Sociedad Espaola De Auxilio Mutuo Y Beneficencia De Puerto Rico

Nonprofit profile at a glance

EIN
660178704
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
San Juan, PR, USA
Phone
7877582000
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Hospital, General

Reported finances

Revenue
$117,804,262
Expenses
$121,968,482
Assets
$287,933,303
Liabilities
$122,685,822

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

34 people listed

Executive titles in this filing

  • ENRIQUE FIERRES GONZLEZ (PRESIDENT)

Highest reported compensation

  • CARLOS RODRIGUEZ ORTIZ (ADMINISTRATO): $128,487 total reported compensation
  • ELBA RIVERA CONCEPCION (DIRECTOR): $90,600 total reported compensation
  • YAJAIRA MULERO VIRUET (DIRECTOR): $85,610 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Sociedad espaola de auxilio mutuo y beneficencia de puerto rico (the company) had been previously filing as a 501 (c) (3) organization. On april 29, 1992 a new nonprofit organization was created to continue providing the hospital and health care services previously provided under the legal name of the company. On august 20, 1992 this change was reported to the exempt organizations branch of the internal revenue service. The IRS was informed that the company would become a controlling affiliate that would owned the real property and would transfer its funds (income less expenses) for use in a manner consistent with the exemption. On september 30, 1992 the IRS informed that the company is not required to file a new application for tax exemption as a title holding corporation. The company also administers a health plan under which individuals in the community (without exceptions) may become members with the right to receive hospital and health care services at the facilities of hospital e

What it reported doing in 2024

Plan members covered by the company's health plan - 24,443

Operating model

Revenue model
Earned-program. 93% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Some filing-based governance responses are negative or unanswered and some related-organization disclosures are missing.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 90
  • Accountability: 84
  • Sustainability: 42
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.4%; rating input score 65
  • Program expense ratio: 64.9%; rating input score 65
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Scored; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -3.5%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 2.36; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 0.43; rating input score 42; 42nd percentile among comparable filings
  • Officer compensation ratio: 0.4%; rating input score 86; 86th percentile among comparable filings

Growth

  • Program expense growth: 13.5% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: 9.1% per year; rating input score 100; 73rd percentile among comparable filings
  • Asset growth: 1.9% per year; rating input score 100; 14th percentile among comparable filings

Details

  • Where the money goes: 65.4% of revenue deployed · 64.9% of spending went to programs
  • Governance: 28 of 28 board members independent · 5 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $79.2M in reported program spending
  • Leadership: top reported pay $128K · 34 people listed
  • Highest-paid contractors: 5 contractors listed · $7.2M reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 6 filed schedules · includes related organizations
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 5 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • High — Sustainability: Operating margin scored 15/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 42/100.