Fundacion Dr Carlos Lopez Somolinos Inc

Analysis

Fundacion Dr Carlos Lopez Somolinos Inc is a registered charity in United States, based in Dorado, PR. It received its IRS tax-exemption ruling in August 2013, 13 years ago. Its declared purposes cover education, which this site groups under education and training. 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 Dr Carlos Lopez Somolinos Inc reported income of $193k and spending of $113k, leaving 42% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $137k to $193k (+41%), an average of +41% a year. The sharpest change came in the year to December 2023, when income rose by 41%. Over the whole period it spent 60% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Fundacion Dr Carlos Lopez Somolinos Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 37th percentile within PR. Charities of a similar size with the same main cause include Loan Repayment Assistance Program of Minnesota ($193k), Danville Athletic Boosters Club Inc ($193k) and American Tae Kwon Do United Inc ($193k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 58% and program service revenue 33% of the total. At year end it held assets of $561k against liabilities of $9,914, net assets of $551k.