Hola Carolina EIN 82-2943079 Form 990 (PDF) Claim this org

Hola Carolina

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Connects cultures, embraces diversity, and builds economically vibrant communities. For fiscal year 2024 it reported $829K in revenue, $708K in expenses, and $730K in net assets.Pt I

Type
Public charity (501(c)(3)) · Arts & Culture
Location
Asheville, NC
Website
holacarolina.org
Filings
5 on file (2020–2024)
Revenue
$829KFY2024
Expenses
$708K
Net assets
$730K
People
7
Filings
5
Updates
0
More identity details & actions ⌄
EIN  82-2943079 Public charity (501(c)(3)) Asheville, NC
Form 990 (PDF)
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Size
$100K–1M
What they do
Connects cultures, embraces diversity, and builds economically vibrant communities.
Leadership
Adriana Chavela-Falcon · Executive Director · $75K
Money in and out
$829K revenue, $708K expenses
Bottom line
86% program efficiency
Where the money goes · FY2024
Total revenue
$829K
Pt VIII · Ln 12
Total expenses
$708K
Pt IX · Ln 25
Net assets
$730K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $121K
Where spending went · Part IX cols B–D
Program services $0.86 Management & general $0.11 Fundraising $0.03
Program efficiency
86%
of spending reaches programs▲ +2% vs prior filing year
Operating runway
8.7mo
months of highly liquid reserves at operating expense rate▲ +23% vs prior filing year
Surplus margin
+15%
revenue over expenses, this year▲ +150% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$829K
FY2024▲ +85%
Expenses
$708K
FY2024▲ +22%
Total assets
$745K
FY2024▲ +21%
Total liabilities
$15K
FY2024▲ +84%
Total revenue
$829K
Pt VIII · Ln 12
Total expenses
$708K
Pt IX · Ln 25
Net assets
$730K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$121K
Total assetsPt X · Ln 16$745K
Program-expense ratioPt IX · col B86%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 45
Mission & Programs · Part III

Where the work happens

3 program services account for $610K of program spending, described in the organization's own filed words · FY2024.
01

Equally Informed Initiative The Equally Informed Initiative led by Hola Carolina delves into and amplifies the diverse voices within our community. Our dedicated communications team bridges gaps in news coverage, counteracts misinformation, and enhances communication channels for the Spanish-speaking population.

$610Kprogram expense
02

Education & Outreach Hola Carolinas programs serve as a cultural bridge, facilitating communication between government entities, businesses, and historically marginalized communities. Disaster Relief In the wake of Hurricane Helene, a wide range of relief programs have been launched to help families and communities - offering everything…

Pt IX · col B
03

Equity in Health for Immigrant Communities Equity in Health for Immigrant Communities, made significant strides in promoting health equity. Our Community Health Workers concentrated on tackling food insecurities and guaranteeing accessible health coverage for immigrant populations.

Pt IX · col B

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CHola Carolina
EINHdr · item D82-2943079
Principal addressHdr · item CAsheville, NC
WebsiteHdr · item Jholacarolina.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A23)
Ruling yearIRS BMFOct 2017

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
Independent voting membersPt VI · Ln 1b5
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$75,000Pt VII · Sec A
Operations Director
$75,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Ronald J Stamey$75,000$75,000$139,042$140,000
Adriana Chavela-Falcon$75,000$75,000$12,375
Ricardo Bello Ball$41,077
Ricardo Bello Ball$1,140
Vanessa Garcia$600

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$799K · 96%
Program service revenue$30K · 4%
Contributions & grants96%$799K
Program service revenue4%$30K
Total revenueLn 12$829K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.86 Management & general $0.11 Fundraising $0.03
Program services86%$610K
Management & general11%$78K
Fundraising3%$20K
Total functional expensesLn 25$708K

Balance Sheet

Part X · end of year
CashLn 1$511K
Total assetsLn 16$745K
Total liabilitiesLn 26$15K
Total net assetsLn 32$730K
Months of cash on handcomputed8.7

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $511K · Operating expenses/yr $708K
8.7 months
Where the money goes
Program services
Program services $610K · Total expenses $708K
86%
Management & General
Management & general $78K · Total expenses $708K
11%
Fundraising
Fundraising $20K · Total expenses $708K
3%
Cost to raise $1
Fundraising expense (3-yr avg) $19K · Solicited contributions (3-yr avg) $648K
$0.03 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $799K · Total revenue $829K
96%
Government reliance
Government grants — · Total revenue $829K
Earned-income share
Program service revenue $30K · Total revenue $829K
4%
Investment reliance
Investment income $0 · Total revenue $829K
0%
Program self-sufficiency
Program service revenue $30K · Total expenses $708K
4%
Growth & trend
Revenue growth (YoY)
This year $829K · Prior year $449K
+85%
Revenue CAGR
FY2020 $1.0M · FY2024 $829K
-5%
Net-asset trend (YoY)
End of year $730K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $829K · Expenses $708K
+15%
Liabilities-to-Assets
Total liabilities — · Total assets $745K
Net-asset ratio
Net assets $730K · Total assets $745K
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $745K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Adriana Chavela-Falcon · Reported title Executive Director · Highest reported compensation $75K · Total expenses $708K
11%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $196K · Total expenses $708K
28%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 86%
Overhead ratio 11%
Fundraising cost ratio 3%
Revenue growth 85%
Accounting fee ratio 0.4%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Manna Food BankFY2024$50K
Total grants receivedfrom 13 funders$789K
See all 13 funders →
Grants paid · 20 grants · $545K · 2021–2024
Unitemized GrantFY2024$5,155
Unidex WncFY2023$30,000
Unidx WncFY2022$96,840
Pisgah Legal ServicesNC · FY2022$40,000
UneteNC · FY2022$25,000
Bounty & SoulNC · FY2022$25,000
El Puente HispanoNC · FY2022$15,000
Unitemized GrantFY2021$29,914
UneteNC · FY2021$20,000
Beloved AshevilleNC · FY2021$20,000
Vecinos INCNC · FY2021$15,000
See all 20 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$829K revenue · viewing · ⤓ 990 PDF
FY2023$449K revenue · ⤓ 990 PDF
FY2022$880K revenue · ⤓ 990 PDF
FY2021$805K revenue · ⤓ 990 PDF
FY2020$1.0M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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