Fundacion Rimas Inc

Analysis

Fundacion Rimas Inc is a registered charity in United States, based in San Juan, PR. It received its IRS tax-exemption ruling in September 2022, 4 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 Rimas Inc reported income of $607k and spending of $601k, spending 99% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $857k to $607k (-29%), an average of -29% a year. The sharpest change came in the year to December 2023, when income dropped by 29%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Fundacion Rimas Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 59th percentile within PR. Charities of a similar size with the same main cause include Drift Magazine Foundation Inc ($607k), Region K Community Assistance Corporation ($607k) and Peace by Piece NJ Inc ($607k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $75k (12% of expenses). Other salaries and wages came to $78k. At year end it held assets of $164k against liabilities of $20k, net assets of $144k. It reported 3 employees.