INSTITUTO CENTROAMERICANO DE ADMINISTRACION DE EMPRESAS

EIN: 237417722 501(c)(3) International Affairs

CORAL GABLES, FL

Total Revenue
$35,130,145
Total Expenses
$37,815,948
Total Assets
$81,466,448
Net Assets
$62,349,357
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1964
Legal Domicile
FL
Principal Officer
ERIKA BERNAL
Phone
3053402000
Tax Period
2023-01-01 to 2023-12-31

INSTITUTO CENTROAMERICANO DE ADMINISTRACION DE EMPRESAS, founded in 1964, is a mid-sized nonprofit in the International Affairs sector that reported $35.1M in total revenue in fiscal year 2023. Revenue surged 22% from the prior year, signaling strong growth momentum.

Mission

INCAE IS PRIMARILY DEDICATED TO MASTER'S LEVEL EDUCATION IN BUSINESS ADMINISTRATION, BUSINESS ECONOMICS, NATURAL RESOURCES MANAGEMENT, FINANCIAL, MARKETING, INDUSTRIAL ENGINEERING, RESEARCH AND CONSULTING.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $3,366,791
Program Service Revenue $19,575,366
Investment Income $3,184,731
Other Revenue $9,003,257
TOTAL REVENUE $35,130,145

Expense Breakdown

Grants Paid $0
Salaries & Benefits $17,316,053
Fundraising Expenses $445,726
Program Expenses $16,110,160
Other Expenses $20,486,886
TOTAL EXPENSES $37,815,948

Year-over-Year Comparison

2023 2022 Change
Revenue $35,130,145 $28,728,343 +0.2%
Expenses $37,815,948 $34,094,673 +0.1%
Net Income $-2,685,803 $-5,366,330 -0.5%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
22
Independent Members
21
Employees
N/A
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
21
$456,000
Total Directors
20
$456,000
Key Employees
1
$182,690
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ENRIQUE BOLANOS RECTOR 40.00
Officer Director
$256,000 $0 $256,000
CAMELIA LLIE DEAN 40.00
Officer Director
$200,000 $0 $200,000
GUILLERMO CARDOZA PROFESSOR-CO 40.00
Key Emp
$182,690 $0 $182,690
FRANCISCO ALEMAN DIRECTOR-ECU 3.00
Officer Director
$0 $0 $0
XAVIER ARGUELLO DIRECTOR-HON 3.00
Officer Director
$0 $0 $0
ROBERTO ARTAVIA PRESIDENT 5.00
Officer Director
$0 $0 $0
CAMILO ATALA DIRECTOR-HON 3.00
Officer Director
$0 $0 $0
BRIZIO BIONDI-MORRA PRESIDENT-EM 3.00
Officer Director
$0 $0 $0
MARIA EUGENIA BRIZUELA DIRECTOR-EL 3.00
Officer Director
$0 $0 $0
ERNESTO CASTEGNARO DIRECTOR-COS 3.00
Officer Director
$0 $0 $0
CARLOS F PELLAS CHAMORRO VICE PRESIDE 3.00
Officer Director
$0 $0 $0
DIEGO HERRERA DIRECTOR-PAN 3.00
Officer Director
$0 $0 $0
BERNARD KILIAN DEAN 40.00
Officer Director
$0 $0 $0
ALEXANDRA KISSLING DIRECTOR-COS 3.00
Officer Director
$0 $0 $0
DANILO LACAYO DIRECTOR-NIA 3.00
Officer Director
$0 $0 $0
ALEJANDRO POMA DIRECTOR-EL 3.00
Officer Director
$0 $0 $0
MICHELE QUINTANO DEAN 40.00
Officer Director
$0 $0 $0
JUAN BAUTISTA SACASA DIRECTO-NICA 3.00
Officer Director
$0 $0 $0
STEPHAN SCHMIDHEINY DIRECTOR-SWI 3.00
Officer Director
$0 $0 $0
DANILO SIEKAVIZZA DIRECTOR-GUA 3.00
Officer Director
$0 $0 $0
FRANCISCO DE SOLA DIRECTOR-EL 3.00
Officer Director
$0 $0 $0
ERIKA BERNAL CFO 40.00
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $35,130,145 $37,815,948 $81,466,448 $-2,685,803
2022 $28,728,343 $34,094,673 $93,764,202 $-5,366,330
2021 $28,911,734 $28,094,096 $99,001,485 $817,638
2020 $28,675,440 $28,227,256 $96,802,101 $448,184
2019 $35,534,119 $34,236,975 $106,842,308 $1,297,144
2018 $33,941,514 $34,836,495 $110,323,467 $-894,981
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