Beta-Local Inc
- Assets
- $362.5k
- Revenue
- $362.5k
- Investments
- $0.0
- Employees
- 0
- Location
- San Juan, PR
- Founding
- 10/2011
- Data as of
- 06/2022
- EIN
- 66-0736115
Organization Overview
Beta-Local Inc is located in San Juan, PR. The organization was established in 2011. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beta-Local 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 06/2022, Beta-Local Inc generated $362.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $365.8k during the year ending 06/2022. While expenses have increased by 6.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PRODUCTION OF CULTURAL ACTIVITIES. THE PURPOSE OF THE CORPORATION IS THE PRODUCTION OF CULTURAL NON-FORMAL EDUCATION AND INVESTIGATIONS AND OTHERS ACTIVITIES RELATED TO THE CULTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE CORPORATION IS THE PRODUCTION OF CULTURAL NON-FORMAL EDUCATION AND INVESTIGATIONS AND OTHERS ACTIVITIES RELATED TO THE CULTURE. THE ORGANIZATION IS SUPPORTED MAINLY THROUGH DONOR CONTRIBUTIONS AND GRANTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Linares Co-Director | Trustee | 32 | $36,000 |
Pablo Guardiola Co-Director | Trustee | 32 | $36,000 |
Nibia Pastrana Santiago Co-Director | Trustee | 32 | $33,500 |
Ramon Rivera Servera Secretary Board Of Directors | Trustee | 4 | $0 |
Linda Colon Somoza Treasurer Board Of Directors | Trustee | 4 | $0 |
Marilucy Gonzalez President Board Of Directors | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,103 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $361,348 |
| Noncash contributions included in lines 1a–1f | $39,620 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $362,451 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $362,451 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $80,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $105,500 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $49,945 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,955 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $6,752 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $40,820 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $1,780 |
| All other expenses | $0 |
| Total functional expenses | $365,813 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $354,307 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,500 |
| 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 | $682 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $362,489 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $311,300 |
| 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 | $311,300 |
| Net assets without donor restrictions | $30,189 |
| Net assets with donor restrictions | $21,000 |
| 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 | $362,489 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Beta-Local Inc has recieved totaling $110,000.
| Awarding Organization | Amount |
|---|---|
The Andy Warhol Foundation For The Visual Arts Inc New York, NY PURPOSE: WARHOL RE-GRANTING INITIATIVE | $100,000 |
Robert Rauschenberg Foundation New York, NY PURPOSE: 3 YEAR GRANT FOR GENERAL OPERATING SUPPORT, 5/31/19-5/31/22 | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
La Fundacion Puertorriquena De Las Humanidades Inc San Juan, PR | $2,614,673 | $1,599,598 |
Alliance Francaise De Puerto Rico San Juan, PR | $848,600 | $901,793 |
Beta-Local Inc San Juan, PR | $362,489 | $362,451 |
Asociacion Acirc Corp San Juan, PR | $226,142 | $394,862 |
Fundacion Nacional Para La Cultura Popular San Juan, PR | $137,305 | $245,217 |
Compania De Baile Ballet Senorial Ponce, PR | $41,848 | $0 |
Escuela Mayaguezana De Ballet Y Artes Escenicas Emh Mayaguez, PR | $68,619 | $0 |
Pinceladas En Oro Inc Orocovis, PR | $3,032 | $13,298 |