PUERTO RICO COMMUNITY FOUNDATION INC

EIN: 660413230 501(c)(3) Philanthropy & Grantmaking

SAN JUAN, PR

Total Revenue
$3,816,736
Total Expenses
$6,290,790
Total Assets
$40,836,391
Net Assets
$36,397,825
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1984
Legal Domicile
PR
Principal Officer
NOELIA MARIN
Phone
7877211037
Tax Period
2023-01-01 to 2023-12-31

PUERTO RICO COMMUNITY FOUNDATION INC, founded in 1984, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $3.8M in total revenue in fiscal year 2023. Revenue fell 39% from the prior year — a significant decline worth monitoring. Expenses of $6.3M exceeded revenue, resulting in a 65% operating deficit.

Mission

To develop the capacities of the communities in Puerto Rico to achieve their social and economic transformation, stimulating philanthropic investment and maximizing the yield of each contribution.

Program Service Accomplishments

Program 1
Expenses: $198,993 Revenue: $84,700

Educational Programs The development of school communities is an essential part of the Foundation's mission. The Foundation believes that education is the cornerstone for personal and social...

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Educational Programs The development of school communities is an essential part of the Foundation's mission. The Foundation believes that education is the cornerstone for personal and social development. The Foundation perceives education as a social action of interdependence and collective responsibility. The accomplishment of significant achievements and the increase of student academic performance will be the result of the continuous collaboration between the public, private and non profit sectors. This is the climate of collaboration among different sectors promoted by the Foundation to facilitate long term and ongoing support of school improvement at the elementary, middle and high school level

Program 2
Expenses: $1,789,861 Revenue: $1,141,998

Puerto Rico Recovery Fund in the aftermath of hurricanes Irma and María the Foundation reactivated its Puerto Rico Community Recovery Fund, once used to address Hurricane Hugo and the emergency of...

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Puerto Rico Recovery Fund in the aftermath of hurricanes Irma and María the Foundation reactivated its Puerto Rico Community Recovery Fund, once used to address Hurricane Hugo and the emergency of 911 in New York. The Fund became a reliable source for donors to facilitate there giving to Puerto Rico and to provide immediate relief and recovery grants to non-profit organizations. After the immediate relief the Fund continue the economic support grants and technical assistance to promote resilient, equitable and sustainable access and development in four strategic milestones renewable energy, drinking water by community aqueducts, affordable housing, education, economic activity at a community based level.

Program 3
Expenses: $58,794 Revenue: $80,000

Economic Development Fund Empower economic activity stemming from the community base through the support of community based organizations that stimulate incubation and acceleration of...

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Economic Development Fund Empower economic activity stemming from the community base through the support of community based organizations that stimulate incubation and acceleration of micro-enterprises through grants, capacity building, and technical assistance. Provide access to financial capital in the form of loans, through the Community Investment Fund Fondo de Inversión Comunitaria FIC, to non profit organizations for the purposes of community loan programs for microenterprises or small businesses, ii affordable housing rehabilitation, pre-development, and development costs, iii projects with an identified repayment source contracts, grants, etc., known as bridge loans, and iv feasible activities with a projected financial and social return.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $3,099,439
Program Service Revenue $0
Investment Income $693,120
Other Revenue $24,177
TOTAL REVENUE $3,816,736

Expense Breakdown

Grants Paid $2,577,600
Salaries & Benefits $2,095,210
Fundraising Expenses $574,479
Program Expenses $4,707,847
Other Expenses $1,617,980
TOTAL EXPENSES $6,290,790

Year-over-Year Comparison

2023 2022 Change
Revenue $3,816,736 $6,227,953 -0.4%
Expenses $6,290,790 $5,751,155 +0.1%
Net Income $-2,474,054 $476,798 -6.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
10
Independent Members
10
Employees
32
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
0
$0
Total Directors
10
$0
Key Employees
4
$509,145
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
NELSON COLON TARRATS PRESIDENT & CEO 38
Key Emp Highest
$216,321 $0 $216,321
MARY ANN GABINO VP SENIOR 40
Key Emp Highest
$120,485 $0 $120,485
DAVID HADDOCK VICE PRESIDENT 32
Key Emp Highest
$102,370 $0 $102,370
NOELIA MARIN OQUENDO FINANCE DIRECTOR & COMPTROLLER 40
Key Emp
$69,969 $0 $69,969
DESIREE MIESES LLAVAT DIRECTOR 4
Director
$0 $0 $0
BENJAMIN ROSARIO ROSARIO DIRECTOR 4
Director
$0 $0 $0
MARTA E FERNANDEZ PABELLON DIRECTOR 4
Director
$0 $0 $0
JUSTO MENDEZ DIRECTOR 4
Director
$0 $0 $0
MARIA D FERNOS DIRECTOR 4
Director
$0 $0 $0
VIVIAN I NEPTUNE RIVERA SECRETARY 4
Director
$0 $0 $0
MIGUEL L VARGAS JIMENEZ TREASURER 4
Director
$0 $0 $0
AIDA TORRES CRUZ DIRECTOR 4
Director
$0 $0 $0
ANTONIO ESCUDERO VIERA PRESIDENT BOD 4
Director
$0 $0 $0
ANITZA COX MARRERO VICE PRESIDENT 4
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $3,816,736 $6,290,790 $40,836,391 $-2,474,054
2022 $6,227,953 $5,751,155 $41,048,922 $476,798
2021 $4,672,785 $6,360,519 $45,680,969 $-1,687,734
2020 $6,206,984 $8,403,330 $41,527,220 $-2,196,346
2019 $6,380,374 $7,186,553 $40,411,062 $-806,179
2018 $9,132,268 $10,403,861 $37,819,101 $-1,271,593
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