Elite Educational Group Corp FY2021 filing

Bayamon, PRUnknown exempt organizationEIN 66-0799136Revenue $903K in FY2021

On file with the IRSUrb Sierra Bayamon 18 Calle 22 · Bayamon, PR

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Provide Educational services

100¢ of each $1 spent went to programs.
$98K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 4
filings with a surplus
Average deficit $67K a year · 7% of revenue · last 4 filings
Concern: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$98K
to officers and key staff · 10% of spending
Looks good: pay to officers and key staff is 10% of spending; 15% or less.
Pt VII · Sec A
1 mo
of spending, in cash
Fine: 1.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$282K
87% of total assets
Concern: liabilities are 87% of assets; over 80%.
Pt X · Ln 26
Independent board members
1
of 5 voting members
Worth a look: 1 of 5 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$903K
Spent
$952K
To programs
100%
Net assets
$42K
By yearFY2021–FY2024
Revenue
$903K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$903K
FY2022$1.1M
FY2023$863K
FY2024$919K
Expenses
$952K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$952K
FY2022$994K
FY2023$1.1M
FY2024$997K
Net assets
$42K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$42K
FY2022$65K
FY2023$22K
FY2024−$100K

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $952K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990; $98K paid to officers and key staff.

Part VII, Section A · reportable compensation
$28,800Pt VII · Sec A
Vice-President
$24,000Pt VII · Sec A
$24,000Pt VII · Sec A
$21,504Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2024FY2023FY2022FY2021
Beatriz Rodriguez Marrero$15,900$15,900$28,800$28,800
Yaritza Rivera Cosme$24,300$24,300$24,000$24,000
Jesus M Rivera Rivera$24,300$24,300$22,700—
Jesus X Rivera Rivera———$24,000
Sandra M Rivera Rivera$21,804$21,804$21,504$21,504

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.

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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

Elite Educational Group Corp is a nonprofit organization based in Bayamon, PR.

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Provided by the organization

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2 programs · $952K · in their own filed words · FY2021
01

New Earth Music Academy (NEMA)-(Elite Educational Group, Corp), is a non-profit institution founded since 2007 by pastors and presidents Jesus Tito and Yaritza Rivera. The school is governed by an Administrative Board composed of people representing our educational community and is certified as a Church-School by the Department of State…

$951Kprogram expense
02

Donative

$1Kprogram expense

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$903K
Ln 12
Fees for servicesLn 2g$903K
Other incomeLn 4–11$52
Money outPt IX
$952K
Ln 25
Programscol B$952K
Owns and owesPt X
$42K
net assets · Ln 32
Cash and savingsLn 1–2$82K
Total assetsLn 16$324K
LiabilitiesLn 26$282K
PeoplePt VI, VII
4
listed · VII A
PaidVII A4
Voting boardVI 1a5
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$903K
Other incomeLn 4–11$52
Total revenueLn 12$903K
Assets in detailPt X, end of year
CashLn 1$82K
Cash and savings togetherLn 1–2$82K
Land, buildings, equipmentLn 10c$175K
Other assetsLn 15$58K
Total assetsLn 16$324K
LiabilitiesLn 26$282K
Net assetsLn 32$42K
OperationsPt I, VI
EmployeesI 540
VolunteersI 610
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$163K$82K
Land, buildings, equipmentLn 10c$112K$175K
Total assetsLn 16$315K$324K
LiabilitiesLn 26$351K$282K
Net assetsLn 32−$36K$42K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$98K$98K
Pay of current officers, directors and key staffLn 5$0$0$0
Pay of disqualified personsLn 6$0$0$0
Other salaries and wagesLn 7$360K$360K$0$0
Pension plan contributionsLn 8$0$0$0
Other employee benefitsLn 9$0$0$0
Payroll taxesLn 10$35K$35K$0$0
Management feesLn 11a$0$0$0
Legal feesLn 11b$0$0$0
Accounting feesLn 11c$8K$8K$0$0
Lobbying feesLn 11d$0$0$0
Investment management feesLn 11f$0$0$0
Other fees for servicesLn 11g$125K$125K$0$0
Advertising and promotionLn 12$8K$8K$0$0
Office expensesLn 13$5K$5K$0$0
Information technologyLn 14$0$0$0
RoyaltiesLn 15$0$0$0
OccupancyLn 16$46K$46K$0$0
TravelLn 17$0$0$0
Travel and entertainment for public officialsLn 18$0$0$0
Conferences, conventions and meetingsLn 19$0$0$0
InterestLn 20$12K$12K$0$0
Payments to affiliatesLn 21$0$0$0
Depreciation, depletion and amortizationLn 22$15K$15K$0$0
InsuranceLn 23$43K$43K$0$0
Other expenses (24a–d)Ln 24$2K$2K$0$0
All other expensesLn 24e$196K$196K$0$0
Total functional expensesLn 25$952K$952K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $919K$997K−$78K−$100K 990 PDF
FY2023 $863K$1.1M−$221K$22K 990 PDF
FY2022 $1.1M$994K$79K$65K 990 PDF
FY2021 Viewing $903K$952K−$49K$42K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $902,955 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $847,642$0
I-9 Program service revenue$902,903
I-10 Investment income$0
I-11 Other revenue$52
I-12 Total revenuePrior year $847,642$902,955
I-13 Grants and similar amounts paidPrior year $808,192$0
I-14 Benefits paid to members$98,304
I-15 Salaries and benefits$395,099
I-16a Professional fundraising fees$0
I-17 Other expenses$458,973
I-18 Total expensesPrior year $808,192$952,376
I-19 Revenue less expensesPrior year $39,450−$49,421
Part VI · Governance 1 of 5 board members independent, 5 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members1
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $902,955 across 2 lines filed
Lines not itemized here account for $902,955 of total revenue; see the IRS return.
VIII-1h Total contributions, gifts and grants$0
VIII-12 Total revenueRelated to mission $902,955 · Unrelated business $0 · Excluded from tax $0$902,955
Part IX · Statement of functional expenses $952,376 across 27 lines filed
IX-4 Benefits paid to or for membersPrograms $98,304$98,304
IX-5 Pay of current officers, directors and key staffManagement $0 · Fundraising $0$0
IX-6 Pay of disqualified personsManagement $0 · Fundraising $0$0
IX-7 Other salaries and wagesPrograms $360,036 · Management $0 · Fundraising $0$360,036
IX-8 Pension plan contributionsManagement $0 · Fundraising $0$0
IX-9 Other employee benefitsManagement $0 · Fundraising $0$0
IX-10 Payroll taxesPrograms $35,063 · Management $0 · Fundraising $0$35,063
IX-11a Management feesManagement $0 · Fundraising $0$0
IX-11b Legal feesManagement $0 · Fundraising $0$0
IX-11c Accounting feesPrograms $8,300 · Management $0 · Fundraising $0$8,300
IX-11d Lobbying feesManagement $0 · Fundraising $0$0
IX-11f Investment management feesManagement $0 · Fundraising $0$0
IX-11g Other fees for servicesPrograms $125,143 · Management $0 · Fundraising $0$125,143
IX-12 Advertising and promotionPrograms $7,938 · Management $0 · Fundraising $0$7,938
IX-13 Office expensesPrograms $4,574 · Management $0 · Fundraising $0$4,574
IX-14 Information technologyManagement $0 · Fundraising $0$0
IX-15 RoyaltiesManagement $0 · Fundraising $0$0
IX-16 OccupancyPrograms $46,120 · Management $0 · Fundraising $0$46,120
IX-17 TravelManagement $0 · Fundraising $0$0
IX-18 Travel and entertainment for public officialsManagement $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsManagement $0 · Fundraising $0$0
IX-20 InterestPrograms $11,603 · Management $0 · Fundraising $0$11,603
IX-21 Payments to affiliatesManagement $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms $14,935 · Management $0 · Fundraising $0$14,935
IX-23 InsurancePrograms $42,827 · Management $0 · Fundraising $0$42,827
IX-24 Other expenses (24a–d)Programs $1,788 · Management $0 · Fundraising $0$1,788
IX-24e All other expensesPrograms $195,745 · Management $0 · Fundraising $0$195,745
IX-25 Total functional expensesPrograms $952,376 · Management $0 · Fundraising $0$952,376
Part X · Balance sheet $323,522 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $163,099$81,959
X-3 Pledges and grants receivableStart of year $5,938$8,991
X-10c Land, buildings and equipment, netStart of year $112,462$174,941
X-15 Other assetsStart of year $33,600$57,631
X-16 Total assetsStart of year $315,099$323,522
X-17 Accounts payable and accrued expensesStart of year $19,410$6,034
X-25 Other liabilitiesStart of year $19,036$13,833
X-26 Total liabilitiesStart of year $350,829$281,811
X-32 Total net assets or fund balancesStart of year −$35,730$41,711
X-33 Total liabilities and net assetsStart of year $315,099$323,522
Part XI · Reconciliation of net assets $41,711 net assets at year end
XI-1 Total revenue$902,955
XI-2 Total expenses$952,376
XI-3 Revenue less expenses−$49,421
XI-4 Net assets at start of year−$35,730
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$126,862
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$41,711

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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