2024-11-15T14:07:21-06:00 2023-12-31 390974031 WEGNER CPAS LLP 230 PARK AVE FL 3 NEW YORK NY 101690005 990 2023-01-01 863684224 SOMOSVC SOMO 6265528469 3277 S WHITE ROAD 900 SAN JOSE CA 95148 EDDIE LOPEZ TREASURER 6265528469 2024-11-15 1 0 YIGIT UCTUM CPA P01269549 2125511724 2024-11-14 2023 2024-10-15 13:58:12Z MARIELA SALAS 3277 S WHITE ROAD 900 SAN JOSE CA 95148 509844 0 X SOMOS.VC X 2021 CA INCREASE THE REPRESENTATION OF LATINX PROFESSIONALS IN VENTURE CAPITAL, HELP LATINX VENTURE INVESTORS BUILD THEIR CAREERS AND NETWORKS, AND IMPROVE ACCESS TO CAPITAL FOR LATINX-LED VENTURE FIRMS. WHEN VENTURE INVESTORS ARE EMPOWERED TO SHOW UP AS THEIR AUTHENTIC SELVES, THE FLOW OF CAPITAL FROM LIMITED PARTNERS TO VENTURE CAPITALISTS AND ULTIMATELY TO STARTUP FOUNDERS BECOMES MORE DIVERSIFIED IMPACTFUL, AND REPRESENTATIVE OF U.S. DEMOGRAPHICS. 13 12 2 25 0 0 140000 477010 12141 32834 0 0 0 0 152141 509844 0 0 0 0 47270 290416 0 0 32661 73248 432855 120518 723271 31623 -213427 583415 480127 5275 115414 578140 364713 WE AIM TO INCREASE THE REPRESENTATION OF LATINO AND LATINA ("LATINX") PROFESSIONALS IN VENTURE CAPITAL, HELP LATINX VENTURE INVESTORS BUILD THEIR CAREERS AND NETWORKS, AND IMPROVE ACCESS TO CAPITAL FOR LATINX-LED VENTURE FIRMS. 0 0 611599 0 32834 DURING THE TAX YEAR, THE ORGANIZATION HAD A FELLOWSHIP PROGRAM PROVIDING FREE LECTURES TO LATINX PROFESSIONALS INTERESTED IN ENTERING THE VENTURE CAPITAL INDUSTRY AND A MENTORSHIP PROGRAM CONNECTING JUNIOR LATINX VENTURE PROFESSIONALS WITH SENIOR VENTURE PROFESSIONALS FOR MENTORSHIP. THE ORGANIZATION ALSO HAD A REGULAR NEWSLETTER, PRIVATE TWITTER FORUM, AND SLACK GROUPS FOCUSED ON INFORMING PROFESSIONALS ABOUT JOB OPPORTUNITIES IN VENTURE CAPITAL AND OTHER PROFESSIONAL DEVELOPMENT OPPORTUNITIES, WITH A FOCUS ON LATINX PROFESSIONALS, AN EVENT FOR LATINX EMERGING MANAGERS TO SHARE BEST FUNDRAISING PRACTICES, EDUCATIONAL VIRTUAL PROGRAMMING EVENTS, AND INDUSTRY SPECIFIC EDUCATIONAL PANELS. 611599 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 2 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 12 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 0 0 CA X BDO FMA 2125761400 600 THIRD AVE 3RD FL NEW YORK NY 10016 MARIELA SALAS EXECUTIVE DIRECTOR/SECRETARY 40.00 X X 152126 0 22672 RAMI REYES PRESIDENT 1.00 X X 0 0 0 MARIA SALAMANCA VICE PRESIDENT 1.00 X X 0 0 0 ALAN ARTURO DAY TREASURER 1.00 X X 0 0 0 VANESSA LARCO DIRECTOR 1.00 X 0 0 0 LISETTE TELLEZ DIRECTOR 1.00 X 0 0 0 MARJORIE LOPEZ DIRECTOR 1.00 X 0 0 0 AL GUERRERO DIRECTOR 1.00 X 0 0 0 JOMAYRA HERRERA DIRECTOR 1.00 X 0 0 0 ASHLEY RAMIREZ BALLA DIRECTOR 1.00 X 0 0 0 NICOLE DETOMMASO DIRECTOR 1.00 X 0 0 0 SAMUEL GARCIA DIRECTOR 1.00 X 0 0 0 SERGIO MONSALVE DIRECTOR 1.00 X 0 0 0 152126 0 22672 1 0 1 0 0 477010 477010 PROGRAM SERVICE REVENUE 900099 32834 32834 32834 509844 32834 0 0 174798 131098 26220 17480 92927 69695 13939 9293 1765 1324 264 177 3014 2261 452 301 17912 13434 2687 1791 32563 32563 52348 52348 4730 4210 520 7472 5983 75 1414 12290 10938 1352 3328 2496 499 333 41080 41080 1078 1078 PROGRAM EVENTS 276732 276732 MEMBERSHIP AND DUES 1234 1234 723271 611599 79011 32661 333415 379758 250000 100369 583415 480127 5275 50414 0 65000 5275 115414 X 353140 364713 225000 0 578140 364713 583415 480127 -213427 0 X 0 0 0 X 600000 52500 140000 477010 1269510 600000 52500 140000 477010 1269510 941880 327630 1269510 52304 X PART II, SHORT YEAR EXPLANATION: THE 2020 COLUMN ON SCHEDULE A, PART II REPRESENTS THE SHORT TAX YEAR BEGINNING MARCH 1, 2021 AND ENDING SEPTEMBER 30, 2021. THE 2022 COLUMN ON SCHEDULE A, PART II REPRESENTS THE SHORT TAX YEAR BEGINNING OCTOBER 1, 2022 AND ENDING DECEMBER 31, 2022. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 0 0 0 0 0 0 0 0 MARIELA SALAS EXECUTIVE DIRECTOR/SECRETARY 121631 0 30495 0 0 0 6000 0 16672 0 174798 0 0 0 FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE EXECUTIVE DIRECTOR, PRESIDENT, AND TREASURER WILL REVIEW THE FORM 990 BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL OFFICERS AND DIRECTORS ARE REQUIRED TO SIGN A CONFLICT OF INTEREST POLICY STATEMENT ON AN ANNUAL BASIS. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE REPORTED CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH GOVERNING BODY DELEGATED POWERS. AFTER DISCLOSURE OF THE INTEREST AND ALL MATERIAL FACTS, THE INTERESTED PERSON SHALL LEAVE THE GOVERNING BODY OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON BY THE REMAINING DIRECTORS OR COMMITTEE MEMBERS. THE GOVERNING BODY OR DESIGNATED COMMITTEE CONDUCTS PERIODIC REVIEWS TO ENSURE THAT THE ORGANIZATION DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS. A CONFLICTED MEMBER IS PROHIBITED FROM PARTICIPATING IN THAT DELIBERATION AND DECISION. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE DIRECTOR'S SALARY WAS DETERMINED BY THE BOARD OF DIRECTORS BASED ON PUBLIC RECORDS FOR COMPARABLE ROLES AT OTHER NONPROFITS IN ADDITION TO A STANDARD BUDGET TO SALARY RATIO. THIS PROCESS WAS LAST UNDERTAKEN IN 2022. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.