Puerto Rican Org For Community Educational & Economic Development
- Assets
- $12.1m
- Revenue
- $12.2m
- Investments
- $0.0
- Employees
- 90
- Location
- Elizabeth, NJ
- Founding
- 04/1984
- Data as of
- 06/2023
- EIN
- 22-2088378
Organization Overview
Puerto Rican Org For Community Educational & Economic Development is located in Elizabeth, NJ. The organization was established in 1984. According to its NTEE Classification (P84) the organization is classified as: Ethnic & Immigrant Centers, under the broad grouping of Human Services and related organizations. As of 06/2023, Puerto Rican Org For Community Educational & Economic Development employed 90 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Puerto Rican Org For Community Educational & Economic Development 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 06/2023, Puerto Rican Org For Community Educational & Economic Development generated $12.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $11.8m during the year ending 06/2023. While expenses have increased by 2.8% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
P.R.O.C.E.E.D., INC. WAS ESTABLISHED TO PROMOTE HUMAN EMPOWERMENT AND CIVIC RESPONSIBILITY, AND TO FACILITATE QUALITY OF LIFE OPPORTUNITIES FOR ECONOMICALLY AND SOCIALLY DISADVANTAGED POPULATIONS. IT IS GUIDED BY A COMMITMENT TO THE PRINCIPLES OF INDIVIDUAL AFFIRMATION, FAMILY PRESERVATION AND COMMUNITY DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY DEVELOPMENT- PROVIDES SERVICES ON HOME ENERGY AND SECURITY IMPROVEMENTS, HOME ENERGY ASSISTANCE AND TRANSITIONAL HOUSING FOR HOMELESS.
CHILDREN SERVICES- PROVIDES A LICENSED DAY CARE FOR AGES 3 TO 4 YEARS OLD UP TO 60 SLOTS. PROVIDES PRESCHOOL PROGRAM FOR CHILDREN BETWEEN AGES OF 3 TO 4 YEARS, UP TO 45 SLOTS.
INDIVIDUAL AND FAMILY DEVELOPMENT- PROVIDES SERVICES TO PERSONS AFFECTED DIRECTLY OR INDIRECTLY WITH THE USE OF ALCOHOL AND OTHER DRUGS. PROVIDES GENERAL ADVOCACY, BACK TO WORK REHABILITATION AND OUTPATIENT COUNSELING SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Silvia Fonseca Secretary | Trustee | 2 | $0 |
Carlos N Sanchez Chairperson | Trustee | 2 | $0 |
Teresa Soto Vega Executive Director | Trustee | 60 | $234,507 |
Harold Cabezas Treasurer | Trustee | 1 | $0 |
William O'dea Vice Chairperson | Trustee | 2 | $0 |
Yalitza Torres Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Palmer Heating Llc Contract Labor & Materials | 6/29/23 | $908,743 |
National Youth Leadership Council Contract Labor & Materials | 6/29/23 | $144,642 |
El Centro Inc Contract Labor & Materials | 6/29/23 | $113,898 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $11,803,669 |
| All other contributions, gifts, grants, and similar amounts not included above | $53,906 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,857,575 |
| Total Program Service Revenue | $317,245 |
| Investment income | $25,827 |
| 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 | $12,200,647 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,760,211 |
| 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 | $5,085,576 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,493,243 |
| Payroll taxes | $0 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $43,230 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $75,924 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $152,568 |
| Interest | $45,614 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $206,642 |
| Insurance | $151,614 |
| All other expenses | $116,549 |
| Total functional expenses | $11,781,245 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,049,665 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,759,384 |
| Accounts receivable, net | $0 |
| 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 | $104,341 |
| Net Land, buildings, and equipment | $6,129,854 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $87,958 |
| Other assets | $6,250 |
| Total assets | $12,137,452 |
| Accounts payable and accrued expenses | $737,375 |
| Grants payable | $0 |
| Deferred revenue | $703,084 |
| 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 | $1,478,905 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,919,364 |
| Net assets without donor restrictions | $8,553,994 |
| Net assets with donor restrictions | $664,094 |
| 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 | $12,137,452 |