Bluetide Puerto Rico Inc

Analysis

Bluetide Puerto Rico Inc is a registered charity in United States, based in San Juan, PR. It received its IRS tax-exemption ruling in July 2018, 8 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2021, Bluetide Puerto Rico Inc reported income of $6.1m and spending of $1.5m, leaving 76% of income unspent that year. Across the 2 years on record, from December 2020 to December 2021, income grew from $726k to $6.1m (+740%), an average of +740% a year. The sharpest change came in the year to December 2021, when income rose by 740%. Over the whole period it spent 29% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Bluetide Puerto Rico Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 90th percentile within PR. Charities of a similar size with the same main cause include San Diego Electrical Training Trust ($6.1m), Spectrum Support Inc ($6.1m) and Generous Life Foundation ($6.1m).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $96k (6.4% of expenses). Other salaries and wages came to $257k. At year end it held assets of $5.3m against liabilities of $506k, net assets of $4.7m. It reported 11 employees.