Corazon Puro FY2023 filing

Tax-deductible

Paterson, NJ501(c)(3)EIN 80-0809161Revenue $697K in FY2023

On file with the IRScorazonpuro.org190 Butler St, 07524-1998 · Paterson, NJTax-exempt since Mar 1946Church — 170(b)(1)(A)(i)

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Equip youth, young adults, and families in vulnerable communities with leadership skills and resources necessary to restore family life and positively transform society.

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
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
4 of 5
filings with a surplus
Average surplus $31K a year · 5% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
51 mo
of spending, in cash
Looks good: 50.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $90K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.3M
80% of total assets
Worth a look: liabilities are 80% of assets; over 65%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$697K
+55% vs prior year
Spent
$642K
To programs
85%
Net assets
$580K
By yearFY2020–FY2024
Revenue
$697K
FY2023▲ +55%
Tap a bar for its year
Revenue by fiscal year
FY2020$345K
FY2021$412K
FY2022$450K
FY2023$697K
FY2024$1.3M
Expenses
$642K
FY2023▲ +47%
Tap a bar for its year
Expenses by fiscal year
FY2020$307K
FY2021$450K
FY2022$436K
FY2023$642K
FY2024$1.2M
Net assets
$580K
FY2023▲ +10%
Tap a bar for its year
Net assets by fiscal year
FY2020$549K
FY2021$511K
FY2022$526K
FY2023$580K
FY2024$722K

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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 ruling in Mar 1946.

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

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $545K Management & general 13% · $85K Fundraising 2% · $12K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation
Secretary (until June 2023)
$0Pt VII · Sec A
Secretary (as of June 2023)
$0Pt VII · Sec A
$0Pt VII · Sec A
President (as of June 2023)
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
President (until June 2023)
$0Pt VII · Sec A
See Corazon Puro executive salaries →

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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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Empowers youth, young adults, and families with skills and resources to restore families and transform society.

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Provided by the organization

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3 programs · $413K · in their own filed words · FY2023
01

Osv

R.E.A.L: in partnership with our sunday visitor institute & the lilly endownment, this work titled "reawaken and educate authentic leaders" (R.E.A.L) will produce enculturated faith and vocational formation materials through printed and online resources in english and spanish for ministers, families, leaders, priests, parishes, and…

$240Kprogram expense
02

General Program

The corazon puro leadership program is at the heart of our organization's efforts to form youth and young adult leaders to become agents of change within their communities. Our objectives are to identify new leaders from vulnerable populations and accompany them through ongoing formation events and community.

$144Kprogram expense
03

Retreats

In addition to the leadership program, corazon puro provides advanced leadership through a series of retreats. These retreats help the participants understand more about their dignity and receive healing to prepare them to go back to their communities and serve in a better capacity.

$29Kprogram 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 · FY2024
Total grants receivedfrom 2 funders$90K
Grants paid · 9 grants · $162K · 2020–2024
Unitemized GrantFY2024$27,022
Christ Cathedral ParishCA · FY2024$5,619
Unitemized GrantFY2023$36,819
Unitemized GrantFY2022$23,667
Unitemized GrantFY2021$25,542
Unitemized GrantFY2020$13,448

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$697K
Ln 12
Gifts and grantsLn 1h$654K
Fees for servicesLn 2g$43K
Investment incomeLn 3$46
Money outPt IX
$642K
Ln 25
Programscol B$545K
Managementcol C$85K
Fundraisingcol D$12K
Owns and owesPt X
$580K
net assets · Ln 32
Cash and savingsLn 1–2$2.7M
Total assetsLn 16$2.9M
LiabilitiesLn 26$2.3M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$654K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$43K
Investment incomeLn 3$46
Total revenueLn 12$697K
Assets in detailPt X, end of year
CashLn 1$2.6M
SavingsLn 2$124K
Cash and savings togetherLn 1–2$2.7M
Land, buildings, equipmentLn 10c$206K
Total assetsLn 16$2.9M
LiabilitiesLn 26$2.3M
Net assetsLn 32$580K
OperationsPt I, VI
EmployeesI 56
VolunteersI 670
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$436K$2.7M
Land, buildings, equipmentLn 10c$219K$206K
Total assetsLn 16$666K$2.9M
LiabilitiesLn 26$140K$2.3M
Net assetsLn 32$526K$580K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$6K$6K
Grants to domestic individualsLn 2$37K$37K
Grants and assistance to foreign recipientsLn 3$6K$6K
Pay of current officers, directors and key staffLn 5$9K$8K$1K$440
Other salaries and wagesLn 7$118K$99K$13K$6K
Other employee benefitsLn 9$30K$12K$17K$396
Payroll taxesLn 10$13K$11K$1K$671
Legal feesLn 11b$5K$113$5K
Accounting feesLn 11c$16K$16K
Lobbying feesLn 11d$0
Other fees for servicesLn 11g$187K$185K$2K−$54
Office expensesLn 13$33K$21K$9K$4K
Information technologyLn 14$18K$16K$2K$379
OccupancyLn 16$24K$22K$2K$49
TravelLn 17$42K$42K$64−$5
Conferences, conventions and meetingsLn 19$27K$27K
InterestLn 20$3K$3K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$12K$10K$2K
InsuranceLn 23$9K$4K$6K
Other expenses (24a–d)Ln 24$46K$39K$5K$1K
Total functional expensesLn 25$642K$545K$85K$12K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.3M$1.2M$87K$722K 990 PDF
FY2023 Viewing $697K$642K$55K$580K 990 PDF
FY2022 $450K$436K$14K$526K 990 PDF
FY2021 $412K$450K−$38K$511K 990 PDF
FY2020 $345K$307K$37K$549K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $696,848 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $383,281$653,838
I-9 Program service revenuePrior year $60,014$43,366
I-10 Investment incomePrior year $36$46
I-11 Other revenuePrior year $6,966−$402
I-12 Total revenuePrior year $450,297$696,848
I-13 Grants and similar amounts paidPrior year $52,935$48,699
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $168,298$170,361
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $214,666$422,972
I-18 Total expensesPrior year $435,899$642,032
I-19 Revenue less expensesPrior year $14,398$54,816
Part VI · Governance 6 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $696,848 across 12 lines filed
Lines not itemized here account for −$402 of total revenue; see the IRS return.
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$653,838
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$653,838
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $43,366 · Unrelated business $0 · Excluded from tax $0$43,366
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $46$46
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $39,067 · Unrelated business $3,897 · Excluded from tax $46$696,848
Part IX · Statement of functional expenses $642,032 across 21 lines filed
IX-1 Grants to domestic organizationsPrograms $6,380$6,380
IX-2 Grants to domestic individualsPrograms $36,819$36,819
IX-3 Grants and assistance to foreign recipientsPrograms $5,500$5,500
IX-5 Pay of current officers, directors and key staffPrograms $7,916 · Management $1,071 · Fundraising $440$9,427
IX-7 Other salaries and wagesPrograms $98,938 · Management $13,388 · Fundraising $5,502$117,828
IX-9 Other employee benefitsPrograms $12,302 · Management $17,029 · Fundraising $396$29,727
IX-10 Payroll taxesPrograms $11,346 · Management $1,362 · Fundraising $671$13,379
IX-11b Legal feesPrograms $113 · Management $5,000$5,113
IX-11c Accounting feesManagement $15,585$15,585
IX-11d Lobbying fees$0
IX-11g Other fees for servicesPrograms $185,308 · Management $2,241 · Fundraising −$54$187,495
IX-13 Office expensesPrograms $20,646 · Management $8,832 · Fundraising $3,632$33,110
IX-14 Information technologyPrograms $15,673 · Management $2,379 · Fundraising $379$18,431
IX-16 OccupancyPrograms $22,100 · Management $2,261 · Fundraising $49$24,410
IX-17 TravelPrograms $42,153 · Management $64 · Fundraising −$5$42,212
IX-19 Conferences, conventions and meetingsPrograms $26,673$26,673
IX-20 InterestManagement $2,703$2,703
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $10,449 · Management $1,765$12,214
IX-23 InsurancePrograms $3,764 · Management $5,672$9,436
IX-24 Other expenses (24a–d)Programs $39,019 · Management $5,321 · Fundraising $1,250$45,590
IX-25 Total functional expensesPrograms $545,099 · Management $84,673 · Fundraising $12,260$642,032
Part X · Balance sheet $2,916,899 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $311,757$2,580,981
X-2 Savings and temporary cash investmentsStart of year $124,361$123,886
X-8 Inventories for sale or useStart of year $1,814$3,609
X-9 Prepaid expenses and deferred chargesStart of year $7,082$2,341
X-10c Land, buildings and equipment, netStart of year $219,220$206,082
X-16 Total assetsStart of year $665,562$2,916,899
X-17 Accounts payable and accrued expensesStart of year $19,513$15,891
X-19 Deferred revenue$2,205,562
X-24 Unsecured notes and loans payableStart of year $120,368$115,871
X-26 Total liabilitiesStart of year $139,881$2,337,324
X-27 Net assets without donor restrictionsStart of year $525,681$579,575
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $525,681$579,575
X-33 Total liabilities and net assetsStart of year $665,562$2,916,899
Part XI · Reconciliation of net assets $579,575 net assets at year end
XI-1 Total revenue$696,848
XI-2 Total expenses$642,032
XI-3 Revenue less expenses$54,816
XI-4 Net assets at start of year$525,681
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−$922
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$579,575

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

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