Overview
What is Sociedad Espaola De Auxilio Mutuo Y Beneficencia De Puerto Rico?
Sociedad Espaola De Auxilio Mutuo Y Beneficencia De Puerto Rico, also known as the Company, is a nonprofit organization based in Puerto Rico. Previously filing as a 501 (C) (3) organization, it underwent a change in 1992 to continue providing hospital and healthcare services. The new organization reported this change to the Internal Revenue Service (IRS), who confirmed that no new tax exemption application was required. The Company owns the real property and transfers funds for use in a manner consistent with the exemption. They administer a health plan, open to individuals in the community, granting them membership and the right to receive hospital and healthcare services at the Company's facilities. As of the information provided, they employ 18 people.
What are the reviews and ratings of this charity?
Charity Navigator Rating 79% - Three-Star out of Four Star rating
Sociedad Española De Auxilio Mutuo Y Beneficencia De Puerto Rico has achieved a 79% score, indicating a solid performance regarding accountability and finance. The organization scored particularly well for its governance structure, boasting a fully independent board and effective oversight measures. These strengths contribute to the charity's credibility and trustworthiness in managing resources.
The charity's financial management is commendable, with a strong ratio of liabilities to assets and a high level of transparency regarding its conflict of interest policies and document retention practices. However, there is room for improvement, particularly in the allocation of program expenses, where it received a lower score. This suggests that a greater focus could be placed on maximizing funds directed towards programmatic activities.
Overall, the organization demonstrates a reliable commitment to accountability, but stakeholders may want to monitor its efficiency in funding programs to ensure that a higher percentage of donations directly supports its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Sociedad Espaola De Auxilio Mutuo Y Beneficencia De Puerto Rico legitimate?
Sociedad Espaola De Auxilio Mutuo Y Beneficencia De Puerto Rico is a legitimate nonprofit organization registered as a 501(c)(3) entity. Sociedad Espaola De Auxilio Mutuo Y Beneficencia De Puerto Rico submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $909,703
For more financial information, click here
What is the mission statement of Sociedad Espaola De Auxilio Mutuo Y Beneficencia De Puerto Rico?
Sociedad Espaola De Auxilio Mutuo Y Beneficencia De Puerto Rico, formerly a 501 (C) (3) organization, underwent a change in 1992, transitioning into a new nonprofit entity to continue providing hospital and healthcare services. The Internal Revenue Service was informed of this change, and the organization became a controlling affiliate, owning the real property and transferring funds for tax-exempt use. The mission of this organization remains dedicated to offering community members access to healthcare services. It manages a health plan, enabling individuals to become members and receive hospital and healthcare services at designated facilities.
Who is the CEO of Sociedad Espaola De Auxilio Mutuo Y Beneficencia De Puerto Rico?
Jorge L Matta Serrano is the Principal Officer of Sociedad Espaola De Auxilio Mutuo Y Beneficencia De Puerto Rico.
What is the revenue of Sociedad Espaola De Auxilio Mutuo Y Beneficencia De Puerto Rico?
Sociedad Espaola De Auxilio Mutuo Y Beneficencia De Puerto Rico's revenue in 2022 was $41,635,259.
Who are the executives of Sociedad Espaola De Auxilio Mutuo Y Beneficencia De Puerto Rico and what are their salaries?
The average compensation at Sociedad Espaola De Auxilio Mutuo Y Beneficencia De Puerto Rico during 2022 was $50,539. There are 18 employees at Sociedad Espaola De Auxilio Mutuo Y Beneficencia De Puerto Rico.
Here are 28 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Sociedad Espaola De Auxilio Mutuo Y Beneficencia De Puerto Rico?
Sociedad Espaola De Auxilio Mutuo Y Beneficencia De Puerto Rico's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Sociedad Espaola De Auxilio Mutuo Y Beneficencia De Puerto Rico
Sociedad Espaola De Auxilio Mutuo Y Beneficencia De Puerto Rico, also known as The Company, is a nonprofit organization that has been dedicated to providing hospital and healthcare services to the community. As of April 29, 1992, a new nonprofit entity was created to continue this mission, reporting this change to the Internal Revenue Service on August 20, 1992.
The organization became a controlling affiliate, owning the real property and transferring funds for use in a manner consistent with its tax-exempt status. The IRS confirmed that The Company was not required to file a new application for tax exemption as a title holding corporation. In addition to this, The Company administers a health plan, granting community members the opportunity to become members and access hospital and healthcare services at the organization's facilities.
The mission of Sociedad Espaola De Auxilio Mutuo Y Beneficencia De Puerto Rico can be paraphrased as follows: With the creation of a new nonprofit organization on April 29, 1992, The Company continues to provide essential hospital and healthcare services to the community under the tax-exempt status. As a controlling affiliate, it owns the real property and manages funds for the provision of these services. The organization's health plan enables community members to join and receive healthcare services at the facilities.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Sociedad Española de Auxilio Mutuo y Beneficencia de Puerto Rico plays a crucial role in providing accessible healthcare services to the community. Established to continue the legacy of its predecessor organization, it ensures that individuals can become members of a health plan that grants them the right to receive hospital and healthcare services without exclusions.
With a dedicated membership of 24,465 people covered under its health plan, the organization addresses the healthcare needs of a significant portion of the San Juan population. By administering this health plan, it not only enhances the availability of essential healthcare services but also fosters a sense of community and mutual aid among its members. The organization’s operational framework as a controlling affiliate allows it to manage real property and financial resources effectively, ensuring sustained quality care and support for its members.
Overall, the impact of Sociedad Española de Auxilio Mutuo y Beneficencia de Puerto Rico extends beyond healthcare provision; it contributes to the overall well-being and social cohesion within the community by prioritizing health accessibility and fostering a sense of belonging.
This information is meant to be a general summary of Sociedad Espaola De Auxilio Mutuo Y Beneficencia De Puerto Rico. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $376,371
- Program Service Revenue: $40,738,073
- Gross Receipts: $41,635,259
Assets and Liabilities:
- Total Assets: $221,119,442
- Total Liabilities: $75,554,707
- Net Assets: $145,564,735
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBERSHIP DUES
Revenue
$28,059,823
RENT
Revenue
$12,678,250
Organization Details
Founding Year
1901
Phone
(787) 758-2000Principal Officer
Jorge L Matta Serrano
Main Address
PO BOX 191227 RM/STE 191227, SAN JUAN, PR, 009191227
NTEE Category
Code: E220 - Health
If you are a representative of Sociedad Espaola De Auxilio Mutuo Y Beneficencia De Puerto Rico and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.