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Nonprofiteer
← UNIVERSIDAD POLITECNICA DE PUERTO RICO INC

Form 990 for tax year 2023

Filed by UNIVERSIDAD POLITECNICA DE PUERTO RICO INC.

Totals

Total revenue
$52,346,501
Total expenses
$43,621,343
Contributions and grants received
$8,220,277
Grants paid
$567,378
Program service revenue
$39,922,639
Investment income
$1,491,624
Other revenue
$2,711,961
Total assets, end of year
$122,634,525
Total liabilities, end of year
$10,294,580
Net assets or fund balances, end of year
$112,339,945
Program services expenses (Part IX)
$27,055,342
Management and general expenses
$16,566,001
Fundraising expenses
$0
Program service expenses (Part III)
$27,055,342

Program services were 62.0% 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)

    $8,220,277

  • 2a · Program service revenue: TUITION AND FEES

    total $39,922,639 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $1,105,714 · unrelated business $0 · excluded $0

  • 7a · Gross sales of assets other than inventory

    securities $8,480,053 · other assets $22,409

  • 7b · Less cost or other basis and sales expenses

    securities $8,116,552

  • 7c · Gain or loss

    securities $363,501 · other assets $22,409

  • 7d · Net gain or loss

    total $385,910 · related or exempt $385,910 · unrelated business $0 · excluded $0

  • 11a · Other revenue: RENTAL INCOME

    total $524,086 · related or exempt $524,086 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $2,187,875 · related or exempt $2,187,875 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $2,711,961

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $567,378 · program services $567,378

  • 5 · Compensation of officers, directors and key employees

    total $530,519 · program services $424,415 · management and general $106,104 · fundraising $0

  • 7 · Other salaries and wages

    total $18,493,601 · program services $14,794,881 · management and general $3,698,720 · fundraising $0

  • 8 · Pension plan contributions

    total $261,451 · program services $209,160 · management and general $52,291 · fundraising $0

  • 9 · Other employee benefits

    total $906,200 · program services $724,960 · management and general $181,240 · fundraising $0

  • 10 · Payroll taxes

    total $1,598,126 · program services $1,278,500 · management and general $319,626 · fundraising $0

  • 11b · Fees: legal

    total $203,705 · program services $0 · management and general $203,705 · fundraising $0

  • 11c · Fees: accounting

    total $149,760 · program services $0 · management and general $149,760 · fundraising $0

  • 11f · Fees: investment management

    total $209,609 · program services $0 · management and general $209,609 · fundraising $0

  • 11g · Fees: other

    total $4,691,468 · program services $0 · management and general $4,691,468 · fundraising $0

  • 12 · Advertising and promotion

    total $2,094,243 · program services $1,675,394 · management and general $418,849 · fundraising $0

  • 13 · Office expenses

    total $567,716 · program services $454,172 · management and general $113,544 · fundraising $0

  • 14 · Information technology

    total $243,765 · program services $195,012 · management and general $48,753 · fundraising $0

  • 17 · Travel

    total $391,077 · program services $312,861 · management and general $78,216 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $333,869 · program services $226,935 · management and general $106,934 · fundraising $0

  • 20 · Interest

    total $85,895 · program services $68,716 · management and general $17,179 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $4,637,672 · program services $0 · management and general $4,637,672 · fundraising $0

  • 23 · Insurance

    total $1,201,867 · program services $961,493 · management and general $240,374 · fundraising $0

  • 24a · Other expenses: RENT EXPENSE

    total $254,169 · program services $203,335 · management and general $50,834 · fundraising $0

  • 24b · Other expenses: AUTO EXPENSE

    total $52,547 · program services $42,037 · management and general $10,510 · fundraising $0

  • 24c · Other expenses: BANK CHARGES

    total $362,196 · program services $0 · management and general $362,196 · fundraising $0

  • 24d · Other expenses: FACILITIES AND EQUIPMENT MAINTENANCE

    total $448,362 · program services $358,689 · management and general $89,673 · fundraising $0

  • 24e · All other expenses

    total $5,336,148 · program services $4,557,404 · management and general $778,744 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $24,405,467 · end of year $26,822,875

  • 3 · Pledges and grants receivable

    beginning of year $1,525,039 · end of year $1,724,000

  • 4 · Accounts receivable

    beginning of year $157,085 · end of year $353,493

  • 5 · Loans and receivables from officers and key people

    beginning of year $164,773 · end of year $157,377

  • 8 · Inventories for sale or use

    beginning of year $9,597 · end of year $8,321

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,788,970 · end of year $2,066,112

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

    $129,675,506

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

    $65,679,008

  • 10c · Land, buildings and equipment, net

    beginning of year $61,155,259 · end of year $63,996,498

  • 11 · Investments: publicly traded securities

    beginning of year $21,482,607 · end of year $24,400,433

  • 15 · Other assets

    beginning of year $3,635,327 · end of year $3,105,416

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,954,681 · end of year $4,659,722

  • 19 · Deferred revenue

    beginning of year $2,095,895 · end of year $1,724,348

  • 23 · Secured mortgages and notes payable

    beginning of year $3,850,303 · end of year $2,060,299

  • 25 · Other liabilities

    beginning of year $2,168,327 · end of year $1,850,211

  • 27 · Net assets without donor restrictions

    beginning of year $100,268,931 · end of year $110,188,874

  • 28 · Net assets with donor restrictions

    beginning of year $1,985,987 · end of year $2,151,071

Mission and programs · 2023

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 $27,055,342 · Grants $567,378 · Revenue $39,922,639

As filed on the 2023 return.

Listed in Part VII

  • Vanessa M Mullet Sanchez

    PRESIDENT BOARD OF TRUSTEES

    Total calculated
    $24,000
    From this org
    $24,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Francisco Martinez Ubarri

    VICEPRESIDENT BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    10

  • Ricardo Lefranc Morales

    SECRETARY BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    10

  • Rafael Mullet Sanchez

    TREASURER BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    10

  • Luis E Gonzalez Cognet

    TRUSTEE

    Total calculated
    $0
    Hours/week
    10

  • Irving A Jimenez Juarbe

    TRUSTEE

    Total calculated
    $26,614
    From this org
    $26,614
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Maria M Melendez Ramos

    TRUSTEE

    Total calculated
    $0
    Hours/week
    10

  • Luis Fullana Morales

    TRUSTEE

    Total calculated
    $0
    Hours/week
    10

  • Ricardo Jaen Presno

    TRUSTEE

    Total calculated
    $0
    Hours/week
    10

  • Ernesto Vazquez Martinez

    PRESIDENT

    Total calculated
    $227,133
    From this org
    $227,133
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $227,133
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $30,000
    Filer's total
    $257,133

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
  • 1a · Health or social club dues or initiation fees
  • 2 · Substantiation required before reimbursing expenses

Answered no

  • 1b · Written policy on the line-1a expenses
  • 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)

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.

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
16 December 2024
IRS schema version
2023v6.0
Source object
202531569349301373

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