FOUNDATION FOR PUERTO RICO INC Charity Report

Public IRS 990 nonprofit record

FOUNDATION FOR PUERTO RICO INC

EIN 66-0776227 · Community & Neighborhood Development (S20)

What they do

FOUNDATION for PUERTO RICO, INC. (FPR) WORKS WITH A DEFINED PLAN to DEVELOP PUERTO RICOS SOCIAL and ECONOMIC POTENTIAL and TRANSFORM IT INTO AN IMPORTANT COMPETITOR IN THE WORLD. FPR DOES THIS BY PROMOTING THE VISITOR ECONOMY and EXPORT of THE 21ST CENTURY AS CENTRAL to ECONOMIC DEVELOPMENT; SUPPORTING INNOVATION IN EVERY SECTOR; CONTRIBUTING to STRENGTHEN and DEVELOP THE ORGANIZATIONS THAT MAKE UP OUR SOCIETY; and DRIVING THE TALENT HERE to RECOGNIZE ITS POTENTIAL. THE MISSION is to TRANSFORM PUERTO RICO INTO A DESTINATION for THE WORLD BY DRIVING SUSTAINABLE STRATEGIES of ECONOMIC and SOCIAL DEVELOPMENT.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $57.40 was reported for mission work. Use the spending picture below and ask what results that work produced.

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 checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

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

They name their leaders14 people are listed in the latest report.

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

Money made simple

57.52%of revenue went to mission work57.4% of expenses · Program services

7.79%of revenue went to fundraising7.8% of expenses

$100.20spent for every $100 of revenueSpending was higher than revenue this year.

34.89%of revenue went to management and office costs34.8% of expenses

$1.36in assets for every $1 spent this yearSome assets cannot be spent right away.

97.6%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Worth asking: Expenses exceeded revenue by $9,124 this year. Ask whether that was planned or caused by a one-time event.

Pay context: The highest compensation shown in this filing is $159,990 for DAMARIS OCASIO NIEVES (CFO). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

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$4,532,198

Mission workProgram services$2,607,13257.52% of revenue57.4% of expenses

ManagementOffice and general costs$1,581,08334.89% of revenue34.8% of expenses

FundraisingAsking for donations$353,1077.79% of revenue7.8% of expenses

Total expenses$4,541,322100.20% of revenue

Expenses were greater than revenue, so the colored ring fills the available $100 and the total above 100% is shown below.

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

2024CurrentExpense mix: 57.4% mission · 34.8% management · 7.8% fundraisingTotal expenses: 100.20% of revenue

2023Expense mix: 53.1% mission · 33.9% management · 12.9% fundraisingTotal expenses: 106.67% of revenue

2022Expense mix: 50.8% mission · 36.2% management · 13.1% fundraisingTotal expenses: 73.24% of revenue

2021Expense mix: 65.6% mission · 24.5% management · 9.8% fundraisingTotal expenses: 97.62% of revenue

2020Expense mix: 67.5% mission · 25.5% management · 7.0% fundraisingTotal expenses: 114.45% of revenue

2018Expense mix: 88.3% mission · 8.0% management · 3.6% fundraisingTotal expenses: 145.45% of revenue

2017Expense mix: 80.6% mission · 16.0% management · 3.4% fundraisingTotal expenses: 32.19% of revenue

2016Expense mix: 87.2% mission · 12.8% management · 0.0% fundraisingTotal expenses: 87.55% of revenue

Money in and money out

Revenue$4,532,198

Expenses$4,541,322

Annual shortfall $9,124 Expenses were higher than revenue 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)$2,607,132 · 57.4% of expenses

Management and office costs$1,581,083 · 34.8% of expenses

Fundraising$353,107 · 7.8% of expenses

See all reported dollar amounts

Revenue$4,532,198

Expenses$4,541,322

Assets$6,179,788

Income$37,966,090

Contributions$4,423,440

Mission work (program services)$2,607,132

Fundraising$353,107

Grants given$6,691,154

Average grant$107,922

Management and general$1,581,083

Executive compensation (total)$386,455

Accounting fees$74,000

People

Leadership and board

Tax year 2024

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

People reported as paid

Person and titleCompensation

DAMARIS OCASIO NIEVESCFO · 40 hrs/week $159,990

SOLEDAD GAZTAMBIDE ARANDESCHIEF OFFICE · 40 hrs/week $127,100

CESAR A SANTOS CARDONAHR DIRECTOR · 40 hrs/week $105,100

ALMA M FRONTERA COLONVP OPERATION · 40 hrs/week $104,225

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (14)

DAMARIS OCASIO NIEVESCFO

SOLEDAD GAZTAMBIDE ARANDESCHIEF OFFICE

CESAR A SANTOS CARDONAHR DIRECTOR

ALMA M FRONTERA COLONVP OPERATION

ALEXANDER BORSCHOWDIRECTOR

CARLOS L RODRIGUEZ RAMOSDIRECTOR

GRACIELA ELETAVICE-CHAIRWO

INGRID RIVERASECRETARY

JESUS LOPEZDIRECTOR

JONATHAN BORSCHOWCHAIRMAN

JUAN A RAMOSDIRECTOR

RAMON MELLADOCHAIR GOVERN

RONALD CASTRODIRECTOR

ZULMARIE URRUTIATREASURER

About this charity

Recognized since: January 2013
Location: 1500 CALLE ANTONSANTI, SAN JUAN, PR 00912-3139
In care of: DAMARIS OCASIO NIEVES
Primary officer: DAMARIS OCASIO NIEVES, CFO

How to reach them

WebsiteVisit the charity’s website Phone(787) 773-1100

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
Tax preparer: KEVANE GRANT THORNTON LLP
NTEE classification: Community & Neighborhood Development (S20)
IRS tax category: Community & Neighborhood Development
Grant-giving organization: Yes