Instituto Socio-Economico Comunitario Inc
- Assets
- $6.0m
- Revenue
- $23.4m
- Investments
- $0.0
- Employees
- 57
- Location
- San Juan, PR
- Founding
- 02/1988
- Data as of
- 09/2022
- EIN
- 66-0425840
Organization Overview
Instituto Socio-Economico Comunitario Inc is located in San Juan, PR. The organization was established in 1988. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 09/2022, Instituto Socio-Economico Comunitario Inc employed 57 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Instituto Socio-Economico Comunitario 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 09/2022, Instituto Socio-Economico Comunitario Inc generated $23.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.3% each year . All expenses for the organization totaled $23.3m during the year ending 09/2022. While expenses have increased by 13.5% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
IT WAS CREATED TO ENCOURAGE THE OVERCOMING OF POVERTY THROUGH THE PROVISION OF INTEGRATED SERVICES WITH TECHNICAL AND EDUCATIONAL TOOLS THAT PROMOTE ECONOMIC AND SOCIAL SELF-SUFFICIENCY OF INDIVIDUALS, FAMILY AND COMMUNITIES OF LOW INCOME IN PUERTO RICO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CSBG PROGRAM, PROMOTES THE OVERCOMING OF POVERTY OF INDIVIDUALS, FAMILIES AND LOW-INCOME COMMUNITIES IN PUERTO RICO, WITH THE INTEGRATION OF TECHNICAL TOOLS, SOCIAL, ECONOMIC AND EDUCATIONAL. THIS IS ACCOMPLISHED THROUGH THE FOLLOWING PROGRAMS: ON THE JOB TRAINING; EMERGENCY SERVICES, COMMUNITY DEVELOPMENT AND ECONOMIC DEVELOPMENT.
CDBG PROMOTES A BETTER LIFE ENVIRONMENT THROUGH HOUSING REHABILITATION OF LOW INCOME COMMUNITIES IN THE MUNICIPALITY OF MAYAGÜEZ.
URBAN DEVELOPMENT PROMOTES A BETTER LIFE ENVIRONMENT THROUGH HOUSING REHABILITATION OF LOW INCOME COMMUNITIES IN THE MUNICIPALITY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laysha M Seguinot Mendez Executive Director | Officer | 40 | $112,188 |
Suleira Quinones Fontanez Treasury | Trustee | 0 | $0 |
Harry Vega Diaz President | Trustee | 0 | $0 |
Diana Santiago Olivares Vocal | Trustee | 0 | $0 |
Luis Otero Diaz Vocal | Trustee | 0 | $0 |
Nelson E Galarza Vega Vice-President | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $23,369,389 |
| 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 | $23,369,389 |
| Total Program Service Revenue | $0 |
| Investment income | $153 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,369,542 |
| 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. | $162,438 |
| Compensation of current officers, directors, key employees. | $162,438 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,822,461 |
| Pension plan accruals and contributions | $2,169 |
| Other employee benefits | $237,258 |
| Payroll taxes | $249,044 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $30,881 |
| Fees for services: Accounting | $23,198 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $537,435 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $86,306 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $65,366 |
| Insurance | $100,706 |
| All other expenses | $632,793 |
| Total functional expenses | $23,320,710 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $626,738 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,185,665 |
| 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 | $38,543 |
| Net Land, buildings, and equipment | $196,423 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,047,369 |
| Accounts payable and accrued expenses | $2,302,326 |
| Grants payable | $25,159 |
| Deferred revenue | $3,352,940 |
| 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 | $0 |
| Total liabilities | $5,680,425 |
| Net assets without donor restrictions | $366,944 |
| 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 | $6,047,369 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Instituto Socio-Economico Comunitario Inc has recieved totaling $6,843.
| Awarding Organization | Amount |
|---|---|
Community Action Partnership Washington, DC PURPOSE: HURRICANE MARIA PUERTO RICO RELIEF FUND | $6,843 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Instituto Socio-Economico Comunitario Inc San Juan, PR | $6,047,369 | $23,369,542 |
Hogar Crea Inc Trujillo Alto, PR | $29,928,790 | $7,708,813 |
Programa De Educacion Comunal De Entrega Y Servicio Inc Humacao, PR | $4,709,368 | $5,435,743 |
Esperanza Para La Vejez Inc Bayamon, PR | $5,819,695 | $2,443,467 |
Movimiento Para El Alcance De Vida Independiente San Juan, PR | $910,886 | $2,369,502 |
Asociacion De Intercambio Cultural Inc San Juan, PR | $4,597,815 | $1,164,104 |
Centro Deambulantes Cristo Pobre Inc Ponce, PR | $2,486,639 | $1,082,624 |
Apni Inc San Juan, PR | $1,281,231 | $1,119,135 |
Corporacion Milagros Del Amor Caguas, PR | $431,538 | $981,711 |
Coordinadora Paz Para La Mujer Inc San Juan, PR | $1,913,821 | $1,108,026 |
Sfm Charities Inc San Juan, PR | $265,786 | $649,627 |
Fundacion Stefano Steenbakkers Betancourt Corp Bayamon, PR | $143,431 | $740,775 |