Program areas at Hispanic Business Initiative Fund
One-on-one consulting: hbif staff meet with Business owners to assess the viability of the Business idea and the job creation potential of the Business venture. In-house staff advise clients as to the general Business practices, financials, licenses/permits, and access to capital, among others. In-house consulting is provided bilingual and free of charge to the Business owner. Hbif assisted 2,402 Business owners across the state of Florida.
Entrepreneurial grants: hbif's grants allow startups and existing businesses to receive advanced Business development services at no or minimal cost, completed by subcontracted providers paid by hbif. The grants offered by hbif include: legal structure assessment, accounting assessment, Business plan development, marketing plan, corporate branding, web page creation, quickbooks training, and loan application preparation. Hbif awarded entrepreneurial grants to 247 businesses.
Educational assistance: orientation sessions provide basic information about how to start a Business. The Hispanic Business workshop series offers training on specific topics that assist entrepreneurs in making critical decisions to achieve success. Hbif had over 2,696 attendees to the educational sessions offered in spanish and free of charge.
Who funds Hispanic Business Initiative Fund
Grants from foundations and other nonprofits
Personnel at Hispanic Business Initiative Fund
| Name | Title | Compensation | Date of data |
|---|
| Augusto Sanabria | Chief Executive Officer and President | $244,703 | 2023-07-11 |
| Luis Otero | Chief Financial Officer | $153,342 | 2024-04-09 |
| Fabian Yepez | Vice President - West Coast Florida | $100,381 | 2022-09-30 |
| Myrna Sonora | Vice President - South Florida | $124,475 | 2022-09-30 |
| Alexander Sueiro | Treasurer | $0 | 2022-09-30 |
| ...and 10 more key personnel |
Financials for Hispanic Business Initiative Fund
| Revenues | FYE 09/2022 | FYE 09/2021 | % Change |
|---|
| Total grants, contributions, etc. | $3,285,035 | $3,813,094 | -13.8% |
| Program services | $0 | $0 | - |
| Investment income and dividends | $51,310 | $27,781 | 84.7% |
| Tax-exempt bond proceeds | $0 | $0 | - |
| Royalty revenue | $0 | $0 | - |
| Net rental income | $0 | $0 | - |
| Net gain from sale of non-inventory assets | $0 | $0 | - |
| Net income from fundraising events | $-42,015 | $-18,344 | -129% |
| Net income from gaming activities | $0 | $0 | - |
| Net income from sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $1,150 | $0 | 999% |
| Total revenues | $3,295,480 | $3,822,531 | -13.8% |
Organizations like Hispanic Business Initiative Fund
| Organization | Type | Location | Revenue |
|---|
| Arizona Hispanic Chamber of Commerce Foundation Corporation | 501(c)(3) | Phoenix, AZ | $1,741,555 |
| Latino Business Action Network (LBAN) | 501(c)(3) | San Jose, CA | $2,061,825 |
| VietAID | 501(c)(3) | Dorchester, MA | $1,939,615 |
| Great Lakes Women's Business Council | 501(c)(3) | Livonia, MI | $2,702,361 |
| Women's Business Enterprise Center East | 501(c)(3) | Philadelphia, PA | $1,768,887 |
| Chicagoland Entrepreneurial Center (CEC) | 501(c)(3) | Chicago, IL | $9,008,560 |
| Tampa Bay Wave | 501(c)(3) | Tampa, FL | $1,625,044 |
| Mid-South Minority Council Tadp | 501(c)(3) | Memphis, TN | $945,392 |
| Carolina Small Business Development Fund | 501(c)(3) | Raleigh, NC | $6,416,650 |
| Daytonmiami Valley Entrepreneurs Center | 501(c)(3) | Dayton, OH | $5,517,965 |
Data update history
August 25, 2023
Posted financials
Added Form 990 for fiscal year 2022
August 22, 2023
Updated personnel
Identified 8 new personnel
August 10, 2023
Posted financials
Added Form 990 for fiscal year 2021
June 12, 2023
Received grants
Identified 7 new grant, including a grant for $500,000 from Citi Foundation Nonprofit Types
Civic / social organizationsBusiness and community development organizationsHeadquarter / parent organizationsCharities
Issues
HispanicBusiness and industry
Characteristics
Fundraising eventsState / local levelReceives government fundingTax deductible donations
General information
- Address
- 3201 E Colonial Dr Suite A20
- Orlando, FL 32803
- Metro area
- Orlando-Kissimmee-Sanford, FL
- County
- Orange County, FL
- Website URL
- prosperausa.org/Â
- Phone
- (407) 428-5872
IRS details
- EIN
- 59-3341405
- Fiscal year end
- September
- Taxreturn type
- Form 990
- Year formed
- 1995
- Eligible to receive tax-deductible contributions (Pub 78)
- Yes
Categorization
- NTEE code, primary
- S43: Management Services for Small Business, Entrepreneurs
- NAICS code, primary
- 813410: Civic and Social Organizations
- Parent/child status
- Central organization
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