Boricua College
- Assets
- $52.6m
- Revenue
- $7.2m
- Investments
- $0.0
- Employees
- 193
- Location
- New York, NY
- Founding
- 01/1976
- Data as of
- 06/2023
- EIN
- 51-0175975
Organization Overview
Boricua College is located in New York, NY. The organization was established in 1976. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2023, Boricua College employed 193 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Boricua College 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, Boricua College generated $7.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.6%) each year. All expenses for the organization totaled $11.9m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
BORICUA COLLEGE IS COMMITTED TO THE PRINCIPLE THAT CULTURE CANNOT BE SEPARATED FROM EDUCATION. BORICUA AIMS TO PROVIDE A SOLID FOUNDATION THROUGH INDIVIDUALIZED PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O FOR PROGRAM SERVICE ACCOMPLISHMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Victor G Alicea PHD President | OfficerTrustee | 40 | $161,660 |
Irving Ramirez VP & Dean Of Academic Affairs | Officer | 40 | $74,975 |
John Guzman VP & Dean Of Academic Affairs | Officer | 40 | $74,307 |
Elias Oyola CFO | Officer | 40 | $73,310 |
Francia Castro VP For Human Resources And Per | Officer | 40 | $69,534 |
Moises Pereyra VP & Dean Of Academic Affairs | Officer | 40 | $68,085 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bryan Cave Leighton Paisner Llp Legal Services | 6/29/23 | $123,459 |
Withumsmithbrown Pc Audit & Accounting | 6/29/23 | $108,329 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,180,723 |
| All other contributions, gifts, grants, and similar amounts not included above | $37,047 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,217,770 |
| Total Program Service Revenue | $5,863,998 |
| Investment income | $287,700 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $226,000 |
| Net Gain/Loss on Asset Sales | -$400,323 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,204,029 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $689,270 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $578,877 |
| Compensation of current officers, directors, key employees. | $475,992 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,057,254 |
| Pension plan accruals and contributions | $64,690 |
| Other employee benefits | $1,063,443 |
| Payroll taxes | $494,716 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $67,056 |
| Fees for services: Accounting | $101,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $58,102 |
| Fees for services: Other | $35,877 |
| Advertising and promotion | $31,362 |
| Office expenses | $508,412 |
| Information technology | $95,721 |
| Royalties | $0 |
| Occupancy | $625,481 |
| Travel | $161,824 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,316 |
| Interest | $208,231 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,251,957 |
| Insurance | $284,949 |
| All other expenses | $0 |
| Total functional expenses | $11,901,807 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $413,986 |
| Savings and temporary cash investments | $358,158 |
| Pledges and grants receivable | $537,398 |
| Accounts receivable, net | $410,444 |
| 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 | $132,685 |
| Net Land, buildings, and equipment | $47,633,894 |
| Investments—publicly traded securities | $2,817,064 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $268,757 |
| Total assets | $52,572,386 |
| Accounts payable and accrued expenses | $1,521,519 |
| Grants payable | $0 |
| Deferred revenue | $129,846 |
| 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 | $10,394,510 |
| Other liabilities | $502,512 |
| Total liabilities | $12,548,387 |
| Net assets without donor restrictions | $38,722,080 |
| Net assets with donor restrictions | $1,301,919 |
| 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 | $52,572,386 |