FUNDACION DR CARLOS LOPEZ SOMOLINOS INC Charity Report

Tax-exempt status may be revoked

FUNDACION DR CARLOS LOPEZ SOMOLINOS INC

EIN 66-0727301 · Scholarships & Student Financial Aid (B82)

What they do

THE ORGANIZATION PRIMARY EXEMPT PURPOSE is GRANT STUDENT SCHOLARSHIP to CHILDREN WITH SOCIOECONOMIC NEEDS. THE ORGANIZATION GIVES THE BENEFITS to 22 STUDENTS DURING THE ACADEMIC YEAR 2025. THE PRIMARY REVENUE SOURCES COME FROM PRIVATE DONATIONS IN PUERTO RICO.

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This record may have an IRS status problem. Do not give until you verify it.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkThere may be a problem with its nonprofit status. Check before giving.

Money report from 2025The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders4 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

20.27%of revenue went to mission work37.9% of expenses · Program services

20.11%of revenue went to fundraising37.6% of expenses

$53.54spent for every $100 of revenueRevenue covered expenses this year.

13.16%of revenue went to management and office costs24.6% of expenses

$6.27in assets for every $1 spent this yearSome assets cannot be spent right away.

64.2%of its money came from giftsOther money may come from services or investments.

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Money

Financial picture

Tax year 2025

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$252,316

Mission workProgram services$51,14420.27% of revenue37.9% of expenses

ManagementOffice and general costs$33,20513.16% of revenue24.6% of expenses

FundraisingAsking for donations$50,74120.11% of revenue37.6% of expenses

Revenue left after expensesReported annual surplus$117,22646.46% of revenueShown in gray on the chart

Total expenses$135,09053.54% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2025CurrentExpense mix: 37.9% mission · 24.6% management · 37.6% fundraisingTotal expenses: 53.54% of revenue

2024Expense mix: 40.0% mission · 21.0% management · 39.1% fundraisingTotal expenses: 60.34% of revenue

2023Expense mix: 38.6% mission · 22.5% management · 38.9% fundraisingTotal expenses: 58.32% of revenue

2022Expense mix: 38.9% mission · 0.0% management · 0.0% fundraisingTotal expenses: 62.34% of revenue

2021Expense mix: 52.7% mission · 0.0% management · 0.0% fundraisingTotal expenses: 50.86% of revenue

Money in and money out

Revenue$252,316

Expenses$135,090

Annual surplus $117,226 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$51,144 · 37.9% of expenses

Management and office costs$33,205 · 24.6% of expenses

Fundraising$50,741 · 37.6% of expenses

See all reported dollar amounts

Revenue$252,316

Expenses$135,090

Assets$847,315

Income$252,316

Contributions$161,951

Mission work (program services)$51,144

Fundraising$50,741

Grants given$153,046

Average grant$6,377

Management and general$33,205

Stocks and bonds$761,003

Accounting fees$7,475

Investing fees$4,883

People

Leadership and board

Tax year 2025

Names, titles, time, and compensation below are reported by the organization on its Form 990.

No compensation was reported for these leaders. The complete board and leadership roster is shown below.

Board and leadership roster (4)

HECTOR NATERVICE PRESIDENT

KAREN SCALLEYSECRETARY

LUIS A OCASIOPRESIDENT

SYLVETTE NATERTREASURER

About this charity

Recognized since: January 2013
Location: PMB 330-425, DORADO, PR 00646-0000
In care of: % LUIS A OCASIO RIVERA
Primary officer: LUIS A OCASIO, PRESIDENT

How to reach them

WebsiteVisit the charity’s website Phone(787) 396-4053

Filing and classification

Latest tax year: 2025
Tax period began: January 1, 2025
Return type: 990
Tax preparer: RIVERA MERCADO & ASSOC LLC
NTEE classification: Scholarships & Student Financial Aid (B82)
IRS tax category: Scholarships & Student Financial Aid
Grant-giving organization: Yes
Revocation date: May 15, 2012