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Nonprofiteer
← PONCE MEDICAL SCHOOL FOUNDATION INC

Form 990 for tax year 2023

Filed by PONCE MEDICAL SCHOOL FOUNDATION INC.

Totals

Total revenue
$19,143,089
Total expenses
$17,970,865
Contributions and grants received
$16,655,138
Grants paid
$0
Program service revenue
$1,434,773
Investment income
$0
Other revenue
$1,053,178
Total assets, end of year
$17,294,093
Total liabilities, end of year
$3,243,742
Net assets or fund balances, end of year
$14,050,351
Program services expenses (Part IX)
$16,982,536
Management and general expenses
$988,329
Fundraising expenses
$0
Program service expenses (Part III)
$16,982,536

Program services were 94.5% 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.

  • 1e · Government grants (contributions)

    $14,502,973

  • 1f · All other contributions, gifts and grants

    $2,152,165

  • 2a · Program service revenue: LABORATORY

    total $1,317,516 · related or exempt $1,317,516

  • 2b · Program service revenue: CONTINUED EDUCATION

    total $117,257 · related or exempt $117,257

  • 11a · Other revenue: OTHER SOURCES

    total $1,053,178 · related or exempt $1,053,178

  • 11e · Other revenue, total

    $1,053,178

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $6,918,539 · program services $6,918,539

  • 9 · Other employee benefits

    total $739,926 · program services $739,926

  • 10 · Payroll taxes

    total $591,434 · program services $591,434

  • 11g · Fees: other

    total $2,000,736 · program services $2,000,736

  • 12 · Advertising and promotion

    total $34,763 · program services $34,763

  • 13 · Office expenses

    total $55,711 · program services $55,711

  • 14 · Information technology

    total $46,966 · program services $46,966

  • 17 · Travel

    total $213,811 · program services $213,811

  • 20 · Interest

    total $24,121 · program services $24,121

  • 22 · Depreciation, depletion and amortization

    total $896,803 · program services $896,803

  • 23 · Insurance

    total $3,709 · program services $3,709

  • 24a · Other expenses: RENT

    total $2,374,647 · program services $2,374,647

  • 24b · Other expenses: LABORATORY AND SUPPLIES

    total $1,341,697 · program services $1,341,697

  • 24c · Other expenses: MANAGEMENT FEES

    total $988,329 · management and general $988,329

  • 24d · Other expenses: SPONSORSHIP

    total $776,637 · program services $776,637

  • 24e · All other expenses

    total $963,036 · program services $963,036

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,780,545 · end of year $8,281,432

  • 4 · Accounts receivable

    beginning of year $3,245,226 · end of year $2,969,287

  • 9 · Prepaid expenses and deferred charges

    beginning of year $868,626 · end of year $123,005

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

    $14,745,335

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

    $8,824,966

  • 10c · Land, buildings and equipment, net

    beginning of year $4,435,907 · end of year $5,920,369

  • 15 · Other assets

    beginning of year $630,839

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,716,583 · end of year $1,381,627

  • 19 · Deferred revenue

    beginning of year $298,259 · end of year $498,672

  • 25 · Other liabilities

    beginning of year $2,068,174 · end of year $1,363,443

  • 27 · Net assets without donor restrictions

    beginning of year $12,878,127 · end of year $14,050,351

Mission and programs · 2023

Mission

PONCE MEDICAL SCHOOL FOUNDATION, INC. (''PMSF'') MISSION IS TO MAKE A DIFFERENCE BY SOLVING HEALTH DISPARITIES THROUGH GROUNDBREAKING, INNOVATIVE AND RELEVANT RESEARCH THAT HAS A GLOBAL IMPACT IN HEALTHCARE.

Activities or mission (Part I)

PONCE MEDICAL SCHOOL FOUNDATION, INC. ("PMSF") MISSION IS TO MAKE A DIFFERENCE BY SOLVING HEALTH DISPARITIES THROUGH GROUNDBREAKING, INNOVATIVE AND RELEVANT RESEARCH THAT HAS A GLOBAL IMPACT IN HEALTHCARE.

  • PMSF IS A LEADER IN BIOMEDICAL RESEARCH IN PUERTO RICO AND IS COMPRISED OF HIGHLY ACCOMPLISHED RESEARCHERS WITH EXPERTISE IN CANCER, NEUROSCIENCE, HIV AND MENTAL HEALTH. PMSF PROVIDES MODERN RESEARCH FACILITIES THAT FOSTER COLLABORATIVE, INTEGRATIVE BASIC AND CLINICAL RESEARCH. PMSF HOUSES ONE OF THE TOP CLINICAL TRIAL RESEARCH SITES IN PUERTO RICO, THE ONLY CANCER TISSUE REPOSITORY FOR PUERTO RICAN PATIENTS.

    Expenses $16,982,536 · Revenue $19,143,089

  • THE INSTITUTE HAS PROVIDED EDUCATIONAL AND RESEARCH OPPORTUNITIES FOR PHYSICIANS, PSYCHOLOGISTS, PUBLIC HEALTH AND BIOMEDICAL STUDENTS INTERESTED IN PURSUING RESEARCH CAREERS. PMSF IS A KEY PLAYER IN ONGOING RESEARCH INITIATIVES ON CHIKUNGUYA, DENGUE, AND ZIKA AS IT HOUSES THE MOST COMPREHENSIVE DATABASE. PMSF THROUGH INNO DIAGNOSTICS, A CLIA-CERTIFIED DIAGNOSTIC TESTING LABORATORY, HAS PLAYED A PIVOTAL ROLE IN PROVIDING MOLECULAR TESTING AND VACCINES ADMINISTRATION TO THE SOUTH OF PUERTO RICO DURING THE COVID-19 PANDEMIC. ALSO, PMSF WAS AWARDED FEDERAL AND PRIVATE GRANTS TO WORK WITH COVID-19 RESEARCH INITIATIVES. PMSF IS ACTIVELY ENGAGED IN IMPROVING THE COMMUNITY'S WELL-BEING AND PARTICIPATING IN IMPORTANT SOCIAL INITIATIVES.

As filed on the 2023 return.

Listed in Part VII

  • KENIRA THOMPSON GARCIA PHD

    PROFESSOR/PR

    Total calculated
    $363,523
    From this org
    $0
    From related orgs
    $363,523
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    not reported + $313,523 related
    Bonus
    not reported + $50,000 related
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $363,523 related

  • ELIZABETH BARRANCO SANTANA

    PROFESSOR/ D

    Total calculated
    $240,125
    From this org
    $0
    From related orgs
    $240,125
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    not reported + $230,125 related
    Bonus
    not reported + $10,000 related
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $240,125 related

  • VANESSA RIVERA AMILL PHD

    ASSOCIATE DE

    Total calculated
    $227,478
    From this org
    $0
    From related orgs
    $227,478
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    not reported + $217,478 related
    Bonus
    not reported + $10,000 related
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $227,478 related

  • HAROLD SAAVEDRA

    PROFESSOR

    Total calculated
    $197,461
    From this org
    $0
    From related orgs
    $197,461
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    not reported + $196,711 related
    Bonus
    not reported + $750 related
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $197,461 related

  • JOSE TORRES RUIZ

    CHANCELLOR/P

    Total calculated
    $192,981
    From this org
    $0
    From related orgs
    $192,981
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    not reported + $192,981 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $192,981 related

  • GUILLERMO ARMAIZ PEA

    ASSOCIATE PR

    Total calculated
    $177,772
    From this org
    $0
    From related orgs
    $177,772
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    not reported + $167,772 related
    Bonus
    not reported + $10,000 related
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $177,772 related

  • RICHARD NOEL

    PROFESSOR

    Total calculated
    $174,605
    From this org
    $0
    From related orgs
    $174,605
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    not reported + $164,605 related
    Bonus
    not reported + $10,000 related
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $174,605 related

  • JAIME MATTA MURIAS

    PROFESSOR

    Total calculated
    $170,532
    From this org
    $0
    From related orgs
    $170,532
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    not reported + $169,782 related
    Bonus
    not reported + $750 related
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $170,532 related

  • MARGARITA BONILLA CLAUDIO

    ASSOCIATE DE

    Total calculated
    $132,616
    From this org
    $0
    From related orgs
    $132,616
    Other
    $0
    Hours/week
    40

  • ELIZABETH RIVERA MATEO

    DEAN OF CURR

    Total calculated
    $122,575
    From this org
    $0
    From related orgs
    $122,575
    Other
    $0
    Hours/week
    40

  • LAURA ESTARELLAS JORDAN

    SNR MEDICAL

    Total calculated
    $104,380
    From this org
    $0
    From related orgs
    $104,380
    Other
    $0
    Hours/week
    40

  • KYLE MCGREGOR PHD MBA

    MEMBER

    Total calculated
    $0

  • LAURA B REXACH OLIVENCIA

    MEMBER

    Total calculated
    $0

  • DAVID LENIHAN PHD

    MEMBER

    Total calculated
    $0

  • EDWIN BAREA RODRIGUEZ PHD

    MEMBER

    Total calculated
    $0

  • LAUREANO GIRALDEZ RODRIGUEZ

    MEMBER

    Total calculated
    $0

  • PAUL TYCHSEN

    CFO

    Total calculated
    $0

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

None.

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

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202531339349309658

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