Friends of Puerto Rico

Analysis

Friends of Puerto Rico is a registered charity in United States, based in Aguadilla, PR. It received its IRS tax-exemption ruling in February 2016, 10 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Friends of Puerto Rico reported income of $755k and spending of $634k, spending 84% of its income. Across the 5 years on record, from December 2018 to December 2023, income grew from $363k to $755k (+108%), an average of +20% a year. The sharpest change came in the year to December 2021, when income rose by 358%. Over the whole period it spent 128% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of Puerto Rico sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 64th percentile within PR. Charities of a similar size with the same main cause include Mauro Inc ($755k), Faith Center for the Arts a NJ Nonprofit Corporation ($755k) and One Longfellow Square Inc ($755k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $121k (19% of expenses). Other salaries and wages came to $108k. At year end it held assets of $680k against liabilities of $539k, net assets of $141k. It reported 13 employees.