Esperanza Inc
- Assets
- $2.5m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 85
- Location
- Cleveland, OH
- Founding
- 01/1984
- Data as of
- 09/2023
- EIN
- 34-1403492
Organization Overview
Esperanza Inc is located in Cleveland, OH. The organization was established in 1984. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 09/2023, Esperanza Inc employed 85 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Esperanza 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 09/2023, Esperanza Inc generated $3.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $3.3m during the year ending 09/2023. While expenses have increased by 10.4% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ESPERANZA, INC.'S MISSION IS TO IMPROVE THE ACADEMIC ACHIEVEMENT OF HISPANICS IN GREATER CLEVELAND, OHIO BY SUPPORTING STUDENTS TO GRADUATE HIGH SCHOOL & PROMOTING POST-SECONDARY EDUCATIONAL ATTAINMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
YOUTH LEADERSHIP PROGRAM PROVIDES AFTER-SCHOOL PROGRAMS WITH THE FOCUS OF STUDENT EXPRESSION, REFLECTIVE LEADERSHIP, COMMUNITY SERVICE, LIFE AND EMPLOYMENT SKILLS, ACADEMICS, CAREER AWARENESS, FIELD TRIPS, AND POST-SECONDARY EDUCATION.
SCHOLARSHIP AND OTHER PROGRAMS.
THE ADULT LEARNER PROGRAM ENCOURAGES THE MOTIVATION AND ACTIVE PARTICIPATION OF PARENTS AND/OR CAREGIVER IN THE EDUCATIONAL PROCESS OF THEIR CHILDREN. IN ADDITION, THE ADULT LEARNER PROGRAM SUPPORTS PARENTS AND/OR CAREGIVERS IN ACHIEVING THEIR OWN GOALS.
OUR MENTORING PROGRAM MATCHES 100+ COLLEGE STUDENTS WITH QUALIFIES PROFESSIONALS IN THE GREATER CLEVELAND AREA. WE USE A USER-FRIENDLY ONLINE PROGRAM (MENTORCLIQ) TO AID IN THE COMMUNICATIONS BETWEEN MENTOR-MENTEE, AS WELL AS ESPERANZA STAFF.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Camila Negret Secretary | OfficerTrustee | 3 | $0 |
Carmen Castro-Rivera President | OfficerTrustee | 3 | $0 |
Edgar San Jose Trustee | Trustee | 2 | $0 |
Andres Arsuaga Trustee | Trustee | 2 | $0 |
Manuel Carballo Trustee | Trustee | 2 | $0 |
Jaime Caraballo Treasurer | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,704,654 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,692,048 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,396,702 |
| Total Program Service Revenue | $0 |
| Investment income | $46 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $248,101 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,662,890 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $94,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $168,816 |
| Compensation of current officers, directors, key employees. | $20,242 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,726,364 |
| Pension plan accruals and contributions | $20,896 |
| Other employee benefits | $133,682 |
| Payroll taxes | $156,561 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,525 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $435,231 |
| Advertising and promotion | $6,262 |
| Office expenses | $70,606 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $140,660 |
| Travel | $12,934 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,659 |
| Insurance | $9,799 |
| All other expenses | $67,492 |
| Total functional expenses | $3,326,903 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $835,382 |
| Savings and temporary cash investments | $597,201 |
| Pledges and grants receivable | $914,909 |
| Accounts receivable, net | $0 |
| 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 | $12,196 |
| Net Land, buildings, and equipment | $12,114 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $130,767 |
| Total assets | $2,502,569 |
| Accounts payable and accrued expenses | $305,285 |
| Grants payable | $0 |
| Deferred revenue | $15,850 |
| 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 | $124,757 |
| Total liabilities | $445,892 |
| Net assets without donor restrictions | $532,725 |
| Net assets with donor restrictions | $1,523,952 |
| 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 | $2,502,569 |