Fondo Permanente Para La Administracion Operacion Y
- Assets
- $28.1m
- Revenue
- $13.9m
- Investments
- $0.0
- Employees
- 129
- Location
- Salinas, PR
- Founding
- Data as of
- 12/2023
- EIN
- 66-0630488
Organization Overview
Fondo Permanente Para La Administracion Operacion Y, operating under the name Fideicomiso Olimpico De Puerto Rico, is located in Salinas, PR. According to its NTEE Classification (N40) the organization is classified as: Sports Associations & Training Facilities, under the broad grouping of Recreation & Sports and related organizations. As of 12/2023, Fideicomiso Olimpico DE Puerto Rico employed 129 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fideicomiso Olimpico 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 12/2023, Fideicomiso Olimpico DE Puerto Rico generated $13.9m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 54.9% each year . All expenses for the organization totaled $12.2m during the year ending 12/2023. While expenses have increased by 11.9% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ORGANIZATION IS TO PROVIDE AND TO MAINTAIN THE LEVEL REQUIRED FOR THE TRAINING OF PUERTO RICO'S HIGH PERFOMANCE ATHLETES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SERVICE TO OLYMPIC FEDERATION PROGRAM WAS ACHIVED BY PROVIDING TO THE HIGHEST PERFORMANCE ATHLETES BELONGING TO SUCH FEDERATIONS THE REQUESTED LEVEL OF TRAINING WHICH INCLUDES AMONG OTHERS EDUCATION, ROOM AND BOARD AND SPECIALIZED TRAINING INTO THE ARTS AND SCIENCES OF DIFFERENT SPORTS.
OTHER ACADEMIC AND SPORTS SERVICE PROGRAM WAS PROVIDED PRIMARILY TO STUDENTS ENROLLED IN THE ALBERGUE OLIMPICO BASEBALL ACADEMY PROGRAM WHICH INCLUDES TUITION, FEES, ROOM AND MEALS. OTHER SPORTS RECREATIONAL FACILITIES PROGRAM WAS PROVIDED TO THE GENERAL PUBLIC WHICH INCLUDE THE SALE OF TICKETS FOR ADMISSION TO PARKS, THE SALES OF MERCHANDISE, FOOD AND BEVERAGE AT THE PARKS, SHOPS AREAS AND FOOD COURTS.
SPORTS MEDICINE SERVICES PROGRAM INCLUDES A CONTRACT WITH THE UNIVERSITY OF PUERTO RICO MEDICAL SCIENCE CAMPUS TO SUPPLY AND PAY FOR MATERIALS, CLEANING SERVICES, MAINTENANCE AND SURVEILLANCE OF FACILITIES THAT THE CENTER FOR SPORTS HEALTH AND EXCERCISE SCIENCE OCCUPIES. THE CENTER OCCUPIES IN THE ALBERGUE OLIMPICO A VARIETY OF SPORTS MEDICINE SERVICES WITH A PREVENTIVE APPROACH TO ATHLETES OF NATIONAL FEDERATIONS, STUDENT ATHLETES AND TO THE GENERAL COMMUNITY. THE FIDEICOMISO OLIMPICO WILL PROVIDE TELEPHONE, WATER, ELECTRICITY AND RENT SERVICES
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Luisette Sanchez Director Of | Trustee | 40 | $0 |
Jorge Rendon Executive Di | Officer | $0 | |
Yanira Morales Hr Director | Trustee | 40 | $0 |
Carmen Cartagena Academic Dir | Officer | 40 | $0 |
Pedro Rojas Operations D | Officer | 40 | $0 |
Samuel Cespedes Secretary | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,000,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $775,025 |
| Noncash contributions included in lines 1a–1f | $775,025 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,775,025 |
| Total Program Service Revenue | $787,859 |
| Investment income | $9,284 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,561,417 |
| 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 | $2,149,991 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,895,760 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $872,442 |
| 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 | $5,238,726 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $37,635 |
| 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 | $435,183 |
| Advertising and promotion | $532,844 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $321,421 |
| 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 | $396,342 |
| Insurance | $262,889 |
| All other expenses | $493,399 |
| Total functional expenses | $12,172,990 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,843,322 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $601,807 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $586,493 |
| Prepaid expenses and deferred charges | $458,103 |
| Net Land, buildings, and equipment | $20,595,335 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $28,085,060 |
| Accounts payable and accrued expenses | $1,562,714 |
| Grants payable | $0 |
| Deferred revenue | $336,779 |
| 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 | $1,899,493 |
| Net assets without donor restrictions | $15,797,563 |
| Net assets with donor restrictions | $10,388,004 |
| 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 | $28,085,060 |
Grants Awarded
Over the last fiscal year, Fondo Permanente Para La Administracion Operacion Y has awarded $872,442 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
COMITE OLIMPICO PUERTO RICO PURPOSE: SERVICE & USE/RENT | $697,442 |
SALUD DEPORTIVAY CIENCIAS DEL EJERCICIO PURPOSE: FACILITIES USE/RENT | $175,000 |