Civic Intelligence

Desarrollos Universitarios Inc.

990 • Fiscal year 2018 • EIN 66-0540331

Jul 01, 2017 to Jun 30, 2018 • Filed on Feb 02, 2019

Organization Profile
3 Avenida Universidad Oficina AdSan Juan, PR 00925

(787) 904-9985

Siviq Scores

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

Liabilities / Assets

88th percentile

0.88x

Higher debt load relative to assets than 88% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Liabilities / Revenue

96th percentile

8.67x

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

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Net Margin

66th percentile

10%

Higher net margin than 66% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Top Officer Pay

5th percentile

$23,000

Higher top officer pay than 5% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Asset Growth

21st percentile

-3.6%

Faster asset growth than 21% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2017 to 2018

Revenue Growth

32nd percentile

-0.1%

Faster revenue growth than 32% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets88th percentile

Assets

Down

$73,310,369

Down $2,714,316 (-3.6%) from 2017

Net Assets

Up

$8,985,919

Up $770,638 (+9.4%) from 2017

Liabilities

Down

$64,324,450

Down $3,484,954 (-5.1%) from 2017

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin66th percentile

Revenue

Down

$7,422,629

Down $5,678 (-0.1%) from 2017

Expenses

Down

$6,651,991

Down $397,608 (-5.6%) from 2017

Net Income

Up

$770,638

Up $391,930 (+103%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

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

$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

2018

Assets$73,310,369
Liabilities$64,324,450
Net Assets$8,985,919
Open 2018 Filing

Operations Trend

Revenue Growth32nd percentile

Revenue, expenses, and net income across loaded years, with this 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

2018

Revenue$7,422,629
Expenses$6,651,991
Net Income$770,638
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Feb 2, 2019
Return Version
2017v2.2
Gross Receipts
$7,422,629
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 commercial spaces - parking

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$55,594,522$52,164,360▼ $3,430,162
Cash and Non-Interest-Bearing Accounts$3,602,553$3,641,011▲ $38,458
Total Assets$76,024,685$73,310,369▼ $2,714,316
Other Assets Total$16,827,610$17,504,998▲ $677,388
Liabilities
Tax Exempt Bond Liabilities$62,741,358$60,375,998▼ $2,365,360
Accounts Payable and Accrued Expenses$5,068,046$3,948,452▼ $1,119,594
Total Liabilities$67,809,404$64,324,450▼ $3,484,954
Net Assets / Fund Balance
Unrestricted Net Assets$8,215,281$8,985,919▲ $770,638
Total Net Assets Fund Balance$8,215,281$8,985,919▲ $770,638
Total Liabilities and Net Assets / Fund Balance$76,024,685$73,310,369▼ $2,714,316

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$52,164,360--
Other Assets Org$1,011,116--
Compensation and Service Providers
Top Officer Pay5th percentile

Employees

NameTitleBaseTotal
Humberto TorreDir, Tre & Sec$23,000$23,000
Jusseff M GaliDirec & Pres$23,000$23,000
Manuel E AresDirec$23,000$23,000

Board Members and Trustees

NameTitle
Darrel F HillmDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Capitol Security Police INCSecurity ServicesPO BOX 9066604, San Juan, PR 00906-6604$1,061,054
All Purpose Services MaintMaintenance ServicesHC 04 BOX 44374 MSC 1327, Caguas, PR 00727$476,374
Moreda And Moreda PscLegal ServicesPO BOX 366066, San Juan, PR 00936$159,565
William Korber BlancoManagement SevicesPO BOX 9767, Cidra, PR 00739$133,758
Revenue and Support

Revenue Composition

Contributions and Grants
$6,920,997
Program Service Revenue
$0
Investment Income
$501,632
Other Revenue
$0
Change in Net Assets
$770,638

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,422,629
Total Revenue per Audited Statements
$7,422,629
Total Revenue per Form 990
$7,422,629
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,270,625
Salaries, Compensation, and Employee Benefits$381,366
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$3,211,512--$3,211,512
Fees for Services Other$1,942,826--$1,942,826
Other Expenses$620,911--$620,911
Other Salaries and Wages$360,865--$360,865
Fees for Services Legal$214,387--$214,387
Office Expenses$131,272--$131,272
Fees for Services Accounting$77,526--$77,526
Insurance$68,800--$68,800
Payroll Taxes$20,501--$20,501
Information Technology$3,391--$3,391
Total Functional Expenses$6,651,991$0$0$6,651,991

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,651,991
Total Expenses per Audited Statements$6,651,991
Total Expenses per Form 990$6,651,991
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
Yes
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
Filing and Contact Details

Filer

Filer Name
Desarrollos Universitarios Inc
EIN
66-0540331
Phone
7879049985
Address
3 AVENIDA UNIVERSIDAD OFICINA AD, SAN JUAN, PR 00925

Signing Officer

Name
William Korber
Title
Executive Director
Signed
2019-02-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Korber
Voting Board Members
5
Independent Board Members
5
Employees
10

Preparer

Firm
Rs Assoc CPA Psc
Address
500 MUNOZ RIVERA AVE, SAN JUAN, PR 00918
Preparer
Pedro L Santiago
Phone
7872960389
Supplemental Narrative

Additional Explanations

Please see annexed Schedule O Details blank form that

“includes required Schedule O Disclosures”

Financial Statement Notes

Please see Annexed Schedule D - detils blank form for the

“FIN 48 statement included in the Audited Financial Statement”

Raw XML Appendix344 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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ReturnHeader/BuildTS02019-02-21 02:37:17Z
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ReturnHeader/ReturnTs02019-01-10T16:29:43-04:00
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ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$73,310,369
Liabilities
$64,324,450
Net assets
$8,985,919
Revenue
$7,422,629
Expenses
$6,651,991
Net income
$770,638
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