Latin American Multichannel Advertising Council Inc
- Assets
- $540.7k
- Revenue
- $297.8k
- Investments
- $0.0
- Employees
- 4
- Location
- Coral Gables, FL
- Founding
- 11/2006
- Data as of
- 12/2021
- EIN
- 43-1989548
Organization Overview
Latin American Multichannel Advertising Council Inc, operating under the name Latin American Media Advertising Council, is located in Coral Gables, FL. The organization was established in 2006. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Latin American Media Advertising Council employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Latin American Media Advertising Council is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Latin American Media Advertising Council generated $297.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (31.1%) each year. All expenses for the organization totaled $719.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (21.3%) per year over the past 7 years. 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
THE PRIMARY MISSION OF LAMAC IS TO GENERATE RESEARCH INFORMATION AND INSIGHTS THAT WILL ASSIST ADVERTISERS AND THEIR RESPECTIVE ADVERTISING AGENCIES TO BETTER UNDERSTAND THE BENEFITS OF ADVERTISING IN CABLE TELEVISION. WE ADDITIONALLY ASSIST OUR 35 MEMBERS NETWORKS IN TRACKING THE OVERALL ADVERTISING INVESTMENT. THIS INFORMATION IS USED TO EVALUATE THE PERFORMANCE OF THE MEMBERSHIP GROUP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAMAC HAS BEEN SUCCESSFUL IN ASSISTING MEMBERS WITH FUNDING A SERIES OF JOINT INDUSTRY RESEARCH INITIATIVES. LAMAC DEVELOPED A COMMUNICATIONS PROGRAM TO DISSEMINATE THIS INFORMATION VIA SEMINARS, WORKSHOPS, AND NEWSLETTERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Enrique R Martinez Chairman, President | OfficerTrustee | 30 | $120,000 |
Frida Almaraz Director Of Analytics & Insight | 40 | $116,000 | |
Eduardo Ruiz Secretary | OfficerTrustee | 1 | $0 |
Felipe Destefani Director | Trustee | 1 | $0 |
Fernando Medin Director | Trustee | 1 | $0 |
Gus O'brien Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Paychex Employee Leasing | 12/30/19 | $209,065 |
Mcbride Advertising Inc Consulting Services | 12/30/19 | $150,000 |
Holland & Knight Legal Services | 12/30/19 | $123,302 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $295,985 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $295,985 |
| Total Program Service Revenue | $0 |
| Investment income | $3,453 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,594 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $297,844 |
| 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. | $239,322 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $44,368 |
| Pension plan accruals and contributions | $10,746 |
| Other employee benefits | $69,251 |
| Payroll taxes | $28,317 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,222 |
| Fees for services: Accounting | $102,115 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,807 |
| Advertising and promotion | $1,565 |
| Office expenses | $8,560 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,486 |
| Travel | $8,891 |
| 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 | $14,511 |
| Insurance | $3,774 |
| All other expenses | $1,531 |
| Total functional expenses | $719,028 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $521,473 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $1,305 |
| Net Land, buildings, and equipment | $17,950 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $540,728 |
| Accounts payable and accrued expenses | $144,053 |
| 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 | $761 |
| Total liabilities | $144,814 |
| Net assets without donor restrictions | $395,914 |
| 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 | $540,728 |
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|---|---|---|
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The Better Business Bureau Of Metropolitan Birmingham Incorportd Birmingham, AL | $1,159,880 | $2,115,172 |
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Coastal Area District Development Authority Brunswick, GA | $23,475,246 | $6,775,670 |
Carroll County Economic Development Carrollton, GA | $4,543,478 | $2,769,284 |