Industry University Research Center Inc
- Assets
- $57.8k
- Revenue
- $247.5k
- Investments
- $0.0
- Employees
- 0
- Location
- San Juan, PR
- Founding
- 04/2018
- Data as of
- 12/2021
- EIN
- 66-0497943
Organization Overview
Industry University Research Center Inc, operating under the name Induniv, is located in San Juan, PR. The organization was established in 2018. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Induniv 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 12/2021, Induniv generated $247.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (11.3%) each year. All expenses for the organization totaled $257.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.9%) per year over the past 4 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND CATALYZE EFFECTIVE COLLABORATION AMONG INDUSTRY, ACADEMIA AND GOVERNMENT TO STIMULATE THE DEVELOPMENT OF KNOWLEDGE BASE CAPABILITIES IN OUR INSTITUTIONS, AND WORKFORCE, PROMOTING RESEARCH & INNOVATION IN THE BIOSCIENCES. POSITIONING PUERTO RICO AS A GLOBAL BEST PRACTICE LOCATION OF CHOICE FOR NEW BUSINESS OPPORTUNITIES IN THE BIOPHARMACEUTICAL, MEDICAL DEVICE, AND AGBIO SECTORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STIMULATE THE RESEARCH APPLIED ON PHARMACEUTICAL, CHEMICAL AND RELATED INDUSTRIES, ESTABLISH BRIDGES BETWEEN THE TO STIMULATE THE RESEARCH APPLIED ON PHARMACEUTICAL, CHEMICAL AND RELATED INDUSTRIES, ESTABLISH BRIDGES BETWEEN THE ACADEMY, INDUSTRY AND GOVERNMENT IN SCIENCE AND TECHNOLOGY AREAS, PROMOTE THE RESEARCH AND INDUSTRIAL DEVELOPMENT, AND TO CANALIZE AND MONITOR DESIGNATED FUNDS FOR INFRASTRUCTURE DEVELOPMENT, SPECIAL INDEPENDENT RESEARCH PROJECTS AND WORKFORCE DEVELOPMENT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ivan Lugo Executive Director | Trustee | 40 | $135,510 |
Carlos Tolinche Director For Scientific Matters | Officer | 40 | $88,114 |
Gustavo Hermida Treasurer | Trustee | 3 | $0 |
Lucy Crespo Director | Trustee | 3 | $0 |
Wanda Maldonado Director | Trustee | 3 | $0 |
Jorge Haddock Vice President | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $222,500 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $222,500 |
| Total Program Service Revenue | $24,827 |
| Investment income | $157 |
| 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 | $247,484 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $224,620 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,484 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,581 |
| Advertising and promotion | $0 |
| Office expenses | $762 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $6,633 |
| All other expenses | $715 |
| Total functional expenses | $257,003 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51,924 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,845 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $57,769 |
| Accounts payable and accrued expenses | $1,819 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,819 |
| Net assets without donor restrictions | $55,950 |
| 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 | $57,769 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Invest Puerto Rico Inc San Juan, PR | $6,065,059 | $5,251,268 |
Enterprize Events Inc San Juan, PR | $481,688 | $1,261,497 |
Bluetide Puerto Rico Inc San Juan, PR | $5,254,223 | $6,094,144 |
Protechos Inc San Juan, PR | $112,484 | $566,464 |
Asesores Financieros Comunitarios Inc San Juan, PR | $434,065 | $546,843 |
Conprmetidos San Juan, PR | $1,077,092 | $384,153 |
Endeavor Initiative Puerto Rico Inc San Juan, PR | $246,373 | $496,667 |
Industry University Research Center Inc San Juan, PR | $57,769 | $247,484 |
Vitrina Solidaria San Juan, PR | $46,768 | $223,562 |
El Corredor Tecno Economico De Puerto Rico Y El Caribe Mayaguez, PR | $1,013,851 | $86,019 |
Puerto Rico 4-0 Mts Corporacion Bayamon, PR | $0 | $0 |