Nonprofit · EIN 66-0398333
CORPORACION PARA EL FINANCIAMIENTO EMPRESARIAL DEL COMERCIO Y DE LAS
Tax-exempt · SAN JUAN, PR 00919
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $1,701,706 | $1,503,914 | $197,792 | $7,578,089 | $4,267,904 | $3,310,185 |
| June 30, 2024 | 990 | $1,406,883 | $1,235,244 | $171,639 | $7,224,200 | $4,111,807 | $3,112,393 |
| June 30, 2023 | 990 | $1,152,299 | $984,789 | $167,510 | $6,332,012 | $3,391,258 | $2,940,754 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $846,409
- of which government grants
- $786,593
- Program service revenue
- $808,594
- Investment income
- $0
- Other revenue
- $46,703
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $268,375
- Other salaries and wages
- $319,177
- Salaries, compensation and benefits (total)
- $828,662
- Professional fundraising fees
- $0
- Legal fees
- $7,562
- Accounting fees
- $33,723
- Occupancy
- $56,824
- Travel
- $38,293
- Depreciation
- $2,367
- Program services (functional)
- $1,483,914
- Management and general (functional)
- $20,000
Balance sheet and other
- Total assets, start of year
- $7,224,200
- Total assets, end of year
- $7,578,089
- Total liabilities, end of year
- $4,267,904
- Net assets, end of year
- $3,310,185
- Land, buildings and equipment
- $24,051
- Net assets without donor restrictions
- $1,273,272
- Net assets with donor restrictions
- $2,036,913
- Gross receipts
- $1,701,706
- Employees
- 18
- Volunteers
- 0
- Year formed
- 1982
- 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 June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Giovanna Piovanetti Lugo | Executive President Highest-paid employee | 40 | $120,314 |
| Carlos Abreu | Controller Key employee | 40 | $54,800 |
| Mayra Martinez | Acting Loan Department Highest-paid employee | 40 | $50,275 |
| Eddie G Melendez | Compliance Manager Key employee | 40 | $42,986 |
| Paul M Vilar Nelms | President of Board Director Trustee or director, Officer | 2 | $0 |
| Harry O Vega Diaz | Vice-President of Board Director Trustee or director, Officer | 1 | $0 |
| Jaime J Aponte Parsi | Secretary of Board Director Trustee or director, Officer | 2 | $0 |
| Ral O Barreras Rivera | Treasurer of Board Director Trustee or director, Officer | 2 | $0 |
| Carmen M Correa Matos | Director Trustee or director | 1 | $0 |
| Diana L Santiago Olivares | Director Trustee or director | 1 | $0 |
| Ildefonso Rodrguez | Director Trustee or director | 2 | $0 |
| Ismael Velzquez Gomez | Director Trustee or director | 1 | $0 |
| Omar M Contreras Gomez | Director Trustee or director | 2 | $0 |
| Rodolfo A Rivera | Director Trustee or director | 1 | $0 |
| Suleira M Quiones | Director Trustee or director | 1 | $0 |
1 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Jorge Guzman Daleccio | Director Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 15 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Giovanna Piovanetti Lugo | Executive President Highest-paid employee | 40 | $113,319 | $6,000 |
| Everardo Velez Pieiro | Loan Department Director Key employee | 40 | $63,910 | $6,000 |
| Carlos Abreu | Controller Key employee | 40 | $51,003 | $0 |
| Paul M Vilar Nelms | President of Board Director Trustee or director, Officer | 2 | $0 | $0 |
| Harry O Vega Diaz | Vice-President of Board Director Trustee or director, Officer | 1 | $0 | $0 |
| Jaime J Aponte Parsi | Secretary of Board Director Trustee or director, Officer | 2 | $0 | $0 |
| Ral O Barreras Rivera | Treasurer of Board Director Trustee or director, Officer | 2 | $0 | $0 |
| Carmen M Correa Matos | Director Trustee or director | 1 | $0 | $0 |
| Diana L Santiago Olivares | Director Trustee or director | 1 | $0 | $0 |
| Ildefonso Rodrguez | Director Trustee or director | 2 | $0 | $0 |
| Ismael Velzquez Gomez | Director Trustee or director | 1 | $0 | $0 |
| Omar M Contreras Gomez | Director Trustee or director | 2 | $0 | $0 |
| Rodolfo A Rivera | Director Trustee or director | 1 | $0 | $0 |
| Suleira M Quiones | Director Trustee or director | 1 | $0 | $0 |
| Jorge Guzman Daleccio | Director Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2023: 14 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Giovanna Piovanetti Lugo | Executive President Highest-paid employee | 40 | $105,019 | $6,000 |
| Everardo Velez Pineiro | Loan Department Director Key employee | 40 | $61,360 | $6,000 |
| Omar M Contreras Gomez | Director Trustee or director | 2 | $1,700 | $0 |
| Raul O Barreras Rivera | Treasurer of Board Director Trustee or director, Officer | 2 | $1,675 | $0 |
| Ildefonso Rodriguez | Director Trustee or director | 2 | $1,400 | $0 |
| Diana L Santiago Olivares | Director Trustee or director | 1 | $1,275 | $0 |
| Paul M Vilaro Nelms | President of Board Director Trustee or director, Officer | 2 | $1,200 | $0 |
| Ismael Velazquez Gomez | Director Trustee or director | 1 | $1,100 | $0 |
| Rodolfo A Rivera | Director Trustee or director | 1 | $1,100 | $0 |
| Jaime J Aponte Parsi | Secretary of Board Director Trustee or director, Officer | 2 | $975 | $0 |
| Harry O Vega Diaz | Vice-President of Board Director Trustee or director, Officer | 1 | $900 | $0 |
| Suleira M Quinones | Director Trustee or director | 1 | $900 | $0 |
| Carmen M Correa Matos | Director Trustee or director | 1 | $400 | $0 |
| Jorge Guzman Daleccio | Director Trustee or director | 1 | $100 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 191791, SAN JUAN, PR 00919-1791
- In care of
- % GIOVANNA PIOVANETTI
- Principal officer (990 for 2024)
- GIOVANNA PIOVANETTI, 171 AVE CARLOS CHARDON SUITE 407, SAN JUAN, PR 00918
- Signed the 990
- GIOVANNA, PIOVANETTI
- Phone
- (787) 756-5080
- Return prepared by
- GONZALEZ TORRES & CO CPA PSC
Mission
TO PROMOTE FACILITATE AND EXECUTE ECONOMIC DEVELOPMENT COMMUNITY REVITALIZATION LONG-TERM JOB CREATION AND RETENTION SELF-EMPLOYMENT BUSINESS AND CREDIT EDUCATION AND ENTREPRENEURSHIP THROUGH THE ESTABLISHMENT OR EXPANSION OF MICRO SMALL AND MEDIUM-SIZED ENTERPRISES.
Program accomplishments
- SBA MICROLOAN DEMONSTRATION PROGRAM - 11 NEW LOANS WERE CLOSED DURING THE YEAR TOTALING $406,157Expenses $342,457 · grants $224,943 · revenue $348,039
- SBA 504 LOANS PROGRAM - 25 NEW LOANS WERE CLOSING DURING THE YEAR TOTALING $8,819,000Expenses $415,637 · revenue $555,334
- COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION FUND - 5 NEW LOANS WERE CLOSED UNDER A NEW CDFI FUND; CDFI-ERP-80 20. TOTAL DISBURSED $59,200.00 LOANS + $14,800.00 GRANTExpenses $17,748 · revenue $3,444
- RURAL DEVELOPMENT RBEG - A NEW LOAN WAS CLOSED TOTALING $46,000.00Expenses $35,093 · revenue $15,685
- IRP PROGRAM - A NEW LOAN WAS CLOSED TOTALING $106,200.00Expenses $49,744 · revenue $40,226
- DHHS - WOMEN ENTREPRENEURS LOAN FUND - ONE NEW LOAN WERE CLOSED TOTALING $12,061.50Expenses $21,297 · revenue $7,262
- PUERTO RICO COMMUNITY FOUNDATION DORAL FUND - NO NEW LOAN WERE CLOSED DURING THE YEAR.Expenses $217,883 · grants $219,007 · revenue $219,007
- COMMUNITY ADVANTAGE - NO NEW LOAN WERE CLOSED DURING THE YEAR.Expenses $93,437 · revenue $117,542
- CDFI-ERP 80 20 - 2 NEW LOANS WERE CLOSED DURING THE YEAR TOTALING $24,000.00Expenses $65,487 · grants $81,958 · revenue $102,007
- VETERAN BUSINESS OUTREACH CENTER VBOC - PROVIDE TRAINING AND COUNSELING TO VETERANSExpenses $225,131 · grants $247,228 · revenue $247,228
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 June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 66-0398333
- 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
- 2003
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S31)
- Assets (IRS master file)
- $7,578,089
- Income (IRS master file)
- $1,701,706
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $1,701,706 | $1,503,914 | $7,578,089 | XML |
| 990 | June 2024 | $1,406,883 | $1,235,244 | $7,224,200 | XML |
| 990 | June 2023 | $1,152,299 | $984,789 | $6,332,012 | XML |
| 990 | June 2022 | $779,991 | $750,191 | $5,257,497 | IRS |
| 990 | June 2021 | – | – | – | 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 66-0398333).
Questions about CORPORACION PARA EL FINANCIAMIENTO EMPRESARIAL DEL COMERCIO Y DE LAS
- What is the EIN of CORPORACION PARA EL FINANCIAMIENTO EMPRESARIAL DEL COMERCIO Y DE LAS?
- The employer identification number (EIN) of CORPORACION PARA EL FINANCIAMIENTO EMPRESARIAL DEL COMERCIO Y DE LAS is 66-0398333.
- Is CORPORACION PARA EL FINANCIAMIENTO EMPRESARIAL DEL COMERCIO Y DE LAS tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2003.
- Are donations to CORPORACION PARA EL FINANCIAMIENTO EMPRESARIAL DEL COMERCIO Y DE LAS tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does CORPORACION PARA EL FINANCIAMIENTO EMPRESARIAL DEL COMERCIO Y DE LAS 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 CORPORACION PARA EL FINANCIAMIENTO EMPRESARIAL DEL COMERCIO Y DE LAS due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CORPORACION PARA EL FINANCIAMIENTO EMPRESARIAL DEL COMERCIO Y DE LAS last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of CORPORACION PARA EL FINANCIAMIENTO EMPRESARIAL DEL COMERCIO Y DE LAS?
- The 990 for the year ended June 30, 2025 names GIOVANNA PIOVANETTI.
- Who are the officers and directors of CORPORACION PARA EL FINANCIAMIENTO EMPRESARIAL DEL COMERCIO Y DE LAS?
- The 990 for the year ended June 30, 2025 lists 16 people; 4 received compensation from the organization, the highest $120,314 (Giovanna Piovanetti Lugo, Executive President).
- How much revenue does CORPORACION PARA EL FINANCIAMIENTO EMPRESARIAL DEL COMERCIO Y DE LAS have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $1,701,706, expenses of $1,503,914 and total assets of $7,578,089 at year end.
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