Corporacion Para El Financiamiento Empresarial Del Comercio Y De Las

San Juan, PR
Tax-exempt since Oct. 2003
EIN: 66-0398333

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Community Improvement, Capacity Building / Urban, Community Economic Development (NTEE)

Donations to this organization are tax deductible.

Revenue

$1.41M (2024)

Expenses

$1.24M (2024)

Total Assets

$7.22M (2024)

Total Liabilities

$4.11M (2024)

Source: Form 990 tax filings from 2011 to 2024

Tax Filings and Audits by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Audits are required to be submitted by nonprofit organizations that spend $750,000 or more in federal grant money in a fiscal year. "Single audits" look at the entire organization's finances and compliance, while other audits are program specific. Nonprofit Explorer has PDFs of audits for some nonprofits for fiscal year 2015 and later. Audit data is from the Federal Audit Clearinghouse.

Fiscal Year Ending June
2024

Revenue

$1,406,883

Expenses

$1,235,244

Net Income

$171,639

Net Assets

$3,112,393

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$494,150	35.1%
Program Services	$799,918	56.9%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$112,815	8.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$228,232	18.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$234,895	19.0%

Assets/Debt
Total Assets	$7,224,200
Total Liabilities	$4,111,807
Net Assets	$3,112,393

Compensation

Key Employees and Officers	Compensation	Related	Other
Giovanna Piovanetti Lugo (Executive President)	$113,319	$0	$6,000
Everardo Velez Pieiro (Loan Department Director)	$63,910	$0	$6,000
Carlos Abreu (Controller)	$51,003	$0	$0
Paul M Vilar Nelms (President Of Board Director)	$0	$0	$0
Harry O Vega Diaz (Vice President Of Board Director)	$0	$0	$0
Jaime J Aponte Parsi (Secretary Of Board Director)	$0	$0	$0
Ral O Barreras Rivera (Treasurer Of Board Director)	$0	$0	$0
Carmen M Correa Matos (Director)	$0	$0	$0
Diana L Santiago Olivares (Director)	$0	$0	$0
Ildefonso Rodrguez (Director)	$0	$0	$0
Ismael Velzquez Gomez (Director)	$0	$0	$0
Omar M Contreras Gomez (Director)	$0	$0	$0
Rodolfo A Rivera (Director)	$0	$0	$0
Suleira M Quiones (Director)	$0	$0	$0
Jorge Guzman Daleccio (Director)	$0	$0	$0

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990

Filed on Nov. 13, 2024

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

XML

Audit

Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

PDF

Fiscal Year Ending June
2023

Revenue

$1,152,299

Expenses

$984,789

Net Income

$167,510

Net Assets

$2,940,754

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$437,227	37.9%
Program Services	$670,872	58.2%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$44,200	3.8%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$179,104	18.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$241,260	24.5%

Assets/Debt
Total Assets	$6,332,012
Total Liabilities	$3,391,258
Net Assets	$2,940,754

Compensation

Key Employees and Officers	Compensation	Related	Other
Giovanna Piovanetti Lugo (Executive President)	$105,019	$0	$6,000
Everardo Velez Pineiro (Loan Department Director)	$61,360	$0	$6,000
Omar M Contreras Gomez (Director)	$1,700	$0	$0
Raul O Barreras Rivera (Treasurer Of Board Director)	$1,675	$0	$0
Ildefonso Rodriguez (Director)	$1,400	$0	$0
Diana L Santiago Olivares (Director)	$1,275	$0	$0
Paul M Vilaro Nelms (President Of Board Director)	$1,200	$0	$0
Ismael Velazquez Gomez (Director)	$1,100	$0	$0
Rodolfo A Rivera (Director)	$1,100	$0	$0
Jaime J Aponte Parsi (Secretary Of Board Director)	$975	$0	$0
Harry O Vega Diaz (Vice President Of Board Director)	$900	$0	$0
Suleira M Quinones (Director)	$900	$0	$0
Carmen M Correa Matos (Director)	$400	$0	$0
Jorge Guzman Daleccio (Director)	$100	$0	$0

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990

Filed on May 8, 2024

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

XML

Audit

Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

PDF

This audit found:

Significant deficiency in internal controls

Fiscal Year Ending June
2022

Revenue

$779,991

Expenses

$750,191

Net Income

$29,800

Net Assets

$2,773,244

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$201,722	25.9%
Program Services	$539,362	69.1%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$38,907	5.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$179,110	23.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$141,627	18.9%

Assets/Debt
Total Assets	$5,257,497
Total Liabilities	$2,484,253
Net Assets	$2,773,244

Compensation

Key Employees and Officers	Compensation	Related	Other
Giovanna Piovanetti (Executive Director)	$105,000	$0	$6,000
Everardo Velez Pineiro (Loan Dept Director)	$61,350	$0	$6,000
Omar M Contreras Gomez (Director)	$1,850	$0	$0
Rodolfo A Rivera Herrera (Director)	$1,510	$0	$0
Raul O Barreras Rivera (Treasurer Board Of Directors)	$1,400	$0	$0
Diana L Santiago Olivares (Director)	$1,400	$0	$0
Jaime Aponte Parsi (Director)	$1,275	$0	$0
Idelfonso Rodriguez (Director)	$1,250	$0	$0
Paul Vilaro Nelms (President Board Of Directors)	$900	$0	$0
Harry O Vega Diaz (Vice President Board Of Directors)	$900	$0	$0
Suleira Quinones (Director)	$900	$0	$0
Emilio Torres Hernandez (Secretary Board Of Directors)	$625	$0	$0
Carmen M Correa M Atos (Director)	$450	$0	$0
Ismael Velazquez Perez (Director)	$300	$0	$0

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990

Filed on May 12, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

XML

Fiscal Year Ending June
2021

Revenue

$874,892

Expenses

$721,649

Net Income

$153,243

Net Assets

$2,743,444

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$303,414	34.7%
Program Services	$474,259	54.2%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$97,219	11.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$167,894	23.3%
Professional Fundraising Fees	$0
Other Salaries and Wages	$144,223	20.0%

Assets/Debt
Total Assets	$4,620,577
Total Liabilities	$1,877,133
Net Assets	$2,743,444

Compensation

Key Employees and Officers	Compensation	Related	Other
Giovanna Piovanetti (Executive Director)	$100,318	$0	$0
Everardo Velez Pineiro (Loan Dept Director)	$56,901	$0	$0
Omar M Contreras Gomez (Director)	$1,425	$0	$0
Rodolfo A Rivera Herrera (Director)	$1,325	$0	$0
Idelfonso Rodriguez (Director)	$1,150	$0	$0
Emilio Torres Hernandez (Secretary Board Of Directors)	$1,075	$0	$0
Paul Vilaro Nelms (President Board Of Directors)	$900	$0	$0
Jaime Aponte Parsi (Director)	$900	$0	$0
Diana L Santiago Olivares (Director)	$900	$0	$0
Raul O Barreras Rivera (Treasurer Board Of Directors)	$825	$0	$0
Harry O Vega Diaz (Vice President Board Of Directors)	$700	$0	$0
Suleira Quinones (Director)	$700	$0	$0
Ismael Velazquez Perez (Director)	$600	$0	$0
Aida M Escribano (Director)	$175	$0	$0

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990

Filed on May 10, 2022

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Audit

Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

PDF

Fiscal Year Ending June
2020

Revenue

$1,276,056

Expenses

$975,928

Net Income

$300,128

Net Assets

$2,590,201

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$727,355	57.0%
Program Services	$518,360	40.6%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$30,341	2.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$166,819	17.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$140,774	14.4%

Assets/Debt
Total Assets	$4,400,035
Total Liabilities	$1,809,834
Net Assets	$2,590,201

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Audit

Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

PDF

Fiscal Year Ending June
2019

Revenue

$893,559

Expenses

$903,310

Net Income

-$9,751

Net Assets

$2,290,073

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$330,022	36.9%
Program Services	$508,586	56.9%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$54,951	6.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$161,219	17.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$152,872	16.9%

Assets/Debt
Total Assets	$4,463,726
Total Liabilities	$2,173,653
Net Assets	$2,290,073

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Audit

Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

PDF

Fiscal Year Ending June
2018

Revenue

$871,829

Expenses

$826,750

Net Income

$45,079

Net Assets

$2,299,824

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$344,841	39.6%
Program Services	$480,555	55.1%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$46,433	5.3%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$152,169	18.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$168,133	20.3%

Assets/Debt
Total Assets	$4,304,659
Total Liabilities	$2,004,835
Net Assets	$2,299,824

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending June
2017

Revenue

$967,337

Expenses

$926,120

Net Income

$41,217

Net Assets

$2,254,745

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$344,738	35.6%
Program Services	$552,543	57.1%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$70,056	7.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$151,969	16.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$159,861	17.3%

Assets/Debt
Total Assets	$4,783,823
Total Liabilities	$2,529,078
Net Assets	$2,254,745

Audit

Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

PDF

Fiscal Year Ending June
2016

Revenue

$932,293

Expenses

$837,216

Net Income

$95,077

Net Assets

$2,213,528

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$376,497	40.4%
Program Services	$530,678	56.9%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$25,118	2.7%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$170,119	20.3%
Professional Fundraising Fees	$0
Other Salaries and Wages	$103,181	12.3%

Assets/Debt
Total Assets	$4,750,929
Total Liabilities	$2,537,401
Net Assets	$2,213,528

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Audit

Audit for an entity that spends $750,000+ in federal grant money in a fiscal year

PDF

Fiscal Year Ending June
2015

Revenue

$891,394

Expenses

$1,024,716

Net Income

-$133,322

Net Assets

$2,118,451

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$358,139	40.2%
Program Services	$497,766	55.8%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$35,489	4.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$150,959	14.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$92,972	9.1%

Assets/Debt
Total Assets	$5,005,243
Total Liabilities	$2,886,792
Net Assets	$2,118,451

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending June
2014

Revenue

$635,073

Expenses

$752,956

Net Income

-$117,883

Net Assets

$2,795,695

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$210,365	33.1%
Program Services	$344,844	54.3%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$79,864	12.6%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$188,327	25.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$98,641	13.1%

Assets/Debt
Total Assets	$4,165,930
Total Liabilities	$1,370,235
Net Assets	$2,795,695

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending June
2013

Revenue

$1,519,932

Expenses

$1,072,941

Net Income

$446,991

Net Assets

$2,913,580

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$1,010,418	66.5%
Program Services	$382,478	25.2%
Investment Income	$83	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$126,953	8.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$102,451	9.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$150,701	14.0%

Assets/Debt
Total Assets	$4,197,730
Total Liabilities	$1,284,150
Net Assets	$2,913,580

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending June
2012

Revenue

$670,469

Expenses

$648,185

Net Income

$22,284

Net Assets

$2,466,589

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$175,893	26.2%
Program Services	$373,843	55.8%
Investment Income	$1,591	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$119,142	17.8%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$96,688	14.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$93,314	14.4%

Assets/Debt
Total Assets	$3,429,514
Total Liabilities	$962,925
Net Assets	$2,466,589

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending June
2011

Revenue

$1,411,784

Expenses

$1,286,760

Net Income

$125,024

Net Assets

$2,444,305

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$138,317	9.8%
Program Services	$936,917	66.4%
Investment Income	$4,673	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$331,877	23.5%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$152,825	11.9%

Assets/Debt
Total Assets	$3,429,500
Total Liabilities	$985,195
Net Assets	$2,444,305

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

Raw filing data. Includes EINs and summary financials as structured data.
Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

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By Andrea Suozzo, Alec Glassford and Ash Ngu, ProPublica, and Brandon Roberts, Special to ProPublica.
Design by Jeff Frankl. Additional development by Ken Schwencke, Mike Tigas, and Sisi Wei.

E-file viewer adapted from IRS e-File Viewer by Ben Getson. Code for scraping audit documents adapated from Govwiki.

Updated December 20, 2024

Corporacion Para El Financiamiento Empresarial Del Comercio Y De Las

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $1.41M (2024)

Expenses $1.24M (2024)

Total Assets $7.22M (2024)

Total Liabilities $4.11M (2024)

Tax Filings and Audits by Year

Fiscal Year Ending June 2024

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Audit

Fiscal Year Ending June 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Audit

Fiscal Year Ending June 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending June 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Audit

Fiscal Year Ending June 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Audit

Fiscal Year Ending June 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Audit

Fiscal Year Ending June 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending June 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

Audit

Fiscal Year Ending June 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Audit

Fiscal Year Ending June 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending June 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending June 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending June 2012

Revenue

$1.41M (2024)

Expenses

$1.24M (2024)

Total Assets

$7.22M (2024)

Total Liabilities

$4.11M (2024)

Fiscal Year Ending June
2024

Fiscal Year Ending June
2023

Fiscal Year Ending June
2022

Fiscal Year Ending June
2021

Fiscal Year Ending June
2020

Fiscal Year Ending June
2019

Fiscal Year Ending June
2018

Fiscal Year Ending June
2017

Fiscal Year Ending June
2016

Fiscal Year Ending June
2015

Fiscal Year Ending June
2014

Fiscal Year Ending June
2013

Fiscal Year Ending June
2012

Fiscal Year Ending June
2011

Fiscal Year Ending June
2010

Fiscal Year Ending June
2009

Fiscal Year Ending June
2008

Fiscal Year Ending June
2007

Fiscal Year Ending June
2006

Fiscal Year Ending June
2005

Fiscal Year Ending June
2004

Fiscal Year Ending June
2003

Fiscal Year Ending June
2002

Fiscal Year Ending June
2001