Fundacion Luis G Fortuno

Analysis

Fundacion Luis G Fortuno is a registered charity in United States, based in San Juan, PR. It received its IRS tax-exemption ruling in April 2020, 6 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, Fundacion Luis G Fortuno reported income of $899k and spending of $788k, spending 88% of its income. Across the 4 years on record, from December 2019 to December 2023, income grew from $231k to $899k (+290%), an average of +57% a year. The sharpest change came in the year to December 2021, when income rose by 247%. Over the whole period it spent 85% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Fundacion Luis G Fortuno sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 68th percentile within PR. Charities of a similar size with the same main cause include Kennebec Valley Council of Governments ($899k), Assistance League of Riverside ($900k) and Hudson County Economic Development Corporation ($899k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. It paid $78k in professional fundraising fees. At year end it held assets of $429k against liabilities of $46k, net assets of $382k.