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EIN 86-3684224

Somosvc

IRS 501(c) type
501(c)(3)
Num. employees
2
City
San Jose
State
California
Year formed
2021
Most recent tax filings
2023-12-01
NTEE code, primary
S30: Economic Development
Description
Somosvc aims to 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 through fellowship and mentorship programs. The organization provides free lectures to Latinx professionals interested in entering the venture capital industry and connects junior Latinx venture professionals with senior venture partners. Somosvc is located in San Jose, CA.
Also known as...
Latinxvc
Total revenues
$509,844
2023
Total expenses
$723,271
2023
Total assets
$480,127
2023
Num. employees
2
2023

Program areas at Somosvc

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.

Who funds Somosvc

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
John D and Catherine T MacArthur FoundationTo Support the Development of A Comprehensive Strategic Plan$100,000
Chavez Family FoundationGeneral Purpose$40,000
Schwab Charitable FundPublic, Societal Benefit$10,000

Personnel at Somosvc

NameTitleCompensation
Mariela SalasExecutive Director and Secretary$69,593
Hector RamosTreasurer$0
Rami ReyesPresident$0
Maria SalamancaVice President$0

Financials for Somosvc

RevenuesFYE 12/2023
Total grants, contributions, etc.$477,010
Program services$32,834
Investment income and dividends$0
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$509,844

Form 990s for Somosvc

Fiscal year endingDate received by IRSFormPDF link
2023-122024-11-15990View PDF
2022-122023-05-15990View PDF
2022-092023-05-12990View PDF
2021-092023-05-12990View PDF
Data update history
November 26, 2024
Received grants
Identified 1 new grant, including a grant for $40,000 from Chavez Family Foundation
December 24, 2023
Received grants
Identified 1 new grant, including a grant for $20,000 from Mitchell Kapor Foundation
July 21, 2023
Posted financials
Added Form 990 for fiscal year 2022
July 9, 2023
Posted financials
Added Form 990 for fiscal year 2022
July 9, 2023
Posted financials
Added Form 990 for fiscal year 2021
Nonprofit Types
Professional associationsBusiness and community development organizationsCharities
Issues
Community improvementHispanicEconomic developmentBusiness and industry
Characteristics
Tax deductible donationsAccepts online donations
General information
Address
3277 S White Rd 900
San Jose, CA 95148
Metro area
San Jose-Sunnyvale-Santa Clara, CA
County
Santa Clara County, CA
Website URL
somos.vc/ 
Phone
(626) 552-8469
IRS details
EIN
86-3684224
Fiscal year end
December
Taxreturn type
Form 990
Year formed
2021
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S30: Economic Development
NAICS code, primary
813920: Professional Associations
Parent/child status
Independent
California AB-488 details
AB 488 status
May Operate or Solicit for Charitable Purposes
Charity Registration status
Current - In Process
FTB status revoked
Revoked
AG Registration Number
CT0287189
FTB Entity ID
4721842
AB 488 data last updated ("as-of") date
2025-01-15
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