Asociacion Hecho En Puerto Rico Inc
- Assets
- $1.6m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 9
- Location
- San Juan, PR
- Founding
- 08/2010
- Data as of
- 02/2023
- EIN
- 66-0262723
Organization Overview
Asociacion Hecho En Puerto Rico Inc is located in San Juan, PR. The organization was established in 2010. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 02/2023, Asociacion Hecho En Puerto Rico Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asociacion Hecho En Puerto Rico Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 02/2023, Asociacion Hecho En Puerto Rico Inc generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $2.0m during the year ending 02/2023. While expenses have increased by 8.0% per year over the past 4 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
TO PROMOTE LOCALLY MADE PRODUCTS THROUGH VARIOUS ACTIVITIES HELD AND THROUGH SEEKING LEGISLATION AND LAWS IN BEHALF OF PUERTO RICAN INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXHIBITIONS AND FAIRS CARRIED OUT TO EXHIBIT LOCALLY MADE PRODUCTS AND SERVICES. THESE ACTIVITIES ARE HELD FOR THE GENERALPUBLIC WHO HAS THE OPPORTUNITY TO SEE ALL PRODUCTS AND SERVICES MADE IN PUERTO RICO. THESE MEMBERS MAKE CONTACTS WITHIN THEM TO SELL THEIR PRODUCTS AND SERVICES.
DESCRIBE SCHEDULE O
SEMINARS, FORUMS AND PROMOTION ACTIVITIES. ACTIVITIES CARRIED OUT TO INFORM MEMBERS AND GENERAL PUBLIC OF NEW LEGISLATION FOR INDUSTRIES AND GENERAL BUSINESSES. PROMOTES REUNIONS BETWEEN MANUFACTURERS AND SERVICES PROVIDERS WITH THE GOBERMENTAL AGENCIES AND OUT OF TOWN ENTREPENEURS FOR POTENTIAL BUSINESS ACTIVITIES.
ANNUAL MEMBERS MEETINGS ITS MAIN PURPOSE IS TO PROMOTE LOCALLY MADE PRODUCTS AND SERVICES BY OFFERING SEMINARS AND CONFERENCE TO COVERS VARIOUS THEME, INCLUDING NEW LEGISLATIONS AND REGULATIONS FOR THE INDUSTRY. DURING THE CONVENTION, AN AWARD ACTIVITY ID HELD TO RECOGNIZE THE QUALITY AND EXCELLENT OF VARIOUS COMPANIES FOR THEIR PRODUCTS AND SERVICES MADE IN PUERTO RICO. INSTITUTIONAL ADVERTISING CAMPAIGN INCLUDING PRESS RELEASES, MEETINGS, RADIO PROGRAM SPORTS AND A WEBSITE TO PROMOTE LOCALLY MADE IN PRODUCTS AND SERVICES IN BEHALF OF THE MEMBERS, FREE OF CHARGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Teresa Berrios Executive Director | Officer | 40 | $72,037 |
Carmen Ramirez Administrator | Officer | 40 | $50,303 |
Marta Rodriguez Treasurer | Officer | 8 | $0 |
Jorge Ramirez Director | Officer | 8 | $0 |
Salvador Ramirez Cardona Secretary | Officer | 8 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lugi Llc Professional Services | 2/27/23 | $285,338 |
Nechodoma Consulting Llc Professional Services | 2/27/23 | $150,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $278,307 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $712,066 |
| All other contributions, gifts, grants, and similar amounts not included above | $271,740 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,262,113 |
| Total Program Service Revenue | $883,579 |
| Investment income | $1,395 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $36,000 |
| 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 | $2,183,087 |
| 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. | $131,825 |
| Compensation of current officers, directors, key employees. | $28,901 |
| Compensation to disqualified persons | $118,142 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $24,003 |
| Payroll taxes | $24,186 |
| Fees for services: Management | $102,825 |
| Fees for services: Legal | $39,950 |
| 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 | $375,189 |
| Advertising and promotion | $300,061 |
| Office expenses | $112,031 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $25,494 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $562,485 |
| Interest | $17,138 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $60,369 |
| Insurance | $12,422 |
| All other expenses | $16,429 |
| Total functional expenses | $1,985,412 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $633,040 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $347,906 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $442 |
| Prepaid expenses and deferred charges | $111,545 |
| Net Land, buildings, and equipment | $518,466 |
| Investments—publicly traded securities | $13,676 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,625,075 |
| Accounts payable and accrued expenses | $148,656 |
| Grants payable | $0 |
| Deferred revenue | $486,175 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $634,831 |
| Net assets without donor restrictions | $603,239 |
| Net assets with donor restrictions | $387,005 |
| 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 | $1,625,075 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alianza De Centros De Salud Comunitaria Inc Guaynabo, PR | $5,233,156 | $6,190,020 |
Colegio De Ingenieros Y Agrimensores De Pr San Juan, PR | $33,678,511 | $6,136,424 |
Asociacion Hecho En Puerto Rico Inc San Juan, PR | $1,625,075 | $2,183,087 |
Colegio De Abogados De P R San Juan, PR | $5,397,598 | $1,646,204 |
Camara De Comercio De Ponce Y Sur De Puerto Rico Ponce, PR | $255,158 | $431,763 |
Asociacion De Relacionistas Profesionales De Puerto Rico San Juan, PR | $188,282 | $0 |
Sociedad De Medicina Nuclear De Puerto Rico Inc San Juan, PR | $48,786 | $0 |