FUNDACION RIMAS 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

2018

Legal Domicile

Principal Officer

JOSE R BENITEZ

Phone

7872450758

Tax Period

2023-01-01 to 2023-12-31

FUNDACION RIMAS INC, founded in 2018, is a small nonprofit in the Human Services sector that reported $607K in total revenue in fiscal year 2023. Revenue fell 29% from the prior year — a significant decline worth monitoring.

Mission

INSPIRE THE NEXT GENERATION OF LEADERS THROUGH SPORTS, MUSIC AND ART.

Program Service Accomplishments

Program 1

Expenses: $459,362 Revenue: $0

WE ARE DEDICATED TO SHAPING THE NEXT GENERATION OF PUERTO RICAN MUSICIANS, ARTISTS AND ATHLETES. OUR COMPREHENSIVE PROGRAMS INCLUDES MUSIC PROGRAMS, COLLABORATIONS, AND ARTIST AND ATHELETE...

WE ARE DEDICATED TO SHAPING THE NEXT GENERATION OF PUERTO RICAN MUSICIANS, ARTISTS AND ATHLETES. OUR COMPREHENSIVE PROGRAMS INCLUDES MUSIC PROGRAMS, COLLABORATIONS, AND ARTIST AND ATHELETE PARTNERSHIP THAT CREATE A PROFOUND IMPACT ON A DIVERSE ARRAY OF YOUNG INDIVIDUALS. THROUH STRATEGIC ALLIANCES WITH LOCAL ORGANIZATIONS AND INDUSTRY LEADERS, WE ARE PAVING THE PATH FOR PUERTO RICO'S YOUTH TO EMERGE AS POWERFUL CATALYSTS OF POSIBLE CHANGE. DURING YEAR 2023 WE HAVE CONTRIBUTED TO SPORTS ACTIVITIES THROUGH INDIVIDUALS, COMMUNITIES AND GROUPS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $607,255

Program Service Revenue $0

Investment Income $38

Other Revenue $0

TOTAL REVENUE $607,293

Expense Breakdown

Grants Paid $0

Salaries & Benefits $175,189

Fundraising Expenses $2,422

Program Expenses $459,362

Other Expenses $425,695

TOTAL EXPENSES $600,884

Year-over-Year Comparison

	2023	2022	Change
Revenue	$607,293	$856,759	-0.3%
Expenses	$600,884	$719,220	-0.2%
Net Income	$6,409	$137,539	-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

Employees

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

Total Directors

Key Employees

$79,007

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSE R BENITEZ	GENERAL MANAGER	40	Key Emp	$75,000	$4,007	$79,007
HECTOR GONZALEZ	PRESIDENT, BOARD OF DIRECTORS	7.00	Director	$0	$0	$0
GLENNISSE PAGAN	VICE-PRESIDENT, BOARD OF DIRECTORS	0	Director	$0	$0	$0
JOSE JUAN TORRES	TREASURER, BOARD OF DIRECTOS	0	Director	$0	$0	$0
PEDRO ORTIZ	SECRETARY, BOARD OF DIRECTORD	0	Director	$0	$0	$0
JOSE JUAN CIRINO	SUB-TREASURER, BOARD OF DIRECTORS	0	Director	$0	$0	$0
IRIS ORTIZ	SUB-SECRETARY, BOARD OF DIRECTORS	0	Director	$0	$0	$0
ANAHI LAZARTE	DIRECTOR, BOARD OF DIRECTORS	0	Director	$0	$0	$0
EDGARDO RIVERA	DIRECTOR, BOARD OF DIRECTORS	0	Director	$0	$0	$0
JORGE BRACERO	DIRECTOR, BOARD OF DIRECTORS	0	Director	$0	$0	$0
JONATHAN MIRANDA	FOUNDER	0	Director	$0	$0	$0
NOAH ASSAD	FOUNDER	0	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	$607,293	$600,884	$163,949	$6,409
2022	$856,759	$719,220	$140,718	$137,539