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Nonprofiteer
← CARIBBEAN UNIVERSITY

Form 990 for tax year 2023

Filed by CARIBBEAN UNIVERSITY.

Totals

Total revenue
$16,415,414
Total expenses
$16,456,358
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$16,415,414
Investment income
$0
Other revenue
$0
Total assets, end of year
$50,865,893
Total liabilities, end of year
$26,159,418
Net assets or fund balances, end of year
$24,706,475
Program services expenses (Part IX)
$9,468,797
Management and general expenses
$6,987,561
Fundraising expenses
$0
Program service expenses (Part III)
$9,468,797

Program services were 57.5% 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.

  • 2a · Program service revenue: TUITION AND FEES

    total $14,102,174 · related or exempt $14,102,174 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: OTHER SOURCES

    total $2,313,240 · related or exempt $2,313,240 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $611,631 · program services $453,461 · management and general $158,170

  • 7 · Other salaries and wages

    total $5,542,124 · program services $4,108,906 · management and general $1,433,218

  • 9 · Other employee benefits

    total $923,581 · program services $606,867 · management and general $316,714

  • 11a · Fees: management

    total $1,097,979 · program services $26,205 · management and general $1,071,774

  • 12 · Advertising and promotion

    total $747,440 · program services $747,440

  • 16 · Occupancy

    total $866,563 · program services $654,524 · management and general $212,039

  • 19 · Conferences, conventions and meetings

    total $1,105,471 · program services $874,455 · management and general $231,016

  • 22 · Depreciation, depletion and amortization

    total $1,440,315 · program services $1,087,885 · management and general $352,430

  • 23 · Insurance

    total $621,207 · program services $469,204 · management and general $152,003

  • 24a · Other expenses: MAINTENANCE

    total $556,051 · program services $439,850 · management and general $116,201 · fundraising $0

  • 24b · Other expenses: SECURITY

    total $664,078 · program services $0 · management and general $664,078 · fundraising $0

  • 24c · Other expenses: SCHOLARSHIPS AND ESTIPENDS

    total $578,568 · program services $0 · management and general $578,568 · fundraising $0

  • 24d · Other expenses: SOFWARE AND LICENCES

    total $752,392 · program services $0 · management and general $752,392 · fundraising $0

  • 24e · All other expenses

    total $948,958 · management and general $948,958

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,813,518 · end of year $8,049,920

  • 4 · Accounts receivable

    beginning of year $2,403,542 · end of year $3,554,479

  • 9 · Prepaid expenses and deferred charges

    beginning of year $253,223 · end of year $329,383

  • 10a · Land, buildings and equipment: cost or other basis

    $68,103,873

  • 10b · Land, buildings and equipment: accumulated depreciation

    $29,815,690

  • 10c · Land, buildings and equipment, net

    beginning of year $38,756,296 · end of year $38,288,183

  • 15 · Other assets

    beginning of year $222,882 · end of year $643,928

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,341,136 · end of year $2,208,539

  • 19 · Deferred revenue

    end of year $4,184,202

  • 23 · Secured mortgages and notes payable

    beginning of year $19,360,906 · end of year $19,766,677

  • 27 · Net assets without donor restrictions

    beginning of year $24,617,893 · end of year $24,576,949

  • 28 · Net assets with donor restrictions

    beginning of year $129,526 · end of year $129,526

Mission and programs · 2023

Mission

Provide Higher Education to sub-graduated, graduated and doctoral students under degree programs.

Activities or mission (Part I)

Provide Higher Education to sub-graduated, graduated, and doctoral students under degree programs.

  • Educational services for 3450 undergraduate and 1075 graduate students.

    Expenses $9,468,797 · Revenue $14,102,174

As filed on the 2023 return.

Listed in Part VII

  • Ana E Cucurella

    EXECUTIVE PRESIDENT

    Total calculated
    $163,100
    From this org
    $163,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,100
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $163,100

  • Jesus Santiago

    ACADEMIC VICE PRESIDET

    Total calculated
    $127,000
    From this org
    $127,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $127,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $127,000

  • Hector Gracia Gracia

    VP FINANZAS

    Total calculated
    $105,200
    From this org
    $105,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $105,200
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $105,200

  • Victor Adorno Badillo

    EXECUTIVE DIRECTOR

    Total calculated
    $73,800
    From this org
    $73,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Elena Garcia

    COMPLIANCE DIRECTOR

    Total calculated
    $71,600
    From this org
    $71,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Lilliam Matos Freytes

    VP PLANNNIG AND DEVELOPMENT

    Total calculated
    $70,931
    From this org
    $70,931
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Keneth Oliveras

    SECRETARY OF BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Teresita Rivera

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Julio Cay

    PRESIDENT OF THE BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Herbert Mattei

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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 · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Written employment contract
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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)

Schedule J, Part I, Line 1a
THE RESIDENT OF THE PRESIDENTE IS IN A HOUSE POPERTY OF THE UNIVERSITY.
Schedule J, Part I, Line 3
THE PRESIDENT HAS A WRITTEN CONTRACT WITH THE ORGANIZATION

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
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202531359349309278

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