Form 990 for tax year 2023
Filed by EDP UNIVERSITY OF PUERTO RICO INC.
Totals
- Total revenue
- $47,513,685
- Total expenses
- $40,388,682
- Contributions and grants received
- $4,082,984
- Grants paid
- $0
- Program service revenue
- $41,835,140
- Investment income
- $404,984
- Other revenue
- $1,190,577
- Total assets, end of year
- $49,675,674
- Total liabilities, end of year
- $15,414,042
- Net assets or fund balances, end of year
- $34,261,632
- Program services expenses (Part IX)
- $26,392,687
- Management and general expenses
- $13,995,995
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $26,392,687
Program services were 65.3% 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)
$3,896,023
-
1f · All other contributions, gifts and grants
$186,961
-
2a · Program service revenue: TUITION AND FEES
total $41,648,653 · related or exempt $41,648,653
-
2b · Program service revenue: OTHER ENROLLMENT&TUITION CHAR
total $186,487 · related or exempt $186,487
-
3 · Investment income
total $404,984 · related or exempt $404,984
-
6a · Gross rents
real property $128,835
-
6c · Rental income or loss
real property $128,835
-
6d · Net rental income or loss
total $128,835 · related or exempt $128,835
-
11a · Other revenue: OTHER REVENUE, NET
total $813,305 · related or exempt $813,305
-
11b · Other revenue: RECOVERY ACCT RECEIVABLE
total $124,458 · related or exempt $124,458
-
11c · Other revenue: UNREALIZED GAIN INVEST&ENDOWM
total $123,979 · related or exempt $123,979
-
11e · Other revenue, total
$1,061,742
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $290,609 · program services $72,652 · management and general $217,957
-
7 · Other salaries and wages
total $15,348,410 · program services $10,874,661 · management and general $4,473,749
-
8 · Pension plan contributions
total $617,002 · program services $436,480 · management and general $180,522
-
9 · Other employee benefits
total $1,158,917 · program services $753,296 · management and general $405,621
-
10 · Payroll taxes
total $1,169,397 · program services $877,048 · management and general $292,349
-
11a · Fees: management
total $5,841,784 · program services $3,827,103 · management and general $2,014,681
-
11b · Fees: legal
total $135,564 · program services $13,556 · management and general $122,008
-
11c · Fees: accounting
total $38,500 · management and general $38,500
-
12 · Advertising and promotion
total $1,231,112 · program services $1,206,490 · management and general $24,622
-
13 · Office expenses
total $246,771 · program services $219,579 · management and general $27,192
-
14 · Information technology
total $373,959 · program services $224,376 · management and general $149,583
-
16 · Occupancy
total $1,824,055 · program services $1,787,574 · management and general $36,481
-
17 · Travel
total $611,613 · program services $489,290 · management and general $122,323
-
19 · Conferences, conventions and meetings
total $326,118 · program services $26,089 · management and general $300,029
-
20 · Interest
total $96,161 · management and general $96,161
-
22 · Depreciation, depletion and amortization
total $1,675,446 · program services $1,479,173 · management and general $196,273
-
23 · Insurance
total $620,212 · program services $155,053 · management and general $465,159
-
24a · Other expenses: OTHER EXPENSES
total $4,638,203 · program services $1,839,300 · management and general $2,798,903
-
24b · Other expenses: PROPOSALS EXPENSES
total $1,546,298 · program services $1,159,724 · management and general $386,574
-
24c · Other expenses: PROVISION FOR BAD DEBTS
total $1,517,593 · management and general $1,517,593
-
24d · Other expenses: UTILITIES AND TELEPHONE
total $1,080,958 · program services $951,243 · management and general $129,715
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $26,550 · end of year $27,050
-
2 · Savings and temporary cash investments
beginning of year $4,011,929 · end of year $8,673,158
-
3 · Pledges and grants receivable
beginning of year $6,247,672 · end of year $916,391
-
4 · Accounts receivable
beginning of year $7,676,594 · end of year $10,111,475
-
9 · Prepaid expenses and deferred charges
beginning of year $292,992 · end of year $448,126
-
10a · Land, buildings and equipment: cost or other basis
$28,596,453
-
10b · Land, buildings and equipment: accumulated depreciation
$14,635,456
-
10c · Land, buildings and equipment, net
beginning of year $12,624,999 · end of year $13,960,997
-
11 · Investments: publicly traded securities
beginning of year $3,047,340 · end of year $9,181,866
-
14 · Intangible assets
beginning of year $343,500 · end of year $343,500
-
15 · Other assets
beginning of year $7,983,752 · end of year $6,013,111
-
17 · Accounts payable and accrued expenses
beginning of year $3,333,505 · end of year $4,581,276
-
19 · Deferred revenue
beginning of year $3,670,014 · end of year $4,863,173
-
24 · Unsecured notes and loans payable
beginning of year $1,218,670 · end of year $1,466,606
-
25 · Other liabilities
beginning of year $6,896,510 · end of year $4,502,987
-
27 · Net assets without donor restrictions
beginning of year $27,136,629 · end of year $34,261,632
Mission and programs · 2023
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, 2024, THE INSTITUTION PROVIDED TECHNOLOGICAL AND SOCIO HUMANISTIC HIGHER EDUCATIONAL SERVICES TO OVER 3,900 STUDENTS. THERE WERE SEVERAL PROJECTS THAT SERVED FIRST YEAR STUDENTS ON THEIR PERSONAL DEVELOPMENT CURRICULUM INTEGRATION AND COUNSELING.
Expenses $26,392,687 · Revenue $43,430,701
As filed on the 2023 return.
Listed in Part VII
-
CPA Rafael Del ValleCPA RAFAEL DEL VALLE
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Lcdo Jose A Alvarado VazquezLCDO JOSE A ALVARADO VAZQUEZ
VICEPRESIDEN
- Total calculated
- $0
- Hours/week
- 1
-
Mr Jan J CotMR JAN J COT
TREASURY
- Total calculated
- $0
- Hours/week
- 1
-
Lcda Sylma CollazoLCDA SYLMA COLLAZO
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Mr Christian L RochetMR CHRISTIAN L ROCHET
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ing Hector RamosING HECTOR RAMOS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dra Rosa Castro AvilaDRA ROSA CASTRO AVILA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dr Alvin Cardona RiveraDR ALVIN CARDONA RIVERA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Lcda Maria Del C BetancourtLCDA MARIA DEL C BETANCOURT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mrs Gladys B NievesMRS GLADYS B NIEVES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Lcda Grymarys De JesusLCDA GRYMARYS DE JESUS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ms Sacha DelgadoMS SACHA DELGADO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
CPA Rosana Lopez SantosCPA ROSANA LOPEZ SANTOS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dr Juan Aviles FontDR JUAN AVILES FONT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ing Guillermo CruzING GUILLERMO CRUZ
EMERITUS MEM
- Total calculated
- $0
- Hours/week
- 1
-
Mr Manuel J VazquezMR MANUEL J VAZQUEZ
EMERITUS MEM
- Total calculated
- $0
- Hours/week
- 1
-
Ing Gladys T Nieves VazquezING GLADYS T NIEVES VAZQUEZ
PRESIDENT
- Total calculated
- $164,495
- From this org
- $161,270
- From related orgs
- $0
- Other
- $3,225
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $150,000
- Bonus
- $11,270
- Other
- not reported
- Deferred
- $3,225
- Nontaxable benefits
- not reported
- Filer's total
- $164,495
-
Dra Marilyn PastranaDRA MARILYN PASTRANA
EXECUTIVE VP
- Total calculated
- $131,926
- From this org
- $129,339
- From related orgs
- $0
- Other
- $2,587
- 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
- 2023
- Filed
- 28 October 2024
- IRS schema version
- 2023v6.0
- Source object
- 202501349349302015
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