THE LATIN ACADEMY OF RECORDING ARTS & SCIENCES INC

EIN: 954501165

MIAMI, FL

Total Revenue
$39,893,258
Total Expenses
$35,698,880
Total Assets
$55,461,729
Net Assets
$46,314,334
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1994
Legal Domicile
DE
Principal Officer
MANUEL ABUD
Phone
3055760036
Tax Period
2024-02-01 to 2025-01-31

THE LATIN ACADEMY OF RECORDING ARTS & SCIENCES INC, founded in 1994, is a mid-sized nonprofit that reported $39.9M in total revenue in fiscal year 2024. Expenses of $35.7M left a modest 11% surplus.

Mission

THE LATIN ACADEMY OF RECORDING ARTS & SCIENCES, INC. WAS ESTABLISHED BY THE NATIONAL ACADEMY OF RECORDING ARTS & SCIENCES TO ADVANCE THE ARTS AND SCIENCES OF RECORDING AND TO FOSTER CREATIVE LEADERSHIP FOR ARTISTIC, CULTURAL, EDUCATIONAL, AND TECHNICAL PROGRESS IN THE RECORDING FIELD IN LATIN AMERICA AND THE LATIN COMMUNITY OF THE UNITED STATES. A PRIMARY ACTIVITY OF THE ORGANIZATION IS THE RECOGNITION OF OUTSTANDING CREATIVE AND TECHNICAL ACHIEVEMENTS IN THE RECORDING ARTS BY ARTISTS IN THE LATIN COMMUNITY WHO ARE DEEMED TO BE MOST WORTHY BY THEIR COLLEAGUES THROUGH AN ANNUAL PRESENTATION OF AWARDS.

Program Service Accomplishments

Program 1

THE LATIN GRAMMY AWARDS: AN ANNUAL EVENT THAT HONORS EXCELLENCE IN LATIN MUSIC AND THE CREATIVE/TECHNICAL PROFESSIONALS BEHIND IT, ADVANCING OUR CULTURAL AND EDUCATIONAL MISSION BY RECOGNIZING...

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THE LATIN GRAMMY AWARDS: AN ANNUAL EVENT THAT HONORS EXCELLENCE IN LATIN MUSIC AND THE CREATIVE/TECHNICAL PROFESSIONALS BEHIND IT, ADVANCING OUR CULTURAL AND EDUCATIONAL MISSION BY RECOGNIZING OUTSTANDING ACHIEVEMENT IN THE ARTS. THE 25TH ANNUAL LATIN GRAMMY AWARDS WERE HELD ON NOVEMBER 14, 2024, IN MIAMI, FLORIDA.

Program 2

THE LATIN GRAMMY PREMIERE EVENT: CEREMONY HELD PRIOR TO THE TELECAST THAT PRESENTS THE MAJORITY OF LATIN GRAMMY CATEGORIES AND SHOWCASES CREATORS ACROSS GENRES AND TECHNICAL FIELDS. THE 2024 LATIN...

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THE LATIN GRAMMY PREMIERE EVENT: CEREMONY HELD PRIOR TO THE TELECAST THAT PRESENTS THE MAJORITY OF LATIN GRAMMY CATEGORIES AND SHOWCASES CREATORS ACROSS GENRES AND TECHNICAL FIELDS. THE 2024 LATIN GRAMMY PREMIERE TOOK PLACE ON NOVEMBER 14, 2024, IN MIAMI, FLORIDA.

Program 3

PERSON OF THE YEAR GALA: ANNUAL TRIBUTE GALA RECOGNIZING AN ARTIST'S CAREER AND CONTRIBUTIONS TO LATIN MUSIC, FEATURING PERFORMANCES BY PEERS AND CELEBRATING ARTISTIC EXCELLENCE. THE 2024 PERSON OF...

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PERSON OF THE YEAR GALA: ANNUAL TRIBUTE GALA RECOGNIZING AN ARTIST'S CAREER AND CONTRIBUTIONS TO LATIN MUSIC, FEATURING PERFORMANCES BY PEERS AND CELEBRATING ARTISTIC EXCELLENCE. THE 2024 PERSON OF THE YEAR EVENT WAS HELD ON NOVEMBER 13, 2024, IN MIAMI BEACH, FLORIDA.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $263,570
Program Service Revenue $37,340,638
Investment Income $1,758,041
Other Revenue $531,009
TOTAL REVENUE $39,893,258

Expense Breakdown

Grants Paid $1,875,000
Salaries & Benefits $8,929,070
Fundraising Expenses $0
Other Expenses $24,894,810
TOTAL EXPENSES $35,698,880

Year-over-Year Comparison

2024 2023 Change
Revenue $39,893,258 $41,304,325 0.0%
Expenses $35,698,880 $37,445,344 0.0%
Net Income $4,194,378 $3,858,981 +0.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
17
Independent Members
17
Employees
47
Volunteers
120

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$2,643,474
Total Directors
17
$0
Key Employees
2
$802,976
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ALOYSIO REIS SECRETARY 1.00
Officer Director
$0 $0 $0
EDUARDO HUTT CHAIRMAN OF THE BOARD 1.00
Officer Director
$0 $0 $0
ALEXANDRA LIOUTIKOFF TRUSTEE 1.00
Director
$0 $0 $0
CARLOS ALVAREZ TRUSTEE 1.00
Director
$0 $0 $0
EDUARDO BERGALLO TRUSTEE 1.00
Director
$0 $0 $0
EDUARDO WEISE TREASURER 1.00
Director
$0 $0 $0
ERIKA ENDER TRUSTEE 1.00
Director
$0 $0 $0
EVA CEBRIAN VICE CHAIRWOMAN 1.00
Director
$0 $0 $0
HARVEY MASON JR TRUSTEE 1.00
Director
$0 $0 $0
LAURA TESORIERO CHAIR EMERITUS 1.00
Director
$0 $0 $0
LUIS ALVAREZ FIOL TRUSTEE 1.00
Director
$0 $0 $0
MANUEL TEJADA TRUSTEE 1.00
Director
$0 $0 $0
MAUREEN REIDY TRUSTEE 1.00
Director
$0 $0 $0
PATRICIA CANTU TRUSTEE 1.00
Director
$0 $0 $0
RAFA SARDINA TRUSTEE 1.00
Director
$0 $0 $0
RICO LOVE TRUSTEE 1.00
Director
$0 $0 $0
TAMMY HURT TRUSTEE 1.00
Director
$0 $0 $0
MANUEL ABUD CEO 40.00
Officer
$1,105,113 $42,362 $1,147,475
LUIS DOUSDEBES CHIEF AWARDS, MEMBERSHIP & PRESERVATION OFFICER 40.00
Officer
$621,249 $41,283 $662,532
JAVIER AGUIRRE CHIEF FINANCIAL OFFICER 40.00
Officer
$562,003 $46,732 $608,735
GABRIEL ABAROA PRESIDENT EMERITUS 40.00
Officer
$200,879 $23,853 $224,732
ENRIQUE PEREZ HEAD OF PARTNERSHIPS & CLIENT SOLUTIONS 40.00
Key Emp
$425,338 $46,841 $472,179
AYLEEN FIGUERAS SENIOR VICE PRESIDENT, PRODUCTION 40.00
Key Emp
$292,039 $38,758 $330,797
AIDA SCORZA SENIOR VICE PRESIDENT, AWARDS 40.00
Highest
$438,956 $29,434 $468,390
IVELIESSE MALAVE SVP COMMUNICATIONS, ARTIST & INDUSTRY RELATIONS 40.00
Highest
$320,600 $18,741 $339,341
LAURA DERGAL HEAD OF MARKETING & CONTENT DEVELOPMENT 40.00
Highest
$287,795 $39,330 $327,125
ADRIANO HAUBENTHAL SR. DIRECTOR, PRODUCT MANAGEMENT 40.00
Highest
$177,169 $50,179 $227,348
MELANIE GALARCE SR. DIRECTOR, PARTNERSHIPS 40.00
Highest
$144,532 $46,155 $190,687
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $39,893,258 $35,698,880 $55,461,729 $4,194,378
2024 $41,304,325 $37,445,344 $47,001,986 $3,858,981
2023 $25,056,677 $23,721,638 $40,809,726 $1,335,039
2022 $23,723,068 $19,953,250 $39,115,078 $3,769,818
2021 $18,467,626 $15,183,661 $33,416,725 $3,283,965
2020 $22,192,183 $19,100,629 $30,909,301 $3,091,554
2019 $20,592,709 $16,031,519 $26,272,373 $4,561,190
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