Civic Intelligence

Desarrollos Universitarios Inc

EIN 66-0540331 • 501(c)3 • San Juan, PR

Profile

Development, constructing and equiping certain educational facilities for he benefit of University of PR and provide student housing.Admini- strative office limited comercial spacesa parking for the UPR.

3 Ave Universidad AdminSan Juan, PR 00925
Siviq Scores

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

Liabilities / Assets

85th percentile

0.78x

Higher debt load relative to assets than 85% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2023

Liabilities / Revenue

97th percentile

12.78x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2023

Net Margin

83rd percentile

32%

Higher net margin than 83% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2023

Top Officer Pay

8th percentile

$0

Higher top officer pay than 8% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $50M-$100M nonprofits • Source year 2023

Asset Growth

20th percentile

-2.0%

Faster asset growth than 20% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2022 to 2023

Revenue Growth

24th percentile

-3.4%

Faster revenue growth than 24% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets85th percentile

Assets

Down

$67,094,183

Down $1,345,969 (-2.0%) from 2022

Liabilities

Down

$52,496,252

Down $2,662,860 (-4.8%) from 2022

Net Assets

Up

$14,597,931

Up $1,316,891 (+9.9%) from 2022

Operations
Liabilities / Revenue97th percentileNet Margin83rd percentile

Revenue

Down

$4,106,614

Down $142,852 (-3.4%) from 2022

Expenses

Down

$2,789,724

Down $311,892 (-10%) from 2022

Net Income

Up

$1,316,890

Up $169,040 (+15%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth20th percentile

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

$100M$50M$0Assets 2012: $86,004,639Liabilities 2012: $79,325,722Net Assets 2012: $6,678,9172012Assets 2013: $85,609,243Liabilities 2013: $77,798,648Net Assets 2013: $7,810,5952013Assets 2014: $83,678,818Liabilities 2014: $76,229,683Net Assets 2014: $7,449,1352014Assets 2015: $81,134,479Liabilities 2015: $74,073,877Net Assets 2015: $7,060,6022015Assets 2016: $78,340,805Liabilities 2016: $70,504,232Net Assets 2016: $7,836,5732016Assets 2017: $76,024,685Liabilities 2017: $67,809,404Net Assets 2017: $8,215,2812017Assets 2018: $73,310,369Liabilities 2018: $64,324,450Net Assets 2018: $8,985,9192018Assets 2020: $67,984,425Liabilities 2020: $56,863,539Net Assets 2020: $11,120,8862020Assets 2021: $69,836,600Liabilities 2021: $57,703,410Net Assets 2021: $12,133,1902021Assets 2022: $68,440,152Liabilities 2022: $55,159,112Net Assets 2022: $13,281,0402022Assets 2023: $67,094,183Liabilities 2023: $52,496,252Net Assets 2023: $14,597,9312023

Highlighted filing

2023

Assets$67,094,183
Liabilities$52,496,252
Net Assets$14,597,931
Open 2023 Filing

Operations Trend

Revenue Growth24th percentile

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

$10M$5.0M$0-$5.0MRevenue 2012: $8,022,920Expenses 2012: $6,882,401Net Income 2012: $1,140,5192012Revenue 2013: $7,879,229Expenses 2013: $6,747,551Net Income 2013: $1,131,6782013Revenue 2014: $6,422,736Expenses 2014: $6,784,196Net Income 2014: -$361,4602014Revenue 2015: $6,343,899Expenses 2015: $6,732,432Net Income 2015: -$388,5332015Revenue 2016: $7,873,291Expenses 2016: $7,097,320Net Income 2016: $775,9712016Revenue 2017: $7,428,307Expenses 2017: $7,049,599Net Income 2017: $378,7082017Revenue 2018: $7,422,629Expenses 2018: $6,651,991Net Income 2018: $770,6382018Revenue 2020: $7,075,243Expenses 2020: $5,907,130Net Income 2020: $1,168,1132020Revenue 2021: $4,708,978Expenses 2021: $3,696,675Net Income 2021: $1,012,3032021Revenue 2022: $4,249,466Expenses 2022: $3,101,616Net Income 2022: $1,147,8502022Revenue 2023: $4,106,614Expenses 2023: $2,789,724Net Income 2023: $1,316,8902023

Highlighted filing

2023

Revenue$4,106,614
Expenses$2,789,724
Net Income$1,316,890
Open 2023 Filing

Filings

Most recent year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$67,094,183
Liabilities
$52,496,252
Net assets
$14,597,931
Revenue
$4,106,614
Expenses
$2,789,724
Net income
$1,316,890
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$67.1$52.5$14.6$4.11$2.79$1.32
2022Detailed filing. Detailed filing data is available for this year.$68.4$55.2$13.3$4.25$3.10$1.15
2021Detailed filing. Detailed filing data is available for this year.$69.8$57.7$12.1$4.71$3.70$1.01
2020Summary only. Only limited summary data is available for this year.$68.0$56.9$11.1$7.08$5.91$1.17
2018Detailed filing. Detailed filing data is available for this year.$73.3$64.3$8.99$7.42$6.65$0.77
2017Detailed filing. Detailed filing data is available for this year.$76.0$67.8$8.22$7.43$7.05$0.38
2016Detailed filing. Detailed filing data is available for this year.$78.3$70.5$7.84$7.87$7.10$0.78
2015Detailed filing. Detailed filing data is available for this year.$81.1$74.1$7.06$6.34$6.73$0.39
2014Summary only. Only limited summary data is available for this year.$83.7$76.2$7.45$6.42$6.78$0.36
2013Summary only. Only limited summary data is available for this year.$85.6$77.8$7.81$7.88$6.75$1.13
2012Summary only. Only limited summary data is available for this year.$86.0$79.3$6.68$8.02$6.88$1.14
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Oct 31, 2023
Return Version
2022v5.0
Gross Receipts
$4,106,614
Mission and Program Overview

Mission

Development, constructing and equiping certain educational facilities for he benefit of University of PR and provide student housing.Admini- strative office limited comercial spacesa parking for the UPR.

Development, constructing and operating facilities for the university of pr, provide student housing administrative offices, limited comercial spaces - parking

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$42,035,037$49,987,223▲ $7,952,186
Cash and Non-Interest-Bearing Accounts$55,683$64,433▲ $8,750
Total Assets$68,440,152$67,094,183▼ $1,345,969
Other Assets Total$26,349,432$17,042,527▼ $9,306,905
Liabilities
Tax Exempt Bond Liabilities$52,053,978$49,213,322▼ $2,840,656
Accounts Payable and Accrued Expenses$3,105,134$3,282,930▲ $177,796
Total Liabilities$55,159,112$52,496,252▼ $2,662,860
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$13,281,040$14,597,931▲ $1,316,891
Total Net Assets Fund Balance$13,281,040$14,597,931▲ $1,316,891
Total Liabilities and Net Assets / Fund Balance$68,440,152$67,094,183▼ $1,345,969

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$49,987,223--
Other Assets Org$2,810,894--
Compensation and Service Providers
Top Officer Pay8th percentile

Board Members and Trustees

NameTitle
Carlos L MarreDirector
Humberto TorreDirector
Luis a FerraoDirector
Manuel E AresDirector
Jusseff M GallDirc & Pres
Revenue and Support

Revenue Composition

Contributions and Grants
$3,541,612
Program Service Revenue
$0
Investment Income
$565,002
Other Revenue
$0
Change in Net Assets
$1,316,890

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,106,614
Total Revenue per Audited Statements
$4,106,614
Total Revenue per Form 990
$4,106,614
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,524,792
Salaries, Compensation, and Employee Benefits$264,932
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$2,367,250--$2,367,250
Other Salaries and Wages$264,869--$264,869
Other Expenses$90,241--$90,241
Fees for Services Legal$31,500--$31,500
Fees for Services Accounting$13,472--$13,472
Insurance$13,058--$13,058
Office Expenses$522--$522
Fees for Services Other$203--$203
Payroll Taxes$63--$63
Total Functional Expenses$2,789,724$0$0$2,789,724

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,789,725
Total Expenses per Audited Statements$2,789,725
Total Expenses per Form 990$2,789,725
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
None-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
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
Filing and Contact Details

Filer

Filer Name
Desarrollos Universitarios Inc
EIN
66-0540331
Address
3 AVE UNIVERSIDAD ADMIN, SAN JUAN, PR 00925

Signing Officer

Name
William Korber
Title
Executive Director
Phone
7879049985
Signed
2023-10-31

Organization Details

Principal Officer
William Korber
Voting Board Members
5
Independent Board Members
5
Employees
5

Preparer

Firm
Rs Associates CPA Psc
Address
500 MUNOZ RIVERA AVE EL CENTRO 2, SAN JUAN, PR 00918
Preparer
Pedro L Santiago Marti
Supplemental Narrative

Additional Explanations

Please See Annexed Schedule O Details on Blank Forms

“That includes required schedule o disclosures”

Please See Schedules Details Blank Forms That Includes

“Requested schedule of disclousures.”

Financial Statement Notes

Please See Annexed Schedule D - Details Blank Form for the

“Fin 48 statement included in the audited financial statement”

Please See Annexed Schedule O Details Blank for That

“Includes required schedule o disclosures.”

Raw XML Appendix336 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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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0NET INV DIRECT FINANCIAL LEASE
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt03296265
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt16421743
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt21183625
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt33330000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt42810894
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CONSTRUCTION FUND ACCOUNT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DEBT SERVICES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2INTEREST ACCOUNT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3PRINCIAL ACCOUNT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4MASTER DEBT SERVICE ACCOUNT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0None
IRS990ScheduleD/RevenueSubtotalAmt04106614
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FIN 48 STATEMENT INCLUDED IN THE AUDITED FINANCIAL STATEMENT
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1INCLUDES REQUIRED SCHEDULE O DISCLOSURES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PLEASE SEE ANNEXED SCHEDULE D - DETAILS BLANK FORM FOR THE
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PLEASE SEE ANNEXED SCHEDULE O DETAILS BLANK FOR THAT
IRS990ScheduleD/TotalBookValueOtherAssetsAmt017042527
IRS990ScheduleD/TotalBookValueProgramRltdAmt049987223
IRS990ScheduleD/TotalExpensesPerForm990Amt02789725
IRS990ScheduleD/TotalRevenuePerForm990Amt04106614
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04106614
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02789725
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THAT INCLUDES REQUIRED SCHEDULE O DISCLOSURES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1REQUESTED SCHEDULE OF DISCLOUSURES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PLEASE SEE ANNEXED SCHEDULE O DETAILS ON BLANK FORMS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1PLEASE SEE SCHEDULES DETAILS BLANK FORMS THAT INCLUDES
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt052053978
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt049213322
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt068440152
IRS990/TotalAssetsEOYAmt067094183
IRS990/TotalAssetsGrp/BOYAmt068440152
IRS990/TotalAssetsGrp/EOYAmt067094183
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt03541612
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02789724
IRS990/TotalFunctionalExpensesGrp/TotalAmt02789724
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt055159112
IRS990/TotalLiabilitiesEOYAmt052496252
IRS990/TotalLiabilitiesGrp/BOYAmt055159112
IRS990/TotalLiabilitiesGrp/EOYAmt052496252
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt013281040
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt014597931
IRS990/TotalProgramServiceExpensesAmt02789724
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0565002
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04106614
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt068440152
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt067094183
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02 AVENIDA UNIV ADM
IRS990/USAddress/CityNm0SAN JUAN
IRS990/USAddress/StateAbbreviationCd0PR
IRS990/USAddress/ZIPCd000925
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0WILLIAM KORBER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07879049985
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-10-31
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DESARROLLOS UNIVERSITARIOS INC
ReturnHeader/Filer/BusinessNameControlTxt0DESA
ReturnHeader/Filer/EIN0660540331
ReturnHeader/Filer/USAddress/AddressLine1Txt03 AVE UNIVERSIDAD ADMIN
ReturnHeader/Filer/USAddress/CityNm0SAN JUAN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PR
ReturnHeader/Filer/USAddress/ZIPCd000925
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0660579838
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RS ASSOCIATES CPA PSC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0500 MUNOZ RIVERA AVE EL CENTRO 2
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SAN JUAN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd000918
ReturnHeader/PreparerPersonGrp/PreparationDt02023-09-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PEDRO L SANTIAGO MARTI
ReturnHeader/ReturnTs02023-11-13T13:00:56-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

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