Comite Olimpico de Puerto Rico Inc Old Naval Base San Juan

Analysis

Comite Olimpico de Puerto Rico Inc Old Naval Base San Juan is a registered charity in United States, based in San Juan, PR. It received its IRS tax-exemption ruling in September 1990, 36 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3).

In the financial year ending December 2023, Comite Olimpico de Puerto Rico Inc Old Naval Base San Juan reported income of $12.6m and spending of $17.7m, spending 141% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.8m to $12.6m (+117%), an average of +21% a year. The sharpest change came in the year to December 2022, when income rose by 140%. Over the whole period it spent 161% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Comite Olimpico de Puerto Rico Inc Old Naval Base San Juan sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 93rd percentile within PR. Charities of a similar size with the same main cause include The Society for Cariovascular Angiography and Interventions ($12.6m), San Antonio Christian Schools ($12.6m) and Far Brook School ($12.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $102k (0.6% of expenses). Other salaries and wages came to $846k. At year end it held assets of $8.6m against liabilities of $769k, net assets of $7.9m. It reported 30 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.