Civic Intelligence

Promesa Administrative Services Organization Inc. Paso

990 • Fiscal year 2015 • EIN 13-3653276

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 15, 2016

Organization ProfileWWW.ACACIANETWORK.ORG
311 East 175th StreetBronx, NY 10457

(718) 299-1100

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

95th percentile

1.14x

Higher debt load relative to assets than 95% of similar nonprofits.

2015 filings • NTEE P • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

60th percentile

0.29x

Higher debt load relative to revenue than 60% of similar nonprofits.

2015 filings • NTEE P • $5M-$10M nonprofits • Source year 2015

Net Margin

62nd percentile

3.4%

Higher net margin than 62% of similar nonprofits.

2015 filings • NTEE P • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

96th percentile

$540,757

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 7.3% of source-year revenue.

2015 filings • NTEE P • $5M-$10M nonprofits • Source year 2015

Asset Growth

2nd percentile

-32%

Faster asset growth than 2% of similar nonprofits.

2015 filings • NTEE P • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

50th percentile

3.9%

Faster revenue growth than 50% of similar nonprofits.

2015 filings • NTEE P • $5M-$10M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$1,881,648

Down $868,004 (-32%) from 2014

Net Assets

Up

-$256,872

Up $252,106 (+50%) from 2014

Liabilities

Down

$2,138,520

Down $1,120,110 (-34%) from 2014

Revenue And Expenses
Liabilities / Revenue60th percentileNet Margin62nd percentile

Revenue

Up

$7,433,426

Up $280,342 (+3.9%) from 2014

Expenses

Up

$7,181,320

Up $71,734 (+1.0%) from 2014

Net Income

Up

$252,106

Up $208,608 (+480%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$20M$15M$10M$5.0M$0-$5.0MAssets 2010: $1,367,176Liabilities 2010: $2,384,585Net Assets 2010: -$1,017,4092010Assets 2011: $1,336,588Liabilities 2011: $2,353,997Net Assets 2011: -$1,017,4092011Assets 2012: $1,988,513Liabilities 2012: $2,340,929Net Assets 2012: -$352,4162012Assets 2013: $2,061,068Liabilities 2013: $2,613,544Net Assets 2013: -$552,4762013Assets 2014: $2,749,652Liabilities 2014: $3,258,630Net Assets 2014: -$508,9782014Assets 2015: $1,881,648Liabilities 2015: $2,138,520Net Assets 2015: -$256,8722015Assets 2016: $2,357,266Liabilities 2016: $2,600,743Net Assets 2016: -$243,4772016Assets 2017: $3,652,157Liabilities 2017: $3,891,607Net Assets 2017: -$239,4502017Assets 2018: $4,809,484Liabilities 2018: $5,037,301Net Assets 2018: -$227,8172018Assets 2019: $5,856,454Liabilities 2019: $6,082,691Net Assets 2019: -$226,2372019Assets 2020: $7,075,188Liabilities 2020: $7,433,487Net Assets 2020: -$358,2992020Assets 2021: $9,132,615Liabilities 2021: $9,535,298Net Assets 2021: -$402,6832021Assets 2022: $10,973,447Liabilities 2022: $11,147,710Net Assets 2022: -$174,2632022Assets 2023: $12,498,962Liabilities 2023: $12,672,965Net Assets 2023: -$174,0032023Assets 2024: $15,206,512Liabilities 2024: $15,599,950Net Assets 2024: -$393,4382024

Highlighted filing

2015

Assets$1,881,648
Liabilities$2,138,520
Net Assets-$256,872
Open 2015 Filing

Operations Trend

Revenue Growth50th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2010: $4,632,6082010Expenses 2011: $5,490,8782011Expenses 2012: $6,007,2942012Revenue 2013: $6,491,937Expenses 2013: $6,691,997Net Income 2013: -$200,0602013Revenue 2014: $7,153,084Expenses 2014: $7,109,586Net Income 2014: $43,4982014Revenue 2015: $7,433,426Expenses 2015: $7,181,320Net Income 2015: $252,1062015Revenue 2016: $8,762,465Expenses 2016: $8,749,070Net Income 2016: $13,3952016Revenue 2017: $10,365,635Expenses 2017: $10,361,608Net Income 2017: $4,0272017Revenue 2018: $10,428,587Expenses 2018: $10,416,954Net Income 2018: $11,6332018Revenue 2019: $10,874,848Expenses 2019: $10,873,268Net Income 2019: $1,5802019Revenue 2020: $10,598,327Expenses 2020: $10,730,389Net Income 2020: -$132,0622020Revenue 2021: $12,122,937Expenses 2021: $12,167,321Net Income 2021: -$44,3842021Revenue 2022: $11,742,010Expenses 2022: $11,513,590Net Income 2022: $228,4202022Revenue 2023: $12,308,054Expenses 2023: $12,307,794Net Income 2023: $2602023Revenue 2024: $12,397,190Expenses 2024: $12,616,625Net Income 2024: -$219,4352024

Highlighted filing

2015

Revenue$7,433,426
Expenses$7,181,320
Net Income$252,106
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 15, 2016
Return Version
2015v2.1
Gross Receipts
$7,433,426
Mission and Program Overview

Mission

Promesa administrative services organization, inc., established as a not-for-profit, provides all supervisory/admin services for each of the promesa entities.

To provide all supervisory and admin services for each of the promesa entities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,904,022$763,774▼ $1,140,248
Prepaid Expenses and Deferred Charges$0$12,600▲ $12,600
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0--
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$2,749,652$1,881,648▼ $868,004
Other Assets Total$845,630$1,105,274▲ $259,644
Liabilities
Accounts Payable and Accrued Expenses$3,258,630$2,138,520▼ $1,120,110
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$3,258,630$2,138,520▼ $1,120,110
Net Assets / Fund Balance
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Unrestricted Net Assets$-508,978$-256,872▲ $252,106
Total Net Assets Fund Balance$-508,978$-256,872▲ $252,106
Total Liabilities and Net Assets / Fund Balance$2,749,652$1,881,648▼ $868,004

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$0--
Compensation and Service Providers
Top Officer Pay96th percentile

Board Members and Trustees

NameTitle
MILAGROS BAEZ O'TOOLEChair
Hon Hector DiazPresident
Carmen Villa-lugo EsqVice Chair
Ralph DecletVice President
David GlaselVice President, Compliance
Dr Saroj BakshiMedical Director
Adrienne RosellAdministrator
Raul RussiCEO
Tomas Del RioCFO
David CollymoreChief Medical Officer
Pamela MattelCOO
Eduardo AlayonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
AdpPayroll Processing504 CLITNON CENTER, Clinton, MS 39056$498,840
Healthcare Business Solutions GroupHealthcare38 PINE DRIVE, Pound Ridge, NY 10576$244,535
Verizon BusinessTelecommunicationsPO Box 4846, Trenton, NJ 08650-4846$221,406
Cmp Consultant ServicesConsulting227 EAST 11TH STREET, New York, NY 10029$187,500
Ebatiz And AssociatesMarketing993 S SANTE FE AVE 76, Vista, CA 92083$187,113
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$7,181,320
Investment Income
$0
Other Revenue
$252,106
Change in Net Assets
$252,106

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,433,426
Total Revenue per Audited Statements
$7,433,426
Total Revenue per Form 990
$7,433,426
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$7,007,539
Other Expenses$173,781
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$7,007,539--$7,007,539
Occupancy$173,781--$173,781
Total Functional Expenses$7,181,320$0$0$7,181,320

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,181,320
Total Expenses per Audited Statements$7,181,320
Total Expenses per Form 990$7,181,320
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
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
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 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 15A & 15B

“The organization periodically engages an independent and qualified compensation consultant to compile and analyze detailed data about the types and levels of compensation packages provided by organizations in promesa's peer group to individuals in positions similar to the officers of promesa.”

Form 990, Part VI, Section B, Line 11B

“The organization distributes the 990 at the board of directors meeting. The board votes to approve the 990.”

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 understands 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 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 Administrative Services
EIN
13-3653276
In Care Of
% MILTON DERIENZO
Phone
7182991100
Address
311 EAST 175TH STREET, BRONX, NY 10457

Signing Officer

Name
Milton Derienzo
Title
CFO
Phone
7182991100
Signed
2016-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Raul Russi
Formed
1990
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
73
Volunteers
3

Preparer

Firm
WithumSmithBrown PC
Address
1 SPRING STREET, NEW BRUNSWICK, NJ 08901
Preparer
Joseph Perez
Phone
7328281614
Supplemental Narrative

Financial Statement Notes

Part X, Line 2

“PASO is exempt from Federal, New York State, and New York City income taxes under Section 501(c)(3) of the Internal Revenue Code and New York Estates, Powers and Trust Law and Article 7-A of the Executive Law. Accordingly, no provision for income taxes has been reflected in the accompanying financial statements. PASO 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 percent likely to be recognized upon ultimate settlement with the taxing authority is recorded. PASO'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 PASO's tax filings and does not believe that any material uncertain tax positions exist. PASO did not record any tax related interest or penalties during the years in question. PASO files Form 990 information returns in the U.S. federal jurisdiction and CHAR 500 in the State of New York jurisdiction.”

Raw XML AppendixShowing 400 of 1,021 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/TitleTxt8VICE PRESIDENT
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Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,881,648
Liabilities
$2,138,520
Net assets
-$256,872
Revenue
$7,433,426
Expenses
$7,181,320
Net income
$252,106
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.2$15.6$0.39$12.4$12.6$0.22
2023Detailed filing. Detailed filing data is available for this year.$12.5$12.7$0.17$12.3$12.3$0.00
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.0$11.1$0.17$11.7$11.5$0.23
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.13$9.54$0.40$12.1$12.2$0.04
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.08$7.43$0.36$10.6$10.7$0.13
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.86$6.08$0.23$10.9$10.9$0.00
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.81$5.04$0.23$10.4$10.4$0.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.65$3.89$0.24$10.4$10.4$0.00
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.36$2.60$0.24$8.76$8.75$0.01
2015Detailed filing. Detailed filing data is available for this year.$1.88$2.14$0.26$7.43$7.18$0.25
2014Detailed filing. Detailed filing data is available for this year.$2.75$3.26$0.51$7.15$7.11$0.04
2013Detailed filing. Detailed filing data is available for this year.$2.06$2.61$0.55$6.49$6.69$0.20
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.99$2.34$0.35$6.01
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.34$2.35$1.02$5.49
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.37$2.38$1.02$4.63