2025-12-15T16:12:55-06:00 2025-01-31 861065772 DELOITTE TAX LLP 12830 EL CAMINO REAL SUITE 600 SAN DIEGO CA 92130 990 2024-02-01 954501165 THE LATIN ACADEMY OF RECORDING ARTS & SCIENCES INC LATI 3055760036 3470 NW 82ND AVENUE 600 MIAMI FL 331221028 JAVIER AGUIRRE CFO 3055760036 2025-12-11 1 0 JOCELYNE MILLER P00634378 6192326500 2024 2025-03-06 01:10:19Z THE LATIN RECORDING ACADEMY MANUEL ABUD 3470 NW 82ND AVENUE 600 MIAMI FL 331221028 83994996 0 X WWW.LATINGRAMMY.COM X 1994 DE THE ORGANIZATION'S MISSION IS TO ADVANCE THE ARTS AND SCIENCES OF RECORDING LATIN MUSIC 17 17 47 120 0 0 4194667 263570 36399872 37340638 225096 1758041 484690 531009 41304325 39893258 1742050 1875000 0 0 8072553 8929070 0 0 0 27630741 24894810 37445344 35698880 3858981 4194378 47001986 55461729 6316321 9147395 40685665 46314334 X THE LATIN ACADEMY OF RECORDING ARTS & SCIENCES, INC. WAS ESTABLISHED BY THE NATIONAL ACADEMY OF RECORDING ARTS & SCIENCES TO ADVANCE THE ARTS AND SCIENCES OF RECORDING AND TO FOSTER CREATIVE LEADERSHIP FOR ARTISTIC, CULTURAL, EDUCATIONAL, AND TECHNICAL PROGRESS IN THE RECORDING FIELD IN LATIN AMERICA AND THE LATIN COMMUNITY OF THE UNITED STATES. A PRIMARY ACTIVITY OF THE ORGANIZATION IS THE RECOGNITION OF OUTSTANDING CREATIVE AND TECHNICAL ACHIEVEMENTS IN THE RECORDING ARTS BY ARTISTS IN THE LATIN COMMUNITY WHO ARE DEEMED TO BE MOST WORTHY BY THEIR COLLEAGUES THROUGH AN ANNUAL PRESENTATION OF AWARDS. 0 0 THE LATIN GRAMMY AWARDS: AN ANNUAL EVENT THAT HONORS EXCELLENCE IN LATIN MUSIC AND THE CREATIVE/TECHNICAL PROFESSIONALS BEHIND IT, ADVANCING OUR CULTURAL AND EDUCATIONAL MISSION BY RECOGNIZING OUTSTANDING ACHIEVEMENT IN THE ARTS. THE 25TH ANNUAL LATIN GRAMMY AWARDS WERE HELD ON NOVEMBER 14, 2024, IN MIAMI, FLORIDA. THE LATIN GRAMMY PREMIERE EVENT: CEREMONY HELD PRIOR TO THE TELECAST THAT PRESENTS THE MAJORITY OF LATIN GRAMMY CATEGORIES AND SHOWCASES CREATORS ACROSS GENRES AND TECHNICAL FIELDS. THE 2024 LATIN GRAMMY PREMIERE TOOK PLACE ON NOVEMBER 14, 2024, IN MIAMI, FLORIDA. PERSON OF THE YEAR GALA: ANNUAL TRIBUTE GALA RECOGNIZING AN ARTIST'S CAREER AND CONTRIBUTIONS TO LATIN MUSIC, FEATURING PERFORMANCES BY PEERS AND CELEBRATING ARTISTIC EXCELLENCE. THE 2024 PERSON OF THE YEAR EVENT WAS HELD ON NOVEMBER 13, 2024, IN MIAMI BEACH, FLORIDA. 0 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 1 1 1 0 1 119 0 1 47 1 0 0 0 0 1 1 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 CA X JAVIER AGUIRRE 3055760036 3470 NW 82ND AVENUE SUITE 600 DORAL FL 331221028 ALOYSIO REIS SECRETARY 1.00 0.00 X X 0 0 0 EDUARDO HUTT CHAIRMAN OF THE BOARD 1.00 1.00 X X 0 0 0 ALEXANDRA LIOUTIKOFF TRUSTEE 1.00 0.00 X 0 0 0 CARLOS ALVAREZ TRUSTEE 1.00 0.00 X 0 0 0 EDUARDO BERGALLO TRUSTEE 1.00 0.00 X 0 0 0 EDUARDO WEISE TREASURER 1.00 0.00 X 0 0 0 ERIKA ENDER TRUSTEE 1.00 0.00 X 0 0 0 EVA CEBRIAN VICE CHAIRWOMAN 1.00 0.00 X 0 0 0 HARVEY MASON JR TRUSTEE 1.00 1.00 X 0 0 0 LAURA TESORIERO CHAIR EMERITUS 1.00 0.00 X 0 0 0 LUIS ALVAREZ FIOL TRUSTEE 1.00 0.00 X 0 0 0 MANUEL TEJADA TRUSTEE 1.00 0.00 X 0 0 0 MAUREEN REIDY TRUSTEE 1.00 0.00 X 0 0 0 PATRICIA CANTU TRUSTEE 1.00 0.00 X 0 0 0 RAFA SARDINA TRUSTEE 1.00 0.00 X 0 0 0 RICO LOVE TRUSTEE 1.00 0.00 X 0 0 0 TAMMY HURT TRUSTEE 1.00 0.00 X 0 0 0 MANUEL ABUD CEO 40.00 1.00 X 1105113 0 42362 LUIS DOUSDEBES CHIEF AWARDS, MEMBERSHIP & PRESERVATION OFFICER 40.00 0.00 X 621249 0 41283 JAVIER AGUIRRE CHIEF FINANCIAL OFFICER 40.00 0.00 X 562003 0 46732 GABRIEL ABAROA PRESIDENT EMERITUS 40.00 0.00 X 200879 0 23853 ENRIQUE PEREZ HEAD OF PARTNERSHIPS & CLIENT SOLUTIONS 40.00 0.00 X 425338 0 46841 AYLEEN FIGUERAS SENIOR VICE PRESIDENT, PRODUCTION 40.00 0.00 X 292039 0 38758 AIDA SCORZA SENIOR VICE PRESIDENT, AWARDS 40.00 0.00 X 438956 0 29434 IVELIESSE MALAVE SVP COMMUNICATIONS, ARTIST & INDUSTRY RELATIONS 40.00 0.00 X 320600 0 18741 LAURA DERGAL HEAD OF MARKETING & CONTENT DEVELOPMENT 40.00 0.00 X 287795 0 39330 ADRIANO HAUBENTHAL SR. DIRECTOR, PRODUCT MANAGEMENT 40.00 0.00 X 177169 0 50179 MELANIE GALARCE SR. DIRECTOR, PARTNERSHIPS 40.00 0.00 X 144532 0 46155 4575673 0 423668 20 0 1 0 REDROCK ENTERTAINMENT SERVICE LLC 435 S SAN FRANCISCO BLVD BURBANK CA 91502 EVENT PRODUCTION 1926600 MEDIAPRO US PRODUCTION SERVICES LLC 7291 NW 74TH STREET MIAMI FL 33166 EVENT PRODUCTION 829089 SERVICE AMERICA CORPORATION - SODEXO LIV 1 INDEPENDENCE POINTE SUITE 305 GREENVILLE SC 29615 CATERING COMPANY 763969 THE JOE LEWIS COMPANY INC 12400 WILSHIRE BLVD SUITE 1275 LOS ANGELES CA 90025 EVENT PRODUCTION 672966 FINE AND DANDY STUDIO SA DE CV C ANICETO ORTEGA 867 MEXICO CITY MX 03100 EVENT PRODUCTION 495642 19 263570 263570 TELECAST REVENUE 711320 19971065 19971065 SPONSORSHIP INCOME 711320 11158370 11158370 PROJECT INCOME (POTY) 711320 3799132 3799132 FOREIGN SYNDICATION INCOME 900099 1053685 1053685 STREAMING INCOME 900099 881000 881000 477386 477386 37340638 1538282 1538282 531009 531009 44321497 44101738 219759 219759 219759 39893258 26182268 0 13447420 1875000 4575673 2957169 221214 746289 428725 376420 250400 147445 1604315 387197 250498 851373 676477 732978 1077188 54123 247439 EVENT PRODUCTION COSTS 15967758 BRAND SUPPORT 1700000 MEMBERSHIP OUTREACH 217438 GRAMMY AND POTY TICKETS 161000 192761 35698880 948633 6005135 7069858 2954694 1940981 1161112 762097 722233 93987 39864 36279376 41324264 669151 3976660 47001986 55461729 3309644 3289424 197782 251279 2808895 5606692 6316321 9147395 X 40685665 46314334 40685665 46314334 47001986 55461729 4194378 1434291 0 X 0 1 X 1 0 0 1 0 36279375 2000000 3192333 147444 41324264 30334738 4000000 2071315 126678 36279375 32293980 -1834504 124738 30334738 28501678 3000000 890675 98373 32293980 26131652 2510247 140221 28501678 1.00000 0 0 485100 465913 19187 276997 256320 20677 39864 BARTER INVENTORY 74168 RECEIVABLE FROM AFFILIATES 14340 OPERATING LEASE RIGHT OF USE ASSET 3888152 3976660 INTERCOMPANY ACCOUNT PAYABLE TO NARAS 920605 ROYALTY PAYABLE TO NARAS 676477 INTERCOMPANY PAYABLE TO GRAMMY MUSEUM 80 INTERCOMPANY PAYABLE TO MUSICARES 101479 RIGHT OF USE LONG TERM LIABILITY 3840038 CURRENT PORTION OF OPERATING LEASE LIABILITIES 68013 5606692 X 41327549 1434291 1434291 39893258 0 39893258 35698880 0 35698880 0 35698880 PART X, LINE 2: LARAS ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) 740, INCOME TAXES. FASB ASC 740 PRESCRIBES A COMPREHENSIVE MODEL FOR HOW A COMPANY SHOULD RECOGNIZE, MEASURE, PRESENT, AND DISCLOSE IN ITS FINANCIAL STATEMENTS UNCERTAIN TAX POSITIONS THAT THE COMPANY HAS TAKEN, OR EXPECTS TO TAKE, ON A TAX RETURN. DURING THE YEARS ENDED JANUARY 31, 2025 AND 2024, LARAS DID NOT RECORD ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. 1 LATIN GRAMMY CULTURAL FOUNDATION 3470 NW 82ND AVE DORAL FL 33122 464770436 501(C)(3) 1575000 0 GENERAL SUPPORT FOR OPERATING EXPENSES GRAMMY MUSEUM FOUNDATION 800 WEST OLYMPIC BOULEVARD A245 LOS ANGELES CA 90015 261447714 501(C)(3) 200000 0 GENERAL SUPPORT FOR THE MUSEUM FOUNDATION PROGRAMS MUSICARES FOUNDATION INC 3030 OLYMPIC BOULEVARD SANTA MONICA CA 90404 954470909 501(C)(3) 100000 0 WILDFIRE RELIEF SUPPORT FOR LOS ANGELES AND SURROUNDING AREAS 3 0 PART I, LINE 2: THE LATIN ACADEMY OF RECORDING ARTS & SCIENCES REQUESTS AND ACCEPTS LETTERS FROM THE ORGANIZATIONS DESCRIBING THE ACTIVITIES FOR WHICH FUNDS WERE/WOULD BE USED. IN ADDITION, THE LATIN RECORDING ACADEMY WILL MAINTAIN ONGOING COMMUNICATION WITH THE ORGANIZATION AS TO THEIR PROGRESS IN SUPPORTING AND PROMOTING LATIN MUSIC GROWTH AND ACCOMPLISHMENTS. X 1 0 X X X X X 0 0 0 MANUEL ABUD CEO 680496 0 415053 0 9564 0 14079 0 28283 0 1147475 0 0 0 LUIS DOUSDEBES CHIEF AWARDS, MEMBERSHIP & PRESERVAT 560785 0 52400 0 8064 0 13000 0 28283 0 662532 0 0 0 JAVIER AGUIRRE CHIEF FINANCIAL OFFICER 499745 0 52400 0 9858 0 15249 0 31483 0 608735 0 0 0 ENRIQUE PEREZ HEAD OF PARTNERSHIPS & CLIENT SOLUTI 379374 0 42400 0 3564 0 7618 0 39223 0 472179 0 0 0 AIDA SCORZA SENIOR VICE PRESIDENT, AWARDS 423547 0 2400 0 13009 0 15250 0 14184 0 468390 0 0 0 IVELIESSE MALAVE SVP COMMUNICATIONS, ARTIST & INDUSTR 283958 0 32400 0 4242 0 15250 0 3491 0 339341 0 0 0 AYLEEN FIGUERAS SENIOR VICE PRESIDENT, PRODUCTION 260397 0 27400 0 4242 0 14667 0 24091 0 330797 0 0 0 LAURA DERGAL HEAD OF MARKETING & CONTENT DEVELOPM 256153 0 27400 0 4242 0 15250 0 24080 0 327125 0 0 0 ADRIANO HAUBENTHAL SR. DIRECTOR, PRODUCT MANAGEMENT 175590 0 1200 0 379 0 11488 0 38691 0 227348 0 0 0 GABRIEL ABAROA PRESIDENT EMERITUS 188549 0 0 0 12330 0 7846 0 16007 0 224732 0 0 0 MELANIE GALARCE SR. DIRECTOR, PARTNERSHIPS 143045 0 1200 0 287 0 6859 0 39296 0 190687 0 0 0 PART I, LINE 1A THE ORGANIZATION HAS A WRITTEN POLICY REGARDING PAYMENT OF FIRST CLASS AIR TRAVEL. THE ORGANIZATION'S TRAVEL POLICY ESTABLISHES THAT FOR AIR TRAVEL EXCEEDING 4 HOURS IN LENGTH, PURCHASE OF BUSINESS CLASS TICKETS IS ALLOWED FOR C-OFFICERS, VICE PRESIDENTS AND TRUSTEES. WHEN AVAILABLE, BARTER IS THE PREFERRED METHOD OF AIR TRAVEL. IF BUSINESS CLASS TICKETS ARE NOT AVAILABLE, FIRST CLASS TICKETS CAN BE PURCHASED. THE ORGANIZATION HAS DETERMINED THAT FIRST CLASS TRAVEL MEETS THE BUSINESS REQUIREMENT STANDARD FOR NOT TREATING THE BENEFIT AS COMPENSATORY ON FORMS W-2/1099. DAVINA ARYEH FORMER KEY EMPLOYEE 130316 SEE PART V 0 SCHEDULE L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (A) NAME OF PERSON: DAVINA ARYEH (D) DESCRIPTION OF TRANSACTION: LARAS HIRED DAVINA, A FORMER KEY EMPLOYEE, TO ASSIST IN DEVELOPING AND SECURING POTENTIAL SPONSORSHIPS AND/OR OTHER BUSINESS OPPORTUNITIES. FORM 990, PART VI, SECTION A, LINE 1A ALL MEMBERS OF THE BOARD HAVE THE SAME VOTING RIGHTS WITH THE EXCEPTION OF ONE TRUSTEE AD HONOREM. THE BOARD OF TRUSTEES HAS AUTHORIZED THE EXECUTIVE COMMITTEE TO ACT ON ITS BEHALF. ALL THE ACTIONS TAKEN BY THE EXECUTIVE COMMITTEE ARE RATIFIED BY THE BOARD DURING THE NEXT ANNUAL MEETING. THE EXECUTIVE COMMITTEE IS FORMED BY: CHAIRMAN OF THE BOARD, VICE CHAIRMAN, TREASURER, SECRETARY, CEO OF THE RECORDING ACADEMY AND CFO OF THE LATIN RECORDING ACADEMY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE CEO, AND AFTER HIS APPROVAL IT IS DISTRIBUTED TO THE MEMBERS OF THE FINANCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C THE LATIN RECORDING ACADEMY HAS A CONFLICT OF INTEREST POLICY THAT WAS APPROVED BY THE BOARD OF TRUSTEES DURING THE 2025 ANNUAL BOARD MEETING. UNDER THE TERMS OF THE CONFLICT OF INTEREST POLICY, ALL DIRECTORS, OFFICERS, AND KEY EMPLOYEES - DEFINED COLLECTIVELY AS PERSONS IN A POSITION OF TRUST - MUST SUBMIT ANNUAL CONFLICT OF INTEREST DISCLOSURE STATEMENTS AND PROMPTLY DISCLOSE, IN WRITING, ANY ACTUAL, POTENTIAL, OR APPARENT CONFLICTS OF INTEREST AS SOON AS THEY ARISE. DISCLOSURES ARE REVIEWED BY DESIGNATED AUTHORITIES - THE CHAIR, PRESIDENT/CEO, EXECUTIVE COMMITTEE, OR OTHER RELEVANT LEADERS - DEPENDING ON THE PERSON'S ROLE. INDIVIDUALS WITH ACTUAL OR POTENTIAL CONFLICTS MUST FULLY ABSTAIN FROM ANY DISCUSSIONS, DELIBERATIONS, DECISIONS, OR VOTES ON RELATED MATTERS. THEY ARE ALSO REQUIRED TO LEAVE THE ROOM DURING DELIBERATION AND VOTING TO PREVENT INFLUENCE. NON-WAIVABLE CONFLICTS ARE STRICTLY FORBIDDEN AND NOT PERMITTED UNDER ANY CIRCUMSTANCES. FOR WAIVABLE CONFLICTS, A FORMAL WRITTEN WAIVER, FOLLOWING FULL DISCLOSURE AND EVALUATION BY TOP LEADERSHIP, IS REQUIRED BEFORE PROCEEDING WITH ANY RELATIONSHIP OR TRANSACTION THAT MAY POSE A CONFLICT. FORM 990, PART VI, SECTION B, LINE 15A THE CEO'S CONTRACT IS APPROVED BY THE EXECUTIVE COMMITTEE AND THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE IS COMPRISED OF TRUSTEES AND OFFICERS, ALL OF WHOM HAVE SIGNIFICANT EXPERIENCE SERVING NON-PROFIT ORGANIZATIONS. THE EXECUTIVE COMMITTEE USES ITS KNOWLEDGE FROM EXPERIENCE, AND IN ADDITION, A COMPARISON OF COMPENSATION DATA FROM COMPARABLE ORGANIZATIONS IS USED. THE SALARY OF EACH EMPLOYEE IS REVIEWED AND APPROVED BY THE CEO AND ANY ANNUAL INCREASES FOR THE STAFF ARE DISCUSSED AND APPROVED BY THE FINANCE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 LARAS DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. THE LATIN GRAMMY CULTURAL FOUNDATION 3470 NW 82ND AVENUE SUITE 600 MIAMI FL 33122 464770436 SCHOLARSHIPS, RESEARCH & PRESERVATION GRANTS AND EDUCATIONAL EVENTS DE 501(C)(3) 11 THE LATIN ACADEMY OF RECORDING ARTS & SCIENCES INC 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 THE LATIN GRAMMY CULTURAL FOUNDATION B 1575000 CASH VALUE