Fundacion Biblioteca Rafael Hernandez Colon Inc

Analysis

Fundacion Biblioteca Rafael Hernandez Colon Inc is a registered charity in United States, based in Ponce, PR. It received its IRS tax-exemption ruling in February 1994, 32 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Fundacion Biblioteca Rafael Hernandez Colon Inc reported income of $495k and spending of $861k, spending 174% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.1m to $495k (-54%), an average of -18% a year. The sharpest change came in the year to December 2021, when income rose by 104%. Over the whole period it spent 113% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Fundacion Biblioteca Rafael Hernandez Colon Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 56th percentile within PR. Charities of a similar size with the same main cause include Historical Society of Quincy & Adams County Illinois ($495k), Artsrevive Community Development Corporation ($495k) and Kansas Oil & Gas Museum Foundation ($495k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 58% and program service revenue 42% of the total. Compensation of current officers, directors and key employees was $60k (7.0% of expenses). Other salaries and wages came to $164k. At year end it held assets of $7.1m against liabilities of $1.8m, net assets of $5.2m. It reported 12 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.