FOUNDATION FOR PUERTO RICO INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2011

Legal Domicile

Principal Officer

DAMARIS OCASIO NIEVES

Phone

7877731100

Tax Period

2024-01-01 to 2024-12-31

FOUNDATION FOR PUERTO RICO INC, founded in 2011, is a community nonprofit in the Community Improvement sector that reported $4.5M in total revenue in fiscal year 2024.

Mission

THE MAIN OBJECTIVE OF THE ORGANIZATION IS TO PROMOTE STRATEGIC PHILANTHROPY AS CATALYST TO ACCELERATE THE ECONOMIC, SOCIAL, AND SUSTAINABLE DEVELOPMENT IN PUERTO RICO BY COMMISSIONING HIGHLY FOCUSED RESEARCH, OFFERING EXPERT COUNSEL AND CONDUCTING EDUCATIONAL ACTIVITIES THAT WILL ADVANCE THE PHILANTHROPIC INITIATIVES AND PROGRAMS TO BE SUPPORTED BY THE ORGANIZATION.

Program Service Accomplishments

Program 1

Expenses: $1,770,644

RESILIENCY INITIATIVES - SUPPORTS THE REBUILDING AND RECOVERY EFFORTS OF THE ISLAND THROUGH PARTICIPATORY PLANNING PROCESSES, RESILIENCY DONATIONS, EDUCATIONAL TOOLS AND MATERIALS, TECHNICAL...

RESILIENCY INITIATIVES - SUPPORTS THE REBUILDING AND RECOVERY EFFORTS OF THE ISLAND THROUGH PARTICIPATORY PLANNING PROCESSES, RESILIENCY DONATIONS, EDUCATIONAL TOOLS AND MATERIALS, TECHNICAL ASSISTANCE, AND INSPIRATION TO A NEW GENERATION OF RESILIENT COMMUNITIES THAT WILL BE PREPARED TO SURVIVE AND THRIVE IN THE FACE OF UNFORSEEN ADVERSITY.

Program 2

Expenses: $770,428

ECONOMIC DEVELOPMENT INITIATIVES - INCLUDES THE IMPLEMENTATION OF ECONOMIC DEVELOPMENT STRATEGIES IN THE COMMUNITIES OF PUERTO RICO WHILE MAXIMIZING OUR ASSETS. ALSO, WORKING ON STRENGTHENING THE...

ECONOMIC DEVELOPMENT INITIATIVES - INCLUDES THE IMPLEMENTATION OF ECONOMIC DEVELOPMENT STRATEGIES IN THE COMMUNITIES OF PUERTO RICO WHILE MAXIMIZING OUR ASSETS. ALSO, WORKING ON STRENGTHENING THE THIRD SECTOR, ENTREPRENEURIAL AND BUSINESS ECOSYSTEMS, AND SOCIAL CAPITAL IN GENERAL. ALL FROM THE "BOTTOM UP".

Program 3

Expenses: $66,060

POLICY, RESEARCH, AND INNOVATION INITIATIVES - DRIVE INNOVATION THROUGH POLICY AND RESEARCH, SHARING KNOWLEDGE AND BEST PRACTICES, AND DEVELOPING STRATEGIES IN COLLABORATION WITH PARTNERS TO ADDRESS CRITICAL CHALLENGES AND OPPORTUNITIES AFFECTING OUR COMMUNITIES, WITH THE MAIN GOAL OF BRINGING GROWTH AND TRANSFORMATION TO PUERTO RICO'S ECONOMY. SEEKS TO IMPLEMENT INNOVATIVE AND STRATEGIC INNITIATIVE THROUGH THE CENTER OF STRATEGIC INNOVATION.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $4,423,440

Program Service Revenue $0

Investment Income $81,460

Other Revenue $27,298

TOTAL REVENUE $4,532,198

Expense Breakdown

Grants Paid $95,441

Salaries & Benefits $2,897,844

Fundraising Expenses $353,107

Program Expenses $2,607,132

Other Expenses $1,548,037

TOTAL EXPENSES $4,541,322

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,532,198	$4,333,453	+0.0%
Expenses	$4,541,322	$4,622,360	0.0%
Net Income	$-9,124	$-288,907	-1.0%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

N/A

Employees

Volunteers

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

$159,990

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAMARIS OCASIO NIEVES	CFO	40.00	Officer	$159,990	$0	$159,990
SOLEDAD GAZTAMBIDE ARANDES	CHIEF OFFICE	40.00	Highest	$127,100	$0	$127,100
CESAR A SANTOS CARDONA	HR DIRECTOR	40.00	Highest	$105,100	$0	$105,100
ALMA M FRONTERA COLON	VP OPERATION	40.00	Highest	$104,225	$0	$104,225
ALEXANDER BORSCHOW	DIRECTOR	N/A	Director	$0	$0	$0
JONATHAN BORSCHOW	CHAIRMAN	N/A	Officer Director	$0	$0	$0
RONALD CASTRO	DIRECTOR	N/A	Director	$0	$0	$0
GRACIELA ELETA	VICE-CHAIRWO	N/A	Officer Director	$0	$0	$0
JESUS LOPEZ	DIRECTOR	N/A	Director	$0	$0	$0
RAMON MELLADO	CHAIR GOVERN	N/A	Officer Director	$0	$0	$0
CARLOS L RODRIGUEZ RAMOS	DIRECTOR	N/A	Director	$0	$0	$0
JUAN A RAMOS	DIRECTOR	N/A	Director	$0	$0	$0
INGRID RIVERA	SECRETARY	N/A	Officer Director	$0	$0	$0
ZULMARIE URRUTIA	TREASURER	N/A	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	$4,532,198	$4,541,322	$6,179,788	$-9,124
2023	$4,333,453	$4,622,360	$5,529,867	$-288,907
2022	$6,329,800	$4,635,720	$5,842,849	$1,694,080
2021	$7,478,799	$7,301,165	$4,538,825	$177,634
2020	$5,218,626	$5,972,674	$3,606,933	$-754,048
2018	$6,149,360	$8,944,229	$6,990,888	$-2,794,869