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Nonprofiteer
← THE PROMESA HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2024

Filed by THE PROMESA HOUSING DEVELOPMENT FUND CORPORATION.

Totals

Total revenue
$5,678,952
Total expenses
$7,060,417
Contributions and grants received
$400,000
Grants paid
$0
Program services expenses (Part IX)
$6,517,749
Management and general expenses
$542,668
Fundraising expenses
$0
Program service expenses (Part III)
$6,517,749

Program services were 92.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

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
    0 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $693,183 related
    Bonus
    $0 + $203,414 related
    Other
    $0
    Deferred
    $0 + $50,625 related
    Nontaxable benefits
    $0 + $51,205 related
    Filer's total
    $0 + $998,427 related

  • LYMARIS ALBORS

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $892,752
    From this org
    $0
    From related orgs
    $836,684
    Other
    $56,068
    Hours/week
    0 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $645,440 related
    Bonus
    $0 + $191,244 related
    Other
    $0
    Deferred
    $0 + $39,177 related
    Nontaxable benefits
    $0 + $16,891 related
    Filer's total
    $0 + $892,752 related

  • JOSE A RODRIGUEZ

    CHIEF LEGAL OFFICER/EXEC. VP

    Total calculated
    $592,593
    From this org
    $0
    From related orgs
    $562,331
    Other
    $30,262
    Hours/week
    0 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $513,136 related
    Bonus
    $0 + $49,195 related
    Other
    $0
    Deferred
    $0 + $16,500 related
    Nontaxable benefits
    $0 + $13,762 related
    Filer's total
    $0 + $592,593 related

  • VICKY GATELL

    CHIEF FINANCIAL OFFICER

    Total calculated
    $488,994
    From this org
    $0
    From related orgs
    $442,213
    Other
    $46,781
    Hours/week
    0 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $403,779 related
    Bonus
    $0 + $38,434 related
    Other
    $0
    Deferred
    $0 + $16,500 related
    Nontaxable benefits
    $0 + $30,281 related
    Filer's total
    $0 + $488,994 related

  • LORRAINE COLEMAN

    VP OF SPECIAL PROJECTS

    Total calculated
    $247,377
    From this org
    $204,061
    From related orgs
    $0
    Other
    $43,316
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $204,061
    Bonus
    $0
    Other
    $0
    Deferred
    $12,664
    Nontaxable benefits
    $30,652
    Filer's total
    $247,377

  • DAVID ALMONTE

    DIRECTOR - HOUSING DEVELOPMENT

    Total calculated
    $245,838
    From this org
    $199,442
    From related orgs
    $0
    Other
    $46,396
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $189,442
    Bonus
    $10,000
    Other
    $0
    Deferred
    $9,708
    Nontaxable benefits
    $36,688
    Filer's total
    $245,838

  • ANNE-MARIE A HENDRICKSON

    SR. VP OF AFFORABLE HOUSING

    Total calculated
    $208,347
    From this org
    $194,327
    From related orgs
    $0
    Other
    $14,020
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $194,327
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $14,020
    Filer's total
    $208,347

  • CORNELIA NAROVICI

    CONSTRUCTION DIRECTOR

    Total calculated
    $188,982
    From this org
    $167,171
    From related orgs
    $0
    Other
    $21,811
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $157,171
    Bonus
    $10,000
    Other
    $0
    Deferred
    $7,791
    Nontaxable benefits
    $14,020
    Filer's total
    $188,982

  • ELIEZER RODRIGUEZ ESQ

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 10 related

  • CARMEN S MELERO

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 10 related

  • MARYBETH HOTALING

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 10 related

  • GILBERT HERNANDEZ

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 10 related

  • ARNIE SEGARRA

    MEMBER

    Total calculated
    $0
    Hours/week
    1 + 10 related

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 — 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 Part I Line 7:
The Bonuses for the CEO and President are approved by the Board of the Parent entity. The remaining executive bonuses are approved by the CEO.
Schedule J Part I Line 3:
Pursuant to the Organization's 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.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
15 November 2025
IRS schema version
2024v5.2
Source object
202503149349304560

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