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Nonprofiteer
← INTER AMERICAN UNIVERSITY OF PUERTO RICO

Form 990 for tax year 2023

Filed by INTER AMERICAN UNIVERSITY OF PUERTO RICO.

Totals

Total revenue
$241,227,648
Total expenses
$244,302,872
Contributions and grants received
$39,137,030
Grants paid
$9,874,559
Program service revenue
$163,901,268
Investment income
$11,780,619
Other revenue
$26,408,731
Total assets, end of year
$785,275,436
Total liabilities, end of year
$80,690,835
Net assets or fund balances, end of year
$704,584,601
Program services expenses (Part IX)
$158,963,640
Management and general expenses
$85,250,102
Fundraising expenses
$89,130
Program service expenses (Part III)
$158,963,640

Program services were 65.1% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $869,228

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $38,267,802

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: TUITION AND FEES

    total $163,901,268 · related or exempt $163,901,268 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $7,131,789 · related or exempt $0 · unrelated business $0 · excluded $7,131,789

  • 4 · Income from investment of tax-exempt bond proceeds

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

  • 5 · Royalties

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

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $4,648,830 · other assets $0

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $4,648,830 · other assets $0

  • 7d · Net gain or loss

    total $4,648,830 · related or exempt $0 · unrelated business $0 · excluded $4,648,830

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 11a · Other revenue: AUXILIARY ENTERPRISES

    total $21,526,683 · related or exempt $21,526,683 · unrelated business $0 · excluded $0

  • 11b · Other revenue: OTHER SOURCES

    total $4,537,351 · related or exempt $4,537,351 · unrelated business $0 · excluded $0

  • 11c · Other revenue: REVENUE FROM EXTERNAL SUBSIDIARIES

    total $344,697 · related or exempt $156,220 · unrelated business $188,477 · excluded $0

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $26,408,731

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0 · program services $0

  • 2 · Grants to domestic individuals

    total $9,874,559 · program services $9,874,559

  • 5 · Compensation of officers, directors and key employees

    total $2,040,704 · management and general $2,040,704

  • 7 · Other salaries and wages

    total $99,183,059 · program services $76,377,471 · management and general $22,805,338 · fundraising $250

  • 8 · Pension plan contributions

    total $2,741,884 · program services $2,036,451 · management and general $705,433

  • 9 · Other employee benefits

    total $12,212,925 · program services $6,987,304 · management and general $5,225,621

  • 10 · Payroll taxes

    total $9,496,400 · program services $5,946,407 · management and general $3,549,974 · fundraising $19

  • 11b · Fees: legal

    total $2,453,368 · program services $180 · management and general $2,453,188

  • 11c · Fees: accounting

    total $204,325 · management and general $204,325

  • 11f · Fees: investment management

    total $65,000 · management and general $65,000

  • 11g · Fees: other

    total $22,878,174 · program services $11,117,933 · management and general $11,750,669 · fundraising $9,572

  • 12 · Advertising and promotion

    total $3,071,074 · program services $1,207,329 · management and general $1,863,618 · fundraising $127

  • 13 · Office expenses

    total $694,344 · program services $329,925 · management and general $364,419

  • 14 · Information technology

    total $6,741,678 · program services $2,602,754 · management and general $4,138,924

  • 15 · Royalties

    total $4,089 · program services $4,089

  • 16 · Occupancy

    total $509,000 · program services $299,452 · management and general $205,155 · fundraising $4,393

  • 17 · Travel

    total $620,949 · program services $386,794 · management and general $234,155

  • 19 · Conferences, conventions and meetings

    total $237,635 · program services $147,254 · management and general $90,381

  • 20 · Interest

    total $1,679,023 · program services $660,334 · management and general $1,018,689

  • 22 · Depreciation, depletion and amortization

    total $25,381,534 · program services $16,267,384 · management and general $9,113,505 · fundraising $645

  • 23 · Insurance

    total $5,463,959 · program services $14,793 · management and general $5,449,166

  • 24a · Other expenses: UTILITIES

    total $14,326,855 · program services $10,195,192 · management and general $4,131,663

  • 24b · Other expenses: ADMINISTRATIVE EXPENSES

    total $9,151,530 · program services $6,444,167 · management and general $2,685,862 · fundraising $21,501

  • 24c · Other expenses: STUDENT RELATED EXPENSES

    total $5,151,213 · program services $4,249,575 · management and general $857,158 · fundraising $44,480

  • 24d · Other expenses: EDUCATION & LAB MATERIALS

    total $2,407,760 · program services $1,854,062 · management and general $548,792 · fundraising $4,906

  • 24e · All other expenses

    total $7,711,831 · program services $1,960,231 · management and general $5,748,363 · fundraising $3,237

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $92,182,683 · end of year $104,657,908

  • 2 · Savings and temporary cash investments

    beginning of year $643,907

  • 3 · Pledges and grants receivable

    beginning of year $21,890,926 · end of year $10,430,057

  • 4 · Accounts receivable

    beginning of year $2,149,876 · end of year $3,012,364

  • 5 · Loans and receivables from officers and key people

    beginning of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0

  • 7 · Other notes and loans receivable

    beginning of year $731,122 · end of year $673,692

  • 9 · Prepaid expenses and deferred charges

    beginning of year $9,682,292 · end of year $9,325,665

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

    $712,340,864

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

    $389,104,610

  • 10c · Land, buildings and equipment, net

    beginning of year $331,226,830 · end of year $323,236,254

  • 12 · Investments: other securities

    beginning of year $290,829,030 · end of year $322,096,594

  • 15 · Other assets

    beginning of year $12,009,595 · end of year $11,842,902

  • 17 · Accounts payable and accrued expenses

    beginning of year $25,799,308 · end of year $29,519,078

  • 19 · Deferred revenue

    beginning of year $3,072,843 · end of year $3,086,582

  • 20 · Tax-exempt bond liabilities

    beginning of year $41,368,898 · end of year $37,291,030

  • 23 · Secured mortgages and notes payable

    beginning of year $1,218,667 · end of year $940,543

  • 25 · Other liabilities

    beginning of year $10,800,199 · end of year $9,853,602

  • 27 · Net assets without donor restrictions

    beginning of year $676,772,143 · end of year $702,184,166

  • 28 · Net assets with donor restrictions

    beginning of year $2,314,203 · end of year $2,400,435

Mission and programs · 2023

Mission

THE UNIVERSIDAD INTERAMERICANA DE PUERTO RICO INC, IS A HIGHER EDUCATION INSTITUTION PURSUING QUALITY THRU ACADEMIC EXCELLENCE WITH EMPHASIS IN THE FORMATION OF PEOPLE WITH HIGHER STANDARDS, ETHICAL AND DEMOCRATICALLY VALUES.

Activities or mission (Part I)

THE UNIVERSIDAD INTERAMERICANA DE PUERTO RICO, INC. IS A HIGHER EDUCATION INSTITUTION PURSUING QUALITY THRU ACADEMIC EXCELLENCE WITH EMPHASIS IN THE FORMATION OF PEOPLE WITH HIGH STANDARDS, ETHICAL AND DEMOCRATECALLY VALUES.

  • DURING THE 2023-2024 FISCAL YEAR, THE UNIVERSITY PROVIDED EDUCATIONAL SERVICES FOR OVER 25,163 STUDENTS ON ITS CAMPUS AND CENTERS. OVER 5,011 EDUCATIONAL DEGREES WERE GRANTED IN SEVERAL FIELDS OF STUDIES RANGING FROM ASSOCIATES UP TO DOCTORAL DEGREES, OPTOMETRY DEGREES AND LAW DEGREES.

    Expenses $158,963,640 · Grants $9,874,559 · Revenue $209,826,406

As filed on the 2023 return.

Listed in Part VII

  • Rafael Ramirez

    PRESIDENT

    Total calculated
    $190,041
    From this org
    $181,020
    From related orgs
    $0
    Other
    $9,021
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $181,020
    Bonus
    $0
    Other
    $0
    Deferred
    $9,021
    Nontaxable benefits
    $0
    Filer's total
    $190,041

  • Marilina Lucca Wayland

    CHANCELLOR

    Total calculated
    $145,324
    From this org
    $138,432
    From related orgs
    $0
    Other
    $6,892
    Hours/week
    40

  • Julio Fontanet Maldonado

    DEAN

    Total calculated
    $132,484
    From this org
    $126,204
    From related orgs
    $0
    Other
    $6,280
    Hours/week
    40

  • Orlando Gonzalez Gonzalez

    VP OF FINANCE

    Total calculated
    $126,600
    From this org
    $120,600
    From related orgs
    $0
    Other
    $6,000
    Hours/week
    40

  • Vilma Colon Acosta

    CHANCELLOR

    Total calculated
    $121,207
    From this org
    $115,464
    From related orgs
    $0
    Other
    $5,743
    Hours/week
    40

  • Jacqueline Alvarez Pena

    VP ACADEMIC AFFAIRS

    Total calculated
    $120,600
    From this org
    $120,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Andres Pagan Figueroa

    DEAN

    Total calculated
    $115,890
    From this org
    $110,400
    From related orgs
    $0
    Other
    $5,490
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $115,890
    Bonus
    $0
    Other
    $0
    Deferred
    $5,490
    Nontaxable benefits
    $0
    Filer's total
    $121,380

  • Elie Agesilas

    CHANCELLOR

    Total calculated
    $115,701
    From this org
    $110,220
    From related orgs
    $0
    Other
    $5,481
    Hours/week
    40

  • Carlos Olivares

    CHANCELLOR

    Total calculated
    $114,693
    From this org
    $109,260
    From related orgs
    $0
    Other
    $5,433
    Hours/week
    40

  • Karen Woolcock Rodriguez

    DEAN

    Total calculated
    $114,000
    From this org
    $108,600
    From related orgs
    $0
    Other
    $5,400
    Hours/week
    40

  • Vilma Martinez Toro

    DEAN

    Total calculated
    $114,000
    From this org
    $108,600
    From related orgs
    $0
    Other
    $5,400
    Hours/week
    40

  • Juan Negron Berrios

    CHANCELLOR

    Total calculated
    $107,599
    From this org
    $102,504
    From related orgs
    $0
    Other
    $5,095
    Hours/week
    40

  • Rafael Canales Pastrana

    CHANCELLOR

    Total calculated
    $101,400
    From this org
    $96,600
    From related orgs
    $0
    Other
    $4,800
    Hours/week
    40

  • Jose Romero Vazquez

    CHANCELLOR

    Total calculated
    $91,091
    From this org
    $86,891
    From related orgs
    $0
    Other
    $4,200
    Hours/week
    40

  • Victor Feliberty Ruberte

    DEAN

    Total calculated
    $89,493
    From this org
    $85,260
    From related orgs
    $0
    Other
    $4,233
    Hours/week
    40

  • Evelyn Castillo Sorrentini

    DEAN

    Total calculated
    $78,947
    From this org
    $75,216
    From related orgs
    $0
    Other
    $3,731
    Hours/week
    40

  • Norberto Dominguez Rodriguez

    VP OF RELIGIOUS AFFAIRS

    Total calculated
    $75,066
    From this org
    $71,520
    From related orgs
    $0
    Other
    $3,546
    Hours/week
    40

  • Nydia Feliciano Burgos

    DEAN

    Total calculated
    $71,267
    From this org
    $69,264
    From related orgs
    $0
    Other
    $2,003
    Hours/week
    40

  • Angela De Jesus Alicea

    CHANCELLOR

    Total calculated
    $15,301
    From this org
    $15,301
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Eliezer Alvarez Diaz

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    10

  • Ramon Ayala Cuervos

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    10

  • Gloria Cordero Gonzalez

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    10

  • Juan G Feliciano Valera

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    10

  • Jose A Figueroa Santaella

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    10

  • Jorge L Fuentes Benejan

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    10

  • Samuel Lizardi Rivera

    TREASURER OF THE BOARD

    Total calculated
    $0
    Hours/week
    10

  • Domingo Mas Rivera

    CHAIRMAN OF THE BOARD

    Total calculated
    $0
    Hours/week
    10

  • Aida N Molinary De La Cruz

    ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    10

  • Manuelita Munoz Rivera

    DEPUTY TREASURER

    Total calculated
    $0
    Hours/week
    10

  • Antonio R Pavia Bibiloni

    BOARD MEMEBER

    Total calculated
    $0
    Hours/week
    10

  • Juan Jose Perez Alda

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    10

  • Felipe Piazza Vazquez

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    10

  • Victor Rivera Hernandez

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    10

  • Marcelina Velez De Santiago

    SECRETARY OF THE BOARD

    Total calculated
    $0
    Hours/week
    10

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 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Answered no

  • 4a · Severance or change-of-control payment
  • 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
An executive/Officer received housing allowances as part of her compensation
Schedule J, Part I, Line 4
NONQUALIFIED: RAFAEL RAMIREZ: 23,341; ANDRES PAGAN: 3,000

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • CENTRO UNIVERSITARIO INTER PANAMA

    EDUCATION · PM · income $156,220 · assets $727,443

    Directly controlled by INTER

Related corporations and trusts

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

  • EMPRESAS INTEREX

    C · REAL ESTATE · PR · 100% owned · share of income $179,662 · share of assets $1,441,579

    Directly controlled by INTER

  • INTER AGRICOLA CORP

    C · AGRICULTURE · PR · 100% owned · share of income $51,547 · share of assets $415,198

    Directly controlled by INTER

Provenance

Return type
form_990
Tax year
2023
Filed
17 February 2025
IRS schema version
2023v6.0
Source object
202511349349301911

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