Caribbean University
- Assets
- $49.1m
- Revenue
- $24.0m
- Investments
- $0.0
- Employees
- 341
- Location
- Bayamon, PR
- Founding
- 11/1974
- Data as of
- 06/2022
- EIN
- 23-7409172
Organization Overview
Caribbean University is located in Bayamon, PR. The organization was established in 1974. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2022, Caribbean University employed 341 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Caribbean University is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Caribbean University generated $24.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $17.5m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE HIGHER EDUCATION TO SUB-GRADUATED, GRADUATED, AND DOCTORAL STUDENTS UNDER DEGREE PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL SERVICES FOR 2480 UNDERGRADUATE AND 798 GRADUATE STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ana E Cucurella President | Officer | 40 | $167,500 |
Hector Gracia Gracia VP Finanzas | Officer | 40 | $76,000 |
Elena Garcia Compliance Director | Officer | 40 | $66,880 |
Victor Adorno Badillo Executive Director | Officer | 40 | $60,420 |
Keneth Oliveras Secretary Of Board Of Directors | Trustee | 1 | $0 |
Teresita Rivera Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
New Security Investigations Security | 6/29/22 | $521,037 |
C&r Contractors Construction | 6/29/22 | $485,164 |
Blue Ocean Industries Llc It Consulting | 6/29/22 | $296,876 |
Palmas Y Plantas Del Centro Services | 6/29/22 | $209,382 |
Eh Consultant Llc Consulting | 6/29/22 | $270,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,853,443 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,853,443 |
| Total Program Service Revenue | $10,811,348 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,324,881 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,989,672 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,648,770 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $873,931 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $194,084 |
| Fees for services: Accounting | $115,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,520,065 |
| Advertising and promotion | $866,582 |
| Office expenses | $289,761 |
| Information technology | $296,876 |
| Royalties | $0 |
| Occupancy | $731,972 |
| Travel | $47,770 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,034,195 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,405,814 |
| Insurance | $599,084 |
| All other expenses | $1,692,148 |
| Total functional expenses | $17,488,018 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,569,519 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,355,032 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $195,509 |
| Net Land, buildings, and equipment | $39,723,126 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $222,882 |
| Total assets | $49,066,068 |
| Accounts payable and accrued expenses | $2,508,446 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $21,903,577 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $24,412,023 |
| Net assets without donor restrictions | $24,524,519 |
| Net assets with donor restrictions | $129,526 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $49,066,068 |