Latino Art Beat Inc

Nonprofit profile at a glance

EIN
364235183
IRS 990-EZ coverage
2010–2024
Forms available
Form 990-EZ 2024
Location
Chicago, IL, USA
Phone
7732916901
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Reported finances

Revenue
$32,592
Expenses
$22,574
Assets
$13,715
Liabilities
$40,127

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • Don Rossi Nuccio (President)
  • Daniel O Cisneros (Vice President)

People named in this filing

  • Don Rossi Nuccio (President)
  • Daniel O Cisneros (Vice President)
  • David Cuomo (Secretary)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

LAB offers an annual themed visual arts competition to currently enrolled high school students in select cities in collaboration with the local Mayor's Office and Department of Education. 1st place winners receive scholarship support from LAB and are honored in a public ceremony during Hispanic Heritage Month.

What it reported doing in 2024

LAB holds an annual art competition available to currently enrolled high school students, in select cities. All the artwork is submitted by the student's high school on behalf of its students. A panel of professional judges determines the winners

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 82
  • Sustainability: 55
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.6%; rating input score 61
  • Program expense ratio: 87.5%; rating input score 88

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 30.7%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 0.61; rating input score 34; 34th percentile among comparable filings
  • Liabilities to assets ratio: 2.93; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -4.3% per year; rating input score 0; 37th percentile among comparable filings
  • Revenue growth: 0.6% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: 8.1% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 60.6% of revenue deployed · 87.5% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $20K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 34/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.