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Nonprofiteer
← CORPORACION PARA LA PROMOCION DE PUERTO RICO COMO DESTINO INC

Form 990 for tax year 2022

Filed by CORPORACION PARA LA PROMOCION DE PUERTO RICO COMO DESTINO INC.

Totals

Total revenue
$57,719,154
Total expenses
$66,401,911
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$57,616,675
Investment income
$102,479
Other revenue
$0
Total assets, end of year
$25,402,804
Total liabilities, end of year
$14,905,621
Net assets or fund balances, end of year
$10,497,183
Program services expenses (Part IX)
$66,401,911
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$66,401,911

Program services were 100.0% 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.

  • 2a · Program service revenue: CONT. FROM PR & TOURISM

    total $35,000,000 · related or exempt $35,000,000

  • 2b · Program service revenue: CDBG FUNDS & CARES ACT FUNDS

    total $21,191,004 · related or exempt $21,191,004

  • 2c · Program service revenue: DONATED SERVICES

    total $1,197,578 · related or exempt $1,197,578

  • 2d · Program service revenue: COOP MARKETING

    total $228,093 · related or exempt $228,093

  • 3 · Investment income

    total $102,479 · related or exempt $102,479

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $2,550,351 · program services $2,550,351

  • 7 · Other salaries and wages

    total $3,649,995 · program services $3,649,995

  • 10 · Payroll taxes

    total $417,050 · program services $417,050

  • 11b · Fees: legal

    total $44,450 · program services $44,450

  • 11g · Fees: other

    total $1,619,528 · program services $1,619,528

  • 16 · Occupancy

    total $128,854 · program services $128,854

  • 17 · Travel

    total $1,530,356 · program services $1,530,356

  • 22 · Depreciation, depletion and amortization

    total $59,695 · program services $59,695

  • 23 · Insurance

    total $450,657 · program services $450,657

  • 24a · Other expenses: ADVERTISING EXPENSE

    total $37,664,459 · program services $37,664,459

  • 24b · Other expenses: OTHER EVENTS

    total $3,454,676 · program services $3,454,676

  • 24c · Other expenses: GROUP INCENTIVES

    total $3,003,154 · program services $3,003,154

  • 24d · Other expenses: PUBLIC RELATIONS

    total $2,425,107 · program services $2,425,107

  • 24e · All other expenses

    total $9,403,579 · program services $9,403,579

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $21,127,913 · end of year $17,287,495

  • 3 · Pledges and grants receivable

    beginning of year $6,838,450 · end of year $6,194,573

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

    $1,340,243

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

    $964,124

  • 10c · Land, buildings and equipment, net

    beginning of year $114,335 · end of year $376,119

  • 11 · Investments: publicly traded securities

    beginning of year $118,450 · end of year $81,134

  • 15 · Other assets

    beginning of year $1,744,151 · end of year $1,463,483

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,426,008 · end of year $10,404,388

  • 19 · Deferred revenue

    beginning of year $1,476,810 · end of year $1,758,291

  • 25 · Other liabilities

    beginning of year $2,860,541 · end of year $2,742,942

  • 27 · Net assets without donor restrictions

    beginning of year $19,179,940 · end of year $10,497,183

Mission and programs · 2022

Mission

BRING PROSPERITY TO PUERTO RICO BY COLLABORATIVELY POSITIONING OUR DIVERSE AND UNIQUE ISLAND AS A PREMIER DESTINATION FOR LEISURE, BUSINESS AND EVENTS.

  • PROMOTION, RESEARCH AND COMMUNITY ENGAGEMENT

  • N/A

  • N/A

  • N/A

    Expenses $66,401,911

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Leah Chandler

    CHIEF MARKET

    Total calculated
    $318,208
    From this org
    $318,208
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $318,208
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $318,208

  • Edward Carey

    CHIEF SALES

    Total calculated
    $317,608
    From this org
    $317,608
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $317,608
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $317,608

  • Bradley Dean

    CEO

    Total calculated
    $295,177
    From this org
    $295,177
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $295,177
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $295,177

  • Edward Zayas

    CHIEF STRATE

    Total calculated
    $271,145
    From this org
    $271,145
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $271,145
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $271,145

  • Fernando Rodriguez

    CFO

    Total calculated
    $264,705
    From this org
    $264,705
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $264,705
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $264,705

  • Kim Sutphin

    VP OF SALES

    Total calculated
    $233,374
    From this org
    $233,374
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $233,374
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $233,374

  • Elizabeth Bushman

    NATIONAL SAL

    Total calculated
    $201,817
    From this org
    $201,817
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $201,817
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $201,817

  • Frederick Edson

    INCENTIVE SA

    Total calculated
    $169,477
    From this org
    $169,477
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,477
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $169,477

  • Angel Blanch

    LEISURE SALE

    Total calculated
    $166,974
    From this org
    $166,974
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,974
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $166,974

  • Carolyn Blake

    NATIONAL SAL

    Total calculated
    $161,861
    From this org
    $161,861
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $161,861
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $161,861

  • Joyce Mendez

    NATIONAL SAL

    Total calculated
    $150,005
    From this org
    $150,005
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,005
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $150,005

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.

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202441359349304459

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