Asociacion Fomento Educativo Inc
- Assets
- $9.7m
- Revenue
- $967.4k
- Investments
- $0.0
- Employees
- 6
- Location
- Guaynabo, PR
- Founding
- 06/1986
- Data as of
- 12/2022
- EIN
- 66-0372757
Organization Overview
Asociacion Fomento Educativo Inc is located in Guaynabo, PR. The organization was established in 1986. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2022, Asociacion Fomento Educativo Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asociacion Fomento Educativo Inc 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 12/2022, Asociacion Fomento Educativo Inc generated $967.4k in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $1.1m during the year ending 12/2022. While expenses have increased by 1.5% per year over the past 3 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND FACILITATE THE MATURITY OF INDIVIDUALS IN VARIOUS FORMATION CENTERS OPEN TO ALL AGES AND SOCIAL CONDITIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUERTORREAL UNIVERSITY RESIDENCE PROVIDES ROOMS AND BOARD IN A FAMILY LIKE ATMOSPHERE TO UNIVERSITY STUDENTS. IT HAS STUDY HALLS MEETING ROOMS AND OFFERS CONFERENCES SEMINARS ETC. IT ALSO HOLDS ACTIVITIES FOR YOUNG PROFESSIONALS TO HELP THEM IN THE TRANSITION FROM COLLEGE TO THE PROFESSIONAL WORLD. SOCIAL HELP ACTIVITIES FOR LOW INCOME PEOPLE.
GUILARTE STUDY CENTER IN GEARED TO PROFESSIONALS AND STUDENTS TO IMPROVE THE ACHIEVEMENTS THROUGH STUDY SKILLS COURSES TUTORING PROGRAMS SEMINARS CONFERENCES ETC.
GUAYMAR IS A FAMILY RESIDENCE FOR PROFESSIONALS WHO PROVIDE COURSES OF ETHICS WORKSHOPS CONFERENCES OF FAMILY LIFE WORK SPIRIT OF SERVICE AND CREATE SOCIAL AND ENVIROMENT AWARENESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Manuel Diaz President | OfficerTrustee | 2 | $0 |
Dionisio Trigo Vicepresident | OfficerTrustee | 2 | $0 |
Jose M Medina Secretary And Treasurer | OfficerTrustee | 4 | $0 |
Sigfrido Fernandez Subsecretary | OfficerTrustee | 4 | $0 |
Robert Hunter Vocal | Trustee | 0 | $0 |
Virgen Torres Vocal | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $58,650 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $58,650 |
| Total Program Service Revenue | $908,058 |
| Investment income | $0 |
| 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 | $967,430 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $80,543 |
| 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. | $30,600 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $135,461 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $18,456 |
| 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 | $1,275 |
| Advertising and promotion | $0 |
| Office expenses | $29,797 |
| 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 | $25,645 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $313,126 |
| Insurance | $28,980 |
| All other expenses | $0 |
| Total functional expenses | $1,051,838 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $555,813 |
| Savings and temporary cash investments | $34,881 |
| Pledges and grants receivable | $667,413 |
| Accounts receivable, net | $230,098 |
| 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 | $0 |
| Net Land, buildings, and equipment | $8,205,261 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $945 |
| Total assets | $9,694,411 |
| Accounts payable and accrued expenses | $44,703 |
| 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 | $1,226,233 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,270,936 |
| Net assets without donor restrictions | $8,423,475 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,694,411 |
Grants Awarded
Over the last fiscal year, Asociacion Fomento Educativo Inc has awarded $54,447 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
FONDO EDUCATIVO DEL SUR PURPOSE: Youth programs assistance | $47,447 |
ASOCIACION DE INTERCAMBIO CULTURAL PURPOSE: Youth programs assistance | $7,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southwestern Educational Society Inc Mayaguez, PR | $5,295,837 | $2,244,538 |
Asociacion Fomento Educativo Inc Guaynabo, PR | $9,694,411 | $967,430 |
Centro Para Emprendedores Inc Caguas, PR | $727,826 | $1,062,589 |
Centro De Estudiante Y Maestro Investigador Corp Manati, PR | $426,553 | $693,273 |
Asociacion Para La Educacion Integral Inc San Juan, PR | $249,950 | $734,858 |
Asociacion De Ejecutivos De Cooperativas De Puerto Rico Inc San Juan, PR | $574,521 | $434,163 |
Centro De Orientacion Y Accion Social Inc Vega Alta, PR | $267,929 | $372,729 |
Hispanic Educational Technology Services Inc San Juan, PR | $139,175 | $285,877 |
Proyecto 85 Inc san juan, PR | $7,081 | $0 |
Friends Of@san Juan National Historic Site Inc San Juan, PR | $132,342 | $0 |
Perspective Education Services Mayaguez, PR | $0 | $0 |