Overview
What is Somosvc?
Somosvc is a nonprofit organization based in San Jose, California, with a sole employee. Their primary focus is on increasing the representation of Latinx professionals in the venture capital industry. They achieve this by providing free lectures, mentorship opportunities, and career development resources to Latinx professionals interested in venture capital. The organization also shares job opportunities, hosts events, and offers educational panels specifically tailored to Latinx professionals. Their ultimate goal is to improve access to capital for Latinx-led venture firms, thereby fostering a more diverse and impactful venture capital landscape that better represents U.S. demographics.
Official website here: www.latinxvcs.com
Is Somosvc legitimate?
Somosvc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Somosvc 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: $44,444
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.latinxvcs.com
What is the mission statement of Somosvc?
Somosvc's mission is focused on increasing the representation of Latinx professionals in venture capital. They aim to support the careers and networks of Latinx venture investors, and improve access to capital for Latinx-led venture firms. By empowering venture investors to be their authentic selves, Somosvc seeks to diversify the flow of capital to venture capitalists and eventually to startup founders, making it more representative of the U.S. demographics. The organization offers programs such as fellowships and mentorships to help Latinx professionals enter the venture capital industry, provides resources on job opportunities and professional development, and hosts events for emerging Latinx managers.
Official website here: www.latinxvcs.com
Who is the CEO of Somosvc?
Mariela Salas is the Executive Director/Secretary of Somosvc.
Official website here: www.latinxvcs.com
What is the revenue of Somosvc?
Somosvc's revenue in 2022 was $152,141.
Official website here: www.latinxvcs.com
Who are the executives of Somosvc and what are their salaries?
The average compensation at Somosvc during 2022 was $44,444. There is 1 employee and 25 volunteers at Somosvc.
Here are 13 key members and their salaries:
- Compensation: $69,593
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- Other: $9,399
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Official website here: www.latinxvcs.com
Where can I find the form 990 for Somosvc?
Somosvc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.latinxvcs.com
Learn more at the official website: www.latinxvcs.com
Mission Statement of Somosvc
Somosvc, an organization dedicated to promoting diversity in venture capital, aims to increase the representation of Latinx professionals in this field. Their mission is twofold: firstly, they strive to support the career growth and networking of existing Latinx venture investors. Secondly, they seek to improve access to capital for Latinx-led venture firms. By empowering venture investors to show up as their authentic selves, Somosvc aims to diversify the flow of capital, making it more impactful and representative of the U.S. demographics.
In pursuit of this mission, Somosvc offers a fellowship program for Latinx professionals interested in entering the venture capital industry. This program provides free lectures and mentorship opportunities. Additionally, they connect junior Latinx venture professionals with senior venture professionals for mentorship. Through a regular newsletter, private Twitter forum, and Slack groups, Somosvc keeps professionals informed about job opportunities and professional development opportunities specifically tailored for Latinx professionals. They also host events for emerging Latinx managers to share best fundraising practices and provide educational virtual programming and industry-specific educational panels.
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Impact
October, 2024
Somosvc significantly enhances the representation of Latinx professionals in venture capital, thereby fostering a more inclusive and representative financial ecosystem. By empowering Latinx venture investors to embrace their authentic identities, the organization facilitates a diversified flow of capital that aligns with the demographics of the U.S. This outcome is crucial for creating impact in communities often overlooked in traditional funding landscapes.
Through its fellowship program, Somosvc provides crucial educational resources, including free lectures tailored for Latinx individuals aspiring to enter the venture capital sector. This initiative not only builds foundational knowledge but also equips participants with skills necessary for career advancement. Furthermore, the mentorship program connects junior Latinx professionals with seasoned experts in the field, fostering invaluable relationships that enhance career growth and industry insights.
The organization also emphasizes community building and professional development through its regular communication channels, including newsletters and forums that keep Latinx professionals informed about job opportunities and industry happenings. By organizing events focused on best practices for fundraising and professional growth, Somosvc nurtures an environment where Latinx venture managers can thrive and share knowledge.
Ultimately, Somosvc's efforts contribute to a more equitable venture capital landscape, ensuring that Latinx-led firms gain improved access to funding, leading to a broader range of innovative startups that reflect the diverse makeup of the population.
This information is meant to be a general summary of Somosvc. 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.
- Program Service Revenue: $12,141
- Gross Receipts: $152,141
Assets and Liabilities:
- Total Assets: $583,415
- Total Liabilities: $5,275
- Net Assets: $578,140
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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
$12,141
Organization Details
Founding Year
2021
Phone
(626) 552-8469Principal Officer
Mariela Salas
Main Address
3277 S WHITE ROAD 900, SAN JOSE, CA, 95148
Website
www.latinxvcs.comNTEE Category
Code: S30 - Community improvement
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