Puerto Rico Industries for the Blind

Analysis

Puerto Rico Industries for the Blind is a registered charity in United States, based in Mayaguez, PR. It received its IRS tax-exemption ruling in April 2018, 8 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Puerto Rico Industries for the Blind reported income of $11.1m and spending of $9.9m, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.9m to $11.1m (+127%), an average of +23% a year. The sharpest change came in the year to December 2022, when income rose by 272%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Puerto Rico Industries for the Blind sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 92nd percentile within PR. Charities of a similar size with the same main cause include Fresno Building Healthy Communities ($11.1m), Portco Inc ($11.2m) and Knoxville Convention & Visitors Bureau Inc ($11.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 16% of the total. Other salaries and wages came to $3.9m. At year end it held assets of $20.7m against liabilities of $19.3m, net assets of $1.4m.