Puerto Rican Arts Alliance
- Assets
- $5.8m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 10
- Location
- Chicago, IL
- Founding
- 07/1999
- Data as of
- 06/2022
- EIN
- 36-4208867
Organization Overview
Puerto Rican Arts Alliance is located in Chicago, IL. The organization was established in 1999. 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 06/2022, Puerto Rican Arts Alliance employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Puerto Rican Arts Alliance 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 06/2022, Puerto Rican Arts Alliance generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 23.7% each year . All expenses for the organization totaled $1.5m during the year ending 06/2022. While expenses have increased by 13.5% per year over the past 6 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
DEDICATED TO THE PROMOTION AND SUPPORT OF THE CULTURAL TRADITIONS OF PUERTO RICO THROUGH ARTISTIC AND EDUCATIONAL PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRAAS PROGRAMS SERVE PRIMARILY LOW-INCOME YOUTH AND THEIR FAMILIES, USING MUSIC AND ARTS AS A VEHICLE TO INCREASE CROSS-CULTURAL AND INTER- GENERATIONAL UNDERSTANDING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ignacio Lopez Chair | OfficerTrustee | 2 | $0 |
Sylvia Mojica - Castillo Vice-Chair | OfficerTrustee | 2 | $0 |
Robert Pantoja Treasurer | OfficerTrustee | 2 | $0 |
Diana Maldonado Secretary | OfficerTrustee | 2 | $0 |
Monica Diaz Director | Trustee | 1 | $0 |
Manuel Cuevas Trisan Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $914,699 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,206,891 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,121,590 |
| Total Program Service Revenue | $336,792 |
| Investment income | $672 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,540,329 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $125,000 |
| Compensation of current officers, directors, key employees. | $50,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $419,752 |
| Pension plan accruals and contributions | $15,936 |
| Other employee benefits | $12,083 |
| Payroll taxes | $41,215 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,117 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,555 |
| Office expenses | $63,889 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $36,320 |
| Travel | $50,864 |
| 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 | $77,977 |
| Insurance | $21,814 |
| All other expenses | $68,908 |
| Total functional expenses | $1,451,776 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $242,391 |
| Savings and temporary cash investments | $2,458,039 |
| Pledges and grants receivable | $229,323 |
| 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 | $25,019 |
| Net Land, buildings, and equipment | $2,873,773 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,828,545 |
| Accounts payable and accrued expenses | $96,220 |
| Grants payable | $0 |
| Deferred revenue | $86,595 |
| 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 | $617,152 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $799,967 |
| Net assets without donor restrictions | $4,604,272 |
| Net assets with donor restrictions | $424,306 |
| 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 | $5,828,545 |