Atlantic University INC FY2023 filing

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Provide post-secondary education of excellence.

Form 990 Part I, line 1, FY2023. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 66-0404491) · Dispute this line
501(c)(3) charity; gifts are tax-deductible.
74¢ of each $1 spent went to programs.
$625K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
The latest return is for FY2025, 1 tax year back.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $896K a year · 7% of revenue · last 6 filings
A surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
74%
of spending
74% of spending went to programs.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$625K
to officers and key staff · 5% of spending
Pay to officers and key staff is 5% of spending.
Part VII, Section A
3.9 mo
of spending, in cash
3.9 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $7K
1 funder names it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$4.3M
16% of total assets
Liabilities are 16% of assets.
Pt X · Ln 26
Independent board members
9
of 9 voting members
9 of 9 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$15.5M
-0.6% vs prior year
Spent
$13.4M
To programs
74%
Net assets
$22.1M
By yearFY2020–FY2025
Revenue
$15.5M
FY2023▼ -0.6%
Tap a bar for its year
Revenue by fiscal year
FY2020$11.4M
FY2021$13.7M
FY2022$15.6M
FY2023$15.5M
FY2024$13.0M
FY2025$12.3M
Expenses
$13.4M
FY2023▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$10.2M
FY2021$10.6M
FY2022$12.7M
FY2023$13.4M
FY2024$15.0M
FY2025$14.2M
Net assets
$22.1M
FY2023▲ +9%
Tap a bar for its year
Net assets by fiscal year
FY2020$14.3M
FY2021$17.4M
FY2022$20.2M
FY2023$22.1M
FY2024$20.0M
FY2025$18.1M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Exemption reinstated (2010-12-15). Per the IRS revocation list. Latest filing on record: FY2025. IRS ruling in Nov 2018.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $9.9M Management & general 26% · $3.5M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

11 people listed on the 990; $625K paid to officers and key staff (Part VII, Section A).

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$186,967Pt VII · Sec A
$177,062Pt VII · Sec A
$137,215Pt VII · Sec A
$123,762Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Ramon C Barquin Torres’s $327K as President of is at the 70th percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Ramon C Barquin Torres$327,475$261,650————
Teresa De Dios———$177,062$262,284$262,284
Heriberto M Martinez———$186,967$226,200$217,200
Heriberto J Martinez————$197,200$197,200
Heriberto Martinez De Dios——$186,967———
Frances Grau———$123,762$183,300$183,300
Teresa De Dios Unanue——$177,062———
Zayira Jordan Conde$153,677$58,015————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Atlantic University INC executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers excellent post-secondary education opportunities.

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1 program · $9.9M · in their own filed words · FY2022
01

Provide post-secundary education of excellence as leaders in science and digital arts, contributing to the integral development of our students, which allows them to perform, sucessfully and contribute to there country.

Form 990 Part III, line 4, FY2022. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 66-0404491) · Dispute this line
$9.9Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2020
Total grants receivedfrom 1 funder$7K
Grants paid · 9 grants · $1.7M · 2020–2024
Unitemized GrantFY2024$164,059
Unitemized GrantFY2023$196,419
Unitemized GrantFY2022$316,328
Unitemized GrantFY2022$165,871
Unitemized GrantFY2021$372,886
Unitemized GrantFY2021$324,065
Unitemized GrantFY2021$1,851
Unitemized GrantFY2020$183,614
Unitemized GrantFY2020$16,677

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Jun 2023 · $12.2M federal money spent
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$6.7M
Education Stabilization FundDepartment of Education · ALN 84.425 · Direct$2.9M
Higher Education_institutional AidDepartment of Education · ALN 84.031 · Direct$1.7M
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$598K
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$143K

Plus 1 smaller program.

The auditor reported 5 findings: a weakness in money controls.

Year ending Jun 2022 · $34.9M federal money spent
Education Stabilization FundDepartment of Education · ALN 84.425 · Direct$18.0M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$12.9M
Higher Education_institutional AidDepartment of Education · ALN 84.031 · Direct$2.2M
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$1.3M
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$374K

Plus 1 smaller program.

The auditor reported 14 findings: a material weakness in money controls, questioned costs.

Year ending Jun 2021 · $13.0M federal money spent
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$6.0M
Education Stabilization FundDepartment of Education · ALN 84.425 · Direct$4.3M
Higher Education_institutional AidDepartment of Education · ALN 84.031 · Direct$1.7M
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$724K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$113K

Plus 2 smaller programs.

The auditor reported no findings.

Year ending Jun 2020 · $9.9M federal money spent
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$6.1M
Education Stabilization FundDepartment of Education · ALN 84.425 · Direct$1.7M
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$1.1M
Higher Education_institutional AidDepartment of Education · ALN 84.031 · Direct$834K
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$96K

Plus 1 smaller program.

The auditor reported no findings.

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$15.5M
Ln 12
Fees for servicesLn 2g$9.8M
Gifts and grantsLn 1h$5.4M
Other incomeLn 4–11$312K
Money outPt IX
$13.4M
Ln 25
Programscol B$9.9M
Managementcol C$3.5M
Owns and owesPt X
$22.1M
net assets · Ln 32
Cash and savingsLn 1–2$4.4M
Total assetsLn 16$26.4M
LiabilitiesLn 26$4.3M
PeoplePt VI, VII
11
listed · VII A
PaidVII A4
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.4M
Government grantsLn 1e$5.4M
Fees for servicesLn 2g$9.8M
Investment incomeLn 3$19K
Other incomeLn 4–11$312K
Total revenueLn 12$15.5M
Assets in detailPt X, end of year
CashLn 1$4.4M
Cash and savings togetherLn 1–2$4.4M
Accounts receivableLn 4$467K
Prepaid expenses and deferred chargesLn 9$733K
Land, buildings, equipmentLn 10c$19.7M
Other assetsLn 15$1.1M
Total assetsLn 16$26.4M
LiabilitiesLn 26$4.3M
Net assetsLn 32$22.1M
OperationsPt I, VI
EmployeesI 5187
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$3.3M$4.4M
Land, buildings, equipmentLn 10c$18.6M$19.7M
Total assetsLn 16$23.1M$26.4M
LiabilitiesLn 26$2.8M$4.3M
Net assetsLn 32$20.2M$22.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$482K$482K
Pay of officers and key staff (Part IX, line 5)Ln 5$294K$294K
Pay of disqualified personsLn 6$625K$625K
Other salaries and wagesLn 7$3.5M$3.0M$495K
Other employee benefitsLn 9$202K$88K$114K
Payroll taxesLn 10$569K$500K$69K
Other fees for servicesLn 11g$3.3M$2.2M$1.1M
Advertising and promotionLn 12$353K$353K
Office expensesLn 13$27K$19K$8K
Information technologyLn 14$374K$268K$106K
TravelLn 17$260$260
InterestLn 20$205K$145K$59K
Depreciation, depletion and amortizationLn 22$1.5M$1.1M$443K
InsuranceLn 23$178K$178K
Other expenses (24a–d)Ln 24$1.3M$1.0M$302K
All other expensesLn 24e$367K$120K$247K
Total functional expensesLn 25$13.4M$9.9M$3.5M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Mar 2, 2026 $12.3M$14.2M−$1.9M$18.1M 990 PDF
FY2024Filed with the IRS May 14, 2025 $13.0M$15.0M−$2.1M$20.0M 990 PDF
FY2023 ViewingFiled with the IRS May 15, 2024 $15.5M$13.4M$2.1M$22.1M 990 PDF
FY2022Filed with the IRS May 15, 2023 $15.6M$12.7M$2.9M$20.2M 990 PDF
FY2021Filed with the IRS May 12, 2022 $13.7M$10.6M$3.1M$17.4M 990 PDF
FY2020Filed with the IRS Apr 22, 2021 $11.4M$10.2M$1.2M$14.3M 990 PDF

Schedules filed Part IV

A · Public support I · Grants J · Pay O · Explanations
See the full FY2023 990
Part I · Summary $15,494,181 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $6,085,974$5,351,318
I-9 Program service revenuePrior year $9,397,449$9,811,103
I-10 Investment incomePrior year $11,135$19,354
I-11 Other revenuePrior year $93,034$312,406
I-12 Total revenuePrior year $15,587,592$15,494,181
I-13 Grants and similar amounts paidPrior year $698,802$482,199
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $5,197,272$5,231,394
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $6,801,310$7,665,961
I-18 Total expensesPrior year $12,697,384$13,379,554
I-19 Revenue less expensesPrior year $2,890,208$2,114,627
Part VI · Governance 9 of 9 board members independent, 4 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $15,494,181 across 6 lines filed
VIII-1e Government grants$5,351,318
VIII-1h Total contributions, gifts and grants$5,351,318
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $9,811,103$9,811,103
VIII-3 Investment incomeExcluded from tax $19,354$19,354
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $312,406$312,406
VIII-12 Total revenueRelated to mission $10,123,509 · Excluded from tax $19,354$15,494,181
Part IX · Statement of functional expenses $13,379,554 across 16 lines filed
IX-2 Grants to domestic individualsPrograms $482,199$482,199
IX-5 Pay of officers and key staff (Part IX, line 5)Programs $294,217$294,217
IX-6 Pay of disqualified personsPrograms $625,006$625,006
IX-7 Other salaries and wagesPrograms $3,045,928 · Management $495,064$3,540,992
IX-9 Other employee benefitsPrograms $88,485 · Management $113,928$202,413
IX-10 Payroll taxesPrograms $499,592 · Management $69,174$568,766
IX-11g Other fees for servicesPrograms $2,184,420 · Management $1,125,186$3,309,606
IX-12 Advertising and promotionManagement $352,940$352,940
IX-13 Office expensesPrograms $19,273 · Management $7,834$27,107
IX-14 Information technologyPrograms $267,533 · Management $106,022$373,555
IX-17 TravelManagement $260$260
IX-20 InterestPrograms $145,442 · Management $59,118$204,560
IX-22 Depreciation, depletion and amortizationPrograms $1,089,183 · Management $442,720$1,531,903
IX-23 InsuranceManagement $178,485$178,485
IX-24 Other expenses (24a–d)Programs $1,018,620 · Management $301,768$1,320,388
IX-24e All other expensesPrograms $120,428 · Management $246,729$367,157
IX-25 Total functional expensesPrograms $9,880,326 · Management $3,499,228 · Fundraising $0$13,379,554
Part X · Balance sheet $26,372,374 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $3,313,413$4,371,934
X-4 Accounts receivableStart of year $527,009$467,377
X-9 Prepaid expenses and deferred chargesStart of year $500,607$733,271
X-10c Land, buildings and equipment, netStart of year $18,583,891$19,732,235
X-15 Other assetsStart of year $137,163$1,067,557
X-16 Total assetsStart of year $23,062,083$26,372,374
X-17 Accounts payable and accrued expensesStart of year $373,088$1,688,397
X-19 Deferred revenueStart of year $393,676$382,450
X-24 Unsecured notes and loans payableStart of year $2,052,463$2,246,272
X-26 Total liabilitiesStart of year $2,819,227$4,317,119
X-31 Retained earnings or endowmentStart of year $20,242,856$22,055,255
X-32 Total net assets or fund balancesStart of year $20,242,856$22,055,255
X-33 Total liabilities and net assetsStart of year $23,062,083$26,372,374
Part XI · Reconciliation of net assets $22,055,255 net assets at year end
XI-1 Total revenue$15,494,181
XI-2 Total expenses$13,379,554
XI-3 Revenue less expenses$2,114,627
XI-4 Net assets at start of year$20,242,856
XI-9 Other changes in net assets−$302,228
XI-10 Net assets at end of year$22,055,255

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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