Invest Puerto Rico Inc

Analysis

Invest Puerto Rico Inc is a registered charity in United States, based in San Juan, PR. It received its IRS tax-exemption ruling in January 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 June 2023, Invest Puerto Rico Inc reported income of $8.1m and spending of $8.3m, spending 103% of its income. Across the 3 years on record, from June 2021 to June 2023, income grew from $5.3m to $8.1m (+54%), an average of +24% a year. The sharpest change came in the year to June 2022, when income rose by 212%. Over the whole period it spent 88% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Invest Puerto Rico Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 91st percentile within PR. Charities of a similar size with the same main cause include Waterloo Greenway Conservancy ($8.1m), Neighborhood Progress Inc ($8.1m) and Grand Avenue Economic Community Development Corp ($8.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $1.9m. At year end it held assets of $12.0m against liabilities of $8.4m, net assets of $3.7m. It reported 23 employees.