Fresno Area Hispanic Foundation
- Assets
- $5.7m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 15
- Location
- Fresno, CA
- Founding
- 02/2004
- Data as of
- 12/2021
- EIN
- 75-3129705
Organization Overview
Fresno Area Hispanic Foundation is located in Fresno, CA. The organization was established in 2004. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Fresno Area Hispanic Foundation employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fresno Area Hispanic Foundation 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, Fresno Area Hispanic Foundation generated $3.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 35.8% each year . All expenses for the organization totaled $1.4m during the year ending 12/2021. While expenses have increased by 17.5% 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 PROMOTE EDUCATION AND SELF-SUFFICIENCY THROUGH ECONOMIC DEVELOPMENT THAT STRENGTHENS OUR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FRESNO AREA HISPANIC FOUNDATION HELD VARIOUS ACTIVITIES TO ENHANCE AND IMPROVE THE COMMUNITY AS A WHOLE THROUGH NETWORKING, EDUCATION, AWARENESS AND PROVIDING A SOURCE FOR THE COMMUNITY TO SUPPORT ACTIVITIES AND PROGRAMS THAT PROMOTE, BENEFIT AND FOSTER THE HISPANIC BUSINESS COMMUNITY AND THE COMMUNITY AS A WHOLE IN FRESNO, CA AND THE SURROUNDING AREAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dora Westerlund President & CEO | Officer | 50 | $166,050 |
Yerania Olivares COO | Officer | 50 | $103,781 |
Fausto Hinojosa Treasurer | OfficerTrustee | 1 | $0 |
Victor Olivares Secretary | OfficerTrustee | 1 | $0 |
Gerardo Hernandez Vice Chair | OfficerTrustee | 1 | $0 |
Sandra Vicente Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $20,801 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,033,052 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,095,034 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,148,887 |
| Total Program Service Revenue | $0 |
| Investment income | $16,998 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$130,509 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $1,500 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,036,876 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $32,700 |
| Grants and other assistance to domestic individuals. | $36,160 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $269,831 |
| Compensation of current officers, directors, key employees. | $53,966 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $434,109 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,673 |
| Payroll taxes | $59,072 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $118,059 |
| Advertising and promotion | $56,040 |
| Office expenses | $27,615 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,961 |
| Travel | $30,570 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,642 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,447 |
| Insurance | $39,919 |
| All other expenses | $54,975 |
| Total functional expenses | $1,354,584 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $588,121 |
| Savings and temporary cash investments | $1,410,401 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $86,734 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $557,098 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $12,000 |
| Net Land, buildings, and equipment | $2,994,642 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $9,562 |
| Other assets | $0 |
| Total assets | $5,658,558 |
| Accounts payable and accrued expenses | $88,099 |
| 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 | $1,281,546 |
| Unsecured mortgages and notes payable | $75,000 |
| Other liabilities | $11,044 |
| Total liabilities | $1,455,689 |
| Net assets without donor restrictions | $3,519,033 |
| Net assets with donor restrictions | $683,836 |
| 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 | $5,658,558 |
Grants Awarded
Over the last fiscal year, Fresno Area Hispanic Foundation has awarded $100,000 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
KUNISAMA LLC PURPOSE: CARES Act Grant | $10,000 |
BEST CUTS PURPOSE: CARES Act Grant | $10,000 |
ALVARADO ZARATE LLC PURPOSE: CARES Act Grant | $10,000 |
AAI GROUP LLC PURPOSE: CARES Act Grant | $10,000 |
COCINA SABOR LLC PURPOSE: CARES Act Grant | $10,000 |
TULARE STREET BISTRO PURPOSE: CARES Act Grant | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Fresno Area Hispanic Foundation has recieved totaling $755,969.
| Awarding Organization | Amount |
|---|---|
The California Wellness Foundation Los Angeles, CA PURPOSE: FOR CORE OPERATING SUPPORT TO IMPROVE THE ECONOMIC WELLBEING OF SAN JOAQUIN VALLEY ENTREPRENEURS, PARTICULARLY THOSE WHO ARE LOW-INCOME, FROM COMMUNITIES OF COLOR OR IN RURAL AREAS, THROUGH SMALL BUSINESS DEVELOPMENT SERVICES AND TRUSTWORTHY LOAN PRODUCTS. | $250,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION | $240,000 |
National Association For Latino Community Asset Builders San Antonio, TX PURPOSE: Small Business | $105,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $50,000 |
Eva Longoria Foundation Santa Monica, CA PURPOSE: TECHNICAL ASSISTANCE FOR LATINA ENTREPRENEURS | $40,000 |
James Irvine Foundation San Francisco, CA PURPOSE: FOR SUPPORT OF LATINO NONPROFITS | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
San Francisco Travel Association San Francisco, CA | $17,687,275 | $15,738,684 |
Citadel Economic Development Corporation San Bernardino, CA | $7,215,242 | $16,438,545 |
Greater Phoenix Convention & Visitors Bureau Phoenix, AZ | $19,191,750 | $16,242,591 |
Long Beach Area Convention And Visitors Bureau Inc Long Beach, CA | $4,784,571 | $9,189,036 |
San Luis Obispo Visitors & Conference Bureau Incorporated San Luis Obispo, CA | $7,302,521 | $9,818,447 |
Smcu Community Fund Redwood City, CA | $1,513,371 | $6,964,137 |
Maui Economic Development Board Inc Medb Kihei, HI | $10,649,362 | $7,742,311 |
Greater Phoenix Economic Council Phoenix, AZ | $6,926,984 | $7,545,492 |
Santa Monica Travel & Tourism Santa Monica, CA | $2,868,308 | $7,126,411 |
Providence Foundation Of San Francisco San Francisco, CA | $2,572,916 | $7,012,697 |
La Cocina Inc San Francisco, CA | $10,601,250 | $8,307,558 |
Cplc Nevada Inc Phoenix, AZ | $8,204,824 | $6,300,794 |