Nonprofit · EIN 13-3411787
PROMESA FOUNDATION INC
Tax-exempt · BRONX, NY 10457
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $2,929,456 | $2,401,050 | $528,406 | $28,897,630 | $22,363,226 | $6,534,404 |
| December 31, 2023 | 990 | $3,174,360 | $3,214,180 | -$39,820 | $28,143,138 | $22,137,140 | $6,005,998 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $5,900
- Program service revenue
- $2,424,923
- Investment income
- $90,153
- Net income from sales of inventory
- $35,771
- Other revenue
- $408,480
Expenses
- Grants and similar amounts paid
- $45,880
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $25,421
- Accounting fees
- $37,562
- Occupancy
- $430,932
- Travel
- $11,784
- Depreciation
- $594,628
- Program services (functional)
- $2,183,233
- Management and general (functional)
- $217,817
Balance sheet and other
- Total assets, start of year
- $28,143,138
- Total assets, end of year
- $28,897,630
- Total liabilities, end of year
- $22,363,226
- Net assets, end of year
- $6,534,404
- Land, buildings and equipment
- $22,368,563
- Publicly traded securities
- $1,217
- Net assets without donor restrictions
- $6,266,755
- Net assets with donor restrictions
- $267,649
- Gross receipts
- $3,126,431
- Employees
- 0
- Volunteers
- 4
- Year formed
- 1985
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| RAUL RUSSI | PRESIDENT Officer | 0 | $0 | $896,597 | $101,830 |
| Lymaris Albors | Chief Executive Officer Officer | 0 | $0 | $836,684 | $56,068 |
| JOSE A RODRIGUEZ | Chief legal officer/Exec. VP Officer | 0 | $0 | $562,331 | $30,262 |
| Vicky Gatell | chief financial officer Officer | 0 | $0 | $442,213 | $46,781 |
| Gilbert Hernandez | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| FEDERICO PEREZ | SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
| Aileen Perez | Treasurer Trustee or director, Officer | 1 | $0 | $0 | $0 |
| ARNIE SEGARRA | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 8 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| RAUL RUSSI | PRESIDENT Officer | 0 | $0 | $909,372 | $70,634 |
| Lymaris Albors | Chief Executive Officer Officer | 0 | $0 | $803,886 | $39,079 |
| JOSE A RODRIGUEZ | Chief legal officer/Exec. VP Officer | 0 | $0 | $602,553 | $37,084 |
| Vicky Gatell | chief financial officer Officer | 0 | $0 | $454,869 | $42,707 |
| Gilbert Hernandez | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| FEDERICO PEREZ | SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
| Aileen Perez | Treasurer Trustee or director, Officer | 1 | $0 | $0 | $0 |
| ARNIE SEGARRA | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 311 E 175TH ST, BRONX, NY 10457-5859
- In care of
- % VICKY GATELL
- Principal officer (990 for 2024)
- RAUL RUSSI, 311 East 175th Street, Bronx, NY 10457
- Signed the 990
- RAUL RUSSI, PRESIDENT
- Phone
- (718) 991-4900
- Website
- WWW.ACACIANETWORK.ORG
- Return prepared by
- WithumSmithBrown PC
Mission
PROMESA FOUNDATION, INC. WAS CREATED AS A DEVELOPMENT ARM FOR THE ENTIRE ACACIA NETWORK ORGANIZATION. THE FOUNDATION WORKS TO RAISE FUNDS FOR ACACIA NETWORK'S MANY OPERATING PROGRAMS. THE GOAL OF THE FOUNDATION IS TO DEVELOP STREAMS OF FUNDING AND PARTNERSHIPS WITH THE CORPORATE SECTOR TO SUPPORT AND EXPAND ITS OPERATIONS. THE MUTUAL PURPOSE OF ACACIA NETWORK IS TO BE A LEADER IN THE HEALTH AND HUMAN SERVICES ARENA BY PROVIDING AN ARRAY OF SERVICES IN HEALTH, EDUCATION, EMPLOYMENT, ECONOMIC AND COMMUNITY DEVELOPMENT, AND HOUSING ACTIVITIES.
Program accomplishments
- TO PROVIDE THE ACACIA NETWORK WITH FISCAL AND ADMINISTRATIVE OFFICE SPACE TO INCREASE TREATMENT AREA AVAILABLE AND CLIENTS SERVICED.Expenses $2,183,233 · revenue $2,424,923
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 13-3411787
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 1987
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Mental health and crisis intervention (F22I)
- Assets (IRS master file)
- $28,897,630
- Income (IRS master file)
- $3,126,431
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $2,929,456 | $2,401,050 | $28,897,630 | XML |
| 990 | December 2023 | $3,174,360 | $3,214,180 | $28,143,138 | XML |
| 990 | December 2022 | $3,501,347 | $2,745,519 | $28,348,325 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 13-3411787).
Questions about PROMESA FOUNDATION INC
- What is the EIN of PROMESA FOUNDATION INC?
- The employer identification number (EIN) of PROMESA FOUNDATION INC is 13-3411787.
- Is PROMESA FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1987.
- Are donations to PROMESA FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does PROMESA FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of PROMESA FOUNDATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PROMESA FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of PROMESA FOUNDATION INC?
- The 990 for the year ended December 31, 2024 names RAUL RUSSI.
- Who are the officers and directors of PROMESA FOUNDATION INC?
- The 990 for the year ended December 31, 2024 lists 8 people; 0 received compensation from the organization.
- How much revenue does PROMESA FOUNDATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $2,929,456, expenses of $2,401,050 and total assets of $28,897,630 at year end.
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