Sociedad Espanola De Auxilio Mutuo Y Beneficencia De Puerto Rico
- Assets
- $207.4m
- Revenue
- $42.9m
- Investments
- $0.0
- Employees
- 28
- Location
- San Juan, PR
- Founding
- 06/1981
- Data as of
- 09/2021
- EIN
- 66-0178704
Organization Overview
Sociedad Espanola De Auxilio Mutuo Y Beneficencia De Puerto Rico is located in San Juan, PR. The organization was established in 1981. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 09/2021, Sociedad Espanola DE Auxilio Mutuo Y Beneficencia DE Puerto Rico employed 28 individuals. This organization is the central organization for a national or regional group of organizations. Sociedad Espanola DE Auxilio Mutuo Y Beneficencia DE Puerto Rico 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 09/2021, Sociedad Espanola DE Auxilio Mutuo Y Beneficencia DE Puerto Rico generated $42.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $39.3m during the year ending 09/2021. While expenses have increased by 2.4% per year over the past 6 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
SOCIEDAD ESPAOLA DE AUXILIO MUTUO Y BENEFICENCIA DE PUERTO RICO (THE COMPANY) HAD BEEN PREVIOUSLY FILING AS A 501 (C) (3) ORGANIZATION. ON APRIL 29, 1992 A NEW NONPROFIT ORGANIZATION WAS CREATED TO CONTINUE PROVIDING THE HOSPITAL AND HEALTH CARE SERVICES PREVIOUSLY PROVIDED UNDER THE LEGAL NAME OF THE COMPANY. ON AUGUST 20, 1992 THIS CHANGE WAS REPORTED TO THE EXEMPT ORGANIZATIONS BRANCH OF THE INTERNAL REVENUE SERVICE. THE IRS WAS INFORMED THAT THE COMPANY WOULD BECOME A CONTROLLING AFFILIATE THAT WOULD OWNED THE REAL PROPERTY AND WOULD TRANSFER ITS FUNDS (INCOME LESS EXPENSES) FOR USE IN A MANNER CONSISTENT WITH THE EXEMPTION. ON SEPTEMBER 30, 1992 THE IRS INFORMED THAT THE COMPANY IS NOT REQUIRED TO FILE A NEW APPLICATION FOR TAX EXEMPTION AS A TITLE HOLDING CORPORATION. THE COMPANY ALSO ADMINISTERS A HEALTH PLAN UNDER WHICH INDIVIDUALS IN THE COMMUNITY (WITHOUT EXCEPTIONS) MAY BECOME MEMBERS WITH THE RIGHT TO RECEIVE HOSPITAL AND HEALTH CARE SERVICES AT THE FACILITIES OF HOSPITAL E
Describe the Organization's Program Activity:
Part 3 - Line 4a
PLAN MEMBERS COVERED BY THE COMPANY'S HEALTH PLAN - 25,143.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Luis E Cid Abradelo Vowels | Trustee | $0 | |
Milagros Romero Acha Vowels | Trustee | $0 | |
Emilio Torres Antuano Vowels | Trustee | $0 | |
Roberto Santana Aparicio Vowels | Trustee | $0 | |
Rafael A Vil Carrin Vowels | Trustee | $0 | |
Valentn Valderrbano Brcena Vice-Preside | Trustee | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sg Construction Construction | 9/29/21 | $683,237 |
Carlos Lazaro Leon & Assoc Engineering | 9/29/21 | $553,655 |
Quickline Pavement Construction | 9/29/21 | $347,593 |
Insurance Solution Propaganda | 9/29/21 | $380,490 |
Oncology & Body Medical | 9/29/21 | $336,992 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,880 |
| 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 | $2,880 |
| Total Program Service Revenue | $40,744,429 |
| Investment income | $879,621 |
| 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 | $42,942,928 |
| 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 | $785,792 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $23,831 |
| Payroll taxes | $91,460 |
| 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 | $0 |
| 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 | $3,543,827 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,975,518 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $39,305,018 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,791,666 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $847,621 |
| 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 | $576,011 |
| Net Land, buildings, and equipment | $108,953,513 |
| Investments—publicly traded securities | $72,409,659 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,816,386 |
| Total assets | $207,394,856 |
| Accounts payable and accrued expenses | $8,106,367 |
| Grants payable | $0 |
| Deferred revenue | $670,167 |
| Tax-exempt bond liabilities | $51,080,576 |
| 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 | $0 |
| Other liabilities | $466,487 |
| Total liabilities | $60,323,597 |
| Net assets without donor restrictions | $146,795,290 |
| Net assets with donor restrictions | $275,969 |
| 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 | $207,394,856 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hospital De La Concepcion Inc San German, PR | $118,926,388 | $92,905,006 |
Ryder Memorial Hospital Inc Humacao, PR | $33,920,487 | $48,860,156 |
Sociedad Espanola De Auxilio Mutuo Y Beneficencia De Puerto Rico San Juan, PR | $207,394,856 | $42,942,928 |
Hospital San Carlos Incorporado Moca, PR | $19,822,154 | $27,495,424 |
Hospital General De Castaner Inc Castaner, PR | $34,642,602 | $28,347,686 |
Liga Puertorriquena Contra El Cancer San Juan, PR | $38,669,713 | $26,629,150 |