquicia Secretary/retired 11/2021 | OfficerTrustee | 40 | $207,457 |
Peggy Holder-Jones Accounting Manager | 40 | $118,000 | |
M Begonia Santos Executive Director/coo | Officer | 40 | $47,885 |
Dr Carlos Cordon-Cardo Chairman | OfficerTrustee | 2 | $0 |
David L Askren President & CEO | OfficerTrustee | 8 | $0 |
Jose Pepe Fanjul Vice-Chairman | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $119,527 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $119,527 |
| Total Program Service Revenue | $0 |
| Investment income | $781,632 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $353,995 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,255,154 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| Grants and other assistance to domestic individuals. | $130,706 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $276,088 |
| Compensation of current officers, directors, key employees. | $13,860 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $234,000 |
| Pension plan accruals and contributions | $16,747 |
| Other employee benefits | $81,157 |
| Payroll taxes | $33,134 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $40,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $123,763 |
| Fees for services: Other | $22,855 |
| Advertising and promotion | $3,857 |
| Office expenses | $35,849 |
| Information technology | $12,863 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $7,285 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,331 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,178 |
| All other expenses | $0 |
| Total functional expenses | $1,036,676 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $45,352 |
| Savings and temporary cash investments | $65,851 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $101,417 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $14,804 |
| Net Land, buildings, and equipment | $20,000 |
| Investments—publicly traded securities | $27,326,994 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $27,574,418 |
| Accounts payable and accrued expenses | $63,743 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $63,743 |
| Net assets without donor restrictions | $27,510,675 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $27,574,418 |
Grants Awarded
Over the last fiscal year, Queen Sofia Spanish Institute Inc has awarded $33,300 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: GENERAL SUPPORT | $13,300 |
Bronx, NY PURPOSE: GENERAL SUPPORT | $10,000 |
Bronx, NY PURPOSE: GENERAL SUPPORT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Japan Society Inc New York, NY | $91,776,832 | $10,515,982 |
Kutztown University Foundation Kutztown, PA | $74,779,996 | $14,561,087 |
French Institute-Alliance Francaise New York, NY | $24,965,114 | $8,095,199 |
Center For Jewish History Inc New York, NY | $52,466,984 | $9,804,079 |
Japanese Childrens Society Inc Englewood Cliffs, NJ | $6,760,346 | $7,633,011 |
National Yiddish Book Center Inc Amherst, MA | $63,979,400 | $12,290,218 |
Hispanic Society Of America New York, NY | $100,790,486 | $5,124,176 |
Columbus Citizens Foundation Inc New York, NY | $32,932,983 | $6,043,809 |
Swiss Institute New York, NY | $5,483,468 | $4,486,430 |
Greater Philadelphia Falun Dafa Association Philadelphia, PA | $1,063,316 | $4,579,656 |
The Workmens Circle Arbeter Ring Incorporated New York, NY | $40,155,204 | $3,248,855 |
An Claidheamh Soluis Inc New York, NY | $72,072,476 | $13,153,865 |