Overview
What is Nueva Esperanza Inc?
Nueva Esperanza Inc is a prominent nonprofit organization situated in Philadelphia, Pennsylvania. With a strong local community development focus, it has expanded its reach over the past three decades, now encompassing national work. The organization is renowned for its educational institutions, specifically Esperanza College, which serves as a Hispanic-serving institution (HSI) in Pennsylvania and is unique in the country for offering bilingual education in Spanish and English. Upon completing their associate degrees, students are well-prepared to transition to four-year colleges and universities. Beyond education, Nueva Esperanza Inc engages in organization development, higher education, national program coordination, and capacity building for Hispanic faith and community-based organizations. This mission is carried out through a robust network of over 13,000 clergy, 500 faith-based organizations, and numerous community leaders, demonstrating its far-reaching impact. The organization employs 111 individuals, further showcasing its commitment to serving its community.
Official website here: www.esperanza.us
What are the reviews and ratings of this charity?
Nueva Esperanza Inc has received a Two-Star out of Four Star rating from Charity Navigator, with a score of 62% primarily based on Accountability & Finance. This suggests moderate transparency and financial responsibility but indicates room for improvement. The organization did not receive scores for Leadership & Adaptability or Impact & Measurement, highlighting a limited evaluation scope.
The organization demonstrates strength in governance with a majority independent board and compliance with key policies including conflict of interest and whistleblower policies. However, significant areas for improvement include the low program expense ratio and liabilities to assets ratio, suggesting potential financial inefficiencies.
While Nueva Esperanza Inc manages its finances with no red-flag issues like material diversion of assets, areas like program expenditure need attention to ensure more funds are directed towards their mission. Lack of user feedback from platforms like GreatNonprofits offers no additional context on public perception or personal impacts made by the organization.
Is Nueva Esperanza Inc legitimate?
Nueva Esperanza Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Nueva Esperanza Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $714,757
Professional Fundraising Fees: $31,500
Other Salaries and Wages: $3,047,140
For more financial information, click here
Official website here: www.esperanza.us
What is the mission statement of Nueva Esperanza Inc?
Nueva Esperanza Inc's original mission was to support the Hispanic community in North Philadelphia through community development. Over the past three decades, the organization has expanded its reach, now encompassing local and national projects. With a strong focus on community development, multiple educational institutions, and advocacy and capacity building initiatives, Nueva Esperanza Inc operates within a robust national network of over 13,000 clergy, congregations, over 500 faith-based organizations, and hundreds of community leaders. This expansion has enabled the organization to serve a diverse constituency in various capacities.
Official website here: www.esperanza.us
Who is the CEO of Nueva Esperanza Inc?
Luis Cortes Jr is the President & Ceo of Nueva Esperanza Inc. The CEO's salary of Nueva Esperanza Inc is $344,391 and their total compensation is $422,100.
Official website here: www.esperanza.us
What is the revenue of Nueva Esperanza Inc?
Nueva Esperanza Inc's revenue in 2022 was $11,856,124.
Official website here: www.esperanza.us
Who are the executives of Nueva Esperanza Inc and what are their salaries?
The average compensation at Nueva Esperanza Inc during 2022 was $33,891. There are 111 employees and 13 volunteers at Nueva Esperanza Inc.
Here are 18 key members and their salaries (Nueva Esperanza Inc's CEO's salary is $344,391 and their total compensation is $422,100):
- Compensation: $344,391
- Related: $0
- Other: $77,709
- Compensation: $230,335
- Related: $0
- Other: $46,475
- Compensation: $167,170
- Related: $0
- Other: $21,659
- Compensation: $122,534
- Related: $0
- Other: $22,421
- Compensation: $100,332
- Related: $0
- Other: $9,577
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Official website here: www.esperanza.us
Where can I find the form 990 for Nueva Esperanza Inc?
Nueva Esperanza Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.esperanza.us
Learn more at the official website: www.esperanza.us
Mission Statement of Nueva Esperanza Inc
Nueva Esperanza Inc, an organization with a rich history spanning over three decades, initially started with the aim of supporting the Hispanic community in North Philadelphia through community development. Over the years, its scope has expanded both locally and nationally. The organization now encompasses multiple educational institutions, advocacy initiatives, and capacity building programs within a robust national network comprising over 13,000 clergy, numerous congregations, over 500 faith-based organizations, and hundreds of community leaders.
In essence, Nueva Esperanza Inc's mission is multifaceted. It continues to support its local community through community development efforts. Simultaneously, it extends its reach nationally, engaging with a broad constituency through various educational institutions, advocacy, and capacity building initiatives. The organization's work is instrumental in empowering Hispanic faith and community-based organizations, contributing to their growth and development. By doing so, Nueva Esperanza Inc plays a significant role in fostering positive change and uplifting its community, both locally and on a broader scale.
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Impact
October, 2024
Nueva Esperanza Inc significantly impacts the Hispanic community in North Philadelphia and beyond through a multifaceted approach centered on education, community development, and advocacy. At the heart of this mission is Esperanza College, a unique institution that serves as a bridge for Hispanic students. Being the only Hispanic Serving Institution (HSI) in Pennsylvania and the only program of its kind in the nation, Esperanza College empowers students to pursue higher education while studying in Spanish and learning English. This innovative model not only prepares students to earn their associate degrees but also equips them with the skills necessary to transfer to four-year colleges and universities, thereby enhancing their academic and career prospects.
Beyond education, Nueva Esperanza Inc plays a crucial role in strengthening community ties and fostering leadership among Hispanic faith-based organizations. Through coordination of national programs and capacity building initiatives, it engages over 13,000 clergy, congregations, and more than 500 faith-based organizations, creating a robust network that supports community development and advocacy. This extensive collaboration amplifies the voices of community leaders and enhances resources available to the Hispanic community.
With over three decades of experience, Nueva Esperanza Inc has effectively broadened its mission from local support to national outreach. By prioritizing education and community development, it addresses the diverse needs of its constituency, ensuring that Hispanic individuals and families have access to the resources and opportunities necessary for empowerment and advancement. The organization not only transforms lives but also fosters stronger, more resilient communities that can thrive in an increasingly complex societal landscape.
This information is meant to be a general summary of Nueva Esperanza Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $10,291
- Program Service Revenue: $5,904,551
- Gross Receipts: $11,856,124
Assets and Liabilities:
- Total Assets: $25,298,175
- Total Liabilities: $9,249,360
- Net Assets: $16,048,815
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE REVENUE
Revenue
$1,338,581
MANAGEMENT FEES
Revenue
$4,377,240
NEWSPAPER REVENUE (IMPACTO ADS)
Revenue
$188,730
Organization Details
Founding Year
1988
Phone
(215) 324-0746Principal Officer
Luis Cortes Jr
Main Address
4261 North 5th Street, Philadelphia, PA, 19140
Website
www.esperanza.usNTEE Category
Code: J220 - Employment
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