Elite Educational Group
- Assets
- $323.5k
- Revenue
- $903.0k
- Investments
- $0.0
- Employees
- 40
- Location
- Bayamon, PR
- Founding
- Data as of
- 12/2021
- EIN
- 66-0799136
Organization Overview
Elite Educational Group, operating under the name Elite Educational Group Corp, is located in Bayamon, PR. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 12/2021, Elite Educational Group Corp employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Elite Educational Group Corp is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE EDUCATIONAL SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEW EARTH MUSIC ACADEMY (NEMA)-(ELITE EDUCATIONAL GROUP, CORP), IS A NON-PROFIT INSTITUTION FOUNDED SINCE 2007 BY PASTORS AND PRESIDENTS JESUS TITO AND YARITZA RIVERA. THE SCHOOL IS GOVERNED BY AN ADMINISTRATIVE BOARD COMPOSED OF PEOPLE REPRESENTING OUR EDUCATIONAL COMMUNITY AND IS CERTIFIED AS A CHURCH-SCHOOL BY THE DEPARTMENT OF STATE OF PUERTO RICO; THIS ENSURES THAT OUR CURRICULUM MEETS THE STANDARDS OF EXCELLENCE OF EACH DEGREE AND ACADEMIC SUBJECT. TEACHING STAFF COMPLY WITH THE CORRESPONDING CERTIFICATION FROM THE DEPARTMENT OF EDUCATION. IN ADDITION, THE SCHOOL IS A MEMBER OF THE PUERTO RICO PRIVATE EDUCATION ASSOCIATION.
DONATIVE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Beatriz Rodriguez Marrero Vocal | Officer | 40 | $28,800 |
Jesus X Rivera Rivera Director | Officer | 40 | $24,000 |
Yaritza Rivera Cosme Vice-President | Officer | 40 | $24,000 |
Sandra M Rivera Rivera President | Officer | 40 | $21,504 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $902,903 |
| 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 | $902,955 |
| 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 | $98,304 |
| 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 | $360,036 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $35,063 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $125,143 |
| Advertising and promotion | $7,938 |
| Office expenses | $4,574 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $46,120 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $11,603 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,935 |
| Insurance | $42,827 |
| All other expenses | $195,745 |
| Total functional expenses | $952,376 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $81,959 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $8,991 |
| Accounts receivable, net | $0 |
| 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 | $174,941 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $57,631 |
| Total assets | $323,522 |
| Accounts payable and accrued expenses | $6,034 |
| 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 | $261,944 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,833 |
| Total liabilities | $281,811 |
| Net assets without donor restrictions | $0 |
| 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 | $26,193 |
| Retained earnings, endowment, accumulated income, or other funds | $15,518 |
| Total liabilities and net assets/fund balances | $323,522 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Baldwin School Of Puerto Rico Inc Bayamon, PR | $21,469,124 | $15,474,261 |
Saint Johns School San Juan, PR | $27,658,039 | $13,804,674 |
Saint Francis School Carolina, PR | $13,939,984 | $9,657,411 |
Colegio Puertorriqueno De Ninas Guaynabo, PR | $6,777,143 | $4,007,088 |
Colegio Radians Inc Cayey, PR | $5,229,137 | $4,090,426 |
Caribbean School Inc Ponce, PR | $3,898,422 | $3,097,431 |
Palmas Academy Inc Humacao, PR | $10,746,233 | $2,143,628 |
Washburn School Inc Ponce, PR | $637,737 | $1,101,643 |
Elite Educational Group Bayamon, PR | $323,522 | $902,955 |
Colegio Hogar Angeles Custodios Inc San Juan, PR | $633,124 | $616,643 |
Kingdom Christian Academy Dorado, PR | $71,498 | $642,927 |
Educational Services Corpus Christi Corp Aguadilla, PR | $242,381 | $617,486 |