Latinos United for a New America

Analysis

Latinos United for a New America is a registered charity in United States, based in San Jose, CA. It received its IRS tax-exemption ruling in July 2014, 12 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Latinos United for a New America reported income of $1.4m and spending of $922k, leaving 32% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $553k to $1.4m (+145%), an average of +35% a year. The sharpest change came in the year to December 2022, when income rose by 139%. Over the whole period it spent 76% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Latinos United for a New America sits at the 89th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within CA. Charities of a similar size with the same main cause include American Friends of the Paris Opera & Ballet ($1.4m), Austin Steam Train Association Incorporated ($1.4m) and Iaam Support Organization ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% and program service revenue 0.2% of the total. Compensation of current officers, directors and key employees was $189k (21% of expenses). Other salaries and wages came to $429k. At year end it held assets of $1.6m against liabilities of $139k, net assets of $1.4m. It reported 10 employees.