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Nonprofit · EIN 66-0372757

ASOCIACION FOMENTO EDUCATIVO INC

Tax-exempt · GUAYNABO, PR 00966

Financials

$1.1M$1.2M2023$799K$914K2024
Revenue Expenses · by fiscal year end
Financials of ASOCIACION FOMENTO EDUCATIVO INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$799,164$913,905-$114,741$8,974,785$751,647$8,223,138
December 31, 2023990$1,139,982$1,225,578-$85,596$9,263,828$925,949$8,337,879
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$622,927
Program service revenue
$175,830
Investment income
$0
Other revenue
$407

Expenses

Grants and similar amounts paid
$140,483
Compensation of officers, directors and key employees
$0
Other salaries and wages
$77,000
Salaries, compensation and benefits (total)
$83,868
Professional fundraising fees
$0
Depreciation
$312,902
Program services (functional)
$869,073
Management and general (functional)
$44,832

Balance sheet and other

Total assets, start of year
$9,263,828
Total assets, end of year
$8,974,785
Total liabilities, end of year
$751,647
Net assets, end of year
$8,223,138
Land, buildings and equipment
$7,622,698
Net assets without donor restrictions
$8,223,138
Gross receipts
$799,164
Employees
5
Volunteers
0
Year formed
1978
State of legal domicile
PR

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.

NameTitleHours / weekCompensation
Luis J TorresExecutive Director-Treasurer
Trustee or director
30$0
Manuel DiazPresident
Trustee or director, Officer
2$0
Dionisio TrigoVicepresident
Trustee or director, Officer
2$0
Sigfrido FernandezSubsecretary
Trustee or director, Officer
4$0
Robert HunterVocal
Trustee or director
0$0
Raul AriasVocal
Trustee or director
0$0
Erwin MaldonadoSubtreasurer
Trustee or director, Officer
1$0
Angel OrtizVocal
Trustee or director
1$0
Ferdinand SanchezVocal
Trustee or director
1$0
Jos Molina CachoSecretary
Trustee or director, Officer
1$0
Carlos CerveraVocal
Trustee or director
10$0
Estebao FachiniVocal
Trustee or director
1$0
990 for the year ended December 31, 2023: 12 people
NameTitleHours / weekCompensation
Carlos CerveraExecutive Director
Trustee or director, Key employee
30$36,000
Manuel DiazPresident
Trustee or director, Officer
2$0
Dionisio TrigoVicepresident
Trustee or director, Officer
2$0
Sigfrido FernandezSubsecretary
Trustee or director, Officer
4$0
Robert HunterVocal
Trustee or director
0$0
Raul AriasVocal
Trustee or director
0$0
Erwin MaldonadoSubtreasurer
Trustee or director, Officer
1$0
Angel OrtizVocal
Trustee or director
1$0
Ferdinand SanchezVocal
Trustee or director
1$0
Jos Molina CachoSecretary
Trustee or director, Officer
1$0
Luis Torres RodriguezVocal
Trustee or director
10$0
Estebao FachiniVocal
Trustee or director
1$0

Address and contacts

Address (IRS master file)
A35 CALLE A, GUAYNABO, PR 00966-2211
In care of
% LUIS TORRES
Mailing address (990-N for 2019)
A48 CALLE A, GUAYNABO PR 009662200
Principal officer (990 for 2024)
Luis Torres, A35 CALLE A, Villa Caparra, GUAYNABO, PR 009662211
Principal officer (990-N for 2019)
Luis Torres, A48 CALLE A, GUAYNABO PR 009662200
Signed the 990
Luis Torres, Executive Director
Phone
(787) 241-3623

Mission

AFE HAS AMONG ITS PURPOSES TO FOSTER AND FACILITATE THE DEVELOPMENT OF INDIVIDUALS THROUGH LECTURES AND SEMINARS LEADERSHIP PROGRAMS FOR STUDENTS AND SOCIAL ACTIVITIES FOR THE INDIGENT ETC.

990 for the year ended December 31, 2024

Program accomplishments

  • PUERTORREAL UNIVERSITY RESIDENCE PROVIDES ROOMS AND BOARD IN A FAMILY LIKE ATMOSPHERE TO UNIVERSITY STUDENTS. IT HAS STUDY HALLS MEETING ROOMS AND OFFERS CONFERENCES SEMINARS ETC. IT ALSO HOLDS ACTIVITIES FOR YOUNG PROFESSIONALS TO HELP THEM IN THE TRANSITION FROM COLLEGE TO THE PROFESSIONAL WORLD. SOCIAL HELP ACTIVITIES FOR LOW INCOME PEOPLE.
    Expenses $212,651 · revenue $152,994
  • GUILARTE STUDY CENTER IN GEARED TO PROFESSIONALS AND STUDENTS TO IMPROVE THE ACHIEVEMENTS THROUGH STUDY SKILLS COURSES TUTORING PROGRAMS SEMINARS CONFERENCES ETC.
    Expenses $28,950 · revenue $17,041
  • GUAYMAR IS A FAMILY RESIDENCE FOR PROFESSIONALS WHO PROVIDE COURSES OF ETHICS WORKSHOPS CONFERENCES OF FAMILY LIFE WORK SPIRIT OF SERVICE AND CREATE SOCIAL AND ENVIROMENT AWARENESS.
    Expenses $190,625 · revenue $201,201
  • Crisoles Womens Center
    Expenses $114,825 · revenue $34,531
  • Educational Development Fund
    Expenses $322,022 · grants $140,483 · revenue $393,397

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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
66-0372757
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
1986
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$8,974,785
Income (IRS master file)
$799,164

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$799,164$913,905$8,974,785IRS
990December 2023$1,139,982$1,225,578$9,263,828XML
990December 2022$967,430$1,051,838$9,694,411IRS
990December 2021–––IRS
990December 2020–––IRS
990-N for 2019
Officer: Luis Torres
December 31, 2019≤ $50,000 receipts––e-Postcard

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 66-0372757).

Questions about ASOCIACION FOMENTO EDUCATIVO INC

What is the EIN of ASOCIACION FOMENTO EDUCATIVO INC?
The employer identification number (EIN) of ASOCIACION FOMENTO EDUCATIVO INC is 66-0372757.
Is ASOCIACION FOMENTO EDUCATIVO INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1986.
Are donations to ASOCIACION FOMENTO EDUCATIVO INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does ASOCIACION FOMENTO EDUCATIVO 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 ASOCIACION FOMENTO EDUCATIVO 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 ASOCIACION FOMENTO EDUCATIVO 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 ASOCIACION FOMENTO EDUCATIVO INC?
The 990 for the year ended December 31, 2024 names Luis Torres.
Who are the officers and directors of ASOCIACION FOMENTO EDUCATIVO INC?
The 990 for the year ended December 31, 2024 lists 12 people; 0 received compensation from the organization.
How much revenue does ASOCIACION FOMENTO EDUCATIVO INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $799,164, expenses of $913,905 and total assets of $8,974,785 at year end.

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