Puerto Rican Society
- Assets
- $406.8k
- Revenue
- $250.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Waukegan, IL
- Founding
- 10/1965
- Data as of
- 12/2020
- EIN
- 36-6127344
Organization Overview
Puerto Rican Society is located in Waukegan, IL. The organization was established in 1965. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Puerto Rican Society is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2020, Puerto Rican Society generated $250.3k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 30.4% each year . All expenses for the organization totaled $86.7k during the year ending 12/2020. While expenses have increased by 2.6% per year over the past 5 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
ASSIST MEMBERS IN EMERGENCY SITUATION - CONTRIBUTION TO MEMBERS FOR FUNERAL EXPENSES - SCHOLARSHIPS GIVEN FOR HIGHER EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP DUES
HALL & KITCHEN RENTAL FOR MEMBERS
MEMBERSHIP DUES
HALL & KITCHEN RENTAL FOR MEMBERS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carlos Rivera President | Officer | 40 | $0 |
Melba Rivera Secretary | Officer | 20 | $0 |
Antonio Figueroa Vice President | Officer | 20 | $0 |
Lucy Rios Counselor | Officer | 1 | $0 |
Wilson Cruz Sargent At Arms | Officer | 1 | $0 |
Diego Vega Comptroller | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,013 |
| Investment income | $7 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$115 |
| Net Income from Gaming Activities | $14,883 |
| Net Income from Sales of Inventory | -$6,226 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $250,316 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $5,664 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $4,250 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,500 |
| 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 | $4,186 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $55,946 |
| 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 | $10,949 |
| Insurance | $875 |
| All other expenses | $0 |
| Total functional expenses | $86,699 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $48,293 |
| Savings and temporary cash investments | $29,580 |
| Pledges and grants receivable | $0 |
| 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 | $8,359 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $406,772 |
| Accounts payable and accrued expenses | $0 |
| 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 | $11,000 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $11,000 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $395,772 |
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