Form 990 for tax year 2024
Filed by UNIVERSIDAD POLITECNICA DE PUERTO RICO INC.
Totals
- Total revenue
- $54,313,715
- Total expenses
- $43,592,634
- Contributions and grants received
- $6,673,721
- Grants paid
- $545,044
- Program service revenue
- $42,912,112
- Investment income
- $2,476,180
- Other revenue
- $2,251,702
- Total assets, end of year
- $131,443,875
- Total liabilities, end of year
- $8,471,503
- Net assets or fund balances, end of year
- $122,972,372
- Program services expenses (Part IX)
- $27,290,382
- Management and general expenses
- $16,302,252
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $27,290,382
Program services were 62.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$6,673,721
-
2a · Program service revenue: TUITION AND FEES
total $42,912,112 · unrelated business $0 · excluded $0
-
3 · Investment income
total $2,060,745 · unrelated business $0 · excluded $0
-
7a · Gross sales of assets other than inventory
securities $11,625,480 · other assets $1,508,896
-
7b · Less cost or other basis and sales expenses
securities $11,333,866 · other assets $1,385,075
-
7c · Gain or loss
securities $291,614 · other assets $123,821
-
7d · Net gain or loss
total $415,435 · related or exempt $415,435 · unrelated business $0 · excluded $0
-
11a · Other revenue: RENTAL INCOME
total $521,118 · related or exempt $521,118 · unrelated business $0 · excluded $0
-
11d · All other revenue
total $1,730,584 · related or exempt $1,730,584 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$2,251,702
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $545,044 · program services $545,044
-
5 · Compensation of officers, directors and key employees
total $236,057 · program services $188,846 · management and general $47,211 · fundraising $0
-
7 · Other salaries and wages
total $20,002,559 · program services $16,002,048 · management and general $4,000,511 · fundraising $0
-
8 · Pension plan contributions
total $262,159 · program services $209,728 · management and general $52,431 · fundraising $0
-
9 · Other employee benefits
total $630,603 · program services $504,482 · management and general $126,121 · fundraising $0
-
10 · Payroll taxes
total $1,472,247 · program services $1,177,798 · management and general $294,449 · fundraising $0
-
11b · Fees: legal
total $85,424 · program services $0 · management and general $85,424 · fundraising $0
-
11c · Fees: accounting
total $175,631 · program services $0 · management and general $175,631 · fundraising $0
-
11f · Fees: investment management
total $233,605 · program services $0 · management and general $233,605 · fundraising $0
-
11g · Fees: other
total $4,853,233 · program services $0 · management and general $4,853,233 · fundraising $0
-
12 · Advertising and promotion
total $1,815,631 · program services $1,452,505 · management and general $363,126 · fundraising $0
-
13 · Office expenses
total $455,484 · program services $364,388 · management and general $91,096 · fundraising $0
-
14 · Information technology
total $247,170 · program services $197,736 · management and general $49,434 · fundraising $0
-
17 · Travel
total $398,845 · program services $319,076 · management and general $79,769 · fundraising $0
-
20 · Interest
total $85,506 · program services $68,405 · management and general $17,101 · fundraising $0
-
22 · Depreciation, depletion and amortization
total $3,995,330 · program services $0 · management and general $3,995,330 · fundraising $0
-
23 · Insurance
total $1,391,548 · program services $1,113,239 · management and general $278,309 · fundraising $0
-
24a · Other expenses: RENT EXPENSE
total $341,042 · program services $272,834 · management and general $68,208 · fundraising $0
-
24b · Other expenses: AUTO EXPENSE
total $46,532 · program services $37,226 · management and general $9,306 · fundraising $0
-
24c · Other expenses: BANK CHARGES
total $285,793 · program services $0 · management and general $285,793 · fundraising $0
-
24d · Other expenses: FACILITIES AND EQUIPMENT MAINTENANCE
total $497,188 · program services $397,751 · management and general $99,437 · fundraising $0
-
24e · All other expenses
total $5,536,003 · program services $4,439,276 · management and general $1,096,727 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $26,822,875 · end of year $33,374,646
-
3 · Pledges and grants receivable
beginning of year $1,724,000 · end of year $1,436,920
-
4 · Accounts receivable
beginning of year $353,493 · end of year $419,794
-
5 · Loans and receivables from officers and key people
beginning of year $157,377 · end of year $481,488
-
8 · Inventories for sale or use
beginning of year $8,321 · end of year $5,590
-
9 · Prepaid expenses and deferred charges
beginning of year $2,066,112 · end of year $2,303,282
-
10a · Land, buildings and equipment: cost or other basis
$131,741,276
-
10b · Land, buildings and equipment: accumulated depreciation
$68,497,641
-
10c · Land, buildings and equipment, net
beginning of year $63,996,498 · end of year $63,243,635
-
11 · Investments: publicly traded securities
beginning of year $24,400,433 · end of year $26,423,165
-
15 · Other assets
beginning of year $3,105,416 · end of year $3,755,355
-
17 · Accounts payable and accrued expenses
beginning of year $4,659,722 · end of year $4,329,175
-
19 · Deferred revenue
beginning of year $1,724,348 · end of year $1,706,534
-
23 · Secured mortgages and notes payable
beginning of year $2,060,299
-
25 · Other liabilities
beginning of year $1,850,211 · end of year $2,435,794
-
27 · Net assets without donor restrictions
beginning of year $110,188,874 · end of year $120,157,895
-
28 · Net assets with donor restrictions
beginning of year $2,151,071 · end of year $2,814,477
Mission and programs · 2024
Mission
THE UNIVERSITY IS A PRIVATE, NON-PROFIT, EDUCATIONAL INSTITUTION WITH APPROXIMATELY 4,500 STUDENTS LOCATED IN HATO REY, PUERTO RICO, MIAMI AND ORLANDO, FLORIDA. THE UNIVERSITY OFFERS SPECIALIZED COURSES IN LAND SURVEYING AND MAPPING, BACHELORS OF SCIENCE DEGREE IN CIVIL ENGINEERING, INDUSTRIAL ENGINEERING, ELECTRICAL ENGINEERING, MECHANICAL ENGINEERING, AMONG OTHERS.
-
COLLEGES PROVISION OF HIGHER EDUCATION TO STUDENTS UNDER DEGREE PROGRAMS.
Expenses $27,290,382 · Grants $545,044 · Revenue $42,912,112
As filed on the 2024 return.
Listed in Part VII
-
Vanessa M Mullet SanchezVANESSA M MULLET SANCHEZ
SECRETARY BOARD OF TRUSTEES
- Total calculated
- $24,000
- From this org
- $24,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10
-
Francisco Martinez UbarriFRANCISCO MARTINEZ UBARRI
PRESIDENT BOARD OF TRUSTEES
- Total calculated
- $0
- Hours/week
- 10
-
Ricardo Lefranc MoralesRICARDO LEFRANC MORALES
VICEPRESIDENT BOARD OF TRUSTEES
- Total calculated
- $0
- Hours/week
- 10
-
Rafael Mullet SanchezRAFAEL MULLET SANCHEZ
TREASURER BOARD OF TRUSTEES
- Total calculated
- $0
- Hours/week
- 10
-
Luis E Gonzalez CognetLUIS E GONZALEZ COGNET
TRUSTEE
- Total calculated
- $0
- Hours/week
- 10
-
Maria M Melendez RamosMARIA M MELENDEZ RAMOS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 10
-
Luis Fullana MoralesLUIS FULLANA MORALES
TRUSTEE
- Total calculated
- $0
- Hours/week
- 10
-
Ricardo Jaen PresnoRICARDO JAEN PRESNO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 10
-
Angel Gonzalez CastroANGEL GONZALEZ CASTRO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 10
-
Sylvia B Ugarte AraujoSYLVIA B UGARTE ARAUJO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 10
-
Ernesto Vazquez MartinezERNESTO VAZQUEZ MARTINEZ
PRESIDENT
- Total calculated
- $234,800
- From this org
- $234,800
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $234,800
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $30,000
- Filer's total
- $264,800
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 1a · Travel for companions
- 2 · Substantiation required before reimbursing expenses
- 4b · Supplemental nonqualified retirement plan
Answered no
- 1b · Written policy on the line-1a expenses
- 4a · Severance or change-of-control payment
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- Pt I Line 1a
- THESE EXPENDITURES ARE MISCELLANEOUS REPRESENTATION EXPENSES AND ARE RELATED ONLY TO THE PRESIDENT WHICH ARE INFORMALLY DISCUSSED IN THE NORMAL COURSE OF OPERATIONS.
- Pt I Line 1b
- REFER TO EXPLANATION IN PART I LINE 1a.
- Pt I Line 4b
- On September 16, 2022, the University established a non-qualified deferred compensation plan (the Plan) for the benefit of its President and approved by the Board of Trustees. As part of the benefits under the Plan, the University will provide an annual contribution equivalent to sixty percent (60%) of the Presidents annual base salary (the Annual Contribution). The contributions are invested in marketable securities held in a brokerage account. In addition, the University will provide for a one-time contribution, only effective for the first year of the Plan participation, equivalent to sixty percent (60%) of the Presidents annual base salary corresponding to calendar years from 2019 to 2021 (the Initial Contribution). Accordingly, the benefits under the Plan are composed of the Annual Contribution, the Initial Contribution and the income earned as a result of the investment from said contributions. The Plan establishes that the deferred compensation is considered additional compensation in addition to the annual base salary. Contributions to the Plan are not subject to income tax until they are distributed to the President.In addition, the Plan establishes the vesting rights with respect to the Annual Contribution and the income earned as a result of the investment from said contributions, in which the President will become one hundred percent (100%) vested after ten years of service starting from January 1, 2022.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 24 March 2026
- IRS schema version
- 2024v5.2
- Source object
- 202631019349300403
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