Overview
What is Wisconsin Hispanic Scholarship Foundation Inc?
The Wisconsin Hispanic Scholarship Foundation Inc, situated in Milwaukee, Wisconsin, serves as a platform to enhance and comprehend the cultural, educational, artistic, economic development, and literary environment of the Hispanic community. This nonprofit organization's primary mission is to foster academic success among Hispanics while promoting a deeper understanding of art, history, literature, and Hispanic culture. Their activities extend beyond the metro Milwaukee area, encompassing the state and the country. The foundation's efforts are showcased through an annual three-day festival, Mexican Fiesta, hosted on the Lakefront Summerfest grounds, which attracts thousands of attendees. A significant aspect of their work involves awarding scholarships to aspiring Hispanic students, totaling over a million dollars since inception. The organization also hosts community events at its facilities and boasts an army of 2,000 volunteers.
Official website here: www.mexicanfiesta.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
The Wisconsin Hispanic Scholarship Foundation Inc has received a two-star rating from Charity Navigator, indicating that there are significant areas for improvement concerning accountability and financial practices. The overall score of 69% reflects a strong program expense ratio of 84.85%, suggesting that a large portion of its expenditures goes directly to its programs. However, the foundation has critical weaknesses in transparency, as it lacks essential financial statements and various policies that guide good governance.
One notable strength of the organization is its fully independent board, which consists of 15 members, ensuring that governance is free from conflicts of interest. This independence illustrates a commitment to ethical oversight. However, the absence of a conflict of interest policy, whistleblower policy, and document retention policy indicates potential vulnerabilities in organizational governance that could affect its operations and public trust.
Overall, while the Wisconsin Hispanic Scholarship Foundation Inc demonstrates effective program spending and strong independence on its board, its poor accountability practices and missing documentation raise concerns. Addressing these issues could help the organization improve its rating and enhance its transparency and reliability in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Wisconsin Hispanic Scholarship Foundation Inc legitimate?
Wisconsin Hispanic Scholarship Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wisconsin Hispanic Scholarship Foundation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $208,035
For more financial information, click here
Official website here: www.mexicanfiesta.org
What is the mission statement of Wisconsin Hispanic Scholarship Foundation Inc?
The Wisconsin Hispanic Scholarship Foundation Inc's mission is focused on providing a culturally and educationally enriching environment for the Hispanic community. Its aim is to boost academic success among Hispanics while fostering a better understanding of their arts, history, literature, and culture. The organization assists in opening opportunities for advancement in the quality of life for Hispanics. Year-round activities by the Wisconsin Hispanic Scholarship Foundation serve as a platform to enhance and understand the cultural, educational, artistic, economic development, and literary environment of the Hispanic community not just in the metro Milwaukee area, but throughout the state and the country. The foundation organizes an annual three-day festival, the Mexican Fiesta, which attracts a large number of attendees and features a cultural village with artisans, vendors, and exhibits.
Official website here: www.mexicanfiesta.org
What is the revenue of Wisconsin Hispanic Scholarship Foundation Inc?
Wisconsin Hispanic Scholarship Foundation Inc's revenue in 2023 was $3,137,606.
Official website here: www.mexicanfiesta.org
Who are the executives of Wisconsin Hispanic Scholarship Foundation Inc and what are their salaries?
The average compensation at Wisconsin Hispanic Scholarship Foundation Inc during 2023 was $26,004. There are 8 employees and 2000 volunteers at Wisconsin Hispanic Scholarship Foundation Inc.
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Official website here: www.mexicanfiesta.org
Where can I find the form 990 for Wisconsin Hispanic Scholarship Foundation Inc?
Wisconsin Hispanic Scholarship Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.mexicanfiesta.org
Learn more at the official website: www.mexicanfiesta.org
Mission Statement of Wisconsin Hispanic Scholarship Foundation Inc
The Wisconsin Hispanic Scholarship Foundation Inc, in its mission, aims to establish a culturally and educationally enriching environment for the Hispanic community. This organization aspires to boost academic success among Hispanics while fostering a better comprehension of the arts, history, literature, and the preservation of Hispanic culture. The foundation plays a significant role in opening doors for advancement and enhancing the quality of life for Hispanics.
Year-round activities undertaken by the Wisconsin Hispanic Scholarship Foundation serve as a medium to provide, enhance, and understand the cultural, educational, artistic, economic development, and literary environment of the Hispanic community. This nonprofit organization stages an annual three-day festival, known as the Mexican Fiesta, which takes place on the Lakefront Summerfest grounds each August. This event is a collaborative effort of the organization's 2,000 volunteers, attracting at least 113,000 attendees. The festival's centerpiece is a substantial cultural village, featuring artisans, vendors, and exhibits.
In essence, the Wisconsin Hispanic Scholarship Foundation Inc's mission is dedicated to uplifting the Hispanic community by fostering an environment that nurtures cultural, educational, artistic, and economic growth. The organization's activities and events, such as the Mexican Fiesta, provide opportunities for community engagement and understanding, thus promoting the preservation and appreciation of Hispanic culture.
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Impact
July, 2024
The Wisconsin Hispanic Scholarship Foundation Inc's impact is significant in enhancing the academic success of the Hispanic community while promoting a better understanding of Hispanic culture through educational and cultural activities. The organization provides a platform for advancing the quality of life among Hispanics by awarding academic scholarships to aspiring Hispanic students. Since its inception, the foundation has awarded over $1,000,000 in scholarships, enabling many Hispanic students to pursue their educational dreams. Additionally, the foundation hosts community events at its Flores Hall facility in Milwaukee, further benefiting the general public. Through its year-round activities and the annual three-day Mexican Fiesta festival, the Wisconsin Hispanic Scholarship Foundation plays a crucial role in fostering cultural, educational, artistic, and economic development within the Hispanic community in the Metro Milwaukee area, as well as throughout the state and the country.
This information is meant to be a general summary of Wisconsin Hispanic Scholarship Foundation 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 2023.
- Investment Income: $37,089
- Program Service Revenue: $3,041,089
- Gross Receipts: $3,458,417
Assets and Liabilities:
- Total Assets: $3,082,042
- Total Liabilities: $76,162
- Net Assets: $3,005,880
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CULTURAL ACTIVITY
Revenue
$85,515
MEXICAN FIESTA
Revenue
$2,955,574
Organization Details
Founding Year
1987
Principal Officer
Ruben Burgos
Website
www.mexicanfiesta.orgNTEE Category
Code: B82Z - Education
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