Initiative For Independent Schooling In Puerto Rico Inc
- Assets
- $179.9k
- Revenue
- $300.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Aguadilla, PR
- Founding
- 04/2010
- Data as of
- 12/2021
- EIN
- 66-0725543
Organization Overview
Initiative For Independent Schooling In Puerto Rico Inc is located in Aguadilla, PR. The organization was established in 2010. According to its NTEE Classification (B21) the organization is classified as: Preschools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Initiative For Independent Schooling In Puerto Rico 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 12/2021, Initiative For Independent Schooling In Puerto Rico Inc generated $300.8k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $288.8k during the year ending 12/2021. While expenses have increased by 10.9% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATIONAL SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margaret Mayer President | Trustee | 10 | $0 |
Arilena Morgan Vice President | Trustee | 8 | $0 |
Keisha Carabal Secretary | Trustee | 8 | $0 |
Steve Blood Treasurer | Trustee | 8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $31,100 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,975 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $52,075 |
| Total Program Service Revenue | $248,726 |
| 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 | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $300,801 |
| 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 | $166,306 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $18,177 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $28,905 |
| Advertising and promotion | $0 |
| Office expenses | $3,561 |
| 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 | $8,362 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $288,761 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $103,777 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,897 |
| 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 | $73,186 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $179,860 |
| Accounts payable and accrued expenses | $4,957 |
| 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 | $30,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $34,957 |
| Net assets without donor restrictions | $144,903 |
| 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 | $179,860 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Initiative For Independent Schooling In Puerto Rico Inc has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Puerto Rico Community Foundation Inc San Juan, PR PURPOSE: Educacion | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pontifical Catholic University Of Puerto Rico Ponce, PR | $161,066,580 | $97,269,712 |
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 |