Queen Sofia Spanish Institute Inc

Nonprofit profile at a glance

EIN
132548780
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2126280420
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Cultural, Ethnic Awareness

Official website

Reported finances

Revenue
$1,632,452
Expenses
$1,446,649
Assets
$27,903,377
Liabilities
$120,345

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

Leadership & pay

18 people listed

Executive titles in this filing

  • MARIA BEGONIA SANTOS (PRESIDENT & CEO)

Highest reported compensation

  • MARIA BEGONIA SANTOS (PRESIDENT & CEO): $283,691 total reported compensation
  • PEGGY HOLDER-JONES (DIR. ADMIN & ACCOUNTING): $178,372 total reported compensation

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

Overview

Mission

To further, in the united states, an interest in the culture, language, literature, art, music, history and customs of spain and its heritage. (see schedule o)

What it reported doing in 2024

Qssi in madrid (primeras jornados): to ensure that spain's contribution to the independence of the united states is duly recognized in the official celebrations to be held in the united states in 2026, the queen sofa spanish institute, as part of its "america&spain250" initiative, and the ramn areces foundation present the first conference on 250 years of relations between spain and the united states of america. Sunset gala at the alhambra: the sunset gala at the alhambra supported research on alzheimer's and other neurodegenerative diseases. The qssi and its friends are proud supporters of this cause. The gala took place at the parador de granada, followed by a dance performance by the national ballet of spain at the impressive generalife theater of the alhambra palace in granada.(1) american folk art museum: a special presentation francesc tosquelles: avant-garde psychiatry and the birth of art brutthis special event presented an exclusive look at the new exhibition about the spanish psychiatrist francesc tosquelles and featured a conversation about advances in the field of psychiatry and mental health followed by private tours of the exhibition. Guests joined the queen sofa spanish institute and the american folk art museum for an after-hours event with unique perspectives on the new exhibition, private tours, and light refreshments.(2) 15th edition of the conferencia mba espana: the queen sofa spanish institute is a proud sponsor of the conference and opening event of the 15th edition of conferencia mba espaa held this year at columbia university. Conferencia mba espaa was a two-day event of lectures and networking events where spanish leaders in business shared their experiences and perspectives with mba students from top american universities.(3) (3) junior committee events(4) (4) anniversary video(5) (5) mecusa: the queen sofa spanish institute is a proud sponsor of the exhibition and opening of ellas son ciencia/ women are science by mecusa & spanish illustrator quan zhou held at nyu-kjcc.USA(6) (6) talia award: "the red rose" by prtt wins the 2024 award(7) quizstory podcast(8) general program expenses.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 92% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 63
  • Accountability: 92
  • Sustainability: 68
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.8%; rating input score 90
  • Program expense ratio: 80.8%; rating input score 81
  • Fundraising efficiency: $12.58 raised per $1 spent on fundraising; rating input score 45; 45th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: 0 of 8 controls in place; rating input score 0
    • Claims monitoring procedures: Fail
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 94.1%; rating input score 94; 25th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 11.4%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 19.29; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 74; 74th percentile among comparable filings
  • Officer compensation ratio: 31.9%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: 16.7% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: 15.9% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 2.9% per year; rating input score 100; 29th percentile among comparable filings

Details

  • Where the money goes: 89.8% of revenue deployed · 80.8% of spending went to programs
  • Governance: 16 of 17 board members independent · 7 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $1.2M in reported program spending
  • Leadership: top reported pay $284K · 18 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 39 of 39 current checks pass
  • Schedules: 9 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Transparency & Controls: Foreign activity oversight: 8 of 8 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 45/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Officer compensation ratio scored 6/100.