Foundation for Puerto Rico Inc

Analysis

Foundation for Puerto Rico Inc is a registered charity in United States, based in San Juan, PR. It received its IRS tax-exemption ruling in December 2013, 13 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Foundation for Puerto Rico Inc reported income of $4.3m and spending of $4.6m, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.3m to $4.3m (+1.5%), an average of +0.4% a year. The sharpest change came in the year to December 2021, when income rose by 43%. Over the whole period it spent 110% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Foundation for Puerto Rico Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 87th percentile within PR. Charities of a similar size with the same main cause include Picpa Foundation for Education and Research ($4.3m), Carver-Hennepin Options for Innovative Community Employment ($4.3m) and Hyde Street Community Services Inc ($4.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $162k (3.5% of expenses). Other salaries and wages came to $2.6m. It paid $38k in professional fundraising fees. At year end it held assets of $5.5m against liabilities of $2.1m, net assets of $3.5m. It reported 39 employees.