El Corredor Tecno Economico de Puerto Rico Y El Caribe

Analysis

El Corredor Tecno Economico de Puerto Rico Y El Caribe is a registered charity in United States, based in Mayaguez, PR. It received its IRS tax-exemption ruling in September 2006, 20 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, El Corredor Tecno Economico de Puerto Rico Y El Caribe reported income of $758k and spending of $756k, spending 100% of its income. Across the 3 years on record, from June 2021 to June 2023, income grew from $86k to $758k (+782%), an average of +197% a year. The sharpest change came in the year to June 2022, when income rose by 254%. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, El Corredor Tecno Economico de Puerto Rico Y El Caribe sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 65th percentile within PR. Charities of a similar size with the same main cause include Love Stanislaus County Inc ($758k), Pittsfield Community Cable Broadcasting Inc ($759k) and Spark ($758k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% of the total. Compensation of current officers, directors and key employees was $86k (11% of expenses). Other salaries and wages came to $268k. At year end it held assets of $1.4m against liabilities of $532k, net assets of $903k. It reported 15 employees.