Civic Intelligence

Alma Financial Assistance Corp

EIN 47-0863848 • 501(c)3 • Deerfield Beach, FL

Profile

Alma's mission is to provide participants and the general public of puerto rico with education on consumer budgeting, consumer buying practices and managing consumer debt to improve the individual's understanding of their financial problems and to improve their ability to address those problems, and to provide debt counseling services for financial distressed consumers, including but not limited to negotiating with creditors to arrange for repayment programs.

1761 W Hillsboro Blvd 103Deerfield Beach, FL 33442

www.almafinancial.com

Siviq Scores

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

Liabilities / Assets

86th percentile

0.34x

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

501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

77th percentile

0.04x

Higher debt load relative to revenue than 77% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

54th percentile

3.5%

Higher net margin than 54% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

98th percentile

$105,712

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 26.7% of source-year revenue.

501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

15th percentile

-74%

Faster asset growth than 15% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

19th percentile

-48%

Faster revenue growth than 19% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Down

$43,343

Down $123,742 (-74%) from 2022

Liabilities

Down

$14,618

Down $137,779 (-90%) from 2022

Net Assets

Up

$28,725

Up $14,037 (+96%) from 2022

Revenue

Down

$396,022

Down $365,099 (-48%) from 2022

Expenses

Down

$381,985

Down $502,328 (-57%) from 2022

Net Income

Up

$14,037

Up $137,229 (+111%) from 2022

Trend Graphs

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $1,163,421Liabilities 2011: $706,608Net Assets 2011: $456,8132011Assets 2012: $1,189,186Liabilities 2012: $709,204Net Assets 2012: $479,9822012Assets 2013: $1,414,119Liabilities 2013: $847,951Net Assets 2013: $566,1682013Assets 2014: $1,639,304Liabilities 2014: $1,112,781Net Assets 2014: $526,5232014Assets 2015: $1,596,437Liabilities 2015: $1,203,417Net Assets 2015: $393,0202015Assets 2016: $1,215,398Liabilities 2016: $935,894Net Assets 2016: $279,5042016Assets 2017: $1,118,712Liabilities 2017: $970,066Net Assets 2017: $148,6462017Assets 2018: $1,114,658Liabilities 2018: $941,955Net Assets 2018: $172,7032018Assets 2019: $951,114Liabilities 2019: $830,002Net Assets 2019: $121,1122019Assets 2020: $819,193Liabilities 2020: $692,814Net Assets 2020: $126,3792020Assets 2021: $648,458Liabilities 2021: $510,578Net Assets 2021: $137,8802021Assets 2022: $167,085Liabilities 2022: $152,397Net Assets 2022: $14,6882022Assets 2023: $43,343Liabilities 2023: $14,618Net Assets 2023: $28,7252023

Highlighted filing

2023

Assets$43,343
Liabilities$14,618
Net Assets$28,725

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $3,810,443Expenses 2011: $3,580,613Net Income 2011: $229,8302011Revenue 2012: $3,560,792Expenses 2012: $3,537,623Net Income 2012: $23,1692012Revenue 2013: $3,397,365Expenses 2013: $3,311,179Net Income 2013: $86,1862013Revenue 2014: $3,210,557Expenses 2014: $3,250,202Net Income 2014: -$39,6452014Revenue 2015: $2,819,374Expenses 2015: $2,952,877Net Income 2015: -$133,5032015Revenue 2016: $2,364,908Expenses 2016: $2,478,424Net Income 2016: -$113,5162016Revenue 2017: $2,097,034Expenses 2017: $2,227,892Net Income 2017: -$130,8582017Revenue 2018: $1,576,107Expenses 2018: $1,552,050Net Income 2018: $24,0572018Revenue 2019: $1,421,871Expenses 2019: $1,473,462Net Income 2019: -$51,5912019Revenue 2020: $1,303,018Expenses 2020: $1,297,751Net Income 2020: $5,2672020Revenue 2021: $950,327Expenses 2021: $938,826Net Income 2021: $11,5012021Revenue 2022: $761,121Expenses 2022: $884,313Net Income 2022: -$123,1922022Revenue 2023: $396,022Expenses 2023: $381,985Net Income 2023: $14,0372023

Highlighted filing

2023

Revenue$396,022
Expenses$381,985
Net Income$14,037

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 13, 2024
Return Version
2022v5.0
Gross Receipts
$396,022
Mission and Program Overview

Mission

Alma's mission is to provide participants and the general public of puerto rico with education on consumer budgeting, consumer buying practices and managing consumer debt to improve the individual's understanding of their financial problems and to improve their ability to address those problems, and to provide debt counseling services for financial distressed consumers, including but not limited to negotiating with creditors to arrange for repayment programs.

Credit counseling services

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$10,754$26,854▲ $16,100
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$167,085$43,343▼ $123,742
Other Assets Total$156,331$16,489▼ $139,842
Liabilities
Escrow Account Liability$152,397$14,618▼ $137,779
Total Liabilities$152,397$14,618▼ $137,779
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$14,688$28,725▲ $14,037
Total Net Assets Fund Balance$14,688$28,725▲ $14,037
Total Liabilities and Net Assets / Fund Balance$167,085$43,343▼ $123,742

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$158,598$158,598
Other Assets Org$1,871--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Alberto LarreaPres. Executive DirectorFT$105,712$105,712
Ruben SandovalFinance DirectorFT$82,312$82,312

Board Members and Trustees

NameTitle
Marilyn Lopez De VictoriaDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$396,022
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$14,037

Audited Revenue Reconciliation

Revenue per Audited Statements
$396,022
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$396,022
Total Revenue per Form 990
$396,022
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$237,245
Other Expenses$144,740
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$143,757--$143,757
Current Officers, Directors, Trustees, and Key Employees$45,793$30,529-$76,322
Office Expenses$47,412$5,268-$52,680
Occupancy$22,271$2,474-$24,745
Payroll Taxes$15,449$1,717-$17,166
Advertising$8,690--$8,690
Fees for Services Legal-$5,940-$5,940
Other Expenses$4,577$508-$5,085
All Other Expenses$2,560$284-$2,844
Fees for Services Accounting-$2,445-$2,445
Insurance$1,292$144-$1,436
Total Functional Expenses$329,137$52,848$0$381,985

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$381,985
Total Expenses per Audited Statements$381,985
Total Expenses per Form 990$381,985
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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

Alberto larrea, executive director, reviews the form 990 before it is filed.

Form 990, Part VI, Section B, Line 15

Compensation of the executive director is determined and reviewed by the board of directors. The florida department of labor publishes its annual salary guide by industry sector. Alma's executive director and its managers are paid based on that guide.

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
Alma Financial Assistance Corp
EIN
47-0863848
Phone
9544219506
Address
1761 W HILLSBORO BLVD 103, DEERFIELD BEACH, FL 33442

Signing Officer

Name
Alberto Larrea
Title
Executive Director
Phone
9544219506
Signed
2024-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alberto Larrea
Formed
2004
Legal Domicile
La
Voting Board Members
3
Independent Board Members
3
Employees
12
Volunteers
0

Preparer

Firm
Cbiz Mhm of Florida LLC
Address
2255 GLADES ROAD SUITE 321A, BOCA RATON, FL 33431
Preparer
Michael Fisher
Phone
5619945050
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

Telephone & utilities: program service expenses 2,560. Management and general expenses 284. Fundraising expenses 0. Total expenses 2,844.

Financial Statement Notes

PART IV, LINE 2B:

Custodial account of client funds to be disbursed to creditors.

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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/Desc0DURING FISCAL YEAR 2022-2023, THE EFFECTS OF THE 2020 PANDEMIC OUTBREAK CONTINUED TO HAVE A DISRUPTIVE EFFECT ON THE COMMUNITY ACTIVITIES OF THE CORPORATION IN PUERTO RICO. TO COPE WITH THE RESTRICTIONS THAT WERE PUT IN PLACE DURING THE PANDEMIC AND THERE ON, FOLLOWING THE PANDEMIC THE CORPORATION CHANGED ITS COMMUNITY OUTREACH FROM IN PERSON COMMUNITY FINANCIAL EDUCATIONAL ACTIVITIES SUCH AS WORKSHOPS, SEMINARS, CLASSES, TO PROVIDING ITS FINANCIAL EDUCATION ON LINE, THROUGH EDUCATIONAL MATERIALS. THE CORPORATION HAS MADE AVAILABLE FREE EDUCATIONAL MATERIALS TO THE CONSUMERS IN PUERTO RICO THROUGH ITS WEBSITE, AND VIDEOS PLACED IN SOCIAL MEDIA. INDIVIDUAL CONSUMER COUNSELING SESSIONS HAVE BEEN MAINLY PROVIDED THROUGH TELEPHONE SESSIONS AND VIDEO CONFERENCES, TO THE CONSUMERS THAT HAVE CONTACTED THE CORPORATION FOR HELP WITH THEIR FINANCIAL SITUATIONS. ALMA'S WEBSITE EDUCATIONAL MATERIALS HAVE BEEN ACCESSED BY 1,011 NEW USERS DURING THE 2022-2023 PERIOD AND IT HAS PROVIDED FINANCIAL COUNSELING SERVICES BY TELEPHONE TO 810 CONSUMERS DURING THE SAME PERIOD.
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0158598
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0158598
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0381985
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt014618
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11871
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESTRICTED CASH - TRUST ACCOUNT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0396022
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CUSTODIAL ACCOUNT OF CLIENT FUNDS TO BE DISBURSED TO CREDITORS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt016489
IRS990ScheduleD/TotalExpensesPerForm990Amt0381985
IRS990ScheduleD/TotalRevenuePerForm990Amt0396022
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0396022
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0381985
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALBERTO LARREA, EXECUTIVE DIRECTOR, REVIEWS THE FORM 990 BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COMPENSATION OF THE EXECUTIVE DIRECTOR IS DETERMINED AND REVIEWED BY THE BOARD OF DIRECTORS. THE FLORIDA DEPARTMENT OF LABOR PUBLISHES ITS ANNUAL SALARY GUIDE BY INDUSTRY SECTOR. ALMA'S EXECUTIVE DIRECTOR AND ITS MANAGERS ARE PAID BASED ON THAT GUIDE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TELEPHONE & UTILITIES: PROGRAM SERVICE EXPENSES 2,560. MANAGEMENT AND GENERAL EXPENSES 284. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,844.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 24E
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0167085
IRS990/TotalAssetsEOYAmt043343
IRS990/TotalAssetsGrp/BOYAmt0167085
IRS990/TotalAssetsGrp/EOYAmt043343
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt012
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt052848
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0329137
IRS990/TotalFunctionalExpensesGrp/TotalAmt0381985
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0152397
IRS990/TotalLiabilitiesEOYAmt014618
IRS990/TotalLiabilitiesGrp/BOYAmt0152397
IRS990/TotalLiabilitiesGrp/EOYAmt014618
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt014688
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt028725
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0329137
IRS990/TotalProgramServiceRevenueAmt0396022
IRS990/TotalReportableCompFromOrgAmt0188024
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0396022
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0396022
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0167085
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt043343
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01761 W HILLSBORO BLVD 103
IRS990/USAddress/CityNm0DEERFIELD BEACH
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033442
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.ALMAFINANCIAL.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ALBERTO LARREA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09544219506
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ALMA FINANCIAL ASSISTANCE CORP
ReturnHeader/Filer/BusinessNameControlTxt0ALMA
ReturnHeader/Filer/EIN0470863848
ReturnHeader/Filer/PhoneNum09544219506
ReturnHeader/Filer/USAddress/AddressLine1Txt01761 W HILLSBORO BLVD 103
ReturnHeader/Filer/USAddress/CityNm0DEERFIELD BEACH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd033442
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0341900735
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CBIZ MHM OF FLORIDA LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02255 GLADES ROAD SUITE 321A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BOCA RATON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd033431
ReturnHeader/PreparerPersonGrp/PhoneNum05619945050
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL FISHER
ReturnHeader/ReturnTs02024-05-14T16:34:09-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ALBERTO
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LARREA
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

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