Institute For The Puerto Rican Hispanic Elderly Inc
Institute For The Puerto Rican Hispanic Elderly Inc faces persistent operational deficits and growing liabilities despite no reported officer compensation.
EIN: 132987263 · Bronx, NY · NTEE: P810 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $6.0M |
| Total Expenses | $6.3M |
| Program Spending | 80% |
| Net Assets | $-2,553,653 |
| Transparency Score | 65/100 |
Is Institute For The Puerto Rican Hispanic Elderly Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Institute For The Puerto Rican Hispanic Elderly Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Institute For The Puerto Rican Hispanic Elderly Inc
Institute For The Puerto Rican Hispanic Elderly Inc (EIN: 132987263) is a nonprofit organization based in Bronx, NY, classified under NTEE code P810. The organization reported total revenue of $6.0M and total assets of $3.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Institute For The Puerto Rican Hispanic Elderly Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Institute For The Puerto Rican Hispanic Elderly Inc is a mid-size nonprofit that has been operating for 46 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -1.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.5M |
| Total Expenses | $6.3M |
| Surplus / Deficit | $-765,778 |
| Total Assets | $2.8M |
| Total Liabilities | $5.3M |
| Net Assets | $-2,553,653 |
| Operating Margin | -13.9% |
| Debt-to-Asset Ratio | 191.6% |
| Months of Reserves | 5.3 months |
Financial Health Grade: C
In 2023, Institute For The Puerto Rican Hispanic Elderly Inc reported a deficit of $766K with expenses exceeding revenue, holds 5.3 months of operating reserves (adequate), has a debt-to-asset ratio of 191.6% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Institute For The Puerto Rican Hispanic Elderly Inc's revenue has declined at a compound annual growth rate (CAGR) of -1.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +27.3% | +41.1% | -7.2% |
| 2022 | +66.0% | +52.8% | +1.9% |
| 2021 | -34.4% | -34.2% | +30.0% |
| 2020 | -21.0% | -15.7% | +0.4% |
| 2019 | -0.5% | +2.4% | +9.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 1980 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Institute For The Puerto Rican Hispanic Elderly Inc with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Institute For The Puerto Rican Hispanic Elderly Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $766K, with expenses exceeding revenue.
- Debt-to-asset ratio: 191.6%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's officers are not receiving salaries, which is highly commendable and suggests a strong commitment to directing resources towards the mission.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Institute For The Puerto Rican Hispanic Elderly Inc's IRS 990 filings:
- Consistent operational deficits, with expenses exceeding revenue in most recent years (e.g., 2023, 2022, 2021, 2020, 2019, 2018, 2016, 2015, 2014).
- Significant and growing liabilities, reaching $5,341,180 in 2023, which are considerably higher than assets ($2,787,527).
- Negative net assets in several periods, indicating that liabilities exceed assets.
Strengths
The following positive indicators were identified for Institute For The Puerto Rican Hispanic Elderly Inc:
- Zero reported officer compensation across all filings, demonstrating a strong commitment to mission-focused spending.
- Consistent revenue generation over several years, indicating a stable base of support.
- Growth in assets over the past decade, from $77,481 in 2015 to $2,787,527 in 2023.
Frequently Asked Questions about Institute For The Puerto Rican Hispanic Elderly Inc
Is Institute For The Puerto Rican Hispanic Elderly Inc a legitimate charity?
Institute For The Puerto Rican Hispanic Elderly Inc (EIN: 132987263) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 65/100. It has 13 years of IRS 990 filings on record. Total revenue: $6.0M. 3 red flags identified. 3 strengths noted. Financial health grade: C.
How does Institute For The Puerto Rican Hispanic Elderly Inc spend its money?
Institute For The Puerto Rican Hispanic Elderly Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Institute For The Puerto Rican Hispanic Elderly Inc tax-deductible?
Institute For The Puerto Rican Hispanic Elderly Inc is registered as a tax-exempt nonprofit (EIN: 132987263). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Institute For The Puerto Rican Hispanic Elderly Inc's spending goes to programs?
Institute For The Puerto Rican Hispanic Elderly Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Institute For The Puerto Rican Hispanic Elderly Inc compare to similar nonprofits?
With a transparency score of 65/100 (Good), Institute For The Puerto Rican Hispanic Elderly Inc is above average for NTEE category P810 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Institute For The Puerto Rican Hispanic Elderly Inc located?
Institute For The Puerto Rican Hispanic Elderly Inc is headquartered in Bronx, New York and files with the IRS under EIN 132987263. It is classified under NTEE code P810.
How many years of IRS 990 filings does Institute For The Puerto Rican Hispanic Elderly Inc have?
Institute For The Puerto Rican Hispanic Elderly Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $6.0M in total revenue.
Is Institute For The Puerto Rican Hispanic Elderly Inc financially sustainable?
The organization has consistently reported expenses exceeding revenue in most recent years (e.g., $6,281,434 expenses vs. $5,515,656 revenue in 2023), indicating a pattern of operational deficits. This trend, coupled with growing liabilities ($5,341,180 in 2023), raises concerns about long-term financial sustainability.
What is the reason for the significant increase in liabilities?
Liabilities have grown substantially from $790,017 in 2015 to $5,341,180 in 2023. Without more detailed financial statements, the specific reasons for this increase are unclear, but it could be due to loans, deferred revenue, or other financial obligations.
How does the organization cover its operational deficits?
Given the recurring deficits, the organization must be covering these shortfalls through drawing down reserves, increasing liabilities, or other non-operating income sources. This is not sustainable in the long run without a clear strategy to balance revenue and expenses.
Filing History
IRS 990 filing history for Institute For The Puerto Rican Hispanic Elderly Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Institute For The Puerto Rican Hispanic Elderly Inc's revenue has declined by 16%, moving from $6.6M to $5.5M. Total assets increased by 40.9% over the same period, from $2.0M to $2.8M. Total functional expenses fell by 6.7%, from $6.7M to $6.3M. In its most recent filing year (2023), Institute For The Puerto Rican Hispanic Elderly Inc reported a deficit of $766K, with expenses exceeding revenue. The organization holds $5.3M in liabilities against $2.8M in assets (debt-to-asset ratio: 191.6%), resulting in net assets of $-2,553,653.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.5M | $6.3M | $2.8M | $5.3M | — | — |
| 2022 | $4.3M | $4.5M | $3.0M | $4.8M | — | View 990 |
| 2021 | $2.6M | $2.9M | $2.9M | $4.6M | — | View 990 |
| 2020 | $4.0M | $4.4M | $2.3M | $3.6M | — | View 990 |
| 2019 | $5.0M | $5.3M | $2.3M | $3.2M | — | View 990 |
| 2018 | $5.1M | $5.1M | $2.1M | $2.8M | — | View 990 |
| 2017 | $4.2M | $4.0M | $1.9M | $2.6M | — | View 990 |
| 2016 | $4.3M | $4.6M | $1.0M | $1.8M | — | View 990 |
| 2015 | $4.2M | $5.0M | $77K | $790K | — | View 990 |
| 2014 | $5.4M | $5.8M | $1.1M | $340K | — | View 990 |
| 2013 | $5.4M | $5.7M | $1.3M | $343K | — | View 990 |
| 2012 | $6.1M | $5.6M | $1.7M | $537K | — | View 990 |
| 2011 | $6.6M | $6.7M | $2.0M | $549K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.5M, expenses of $6.3M, and assets of $2.8M (revenue +27.3% year-over-year).
- 2022: Revenue of $4.3M, expenses of $4.5M, and assets of $3.0M (revenue +66.0% year-over-year).
- 2021: Revenue of $2.6M, expenses of $2.9M, and assets of $2.9M (revenue -34.4% year-over-year).
- 2020: Revenue of $4.0M, expenses of $4.4M, and assets of $2.3M (revenue -21.0% year-over-year).
- 2019: Revenue of $5.0M, expenses of $5.3M, and assets of $2.3M (revenue -0.5% year-over-year).
- 2018: Revenue of $5.1M, expenses of $5.1M, and assets of $2.1M (revenue +19.4% year-over-year).
- 2017: Revenue of $4.2M, expenses of $4.0M, and assets of $1.9M (revenue -2.3% year-over-year).
- 2016: Revenue of $4.3M, expenses of $4.6M, and assets of $1.0M (revenue +2.9% year-over-year).
- 2015: Revenue of $4.2M, expenses of $5.0M, and assets of $77K (revenue -21.6% year-over-year).
- 2014: Revenue of $5.4M, expenses of $5.8M, and assets of $1.1M (revenue -0.7% year-over-year).
- 2013: Revenue of $5.4M, expenses of $5.7M, and assets of $1.3M (revenue -11.3% year-over-year).
- 2012: Revenue of $6.1M, expenses of $5.6M, and assets of $1.7M (revenue -7.0% year-over-year).
- 2011: Revenue of $6.6M, expenses of $6.7M, and assets of $2.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Institute For The Puerto Rican Hispanic Elderly Inc:
Data Sources and Methodology
This transparency report for Institute For The Puerto Rican Hispanic Elderly Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.