Fondos Unidos de Puerto Rico Inc

Analysis

Fondos Unidos de Puerto Rico Inc is a registered charity in United States, based in San Juan, PR. It received its IRS tax-exemption ruling in December 1971, 55 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Fondos Unidos de Puerto Rico Inc reported income of $6.7m and spending of $7.7m, spending 116% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $6.8m to $6.7m (-1.5%), an average of -0.4% a year. The sharpest change came in the year to December 2020, when income rose by 177%. Over the whole period it spent 101% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Fondos Unidos de Puerto Rico Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 90th percentile within PR. Charities of a similar size with the same main cause include Raleigh Rescue Mission Foundation Inc ($6.6m), Mission Increase ($6.7m) and Quest Services Inc ($6.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% of the total. Compensation of current officers, directors and key employees was $558k (7.2% of expenses). Other salaries and wages came to $947k. At year end it held assets of $14.9m against liabilities of $5.1m, net assets of $9.8m. It reported 40 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.