Civic Intelligence

Desarrollos Universitarios Inc.

990 • Fiscal year 2021 • EIN 66-0540331

Jul 01, 2020 to Jun 30, 2021 • Filed on Nov 11, 2021

Organization Profile
3 Avenida Universidad AdmSan 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

0.83x

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

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Liabilities / Revenue

97th percentile

12.25x

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

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Net Margin

67th percentile

21%

Higher net margin than 67% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Top Officer Pay

6th percentile

$7,452

Higher top officer pay than 6% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Asset Growth

25th percentile

2.7%

Faster asset growth than 25% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2020 to 2021

Revenue Growth

7th percentile

-33%

Faster revenue growth than 7% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$69,836,600

Up $1,852,175 (+2.7%) from 2020

Net Assets

Up

$12,133,190

Up $1,012,304 (+9.1%) from 2020

Liabilities

Up

$57,703,410

Up $839,871 (+1.5%) from 2020

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin67th percentile

Revenue

Down

$4,708,978

Down $2,366,265 (-33%) from 2020

Expenses

Down

$3,696,675

Down $2,210,455 (-37%) from 2020

Net Income

Down

$1,012,303

Down $155,810 (-13%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth25th 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

2021

Assets$69,836,600
Liabilities$57,703,410
Net Assets$12,133,190
Open 2021 Filing

Operations Trend

Revenue Growth7th 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

2021

Revenue$4,708,978
Expenses$3,696,675
Net Income$1,012,303
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Nov 11, 2021
Return Version
2020v4.0
Gross Receipts
$4,708,978
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$47,293,647$44,901,223▼ $2,392,424
Cash and Non-Interest-Bearing Accounts$481,903$24,126▼ $457,777
Total Assets$67,984,425$69,836,600▲ $1,852,175
Other Assets Total$20,208,875$24,911,251▲ $4,702,376
Liabilities
Tax Exempt Bond Liabilities$55,227,989$53,435,712▼ $1,792,277
Accounts Payable and Accrued Expenses$1,635,550$4,267,698▲ $2,632,148
Total Liabilities$56,863,539$57,703,410▲ $839,871
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$11,120,886$12,133,190▲ $1,012,304
Total Net Assets Fund Balance$11,120,886$12,133,190▲ $1,012,304
Total Liabilities and Net Assets / Fund Balance$67,984,425$69,836,600▲ $1,852,175

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$44,901,223--
Other Assets Org$7,668,579--
Compensation and Service Providers
Top Officer Pay6th percentile

Employees

NameTitleBaseTotal
Humberto TorreDirector$7,452$7,452
Jusseff M GaliDirec & Pres$7,452$7,452
Manuel E AresDirector$7,452$7,452

Board Members and Trustees

NameTitle
Carlos L MarreDirector
Jorge HaddocDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Capitol SESecurity ServicesPO Box 906, San Juan, PR 00906$153,846
All PurposeMaintenance ServicesHC04 Box 4, Caguas, PR 00727$119,297
Revenue and Support

Revenue Composition

Contributions and Grants
$4,303,457
Program Service Revenue
$0
Investment Income
$405,521
Other Revenue
$0
Change in Net Assets
$1,012,303

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,708,978
Total Revenue per Audited Statements
$4,708,978
Total Revenue per Form 990
$4,708,978
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,405,988
Salaries, Compensation, and Employee Benefits$290,687
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$2,677,000--$2,677,000
Fees for Services Other$374,620--$374,620
Other Salaries and Wages$270,880--$270,880
All Other Expenses$121,861--$121,861
Office Expenses$71,540--$71,540
Other Expenses$20,931--$20,931
Payroll Taxes$19,807--$19,807
Fees for Services Accounting$16,000--$16,000
Total Functional Expenses$3,696,675$0$0$3,696,675

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,696,675
Total Expenses per Audited Statements$3,696,675
Total Expenses per Form 990$3,696,675
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 N/a-
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 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 AVENIDA UNIVERSIDAD ADM, SAN JUAN, PR 00925

Signing Officer

Name
William Korber
Title
Executive Director
Signed
2021-11-11

Organization Details

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

Preparer

Firm
Rs & Assoc Cpa-psc
Address
500 MUNOZ RIVERA CON, SAN JUAN, PR 00918-3315
Preparer
Pedro L Santiago
Phone
7872960389
Supplemental Narrative

Additional Explanations

Please annexed Schedule O Details blank form that

“includes required Schedule O disclosures”

Financial Statement Notes

Please see Annexed Schedule D - Details blank form for the

“FIN 48 statement included in the Audited Financial Statement”

Raw XML Appendix340 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/TaxExemptBondLiabilitiesGrp/BOYAmt055227989
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt053435712
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IRS990/TotalAssetsBOYAmt067984425
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt03696675
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt069836600
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IRS990/USAddress/CityNm0SAN JUAN
IRS990/USAddress/StateAbbreviationCd0PR
IRS990/USAddress/ZIPCd000925
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0WILLIAM KORBER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DESARROLLOS UNIVERSITARIOS INC
ReturnHeader/Filer/BusinessNameControlTxt0DESA
ReturnHeader/Filer/EIN0660540331
ReturnHeader/Filer/USAddress/AddressLine1Txt03 AVENIDA UNIVERSIDAD ADM
ReturnHeader/Filer/USAddress/CityNm0SAN JUAN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PR
ReturnHeader/Filer/USAddress/ZIPCd000925
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0660579838
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RS & ASSOC CPA-PSC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0500 MUNOZ RIVERA CON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SAN JUAN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0009183315
ReturnHeader/PreparerPersonGrp/PhoneNum07872960389
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PEDRO L SANTIAGO
ReturnHeader/ReturnTs02022-05-12T18:21:32-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$69,836,600
Liabilities
$57,703,410
Net assets
$12,133,190
Revenue
$4,708,978
Expenses
$3,696,675
Net income
$1,012,303
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