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← INSTITUTE FOR THE PUERTO RICAN HISPANIC ELDERLY INC

Form 990 for tax year 2024

Filed by INSTITUTE FOR THE PUERTO RICAN HISPANIC ELDERLY INC.

Totals

Total revenue
$5,684,400
Total expenses
$5,862,345
Contributions and grants received
$5,446,477
Grants paid
$0
Program service revenue
$237,923
Investment income
$0
Other revenue
$0
Total assets, end of year
$2,921,496
Total liabilities, end of year
$5,545,891
Net assets or fund balances, end of year
-$2,624,395
Program services expenses (Part IX)
$4,977,663
Management and general expenses
$884,682
Fundraising expenses
$0
Program service expenses (Part III)
$4,977,663

Program services were 84.9% 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)

    $5,281,079

  • 1f · All other contributions, gifts and grants

    $165,398

  • 2a · Program service revenue: SERVICE FEES

    total $237,923 · related or exempt $237,923

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $2,699,118 · program services $2,581,606 · management and general $117,512

  • 9 · Other employee benefits

    total $448,934 · program services $429,389 · management and general $19,545

  • 10 · Payroll taxes

    total $217,978 · program services $208,488 · management and general $9,490

  • 11g · Fees: other

    total $506,799 · program services $232,727 · management and general $274,072

  • 13 · Office expenses

    total $206,787 · program services $75,994 · management and general $130,793

  • 17 · Travel

    total $81,308 · program services $81,308

  • 20 · Interest

    total $2,083 · management and general $2,083

  • 22 · Depreciation, depletion and amortization

    total $31,155 · management and general $31,155

  • 23 · Insurance

    total $55,802 · program services $19,156 · management and general $36,646

  • 24a · Other expenses: PROGRAM SUPPLIES

    total $1,279,685 · program services $1,244,310 · management and general $35,375

  • 24b · Other expenses: BAD DEBT

    total $193,983 · management and general $193,983

  • 24c · Other expenses: REPAIRS AND MAINTENANCE

    total $119,675 · program services $89,628 · management and general $30,047

  • 24d · Other expenses: VEHICLE EXPENSE

    total $13,960 · program services $10,519 · management and general $3,441

  • 24e · All other expenses

    total $5,078 · program services $4,538 · management and general $540

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $201,912 · end of year $90,119

  • 3 · Pledges and grants receivable

    beginning of year $2,330,132 · end of year $2,621,718

  • 7 · Other notes and loans receivable

    beginning of year $327,198 · end of year $98,578

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

    $789,573

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

    $687,907

  • 10c · Land, buildings and equipment, net

    beginning of year $100,300 · end of year $101,666

  • 15 · Other assets

    beginning of year $9,415 · end of year $9,415

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,223,898 · end of year $1,110,460

  • 24 · Unsecured notes and loans payable

    beginning of year $162,653 · end of year $67,498

  • 25 · Other liabilities

    beginning of year $4,028,856 · end of year $4,367,933

  • 27 · Net assets without donor restrictions

    beginning of year -$2,446,450 · end of year -$2,624,395

Mission and programs · 2024

Mission

SOCIAL SERVICES AGENCY TARGETING PRIMARILY THE HISPANIC/MINORITY ELDERLY. THE AGENCY IS MULTI SERVICE AND MULTICULTURAL SERVICE.

Activities or mission (Part I)

THE INSTITUTE FOR THE PUERTO RICAN HISPANIC ELDERLY, INC. (IPRHE) IS A NON-PROFIT ORGANIZATION SPECIALIZING IN PROVIDING QUALITY SERVICES AND PROGRAMS TO MEET THE VARIOUS NEEDS OF HISPANIC AND OTHER ETHNIC/RACIAL LOW AND MIDDLE INCOME SENIORS AND THEIR FAMILIES IN NEW YORK CITY AND ENVIRONS WITH A MISSION TO IMPROVE THEIR QUALITY OF LIFE. IPRHE OFFERS MULTI SERVICES TO THE COMMUNITY IN ORDER TO DETER THE INSTITUTIONALIZATION OF THE ELDERLY, WHILE HELPING TO MAINTAIN THEIR QUALITY OF LIFE AT THE HIGHEST LEVEL POSSIBLE.

  • THE ORGANIZATION OPERATES OLDER ADULT CENTERS THAT PROVIDES SERVICES AND PROGRAMS TO OVER 1000 PARTICIPANTS IN THE NYC BOROUGHS OF MANHATTAN, QUEENS AND THE BRONX. PARTICIPANTS ENROLLED THE OLDER ADULTS CENTERS BENEFIT FROM A VARIETY OF SERVICES AND RESOURCES INCLUDING WELLNESS CHECKS, DAILY MEALS, AND RECREATIONAL ACTIVITIES AND THEY GAIN VALUABLE KNOWLEDGE AND SKILLS THROUGH WORKSHOPS AND CLASSES ON A VARIETY OF TOPICS. THE PROGRAMS ALSO OFFERS BILINGUAL, CULTURALLY RESPONSIVE SOCIAL SERVICES, ADVOCACY, INFORMATION, AND COUNSELING IN A WELCOMING AND FRIENDLY ENVIRONMENT.

    Expenses $4,977,663

As filed on the 2024 return.

Listed in Part VII

  • Raul Russi

    PRESIDENT

    Total calculated
    $998,427
    From this org
    $0
    From related orgs
    $896,597
    Other
    $101,830
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    not reported + $693,183 related
    Bonus
    not reported + $203,414 related
    Other
    not reported
    Deferred
    not reported + $50,625 related
    Nontaxable benefits
    not reported + $51,205 related
    Filer's total
    not reported + $998,427 related

  • Lymaris Albors

    CHIEF EXEC.

    Total calculated
    $892,752
    From this org
    $0
    From related orgs
    $836,684
    Other
    $56,068
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    not reported + $645,440 related
    Bonus
    not reported + $191,244 related
    Other
    not reported
    Deferred
    not reported + $39,177 related
    Nontaxable benefits
    not reported + $16,891 related
    Filer's total
    not reported + $892,752 related

  • Jose R Rodriguez

    CHIEF LEGAL

    Total calculated
    $592,593
    From this org
    $0
    From related orgs
    $562,331
    Other
    $30,262
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    not reported + $513,136 related
    Bonus
    not reported + $49,195 related
    Other
    not reported
    Deferred
    not reported + $16,500 related
    Nontaxable benefits
    not reported + $13,762 related
    Filer's total
    not reported + $592,593 related

  • Vicky Gatell

    CHIEF FINAN

    Total calculated
    $488,994
    From this org
    $0
    From related orgs
    $442,213
    Other
    $46,781
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    not reported + $403,779 related
    Bonus
    not reported + $38,434 related
    Other
    not reported
    Deferred
    not reported + $16,500 related
    Nontaxable benefits
    not reported + $30,281 related
    Filer's total
    not reported + $488,994 related

  • Angel Audiffred

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Henry Comas

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Deborah Quinones

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Wilfred Renta

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Anthony Rivera

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Maria Del Carmen Arroy

    CHIEF ADMINI

    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

  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PAGE 1, PART I, LINE 3
PURSUANT TO THE ORGANIZATIONS BYLAWS, THE ORGANIZATION DELEGATES TO ITS PARENT ENTITY THE HIRING OF THE CEO AND PRESIDENT. THE COMPENSATION OF THE EXECUTIVES IS APPROVED BY THE PARENT ENTITY, WHO HIRES A CONSULTANT TO CONDUCT A STUDY. A STANDING COMPENSATION COMMITTEE OF THE PARENT ENTITY REVIEWS A COMPENSATION STUDY AND VOTES ON HOW TO PROCEED.
SCHEDULE J, PAGE 1, PART I, LINE 7
BONUSES FOR THE CEO AND PRESIDENT ARE APPROVED BY THE BOARD OF THE PARENT ENTITY. THE REMAINING EXECUTIVE BONUSES ARE APPROVED BY THE CEO.

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • 1675 JV ASSOCIATES LLC

    HOUSING · NY

    Directly controlled by PROMESA HD

  • 245 E MOSHOLU APTS LLC

    HOUSING · NY

    Directly controlled by 245 E MOSH

  • 980 PROSPECT LLC

    REAL ESTAT · NY

    Directly controlled by PROMESA EN

  • ACACIA GARDENS AFFORDABLE LLC

    HOUSING · NY

    Directly controlled by ACACIA GAR

  • ACACIA GARDENS DEVELOPMENT LLC

    DEVELOPMEN · NY

    Directly controlled by ACACIA GAR

  • AUDUBON PHARMACY LLC

    RETAIL PHA · NY

    Directly controlled by PROMESA EN

  • BELLA VISTA LP

    HOUSING · NY

    Directly controlled by BELLA VIST

  • CASA ACACIA LLC

    REAL ESTAT · NY

    Directly controlled by PROMESA EN

  • CROTONA PARK RESIDENCE LLC

    HOUSING · NY

    Directly controlled by CROTONA PA

  • DISTINCTIVE MAINTENANCE PARTNERS

    MAINTENANC · NY

    Directly controlled by PROMESA EN

  • HOPE GARDENS I PA LLC

    HOUSING · NY

    Directly controlled by ACACIA BRO

  • LA PLAYA DEL BARRIO LLC

    HOUSING · NY

    Directly controlled by ACACIA REA

  • MARIA ISABEL LP

    HOUSING · NY

    Directly controlled by MARIA ISAB

  • MARIA ISABEL MEMBERS LLC

    HOUSING · NY

    Directly controlled by ACACIA MAR

  • MELROSE ESTATES HOUSING LP

    HOUSING · NY

    Directly controlled by MELROSE CO

  • PALACIA DORADO LLC

    HOUSING · NY

    Directly controlled by PALACIO DO

  • PROMESA APARTMENTS LIMITED PAR

    HOUSING · NY

    Directly controlled by PROMESA HD

  • PROMESA COURT LIMITED PARTNERS

    HOUSING · NY

    Directly controlled by PROMESA CO

  • PROMESA COURT REIDENCES LIMIT

    HOUSING · NY

    Directly controlled by PROMESA CO

  • SERA SECURITY SERVICES LLC

    SECURITY · NY

    Directly controlled by PROMESA EN

  • SV-B PARTNERS LLC

    HOUSING · NY

    Directly controlled by LA PLAYA D

  • URBAN RESIDENCE COLLABORATIO

    HOUSING · NY

    Directly controlled by URC

  • VIRGINIA HOUSE RESIDENCES LLC

    HOUSING · NY

    Directly controlled by VIRGINIA H

  • WEST TREMONT RESIDENCES LLC

    HOUSING · NY

    Directly controlled by WEST TREMO

Related corporations and trusts

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

  • 1675 WESTCHESTER AVENUE INC

    C CORP · HOUSING · NY

    Directly controlled by PROMESA HD

  • 245 E MOSHOLU INC

    C CORP · GP HOUSING · NY

    Directly controlled by 245 E MOS

  • 3196 3RD AVE CORP

    C CORP · REAL ESTAT · NY

    Directly controlled by DON PANCHO

  • 454 W 146TH STREET HDFC

    C CORP · HOUSING · NY

    Directly controlled by ACDP

  • 471 W 145TH STREET HDFC

    C CORP · HOUSING · NY

    Directly controlled by ACDP

  • 517 W 173RD STREET HDFC

    C CORP · HOUSING · NY

    Directly controlled by ACDP

  • ACACIA BROOKLYN CORP

    C CORP · HOUSING · NY

    Directly controlled by ACACIA REA

  • ACACIA GARDENS GP INC

    C CORP · HOUSING · NY

    Directly controlled by ACACIA GAR

  • ACACIA MARIA ISABEL INC

    GP HOUSING · NY

    Directly controlled by PROMESA HD

  • ACD AFFORDABLE CORPORATION

    C CORP · HOUSING · NY

    Directly controlled by ACACIA GAR

  • BECK STREET DEVELOPMENT HOUSING DEV

    C CORP · HOUSING · NY

    Directly controlled by PROMESA HD

  • BELLA VISTA HOUSING COMPANY INC

    C CORP · GP HOUSING · NY

    Directly controlled by SBCMC

  • BRONX INVESTORS HOLDING COMPANY INC

    C CORP · INVESTING · NY

    Directly controlled by SBCMC

  • CROTONA PARK MANAGERS INC

    C CORP · GP HOUSING · NY

    Directly controlled by PROMESA HD

  • DON PANCHO DEVELOPMENT CORPORATION

    C CORP · MAINTENANC · NY

    Directly controlled by BRONX INVE

  • EL BATEY HOUSING COMPANY INC

    C CORP · GP HOUSING · NY

    Directly controlled by SBCMC

  • FIVE FIFTEEN WEST INC

    C CORP · HOUSING · NY

    Directly controlled by ACDP

  • FOX STREET DEVELOPMENT HOUSING

    C CORP · HOUSING · NY

    Directly controlled by PROMESA HD

  • MELROSE COURT HOUSING COMPANY INC

    C CORP · GP HOUSING · NY

    Directly controlled by SBCMC

  • ONE SEVENTY FOUR INC

    C CORP · HOUSING · NY

    Directly controlled by ACDP

  • PALACIO DORADO DEVELOPMENT INC

    C CORP · HOUSING · NY

    Directly controlled by ACACIA PUE

  • PROMESA COURT ESTATES INC

    C CORP · GP HOUSING · NY

    Directly controlled by ACACIA

  • PROMESA ENTERPRISES LTD

    C CORP · INVESTMENT · NY

    Directly controlled by ACACIA

  • URBAN RENAISSANCE COLLABORATION INC

    C CORP · GP HOUSING · NY

    Directly controlled by PROMESA HD

  • VIRGINIA HOUSE MANAGERS INC

    C CORP · GP HOUSING · NY

    Directly controlled by PROMESA HD

Provenance

Return type
form_990
Tax year
2024
Filed
14 May 2026
IRS schema version
2024v5.0
Source object
202611359349304116

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