PUERTO RICO MANUFACTURING EXTENSION PRIMEX INC

EIN: 660522632 501(c)(3) Community Improvement

San Juan, PR

Total Revenue
$2,828,889
Total Expenses
$2,761,940
Total Assets
$3,983,909
Net Assets
$3,707,407
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1995
Legal Domicile
PR
Principal Officer
Ramon Vega
Phone
7877560505
Tax Period
2024-10-01 to 2025-09-30

PUERTO RICO MANUFACTURING EXTENSION PRIMEX INC, founded in 1995, is a community nonprofit in the Community Improvement sector that reported $2.8M in total revenue in fiscal year 2024. Revenue fell 20% from the prior year — a significant decline worth monitoring.

Mission

Innovation and growth strategies, improve processes and systems, cybersecurity, commercialization, lean production, workforce training, supply chain optimization, exporting, among others.

Program Service Accomplishments

Program 1
Expenses: $2,294,446 Revenue: $1,146,617

The Puerto Rico Manufacturing Extension Inc. (PRiMEX) is a private non-profit organization, organized in 1996 through the initiative of Puerto Rico Industrial Development Company (PRIDCO) and the...

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The Puerto Rico Manufacturing Extension Inc. (PRiMEX) is a private non-profit organization, organized in 1996 through the initiative of Puerto Rico Industrial Development Company (PRIDCO) and the Manufacturing Extension Partnership (MEP), a program under the National Institute of Standards and Technology (NIST). As part of a national network, PRiMEX supports the needs of all Puerto Rico's small and medium enterprises (SME's) by providing services to improve their technical know-how and business processes.

Program 2
Expenses: $49,874 Revenue: $49,874

TThe project benefits small and medium companies located in eleven (11) rural municipalities of Puerto Rico with access to PRiMEX's proven industry-tested business methodologies, resources, and...

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TThe project benefits small and medium companies located in eleven (11) rural municipalities of Puerto Rico with access to PRiMEX's proven industry-tested business methodologies, resources, and tools. The project focuses first on an assessment of the business to identify gaps and areas for improvement related to focus areas with the goal of reducing the gaps and making them more competitive and resilient.

Program 3
Expenses: $137,392 Revenue: $136,937

The Supply Chain program seeks to encourage and help all small businesses to optimize their supply chain with access to an exclusive database to connect with the different suppliers on the island...

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The Supply Chain program seeks to encourage and help all small businesses to optimize their supply chain with access to an exclusive database to connect with the different suppliers on the island. The program seeks to identify the capabilities and needs of companies that purchase products outside of Puerto Rico, to provide them with a tool to obtain local products and identify where they are located. It also helps to explore a detailed electronic map of manufacturing in Puerto Rico so that small businesses can connect with other entrepreneurs on the island.

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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 (2024)

Revenue Breakdown

Contributions & Grants $2,828,889
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $2,828,889

Expense Breakdown

Grants Paid $0
Salaries & Benefits $599,697
Fundraising Expenses $0
Program Expenses $2,541,712
Other Expenses $2,162,243
TOTAL EXPENSES $2,761,940

Year-over-Year Comparison

2024 2023 Change
Revenue $2,828,889 $3,557,698 -0.2%
Expenses $2,761,940 $3,598,020 -0.2%
Net Income $66,949 $-40,322 -2.7%
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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Governance

Voting Members
8
Independent Members
8
Employees
12
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
0
$0
Total Directors
9
$112,345
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Ramon Vega Executive Director 40
Director
$111,069 $0 $112,345
Felipe Hernandez Chair BOD 2
Director
$0 $0 $0
Jose Felix Ballester Director 2.00
Director
$0 $0 $0
Alejandro Saldana Director 2
Director
$0 $0 $0
Rafael Diaz Director 2
Director
$0 $0 $0
Luis Cintron Director 2
Director
$0 $0 $0
Saray Lopez Director 2
Director
$0 $0 $0
Wanda Otero Director 2
Director
$0 $0 $0
Luis Morales Director 2
Director
$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
2025 $2,828,889 $2,761,940 $3,983,909 $66,949
2024 $3,557,698 $3,598,020 $3,985,933 $-40,322
2023 $2,915,943 $2,876,695 $3,930,762 $39,248
2022 $3,562,377 $3,485,851 $3,895,141 $76,526
2021 $4,739,702 $4,075,689 $4,194,654 $664,013
2020 $3,560,729 $3,066,571 $3,211,295 $494,158
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