Caribbean University
- Assets
- $48.4m
- Revenue
- $17.9m
- Investments
- $0.0
- Employees
- 209
- Location
- Bayamon, PR
- Founding
- 11/1974
- Data as of
- 06/2021
- EIN
- 23-7409172
Organization Overview
Caribbean University is located in Bayamon, PR. The organization was established in 1974. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Caribbean University employed 209 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Caribbean University 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, Caribbean University generated $17.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.1%) each year. All expenses for the organization totaled $16.4m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (6.5%) per year over the past 6 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
PROVIDE HIGHER EDUCATION TO SUB-GRADUATED, GRADUATED, AND DOCTORAL STUDENTS UNDER DEGREE PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL SERVICES FOR 2884 UNDERGRADUATE AND 1396 GRADUATE STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ana E Cucurella President | Officer | 40 | $142,500 |
Hector Gracia Gracia VP Finanzas | Officer | 40 | $76,000 |
Elena Garcia Compliance Director | Officer | 40 | $66,880 |
Victor Adorno Badillo Executive Director | Officer | 40 | $60,420 |
Keneth Oliveras Secretary Of Board Of Directors | Trustee | 1 | $0 |
Teresita Rivera Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
New Security Investigations Security | 6/29/21 | $493,075 |
C&r Contractors Construction | 6/29/21 | $172,419 |
Blue Ocean Industries Llc It Consulting | 6/29/21 | $253,884 |
Energy And Enviromental Consulting Consulting Services | 6/29/21 | $150,259 |
Palmas Y Plantas Del Centro Services | 6/29/21 | $102,626 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,672,467 |
| 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 | $4,672,467 |
| Total Program Service Revenue | $13,258,067 |
| Investment income | $1,474 |
| 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 | $17,932,008 |
| 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 | $5,275,549 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $875,377 |
| 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 | $1,071,335 |
| Advertising and promotion | $270,597 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $541,895 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,321,035 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,374,743 |
| Insurance | $570,960 |
| All other expenses | $1,495,722 |
| Total functional expenses | $16,421,889 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,983,563 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,497,156 |
| 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 | $235,174 |
| Net Land, buildings, and equipment | $40,473,710 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $222,882 |
| Total assets | $48,412,485 |
| Accounts payable and accrued expenses | $2,674,973 |
| 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 | $27,585,121 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $30,260,094 |
| Net assets without donor restrictions | $18,022,865 |
| Net assets with donor restrictions | $129,526 |
| 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 | $48,412,485 |
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 |