Ricky Martin Foundation Corp

Analysis

Ricky Martin Foundation Corp is a registered charity in United States, based in San Juan, PR. It received its IRS tax-exemption ruling in June 2004, 22 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, Ricky Martin Foundation Corp reported income of $280k and spending of $526k, spending 188% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.9m to $280k (-85%), an average of -38% a year. The sharpest change came in the year to December 2021, when income dropped by 65%. Over the whole period it spent 253% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Ricky Martin Foundation Corp sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 43rd percentile within PR. Charities of a similar size with the same main cause include Amani Christian Community Development Corp ($280k), Hands on Northwest North Carolina ($280k) and Rotary Club of Foster City Foundation ($280k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 73% of the total. Other salaries and wages came to $91k. At year end it held assets of $2.4m against liabilities of $458k, net assets of $1.9m. It reported 3 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.