Civic Intelligence

Instituto De Competitividad Y Sostenibilidad Economica De Puerto

990 • Fiscal year 2022 • EIN 66-0847616

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 14, 2023

Organization ProfileICSEPR.ORG
PO Box 2128San Juan, PR 00922

(787) 630-9990

Siviq Scores

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

Liabilities / Assets

94th percentile

0.90x

Higher debt load relative to assets than 94% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

96th percentile

1.20x

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

35th percentile

-2.8%

Higher net margin than 35% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

20th percentile

-23%

Faster asset growth than 20% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

13th percentile

-45%

Faster revenue growth than 13% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$228,944

Down $69,489 (-23%) from 2021

Net Assets

Down

$23,950

Down $4,771 (-17%) from 2021

Liabilities

Down

$204,994

Down $64,718 (-24%) from 2021

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin35th percentile

Revenue

Down

$170,626

Down $137,245 (-45%) from 2021

Expenses

Down

$175,397

Down $42,317 (-19%) from 2021

Net Income

Down

-$4,771

Down $94,928 (-105%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth20th percentile

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

$800K$600K$400K$200K$0-$200KAssets 2015: $77,893Liabilities 2015: $46,851Net Assets 2015: $31,0422015Assets 2017: $92,273Liabilities 2017: $45,709Net Assets 2017: $46,5642017Assets 2018: $126,105Liabilities 2018: $0Net Assets 2018: $126,1052018Assets 2019: $54,597Liabilities 2019: $10,871Net Assets 2019: $43,7262019Assets 2020: $17,160Liabilities 2020: $22,779Net Assets 2020: -$5,6192020Assets 2021: $298,433Liabilities 2021: $269,712Net Assets 2021: $28,7212021Assets 2022: $228,944Liabilities 2022: $204,994Net Assets 2022: $23,9502022Assets 2023: $640,001Liabilities 2023: $613,981Net Assets 2023: $26,0202023Assets 2024: $426,033Liabilities 2024: $501,518Net Assets 2024: -$75,4852024

Highlighted filing

2022

Assets$228,944
Liabilities$204,994
Net Assets$23,950
Open 2022 Filing

Operations Trend

Revenue Growth13th percentile

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

$600K$400K$200K$0-$200KRevenue 2015: $219,739Expenses 2015: $188,697Net Income 2015: $31,0422015Revenue 2017: $366,596Expenses 2017: $351,074Net Income 2017: $15,5222017Revenue 2018: $376,508Expenses 2018: $296,967Net Income 2018: $79,5412018Revenue 2019: $198,020Expenses 2019: $280,399Net Income 2019: -$82,3792019Revenue 2020: $224,120Expenses 2020: $273,464Net Income 2020: -$49,3442020Revenue 2021: $307,871Expenses 2021: $217,714Net Income 2021: $90,1572021Revenue 2022: $170,626Expenses 2022: $175,397Net Income 2022: -$4,7712022Revenue 2023: $349,530Expenses 2023: $347,459Net Income 2023: $2,0712023Revenue 2024: $409,853Expenses 2024: $511,358Net Income 2024: -$101,5052024

Highlighted filing

2022

Revenue$170,626
Expenses$175,397
Net Income-$4,771
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 14, 2023
Return Version
2022v5.0
Gross Receipts
$170,626
Mission and Program Overview

Mission

TO CONDUCT EDUCATIONAL SERVICES THAT ARE EXCLUSIVELY WITHIN THE MEANING OF SECTION 501c3 OF THE IRS AND PARTICIPATE IN ACTIVITIES

To conduct educational activiti under section 501c3 of the irs and participate in activities and alliances that foster socioeconomic well being in puerto rico

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$33,500$142,190▲ $108,690
Cash and Non-Interest-Bearing Accounts$264,933$86,754▼ $178,179
Total Assets$298,433$228,944▼ $69,489
Liabilities
Accounts Payable and Accrued Expenses$269,712$204,994▼ $64,718
Total Liabilities$269,712$204,994▼ $64,718
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$28,721$23,950▼ $4,771
Total Net Assets Fund Balance$28,721$23,950▼ $4,771
Total Liabilities and Net Assets / Fund Balance$298,433$228,944▼ $69,489
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleBaseTotal
Veronica SantiagoDirector$16,762$16,762

Board Members and Trustees

NameTitle
Jose E RossiPresident
Jose E FernandDirector
Juan a LarreaDirector
Ramon a SancheExecutive Dire
Waleska RiveraTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$140,000
Program Service Revenue
$0
Investment Income
$538
Other Revenue
$30,088
All Other Contributions
$140,000
Change in Net Assets
$-4,771
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$126,232
Salaries, Compensation, and Employee Benefits$49,165
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal$73,866--$73,866
Current Officers, Directors, Trustees, and Key Employees$49,165--$49,165
Fees for Services Other$38,996--$38,996
Fees for Services Accounting$9,000--$9,000
Other Expenses$1,515--$1,515
Interest$1,317--$1,317
Insurance$1,110--$1,110
Total Functional Expenses$175,397$0$0$175,397
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
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

Governance Explanations

PART VI - SECTION B - ITEM 11B

“The final draft of form 990 was circulated to each member of the governing body prior to filing.”

PART VI - SECTION B - ITEM 12C

“By laws require that all members of the board sign their agreement with the conflict of interest policy. In addition each member will reafirm on a yearly basis their agreement with the policy.”

PART VI - SECTION B - ITEM 15B

“In accordance with section vii of form 990, none of the board of director memebers receives compensation. Any compensation for top management officials....continued”

PART VI - SECTION B - ITEM 15B

“....is reciewed and approved by the governing board with the advice of the legal counsel, considering comparability data and the required deliberation and decision process.”

Part VI - Section C - Item 19

“Availability of governing documents, conflict of interest policy and financial statements are available on the icse website.”

Filing and Contact Details

Filer

Filer Name
Instituto De Competitividad Y
EIN
66-0847616
Address
PO BOX 2128, SAN JUAN, PR 00922

Signing Officer

Name
Jose E Rossi
Title
President
Phone
7876309990
Signed
2023-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jose E Rossi
Voting Board Members
5
Independent Board Members
5
Employees
1

Preparer

Firm
Uhy Del Valle & Nieves Psc
Address
PO BOX 361863, SAN JUAN, PR 00936-1863
Preparer
Rafael Figueroa Cruz
Phone
7877934650
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FINAL DRAFT OF FORM 990 WAS CIRCULATED TO EACH MEMBER OF THE GOVERNING BODY PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BY LAWS REQUIRE THAT ALL MEMBERS OF THE BOARD SIGN THEIR AGREEMENT WITH THE CONFLICT OF INTEREST POLICY. IN ADDITION EACH MEMBER WILL REAFIRM ON A YEARLY BASIS THEIR AGREEMENT WITH THE POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2IN ACCORDANCE WITH SECTION VII OF FORM 990, NONE OF THE BOARD OF DIRECTOR MEMEBERS RECEIVES COMPENSATION. ANY COMPENSATION FOR TOP MANAGEMENT OFFICIALS....CONTINUED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3....IS RECIEWED AND APPROVED BY THE GOVERNING BOARD WITH THE ADVICE OF THE LEGAL COUNSEL, CONSIDERING COMPARABILITY DATA AND THE REQUIRED DELIBERATION AND DECISION PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AVAILABILITY OF GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE ON THE ICSE WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PART VI - SECTION B - ITEM 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1PART VI - SECTION B - ITEM 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2PART VI - SECTION B - ITEM 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3PART VI - SECTION B - ITEM 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PART VI - SECTION C - ITEM 19
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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$228,944
Liabilities
$204,994
Net assets
$23,950
Revenue
$170,626
Expenses
$175,397
Net income
-$4,771
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.26$5.02$0.75$4.10$5.11$1.02
2023Summary only. Only limited summary data is available for this year.$6.40$6.14$0.26$3.50$3.47$0.02
2022Detailed filing. Detailed filing data is available for this year.$2.29$2.05$0.24$1.71$1.75$0.05
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.98$2.70$0.29$3.08$2.18$0.90
2020Summary only. Only limited summary data is available for this year.$0.17$0.23$0.06$2.24$2.73$0.49
2019Summary only. Only limited summary data is available for this year.$0.55$0.11$0.44$1.98$2.80$0.82
2018Summary only. Only limited summary data is available for this year.$1.26$0.00$1.26$3.77$2.97$0.80
2017Summary only. Only limited summary data is available for this year.$0.92$0.46$0.47$3.67$3.51$0.16
2015Summary only. Only limited summary data is available for this year.$0.78$0.47$0.31$2.20$1.89$0.31
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2022 filings • 501(c)3 • <$500k nonprofits