Promesa Administrative Services Organization Inc Paso

Overview

Promesa Administrative Services Organization Inc Paso (commonly referred to as PASO) is a nonprofit organization established in 1992 and incorporated under New York State law. The organization operates as a 501(c)(3) public charity and is listed with the Employee Identification Number (EIN) 13-3653276. Its mission is primarily to provide administrative and supervisory services to various entities within the Acacia Network.

Purpose and Services

PASO specializes in delivering a range of administrative functions, including human resources, finance, accounting, information technology, purchasing, and compliance support. These services cater to the operational needs of its affiliated organizations, primarily to enhance efficiency and support their corporate goals[1][4].

Financial Overview

According to recent financial reports, Promesa Administrative Services Organization Inc Paso had a revenue of approximately $12.3 million in 2023. The organization’s funding largely comes from program services, which accounted for 99.4% of its total revenue. The remaining revenue comprises various minor sources[1][2].

The organization has faced challenges regarding liabilities, reporting total liabilities of approximately $3.26 million against total assets of $2.75 million[1][3]. Such financial dynamics are common among nonprofit entities that manage extensive service portfolios and affiliate networks.

Governance and Leadership

While detailed information on current board members is sparse, key leadership positions within the organization include:

• Raul Russi: Chief Executive Officer
• Milton Derienzo: Chief Financial Officer
• Jose A. Rodriguez: Chief Legal Officer

The compensation for top executives reflects standard practices within nonprofit organizations, although specific figures can vary year-over-year based on funding and operational demands[1][2][4].

Community Impact and Recognition

Promesa Administrative Services Organization Inc Paso serves primarily the Bronx, New York, and its surrounding communities. It is recognized for its commitment to providing essential support that fosters the operational capacities of its affiliates, thus contributing positively to community services[2][4].

The organization has received a rating of 3 out of 4 stars from Charity Navigator, reflecting its adherence to transparency and accountability in financial reporting and operations[5]. This accolade aids in fostering trust and encouraging donor support, crucial for nonprofit sustainability.

Conclusion

Promesa Administrative Services Organization Inc Paso exemplifies a key player in the nonprofit sector focused on delivering critical administrative support to various service-oriented entities. As it continues its operations, the organization remains committed to improving its financial health and expanding its community impact.