Ponce Medical School Foundation Inc
- Assets
- $11.6m
- Revenue
- $25.7m
- Investments
- $0.0
- Employees
- 155
- Location
- Ponce, PR
- Founding
- 01/1984
- Data as of
- 06/2021
- EIN
- 66-0379122
Organization Overview
Ponce Medical School Foundation Inc is located in Ponce, PR. The organization was established in 1984. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 06/2021, Ponce Medical School Foundation Inc employed 155 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ponce Medical School Foundation Inc 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 06/2021, Ponce Medical School Foundation Inc generated $25.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.4% each year . All expenses for the organization totaled $20.0m during the year ending 06/2021. While expenses have increased by 10.2% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Ponce Medical School Foundation Inc has awarded 18 individual grants totaling $1,907,582. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PONCE MEDICAL SCHOOL FOUNDATION, INC. (''PMSF'') MISSION IS TO MAKE A DIFFERENCE BY SOLVING HEALTH DISPARITIES THROUGH GROUNDBREAKING, INNOVATIVE AND RELEVANT RESEARCH THAT HAS A GLOBAL IMPACT IN HEALTHCARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PMSF IS A LEADER IN BIOMEDICAL RESEARCH IN PUERTO RICO AND IS COMPRISED OF HIGHLY ACCOMPLISHED RESEARCHES WITH EXPERTISE IN CANCER, NEUROSCIENCE, HIV AND MENTAL HEALTH. PMSF PROVIDES MODERN RESEARCH FACILITIES THAT FOSTER COLLABORATIVE, INTEGRATIVE BASIC AND CLINICAL RESEARCH. PMSF HOUSES ONE OF THE TOP CLINICAL TRIAL RESEARCH SITES IN PUERTO RICO, THE ONLY CANCER TISSUE REPOSITORY FOR PUERTO RICAN PATIENTS.
THE INSTITUTION HAS PROVIDED EDUCATIONAL AND RESEARCH OPPORTUNITIES FOR PHYSICIANS, PSYCHOLOGISTS, PUBLIC HEALTH AND BIOMEDICAL STUDENTS INTERESTED IN PURSUING RESEARCH CAREERS. PMSF IS A KEY PLAYER IN ONGOING RESEARCH INITIATIVES ON CHIKUNGUYA, DENGUE, AND ZIKA AS IT HOUSES THE MOST COMPREHENSIVE DATABASE. PMSF THROUGH INNO DIAGNOSTICS, A CLIA-CERTIFIED DIAGNOSTIC TESTING LABORATORY, HAS PLAYED A PIVOTAL ROLE IN PROVIDING MOLECULAR TESTING AND VACCINES ADMINISTRATION TO THE SOUTH OF PUERTO RICO DURING THE COVID-19 PANDEMIC. AS OF JUNE 30, 2021, OVER 64,000 PATIENTS FROM SOUTHERN PUERTO RICO HAVE BENEFITED FROM THIS SERVICE, WHICH IS CURRENTLY ONGOING. ALSO, PMSF WERE AWARDED FEDERAL AND PRIVATE GRANTS TO WORK WITH COVID-19 RESEARCH INITIATIVES. PMSF IS ACTIVELY ENGAGED IN IMPROVING THE COMMUNITY'S WELL-BEING AND PARTICIPATING IN IMPORTANT SOCIAL INITIATIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jose Torres Ruiz Chancellor | Officer | 40 | $0 |
Kenira Thompson Garcia Professor | Officer | 40 | $0 |
Vanessa Rivera Amill Associate De | Officer | 40 | $0 |
Elizabeth Barranco Santana Professor & | Officer | 40 | $0 |
Julie Dutil Professor | Officer | 40 | $0 |
James Porter Benedict Professor | Officer | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
University Of South Florida | 6/29/16 | $200,716 |
New Jersey Institue Of Technology | 6/29/16 | $112,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,812,292 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,812,292 |
| Total Program Service Revenue | $3,237,892 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $12,612 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,661,618 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $39,913 |
| 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 | $7,110,904 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $323,778 |
| Payroll taxes | $840,064 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,211,326 |
| Advertising and promotion | $42,990 |
| Office expenses | $43,712 |
| Information technology | $1,079,525 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $28,567 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $41,013 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $518,626 |
| Insurance | $4,858 |
| All other expenses | $1,421,260 |
| Total functional expenses | $19,997,814 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,175,719 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,056,861 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $21,825 |
| Prepaid expenses and deferred charges | $270,634 |
| Net Land, buildings, and equipment | $2,075,820 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,600,859 |
| Accounts payable and accrued expenses | $1,251,067 |
| Grants payable | $0 |
| Deferred revenue | $411,414 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,189,163 |
| Total liabilities | $2,851,644 |
| Net assets without donor restrictions | $8,749,215 |
| Net assets with donor restrictions | $0 |
| 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 | $11,600,859 |
Grants Awarded
Over the last fiscal year, Ponce Medical School Foundation Inc has awarded $39,913 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CDT LAJAS | | | $28,500 |
RESEARCH PMSF | | | $11,413 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Ponce Medical School Foundation Inc has recieved totaling $36,692.
| Awarding Organization | Amount |
|---|---|
Muscular Dystrophy Association Chicago, IL PURPOSE: MEDICAL DIAGNOSIS | $20,000 |
Direct Relief Santa Barbara, CA PURPOSE: SUPPORT TO US CLINICS & HEALTH CENTERS FOR LOW-INCOME, UNINSURED PATIENTS | $15,692 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $1,000 |
Endowment Analysis
| Beg. Balance | $84,234 |
| Grants | -$84,234 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Universidad Del Sagrado Corazon Inc San Juan, PR | $72,736,478 | $47,471,933 |
Carlos Albizu University San Juan, PR | $59,292,567 | $41,107,429 |
Universidad Politecnica De Puerto Rico Inc San Juan, PR | $109,108,435 | $46,473,727 |
Fundacion Para El Desarollo Del Hogar Propio Inc Caguas, PR | $24,112,229 | $27,243,134 |
Edp University Of Pr Inc San Juan, PR | $26,458,514 | $28,833,873 |
Ponce Medical School Foundation Inc Ponce, PR | $11,600,859 | $25,661,618 |
Universidad Central Del Caribe Inc Bayamon, PR | $35,289,249 | $27,377,681 |
Caribbean University Bayamon, PR | $48,412,485 | $17,932,008 |
Baldwin School Of Puerto Rico Inc Bayamon, PR | $21,469,124 | $15,474,261 |
Saint Johns School San Juan, PR | $27,658,039 | $13,804,674 |
Dewey University Inc San Juan, PR | $31,605,242 | $14,746,448 |
Universidad Central De Bayamon Inc Bayamon, PR | $32,277,957 | $11,392,145 |