Elvin Cruz-Hernández CPA CVA REB  Tax & Managing Director

Elvin has over seventeen years of combined experience in the tax, accounting, consulting and auditing field.  Elvin has experience in rendering services to a wide variety of clients and organizations, especially in the financial services, hospitality, not-for-profit, governmental, manufacturing, retail and distribution industries.

Elvin began his professional career in 1993 as Auditor I of the Office of the Comptroller of Puerto Rico.  Beginning 1994, he joined KPMG Peat Marwick LLP (KPMG) as Audit and Tax Assistant.  After 6 years at KPMG and executing as Tax Manager, he joined Guidant Puerto Rico BV (Guidant) in 1999, an international corporation and manufacturer of medical devices.  In March 2000, he established and became the Managing Director of Cruz & Urrutia, to serve entities on their tax, audit and consulting needs.

Education and Other Professional Activities

Elvin received a Bachelor’s Degree in Business Administration with a Major in Accounting, Magna Cum Laude, from the University of Puerto Rico, Río Piedras Campus, in 1993.

Elvin is a Certified Public Accountant (CPA) licensed in Puerto Rico since 1993.  He obtained the highest score of the May 1993 CPA examination.  Elvin is a member of the Puerto Rico Society of Certified Public Accountants, the American Institute of Certified Public Accountants (AICPA).  He is member of the Board of Directors of the Society of CPA San Juan Chapter.

Elvin has served as instructor of tax and accounting seminars.  Elvin is Real Estate Broker (REB) since 2004, and approved a special certification administered by the Economic Development Bank of Puerto Rico called “Programa de Planificación Financiera – Incentivos Gubernamentales” in 2005.  He received the designation as a Certified Valuation Analyst (CVA) on February 2009.  Elvin was elected 2011-2012 President of the San Juan Chapter, of the Puerto Rico Society of Certified Public Accountants (CCPAPR, for its Spanish acronym).

Zulmarie Urrutia-Vélez CPA Esq LLM
Business Consulting Director

Zulmarie has over fifteen years of experience with a very diverse exposure to professional environments. Her first professional practice dates back to 1994, during her college senior year when she worked at Procter & Gamble as Finance intern. In 1995, she joined Ernst & Young LLP as Audit & Tax Staff, where she had the opportunity to acquire skills and formal training in Assurance and Advisory Business Services as well as Tax Compliance & Consulting, considered a unique experience offered by the firm only to selected employees. In 1998, she joined the Tax Department at KPMG LLP as Senior, and just after 9 months she was promoted to Supervising Senior.

In 2001, she was invited to join the Puerto Rico Tourism Company (“PRTC”) where she significantly contributed to the development of a cohesive public policy in economic development from varied positions.  Beginning 2004, the Secretary of the Department of Economic Development and Commerce appointed her Assistant Secretary.

Acquiring a vision in public policy execution, strategic planning, operational efficiency monitoring and restructuring, in addition to extensive background in economic and tourism development all with a balanced participation of both the public and private sectors, on December 2004 she was designated Director of Finance of the PRTC and appointed by its Board of Directors as Vice-President of the Hotel Development Corporation (HDC).

Her experience in the public sector robustly contributed to more than a few important projects, not only regarding the PRTC as a public service organization, but also to the economic development of Puerto Rico: creation of the Tourism Quality Assurance and Financial Incentives Divisions at PRTC, monitoring performance and execution of the Puerto Rico Tourism & Transportation Strategic Plan 2002-2006, drafting and implementation of the Room Tax Act 272 of 2003, coordination and implementation of Act 153 of 2002 in furtherance of a Sustainable Development Plan for Vieques and Culebra, among others. In addition, she was an active member of the work group established within different governmental units pursuant to the bond issuance in the amount of $450 millions to finance the new Puerto Rico Convention Center. She also participated as HDC Treasurer in the negotiations and discussion boards pursuant to a millionaire public investment in the Sheraton Convention Center Hotel.

Beginning 2007, Zulmarie joined the faculty of the Accounting Department of the University of Puerto Rico - Río Piedras Campus, where she lectured as Accounting professor and for more than two years coordinated Programa ENLACE (the career and placement office at the School of Business) until August 2011.

Her private practice as Cruz & Urrutia focuses on clientele mainly related to tourism and hospitality affairs as to financing structuring, tax benefits negotiation and investment tax credit certification. Zulmarie also provides thorough and diverse business consultation combining legal as well as financial perspectives.

Education and Other Professional Activities

Zulmarie holds various professional licenses and certifications as part of her strong academic and professional background. She is a Certified Public Accountant since 1996, an Alternate Disputes Resolution Mediator certified by the Puerto Rico Supreme Court since 2004 and an Attorney at Law admitted to practice also by the Puerto Rico Supreme Court since February 2005.

On 2009, the UPR granted her a study scholarship to pursue her post-graduate degree.  Today, Zulmarie is also an LLM alumni from Northwestern University Law School in Chicago, IL and holds a Certificate in Business Administration from Instituto de Empresa in Madrid, Spain.

As a very special recognition, on August 2007 she was designated by the Governor of the Commonwealth of Puerto Rico as Member of the Puerto Rico Accountancy Board.  Her term was completed on August 2009.

She is actively involved with the Puerto Rico Society of Certified Public Accountants (CCPAPR, for its Spanish acronym), where she is currently the 1st Vicepresident of the Governance Board. Zulmarie was also Elected President 2012-2013 of the San Juan Chapter of CCPAPR.

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