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Nonprofiteer
← EDP UNIVERSITY OF PUERTO RICO INC

Form 990 for tax year 2022

Filed by EDP UNIVERSITY OF PUERTO RICO INC.

Totals

Total revenue
$42,452,657
Total expenses
$36,345,687
Contributions and grants received
$3,410,979
Grants paid
$0
Program service revenue
$32,277,418
Investment income
$112,511
Other revenue
$6,651,749
Total assets, end of year
$42,255,328
Total liabilities, end of year
$15,118,699
Net assets or fund balances, end of year
$27,136,629
Program services expenses (Part IX)
$23,648,643
Management and general expenses
$12,697,044
Fundraising expenses
$0
Program service expenses (Part III)
$23,648,643

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.

  • 1e · Government grants (contributions)

    $3,099,087

  • 1f · All other contributions, gifts and grants

    $311,892

  • 2a · Program service revenue: TUITION AND FEES

    total $32,042,264 · related or exempt $32,042,264

  • 2b · Program service revenue: OTHER ENROLLMENT&TUITION CHAR

    total $235,154 · related or exempt $235,154

  • 3 · Investment income

    total $112,511 · related or exempt $112,511

  • 6a · Gross rents

    real property $149,978

  • 6c · Rental income or loss

    real property $149,978

  • 6d · Net rental income or loss

    total $149,978 · related or exempt $149,978

  • 11a · Other revenue: TOTAL EMPL RET TAX CRED(ERTC)

    total $5,648,566 · related or exempt $5,648,566

  • 11b · Other revenue: OTHER REVENUE, NET

    total $822,067 · related or exempt $822,067

  • 11c · Other revenue: INSURANCE RECOVERY

    total $31,138 · related or exempt $31,138

  • 11e · Other revenue, total

    $6,501,771

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $289,800 · program services $72,500 · management and general $217,300

  • 7 · Other salaries and wages

    total $12,707,360 · program services $9,025,512 · management and general $3,681,848

  • 8 · Pension plan contributions

    total $103,651 · program services $58,675 · management and general $44,976

  • 9 · Other employee benefits

    total $1,082,851 · program services $703,852 · management and general $378,999

  • 10 · Payroll taxes

    total $1,067,123 · program services $800,342 · management and general $266,781

  • 11a · Fees: management

    total $6,749,814 · program services $3,928,193 · management and general $2,821,621

  • 11b · Fees: legal

    total $99,937 · program services $9,500 · management and general $90,437

  • 11c · Fees: accounting

    total $19,000 · management and general $19,000

  • 12 · Advertising and promotion

    total $1,768,732 · program services $1,733,357 · management and general $35,375

  • 13 · Office expenses

    total $375,778 · program services $310,669 · management and general $65,109

  • 14 · Information technology

    total $511,330 · program services $257,562 · management and general $253,768

  • 16 · Occupancy

    total $1,797,074 · program services $1,581,425 · management and general $215,649

  • 17 · Travel

    total $552,276 · program services $447,155 · management and general $105,121

  • 19 · Conferences, conventions and meetings

    total $234,804 · program services $19,549 · management and general $215,255

  • 20 · Interest

    total $137,239 · management and general $137,239

  • 22 · Depreciation, depletion and amortization

    total $1,540,122 · program services $1,355,307 · management and general $184,815

  • 23 · Insurance

    total $291,753 · program services $72,938 · management and general $218,815

  • 24a · Other expenses: OTHER EXPENSES

    total $2,694,905 · program services $619,500 · management and general $2,075,405

  • 24b · Other expenses: UTILITIES AND TELEPHONE

    total $1,126,501 · program services $991,321 · management and general $135,180

  • 24c · Other expenses: EDUCATIONAL EXPENSES

    total $840,343 · program services $840,343

  • 24d · Other expenses: PROVISION FOR BAD DEBTS

    total $728,075 · management and general $728,075

  • 24e · All other expenses

    total $1,627,219 · program services $820,943 · management and general $806,276

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,550 · end of year $26,550

  • 2 · Savings and temporary cash investments

    beginning of year $6,447,586 · end of year $4,011,929

  • 3 · Pledges and grants receivable

    beginning of year $348,559 · end of year $6,247,672

  • 4 · Accounts receivable

    beginning of year $5,397,114 · end of year $7,676,594

  • 9 · Prepaid expenses and deferred charges

    beginning of year $307,426 · end of year $292,992

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

    $25,585,009

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

    $12,960,010

  • 10c · Land, buildings and equipment, net

    beginning of year $11,764,433 · end of year $12,624,999

  • 11 · Investments: publicly traded securities

    beginning of year $2,515,504 · end of year $3,047,340

  • 14 · Intangible assets

    beginning of year $343,500 · end of year $343,500

  • 15 · Other assets

    beginning of year $71,271 · end of year $7,983,752

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,892,630 · end of year $3,333,505

  • 19 · Deferred revenue

    beginning of year $3,572,453 · end of year $3,670,014

  • 24 · Unsecured notes and loans payable

    beginning of year $713,201 · end of year $1,218,670

  • 25 · Other liabilities

    end of year $6,896,510

  • 27 · Net assets without donor restrictions

    beginning of year $21,029,659 · end of year $27,136,629

Mission and programs · 2022

Mission

TO OFFER GRADUATE AND UNDERGRADUATE ACADEMIC PROGRAMS THAT PROMOTE ACTIVE LEARNING AND THE INTEGRAL DEVELOPMENT OF STUDENTS, AS THEY ARE THE CENTER OF THE EDUCATIONAL PROCESS.

Activities or mission (Part I)

TO OFFER GRADUATE AND UNDERGRADUATE ACADEMIC PROGRAMS THAT PROMOTE ACTIVE LEARNING AND THE INTEGRAL DEVELOPMENT OF STUDENTS, AS THEY ARE THE CENTER OF THE EDCUCATIONAL PROCESS.

  • DURING THE YEAR ENDED JUNE 30, 2023, THE INSTITUTION PROVIDED TECHNOLOGICAL AND SOCIO HUMANISTIC HIGHER EDUCATIONAL SERVICES TO OVER 3,200 STUDENTS. THERE WERE SEVERAL PROJECTS THAT SERVED FIRST YEAR STUDENTS ON THEIR PERSONAL DEVELOPMENT CURRICULUM INTEGRATION AND COUNSELING.

    Expenses $23,648,643 · Revenue $39,041,678

As filed on the 2022 return.

Listed in Part VII

  • CPA Rafael Del Valle

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Mr Jan J Cot

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Lcdo Jose A Alvarado Vazquez

    VICE-PRESIDE

    Total calculated
    $0
    Hours/week
    1

  • Sr Christian L Rochet

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lcda Sylma Collazo

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Ing Hector Ramos

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dra Rosa Castro Avila

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Alvin Cardona Rivera

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lcda Maria Del C Betancourt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mrs Gladys B Nieves

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lcda Grymarys De Jesus

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sra Sacha Delgado

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CPA Rosana Lopez Santos

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Juan Aviles Font

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ing Guillermo Cruz Gonzalez

    EMERITUS MEM

    Total calculated
    $0
    Hours/week
    1

  • Mr Manuel J Vazquez

    EMERITUS MEM

    Total calculated
    $0
    Hours/week
    1

  • Ing Gladys T Nieves Vazquez

    PRESIDENT

    Total calculated
    $164,220
    From this org
    $161,000
    From related orgs
    $0
    Other
    $3,220
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,000
    Bonus
    $11,000
    Other
    not reported
    Deferred
    $3,220
    Nontaxable benefits
    not reported
    Filer's total
    $164,220

  • Dra Marilyn Pastrana Muriel

    VICE-PRESIDE

    Total calculated
    $128,800
    From this org
    $128,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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 · Independent compensation consultant
  • 3 · Approval by the board or compensation committee

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

The filer's explanations (Part III)

SCHEDULE J, PAGE 1, PART I, LINE 3
AN AD-HOC COMMITTEE FROM THE BOARD OF TRUSTEES WAS ESTABLISHED TO PROPOSE AND SECURE A COMPENSATION PACKAGE THAT FOLLOWED A 360 EVALUATION OF THE PRESIDENT LED BY AN EXTERNAL CONSULTANT, WITH EXTENSIVE EXPERIENCE IN HIGHER EDUCATION AND ACCREDITATION.

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
10 May 2024
IRS schema version
2022v5.0
Source object
202431359349313403

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