Civic Intelligence

Promesa Foundation Inc

EIN 13-3411787 • 501(c)3 • Bronx, NY

Profile

Promesa foundation, inc. Was created as a development arm for the entire acacia network organization. The foundation works to raise funds for acacia network's many operating programs. The goal of the foundation is to develop streams of funding and partnerships with the corporate sector to support and expand its operations. The mutual purpose of acacia network is to be a leader in the health and human services arena by providing an array of services in health, education, employment, economic and community development, and housing activities.

311 East 175th StreetBronx, NY 10457

www.acacianetwork.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

86th percentile

0.77x

Higher debt load relative to assets than 86% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

96th percentile

7.63x

Higher debt load relative to revenue than 96% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

73rd percentile

18%

Higher net margin than 73% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

33rd percentile

1.0%

Faster asset growth than 33% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2024

Revenue Growth

19th percentile

-8.5%

Faster revenue growth than 19% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2024

Balance Sheet
Liabilities / Assets86th percentile

Assets

Up

$28,897,630

Up $754,492 (+2.7%) from 2023

Liabilities

Up

$22,363,226

Up $226,086 (+1.0%) from 2023

Net Assets

Up

$6,534,404

Up $528,406 (+8.8%) from 2023

Operations
Liabilities / Revenue96th percentileNet Margin73rd percentile

Revenue

Down

$2,929,456

Down $244,904 (-7.7%) from 2023

Expenses

Down

$2,401,050

Down $813,130 (-25%) from 2023

Net Income

Up

$528,406

Up $568,226 (+1427%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth33rd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30M$20M$10M$0Assets 2010: $7,146,174Liabilities 2010: $4,887,296Net Assets 2010: $2,258,8782010Assets 2011: $7,313,714Liabilities 2011: $4,950,819Net Assets 2011: $2,362,8952011Assets 2012: $8,667,810Liabilities 2012: $6,406,811Net Assets 2012: $2,260,9992012Assets 2013: $9,381,249Liabilities 2013: $6,996,374Net Assets 2013: $2,384,8752013Assets 2014: $9,143,028Liabilities 2014: $6,635,668Net Assets 2014: $2,507,3602014Assets 2015: $21,844,005Liabilities 2015: $18,890,638Net Assets 2015: $2,953,3672015Assets 2016: $22,348,201Liabilities 2016: $19,123,153Net Assets 2016: $3,225,0482016Assets 2017: $23,601,038Liabilities 2017: $21,024,439Net Assets 2017: $2,576,5992017Assets 2018: $24,287,401Liabilities 2018: $20,693,352Net Assets 2018: $3,594,0492018Assets 2019: $25,879,423Liabilities 2019: $20,608,652Net Assets 2019: $5,270,7712019Assets 2020: $24,962,578Liabilities 2020: $20,551,397Net Assets 2020: $4,411,1812020Assets 2021: $24,684,933Liabilities 2021: $19,394,943Net Assets 2021: $5,289,9902021Assets 2022: $28,348,325Liabilities 2022: $22,302,507Net Assets 2022: $6,045,8182022Assets 2023: $28,143,138Liabilities 2023: $22,137,140Net Assets 2023: $6,005,9982023Assets 2024: $28,897,630Liabilities 2024: $22,363,226Net Assets 2024: $6,534,4042024

Highlighted filing

2024

Assets$28,897,630
Liabilities$22,363,226
Net Assets$6,534,404
Open 2024 Filing

Operations Trend

Revenue Growth19th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $916,1522010Revenue 2011: $978,939Expenses 2011: $874,299Net Income 2011: $104,6402011Expenses 2012: $1,135,6372012Revenue 2013: $1,307,464Expenses 2013: $1,187,838Net Income 2013: $119,6262013Revenue 2014: $1,477,250Expenses 2014: $1,354,765Net Income 2014: $122,4852014Revenue 2015: $2,280,753Expenses 2015: $1,834,746Net Income 2015: $446,0072015Revenue 2016: $2,694,139Expenses 2016: $2,422,458Net Income 2016: $271,6812016Revenue 2017: $2,336,731Expenses 2017: $2,985,180Net Income 2017: -$648,4492017Revenue 2018: $3,667,381Expenses 2018: $2,649,931Net Income 2018: $1,017,4502018Revenue 2019: $4,285,572Expenses 2019: $2,608,115Net Income 2019: $1,677,4572019Revenue 2020: $1,635,506Expenses 2020: $2,494,003Net Income 2020: -$858,4972020Revenue 2021: $3,536,945Expenses 2021: $2,658,136Net Income 2021: $878,8092021Revenue 2022: $3,501,347Expenses 2022: $2,745,519Net Income 2022: $755,8282022Revenue 2023: $3,174,360Expenses 2023: $3,214,180Net Income 2023: -$39,8202023Revenue 2024: $2,929,456Expenses 2024: $2,401,050Net Income 2024: $528,4062024

Highlighted filing

2024

Revenue$2,929,456
Expenses$2,401,050
Net Income$528,406
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$28,897,630
Liabilities
$22,363,226
Net assets
$6,534,404
Revenue
$2,929,456
Expenses
$2,401,050
Net income
$528,406
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.9$22.4$6.53$2.93$2.40$0.53
2023Detailed filing. Detailed filing data is available for this year.$28.1$22.1$6.01$3.17$3.21$0.04
2022Detailed filing. Detailed filing data is available for this year.$28.3$22.3$6.05$3.50$2.75$0.76
2021Detailed filing. Detailed filing data is available for this year.$24.7$19.4$5.29$3.54$2.66$0.88
2020Detailed filing. Detailed filing data is available for this year.$25.0$20.6$4.41$1.64$2.49$0.86
2019Detailed filing. Detailed filing data is available for this year.$25.9$20.6$5.27$4.29$2.61$1.68
2018Detailed filing. Detailed filing data is available for this year.$24.3$20.7$3.59$3.67$2.65$1.02
2017Detailed filing. Detailed filing data is available for this year.$23.6$21.0$2.58$2.34$2.99$0.65
2016Detailed filing. Detailed filing data is available for this year.$22.3$19.1$3.23$2.69$2.42$0.27
2015Detailed filing. Detailed filing data is available for this year.$21.8$18.9$2.95$2.28$1.83$0.45
2014Detailed filing. Detailed filing data is available for this year.$9.14$6.64$2.51$1.48$1.35$0.12
2013Detailed filing. Detailed filing data is available for this year.$9.38$7.00$2.38$1.31$1.19$0.12
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.67$6.41$2.26$1.14
2011Summary only. Only limited summary data is available for this year.$7.31$4.95$2.36$0.98$0.87$0.10
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.15$4.89$2.26$0.92
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.2
Gross Receipts
$3,126,431
Mission and Program Overview

Mission

Promesa foundation, inc. Was created as a development arm for the entire acacia network organization. The foundation works to raise funds for acacia network's many operating programs. The goal of the foundation is to develop streams of funding and partnerships with the corporate sector to support and expand its operations. The mutual purpose of acacia network is to be a leader in the health and human services arena by providing an array of services in health, education, employment, economic and community development, and housing activities.

To raise funds for acacia network's many operating programs whose purpose is to provide services in health, education, employment, housing and economic and community development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$22,256,674$22,368,563▲ $111,889
Accounts Receivable$2,148,031$2,805,690▲ $657,659
Other Notes and Loans Receivable, Net$1,832,751$1,883,772▲ $51,021
Investments Other Securities$1,301,215$1,212,144▼ $89,071
Cash and Non-Interest-Bearing Accounts$317,049$500,668▲ $183,619
Prepaid Expenses and Deferred Charges$115,776$80,776▼ $35,000
Pledges and Grants Receivable$170,425$44,800▼ $125,625
Investments in Publicly Traded Securities$1,217$1,217→ $0
Savings and Temporary Cash Investments$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$28,143,138$28,897,630▲ $754,492
Other Assets Total$0$0→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$18,957,427$17,133,673▼ $1,823,754
Other Liabilities$2,650,939$4,607,812▲ $1,956,873
Accounts Payable and Accrued Expenses$528,334$621,741▲ $93,407
Deferred Revenue$440$0▼ $440
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$22,137,140$22,363,226▲ $226,086
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,732,759$6,266,755▲ $533,996
Net Assets With Donor Restrictions$273,239$267,649▼ $5,590
Total Net Assets Fund Balance$6,005,998$6,534,404▲ $528,406
Total Liabilities and Net Assets / Fund Balance$28,143,138$28,897,630▲ $754,492

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$14,383,468$7,221,179$21,604,647
Land$7,877,483-$7,877,483
Equipment$107,612$341,739$449,351
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Gilbert HernandezChair
Raul RussiPresident
Arnie SegarraBoard Member
Lymaris AlborsChief Executive Officer
Vicky Gatellchief financial officer
Jose a RodriguezChief legal officer/Exec. VP
Federico PerezSecretary
Aileen PerezTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$5,900
Program Service Revenue
$2,424,923
Investment Income
$90,153
Other Revenue
$408,480
All Other Contributions
$5,900
Change in Net Assets
$528,406

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,929,456
Revenue Not Reported on Form 990
$196,975
Total Revenue per Audited Statements
$3,126,431
Total Revenue per Form 990
$2,929,456
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,355,170
Grants and Similar Amounts Paid$45,880
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$872,880--$872,880
Depreciation Depletion$594,628--$594,628
Occupancy$427,929$3,003-$430,932
Fees for Services Other$135,065$121,514-$256,579
Insurance$89,300$9,422-$98,722
Office Expenses$55,583$25,744-$81,327
Grants to Domestic Orgs$45,880--$45,880
Fees for Services Accounting-$37,562-$37,562
Fees for Services Legal$16,633$8,788-$25,421
Travel-$11,784-$11,784
Other Expenses$-54,665--$-54,665
Total Functional Expenses$2,183,233$217,817$0$2,401,050

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,598,025
Expenses per Audited Statements$2,401,050
Total Expenses per Form 990$2,401,050
Expenses Not Reported on Form 990$196,975
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
National Puerto Rican Day ParadeNew York, NY501(c)(3)Sponsorship$20,000
111th STREET OLD TIMERS BOYS INCNew York, NY501(c)(3)Sponsorship$12,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliates$4,607,812
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION B, LINE 11B:

“The 990 is distributed to the board of directors prior to filing.”

FORM 990, PART VI, SECTION B, LINE 12C:

“Each director, principal officer and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person: a). Has received a copy of the conflicts of interest policy. b). Has read and understand the policy. c). Has agreed to comply with the policy, and d). Understands the Organization is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.”

FORM 990, PART VI, SECTION B, LINE 15A & 15B:

“Pursuant to the Organization's bylaws, the Organization delegates to its parent entity the hiring of the CEO and President. The compensation of the executives is approved by the Parent entity, who hires a consultant to conduct a study. A standing compensation committee of the Parent entity reviews a compensation study and votes on how to proceed.”

FORM 990, PART VI, SECTION C, LINE 19:

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Promesa Foundation Inc
EIN
13-3411787
In Care Of
% VICKY GATELL
Phone
7189914900
Address
311 East 175th Street, Bronx, NY 10457

Signing Officer

Name
Raul Russi
Title
President
Phone
7182991100
Signed
2025-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Raul Russi
Formed
1985
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
WithumSmithBrown PC
Address
ONE TOWER CENTER BLVD 14TH FL, EAST BRUNSWICK, NJ 08816
Preparer
Shawn Gillon
Phone
7328281614
Supplemental Narrative

Additional Explanations

Form 990 Part IX Line 11G

“Description:contract services total fees:254951”

Form 990 Part IX Line 11G

“Description:other professional fees total fees:1628”

Financial Statement Notes

SCHEDULE D, PART X, LINE 2:

“The Organization is exempt from federal and state income taxes under Section 501(c)(3) of the Internal Revenue Code and New York taxation codes. Accordingly, no provision for income taxes has been reflected in the accompanying financial statements. The Organization follows generally accepted accounting principles related to uncertain tax positions which require tax effects from an uncertain tax position to be recognized in the financial statements only if the position is more likely than not to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. If an uncertain tax position meets the more-likely-than-not threshold, the largest amount of tax benefit that is greater than 50% likely to be recognized upon ultimate settlement with the taxing authority is recorded. The Organization's primary tax positions relate to its status as a not-for-profit entity exempt from income taxes and classification of activities related to its exempt purpose. Management has evaluated the tax positions reflected in the Organization's tax filings and does not believe that any material uncertain tax positions exist. The Organization files information returns in the U.S. federal jurisdiction and the State of New York. The Organization did not recognize any tax related penalties or interest for the years ended December 31, 2024 and 2023.”

Schedule D, Parts XI and XII, Line 2D:

“Cost of sales netted on Form 990, Part VIII of $196,975.”

Raw XML AppendixShowing 400 of 2,125 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm7ARNIE SEGARRA
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IRS990/MissionDesc0PROMESA FOUNDATION, INC. WAS CREATED AS A DEVELOPMENT ARM FOR THE ENTIRE ACACIA NETWORK ORGANIZATION. THE FOUNDATION WORKS TO RAISE FUNDS FOR ACACIA NETWORK'S MANY OPERATING PROGRAMS. THE GOAL OF THE FOUNDATION IS TO DEVELOP STREAMS OF FUNDING AND PARTNERSHIPS WITH THE CORPORATE SECTOR TO SUPPORT AND EXPAND ITS OPERATIONS. THE MUTUAL PURPOSE OF ACACIA NETWORK IS TO BE A LEADER IN THE HEALTH AND HUMAN SERVICES ARENA BY PROVIDING AN ARRAY OF SERVICES IN HEALTH, EDUCATION, EMPLOYMENT, ECONOMIC AND COMMUNITY DEVELOPMENT, AND HOUSING ACTIVITIES.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE FOUNDATION WORKS IN CONJUNCTION WITH ALL OF THEIR RELATED ENTITIES, AS LISTED IN SCHEDULE A, PART I, TO RAISE FUNDS FOR THEIR MANY OPERATING PROGRAMS WHOSE PURPOSE IS TO PROVIDE SERVICES IN HEALTH, EDUCATION, EMPLOYMENT, HOUSING AND ECONOMIC AND COMMUNITY DEVELOPMENT.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1Common board members and common management are shared by the two organizations and therefore oversee the organization's annual budget and operations.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, Part IV, SECTION E, LINE 2A & 2B:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1Schedule A, Part IV, Section D, Line 3:
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