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← COMITE OLIMPICO DE PUERTO RICO INC OLD NAVAL BASE SAN JUAN

Form 990 for tax year 2023

Filed by COMITE OLIMPICO DE PUERTO RICO INC OLD NAVAL BASE SAN JUAN.

Totals

Total revenue
$12,610,711
Total expenses
$17,747,600
Contributions and grants received
$11,693,332
Grants paid
$2,343,179
Program service revenue
$0
Investment income
$55,245
Other revenue
$862,134
Total assets, end of year
$8,649,106
Total liabilities, end of year
$768,857
Net assets or fund balances, end of year
$7,880,249
Program services expenses (Part IX)
$15,099,067
Management and general expenses
$2,648,532
Fundraising expenses
$0
Program service expenses (Part III)
$14,514,161

Program services were 85.1% 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)

    $8,000,000

  • 1f · All other contributions, gifts and grants

    $3,693,332

  • 1g · Noncash contributions included above

    $1,430,265

  • 3 · Investment income

    total $55,245 · related or exempt $55,245

  • 5 · Royalties

    total $734,813 · related or exempt $734,813

  • 6a · Gross rents

    real property $3,757

  • 6c · Rental income or loss

    real property $3,757 · personal property $0

  • 6d · Net rental income or loss

    total $3,757 · related or exempt $3,757

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $252,410

  • 10b · Cost of goods sold

    $133,063

  • 10c · Net income from sales of inventory

    total $119,347 · related or exempt $119,347

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $4,217 · related or exempt $4,217

  • 11e · Other revenue, total

    $4,217

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $296,584 · program services $296,584

  • 2 · Grants to domestic individuals

    total $2,046,595 · program services $2,046,595

  • 5 · Compensation of officers, directors and key employees

    total $102,331 · program services $81,865 · management and general $20,466

  • 7 · Other salaries and wages

    total $845,571 · program services $676,457 · management and general $169,114

  • 10 · Payroll taxes

    total $276,204 · program services $209,443 · management and general $66,761

  • 11a · Fees: management

    total $345,696 · program services $114,080 · management and general $231,616

  • 11b · Fees: legal

    total $53,400 · program services $17,622 · management and general $35,778

  • 11c · Fees: accounting

    total $54,900 · program services $18,117 · management and general $36,783

  • 11g · Fees: other

    total $1,760,150 · program services $1,456,785 · management and general $303,365

  • 12 · Advertising and promotion

    total $632,789 · program services $632,789

  • 13 · Office expenses

    total $243,695 · program services $112,444 · management and general $131,251

  • 14 · Information technology

    total $25,195 · program services $8,314 · management and general $16,881

  • 16 · Occupancy

    total $2,452,825 · program services $2,324,479 · management and general $128,346

  • 17 · Travel

    total $4,562,694 · program services $4,486,665 · management and general $76,029

  • 20 · Interest

    total $13,182 · program services $5,292 · management and general $7,890

  • 21 · Payments to affiliates

    total $519,086 · program services $516,598 · management and general $2,488

  • 22 · Depreciation, depletion and amortization

    total $120,962 · program services $44,026 · management and general $76,936

  • 23 · Insurance

    total $239,248 · program services $190,020 · management and general $49,227

  • 24a · Other expenses: FREIGHT AND STAMPS

    total $92,217 · program services $85,481 · management and general $6,736

  • 24b · Other expenses: GRANTS & IN KIND

    total $635,587 · management and general $635,587

  • 24c · Other expenses: COMPETITIONS

    total $1,029,536 · program services $761,168 · management and general $268,368

  • 24d · Other expenses: BANK CHARGES

    total $35,666 · program services $765 · management and general $34,901

  • 24e · All other expenses

    total $1,363,487 · program services $1,013,478 · management and general $350,009 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,263,785 · end of year $7,406,724

  • 4 · Accounts receivable

    beginning of year $399,287 · end of year $469,083

  • 7 · Other notes and loans receivable

    beginning of year $148,598 · end of year $108,098

  • 8 · Inventories for sale or use

    beginning of year $74,993 · end of year $111,515

  • 9 · Prepaid expenses and deferred charges

    beginning of year $61,222 · end of year $102,209

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

    $1,885,484

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

    $1,436,477

  • 10c · Land, buildings and equipment, net

    beginning of year $353,647 · end of year $449,007

  • 15 · Other assets

    beginning of year $2,970 · end of year $2,470

  • 17 · Accounts payable and accrued expenses

    beginning of year $204,630 · end of year $752,288

  • 19 · Deferred revenue

    beginning of year $4,800 · end of year $4,800

  • 24 · Unsecured notes and loans payable

    beginning of year $77,934 · end of year $11,769

  • 27 · Net assets without donor restrictions

    end of year $80,000

Mission and programs · 2023

Mission

THE ENTITY'S MISSION IS THE TRAINING AND DEVELOPMENT OF HIGH PERFORMANCE ATHLETES FOR THE REPRESENTATION OF PR IN INTERNATIONAL SPORTS COMPETITIONS. THE ENTITY PROVIDES FINANCIAL ASSISTANCE AND TRAINING FACILITES FOR ATHLETES AND THEIR FEDERATIONS.

Activities or mission (Part I)

THE ENTITY'S MISSION IS THE TRAINING AND DEVELOPMENT OF HIGH PERFORMANCE ATHLETES FOR THE REPRESENTATION OF PR IN INTERNATIONAL SPORTS COMPETITIONS. ALSO, THE ENTITY PROVIDES FINANCIAL ASSISTANCE AND FACILITIES FOR TRAINING TO ATHLETES AND THEIR FEDERATIONS.

  • SPORTS DELEGATIONS AND FEDERATIONS RECEIVED ECONOMIC SUPPORT FROM THE ENTITY TO COVER THEIR OPERATIONS AND ADMINISTRATIVE EXPENSES INCLUDING TRANSPORTATION, TRAINING, AND MEALS ON THEIR DIFFERENT TOURNAMENTS, TRAININ FACILITIES ARE PROVIDED TO ATHLETES AND THEIR FEDERATIONS.

    Expenses $14,514,161

As filed on the 2023 return.

Listed in Part VII

  • Sara Rosario Velez

    PRESIDENT

    Total calculated
    $102,331
    From this org
    $102,331
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Victor Ruiz

    FIRST VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Victor Lopez

    SECOND VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Carlos Beltran

    GENERAL SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Ivan Santos

    DEPUTY SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Humberto Torres

    TREASURY

    Total calculated
    $0
    Hours/week
    1

  • Mildred Colon

    DEPUTY TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Fernando Delgado

    VOCAL

    Total calculated
    $0
    Hours/week
    1

  • Cesar Trabanco

    VOCAL

    Total calculated
    $0
    Hours/week
    1

  • Carlos Santiago

    ATHLETE DELEGATE

    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.

Grants on this return

  • ALBERGUE OLIMPICO

    no cash amount reported

Provenance

Return type
form_990
Tax year
2023
Filed
18 September 2024
IRS schema version
2023v5.1
Source object
202432629349300968

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