LUIS A FERRE FOUNDATION INC: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- LUIS A FERRE FOUNDATION INC (EIN 66-0235625)
- Tax period
- 2022-07-01 to 2023-06-30
- Filed
- 2024-05-15
- IRS object ID
- 202441369349311919
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-05-15T15:21:13-04:00 | ReturnTs |
| Tax Period End | 2023-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 660611885 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ALVARADO TAX & BUSINESS ADVISORS LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 195598 | AddressLine1Txt |
| City | SAN JUAN | CityNm |
| State Abbreviation | PR | StateAbbreviationCd |
| ZIP | 009195598 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 660235625 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE LUIS A FERRE FOUNDATION INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | LUIS | BusinessNameControlTxt |
| Phone | 7876418070 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 11924 | AddressLine1Txt |
| City | SAN JUAN | CityNm |
| State Abbreviation | PR | StateAbbreviationCd |
| ZIP | 009221924 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | CARLOS G MARTINEZ RIVERA | PersonNm |
| Person Title | ASSISTANT TREASURER | PersonTitleTxt |
| Phone | 7876418070 | PhoneNum |
| Signature | 2024-05-15 | SignatureDt |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | CARLOS | PersonFirstNm |
| Person Last | MARTINEZ RIVERA | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | false | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | CESAR DE JESUS | PreparerPersonNm |
| PTIN | P01263925 | PTIN |
| Phone | 7879994400 | PhoneNum |
| Preparation | 2024-05-15 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | MARIA LUISA FERRE RANGEL | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 11924 | AddressLine1Txt |
| City | SAN JUAN | CityNm |
| State Abbreviation | PR | StateAbbreviationCd |
| ZIP | 009221924 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $4,915,177 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | HTTP://WWW.MUSEOARTEPONCE.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1956 | FormationYr |
| Legal Domicile State | PR | LegalDomicileStateCd |
| Activity Or Mission | SEE SCHEDULE O | ActivityOrMissionDesc |
| Voting Members Governing Body | 12 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 12 | VotingMembersIndependentCnt |
| Total Employee | 26 | TotalEmployeeCnt |
| Total Volunteers | 1 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| PY Contributions Grants | $2,309,792 | PYContributionsGrantsAmt |
| CY Contributions Grants | $4,165,650 | CYContributionsGrantsAmt |
| CY Program Service Revenue | $12,533 | CYProgramServiceRevenueAmt |
| PY Investment Income | $471,671 | PYInvestmentIncomeAmt |
| CY Investment Income | $573,280 | CYInvestmentIncomeAmt |
| PY Other Revenue | $3,508,876 | PYOtherRevenueAmt |
| CY Other Revenue | $146,819 | CYOtherRevenueAmt |
| PY Total Revenue | $6,290,339 | PYTotalRevenueAmt |
| CY Total Revenue | $4,898,282 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $1,642,312 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $1,945,419 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $23,367 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $22,456 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $1,281,106 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $3,484,234 | PYOtherExpensesAmt |
| CY Other Expenses | $4,095,685 | CYOtherExpensesAmt |
| PY Total Expenses | $5,149,913 | PYTotalExpensesAmt |
| CY Total Expenses | $6,063,560 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,140,426 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$1,165,278 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $43,330,200 | TotalAssetsBOYAmt |
| Total Assets EOY | $41,995,375 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $4,913,561 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $4,640,778 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $38,416,639 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $37,354,597 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | THE PRINCIPAL PURPOSE OF THE LUIS A. FERRE FOUNDATION, INC. (LAFF) IS TO OPERATE, MAINTAIN, CONSERVE, AND EXHIBIT ITS COLLECTION OF ART AT THE MUSEO DE ARTE DE PONCE (MAP), A MUSEUM IN PUERTO RICO ACCREDITED BY THE AMERICAN ALLIANCE OF MUSEUMS. LAFF OWNS ONE OF THE FINEST AND MOST IMPORTATNT COLLECTIONS OF EUROPEAN ART IN THE WESTERN HEMISPHERE. MUSEO DE ARTE DE PONCE CONNECTS THE COMMUNITY WITH THE RICHNESS OF THE WESTERN ART AND ITS MAKERS, FROM THE FOURTEENTH CENTURY TO THE PRESENT. IT INVITES DISCOVERY, STIMULATES CURIOSITY AND FOSTERS DIALOGUE. AS PART OF ITS OBJECTIVES, IT SEEKS TO PROMOTE APPRECIATION OF ART, OFFERS EDUCATIONAL AND RECREATIONAL RESOURCES, AND ESTABLISHES TIES WITH DISADVANTAGED COMMUNITIES IN PUERTO RICO. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $1,986,557 | ExpenseAmt |
| Revenue | $12,533 | RevenueAmt |
| Desc | SEE SCHEDULE O | Desc |
| Total Program Service Expenses | $1,986,557 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | Yes (true) | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (true) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (true) | ReportOtherAssetsInd |
| Report Other Liabilities | false | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | false | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | Yes (true) | ProfessionalFundraisingInd |
| Fundraising Activities | Yes (true) | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | Yes (true) | DeductibleNonCashContriInd |
| Deductible Art Contribution | Yes (true) | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 0 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | false | BackupWthldComplianceInd |
| Employee | 26 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 12 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 12 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (true) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (true) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | false | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | CO THE CORPORATION | PersonNm |
| Phone | 7876418070 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 11924 | AddressLine1Txt |
| City | SAN JUAN | CityNm |
| State Abbreviation | PR | StateAbbreviationCd |
| ZIP | 009221924 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | Yes (X) | NoListedPersonsCompensatedInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (18 entries)
| TitleTitleTxt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|
| MARIA LUISA FERRE RANGEL | ||||||
| PRESIDENT & | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| ANTONIO LUIS FERRE RANGEL | ||||||
| TRUSTEE | Yes (X) | $0 | $0 | $0 | ||
| LUIS TRIGO FERRE | ||||||
| TRUSTEE | Yes (X) | $0 | $0 | $0 | ||
| JAIME FONALLEDAS | ||||||
| TRUSTEE | Yes (X) | $0 | $0 | $0 | ||
| SALOM GALIB | ||||||
| TRUSTEE | Yes (X) | $0 | $0 | $0 | ||
| NICHOLAS PROUTY | ||||||
| TRUSTEE | Yes (X) | $0 | $0 | $0 | ||
| ANAYMIR MUOZ GRAJALES | ||||||
| TRUSTEE | Yes (X) | $0 | $0 | $0 | ||
| RICHARD CARRION MATIENZO | ||||||
| TRUSTEE | Yes (X) | $0 | $0 | $0 | ||
| WALTER KEENAN | ||||||
| TRUSTEE | Yes (X) | $0 | $0 | $0 | ||
| ALBERTO BAC | ||||||
| TRUSTEE | Yes (X) | $0 | $0 | $0 | ||
| PEDRO BUSO GARCIA | ||||||
| SECRETARY | Yes (X) | $0 | $0 | $0 | ||
| MARIA J MIRANDA CRUZ | ||||||
| TREASURER | Yes (X) | $0 | $0 | $0 | ||
| CARLOS G MARTINEZ RIVERA | ||||||
| ASSISTANT TR | Yes (X) | $0 | $0 | $0 | ||
| RAFAEL COX ALOMAR | ||||||
| TRUSTEE | Yes (X) | $0 | $0 | $0 | ||
| HECTOR GUILLERMO MARTINEZ | ||||||
| TRUSTEE | Yes (X) | $0 | $0 | $0 | ||
| CHERYL HARTUP | ||||||
| DIRECTOR | $185,566 | $0 | $2,000 | Yes (X) | ||
| RUBI RODRIGUEZ BUSTILLO | ||||||
| DEPUTY DIREC | $156,600 | $0 | $3,000 | Yes (X) | ||
| FLORIBETH ANCIANI ORTIZ | ||||||
| FINANCE DIRE | $112,620 | $0 | $0 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $454,786 | TotalReportableCompFromOrgAmt |
| Total Other Compensation | $5,000 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 3 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| RMA ARCHITECS PSC | |||||
| PO BOX 10992 CAPARRA HEIGHTS STATIO | SAN JUAN | PR | 009220992 | CONSULTING | $359,258 |
| BFWD LLC | |||||
| 404 AVE DE LA CONSTITUCION APT 1601 | SAN JUAN | PR | 00901 | CONSULTING | $261,370 |
| GEO CIM INC | |||||
| AMELIA IND PARK 26 CALLE EMMA STE 1 | GUAYNABO | PR | 009688007 | CONSULTING | $252,711 |
| ATKINSON-NOLAND & ASSOCIATES | |||||
| 2619 SPRUCE STREET | BOULDER | CO | 80302 | CONSULTING | $246,181 |
| COLLEEN MCCARTHY AND OR MCCARTY STR | |||||
| 222 WEST 80TH STREET 6D | NEW YORK | NY | 10024 | CONSULTING | $204,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 5 | CntrctRcvdGreaterThan100KCnt |
| Fundraising | $586,654 | FundraisingAmt |
| Government Grants | $2,066,000 | GovernmentGrantsAmt |
| All Other Contributions | $1,512,996 | AllOtherContributionsAmt |
| Noncash Contributions | $399,839 | NoncashContributionsAmt |
| Total Contributions | $4,165,650 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | ADMISSIONS | Desc |
| Total Revenue Column | $12,533 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $12,533 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $12,533 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $573,280 | TotalRevenueColumnAmt |
| Exclusion | $573,280 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $3,150 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $3,150 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,150 | TotalRevenueColumnAmt |
| Exclusion | $3,150 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Rpt Fundraising Event | $586,654 | ContriRptFundraisingEventAmt |
| Gross Sales Of Inventory | $37,296 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $16,895 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $20,401 | TotalRevenueColumnAmt |
| Exclusion | $20,401 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER INCOME | Desc |
| Total Revenue Column | $123,268 | TotalRevenueColumnAmt |
| Exclusion | $123,268 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $123,268 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $4,898,282 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $12,533 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $720,099 | ExclusionAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,795,032 | TotalAmt |
| Program Services | $833,476 | ProgramServicesAmt |
| Management And General | $536,716 | ManagementAndGeneralAmt |
| Fundraising | $424,840 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $150,387 | TotalAmt |
| Program Services | $64,876 | ProgramServicesAmt |
| Management And General | $48,621 | ManagementAndGeneralAmt |
| Fundraising | $36,890 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,336 | TotalAmt |
| Management And General | $1,336 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $45,225 | TotalAmt |
| Management And General | $45,225 | ManagementAndGeneralAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $22,456 | TotalAmt |
| Fundraising | $22,456 | FundraisingAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $428,923 | TotalAmt |
| Management And General | $428,923 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $263,145 | TotalAmt |
| Program Services | $263,145 | ProgramServicesAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $225,923 | TotalAmt |
| Program Services | $74,396 | ProgramServicesAmt |
| Management And General | $100,634 | ManagementAndGeneralAmt |
| Fundraising | $50,893 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,712 | TotalAmt |
| Program Services | $1,541 | ProgramServicesAmt |
| Management And General | $2,222 | ManagementAndGeneralAmt |
| Fundraising | $949 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,313 | TotalAmt |
| Fundraising | $6,313 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $23,821 | TotalAmt |
| Program Services | $11,315 | ProgramServicesAmt |
| Management And General | $4,183 | ManagementAndGeneralAmt |
| Fundraising | $8,323 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $111,525 | TotalAmt |
| Management And General | $111,525 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $783,192 | TotalAmt |
| Management And General | $783,192 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $462,209 | TotalAmt |
| Program Services | $86,039 | ProgramServicesAmt |
| Management And General | $359,020 | ManagementAndGeneralAmt |
| Fundraising | $17,150 | FundraisingAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| OTHER | $1,197,917 | $188,060 | $299,056 | $710,801 |
| MAINTENANCE & REPAIRS | $399,650 | $324,406 | $75,244 | |
| EDUCATIONAL | $140,622 | $138,131 | $2,491 | |
| LABORATORY EXPENSE | $1,172 | $1,172 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,063,560 | TotalAmt |
| Program Services | $1,986,557 | ProgramServicesAmt |
| Management And General | $2,795,897 | ManagementAndGeneralAmt |
| Fundraising | $1,281,106 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,657,515 | BOYAmt |
| EOY | $3,409,107 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $333,152 | BOYAmt |
| EOY | $496,434 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $39,939 | BOYAmt |
| EOY | $38,732 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $288,265 | BOYAmt |
| EOY | $319,318 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $28,250,479 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $15,043,659 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,538,598 | BOYAmt |
| EOY | $13,206,820 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,081,051 | BOYAmt |
| EOY | $13,878,333 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,391,680 | BOYAmt |
| EOY | $10,646,631 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $43,330,200 | BOYAmt |
| EOY | $41,995,375 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $599,396 | BOYAmt |
| EOY | $735,762 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,560 | BOYAmt |
| EOY | $31,886 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,311,605 | BOYAmt |
| EOY | $3,873,130 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,913,561 | BOYAmt |
| EOY | $4,640,778 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $37,566,382 | BOYAmt |
| EOY | $36,009,577 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $850,257 | BOYAmt |
| EOY | $1,345,020 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $38,416,639 | BOYAmt |
| EOY | $37,354,597 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $43,330,200 | BOYAmt |
| EOY | $41,995,375 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$1,165,278 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$229,781 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $333,017 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $1,424,365 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,681,008 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $2,144,605 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $2,309,792 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $4,165,650 | CurrentTaxYearAmt |
| Total | $11,725,420 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $1,424,365 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,681,008 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $2,144,605 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $2,309,792 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $4,165,650 | CurrentTaxYearAmt |
| Total | $11,725,420 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total170 | $11,725,420 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $582,320 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $535,741 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $424,105 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $472,996 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $576,430 | CurrentTaxYearAmt |
| Total | $2,591,592 | TotalAmt |
Other Income170 OtherIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $1,211,285 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,550,816 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,183,479 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $3,507,551 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $156,202 | CurrentTaxYearAmt |
| Total | $7,609,333 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $21,926,345 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $655,610 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.53480 | PublicSupportCY170Pct |
| Public Support PY170 | 0.46930 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART II, LINE 10 | 7,609,333 |
| SUPPLEMENTAL INFORMATION | OTHER INCOME AMOUNT SEGREGATED AS FOLLOWS 20,401: NET INCOME FROM STORE SALES 123,268: OTHER INCOME 12,533: ADMISSIONS INCOME |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Art Public Exhibition Amounts ArtPublicExhibitionAmountsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Assets Included | $10,646,631 | AssetsIncludedAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Collection Used Pub Exhibition | Yes (X) | CollectionUsedPubExhibitionInd |
| Coll Used Scholarly Rsrch | Yes (X) | CollUsedScholarlyRsrchInd |
| Collection Used Preservation | Yes (X) | CollectionUsedPreservationInd |
| Coll Used Loan Or Exch Prog | Yes (X) | CollUsedLoanOrExchProgInd |
Collection Used Other Purposes CollectionUsedOtherPurposesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Collection Used Other Purposes | Yes (X) | CollectionUsedOtherPurposesInd |
| Other Purposes | EDUCATIONAL PROGRAMS | OtherPurposesDesc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Solicited Assets Sale | false | SolicitedAssetsSaleInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $532,692 | OtherCostOrOtherBasisAmt |
| Book Value | $532,692 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $22,676,290 | OtherCostOrOtherBasisAmt |
| Depreciation | $11,500,974 | DepreciationAmt |
| Book Value | $11,175,316 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,011,060 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,492,444 | DepreciationAmt |
| Book Value | $518,616 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,030,437 | OtherCostOrOtherBasisAmt |
| Depreciation | $50,241 | DepreciationAmt |
| Book Value | $980,196 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $13,206,820 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (4 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| DEBT SECURITIES | $10,100,950 | F |
| OTHER EQUITY SECURITIES | $2,131,388 | F |
| EQUITY SECURITIES | $823,739 | F |
| MUTUAL FUNDS | $822,256 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $13,878,333 | TotalBookValueSecuritiesAmt |
Other Assets Org OtherAssetsOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | ART COLLECTION, AT COST | Desc |
| Book Value | $10,646,631 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $10,646,631 | TotalBookValueOtherAssetsAmt |
| Total Rev Etc Audited Fincl Stmt | $5,001,518 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | -$229,781 | NetUnrealizedGainsInvstAmt |
| Other Revenue | $333,017 | OtherRevenueAmt |
| Revenue Not Reported | $103,236 | RevenueNotReportedAmt |
| Revenue Subtotal | $4,898,282 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $4,898,282 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $6,063,560 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Subtotal | $6,063,560 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $6,063,560 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE D, PAGE 4, PART XI, LINE 2D | REALIZED GAIN 333,017 |
| SCHEDULE D, PAGE 4, PART XIII | THE PRINCIPAL PURPOSE OF THE LUIS A. FERRE FOUNDATION, INC. (LAFF) IS TO OPERATE, MAINTAIN, CONSERVE, AND EXHIBIT ITS COLLECTION OF ART AT THE MUSEO DE ARTE DE PONCE (MAP), A MUSEUM IN PUERTO RICO ACCREDITED BY THE AMERICAN ASSOCIATION OF MUSEUMS. THE LAFF OWN ONE OF THE FINEST AND MOST IMPORTANT COLLECTIONS OF EUROPEAN ART IN THE WESTERN HEMISPHERE. THROUGH A VARIETY OF PROGRAMS AND STRATEGIESIES, IT SERVES VISITORS TO MORE FULLY APPRECIATE THE CULTURAL, HISTORICAL AND ARTISTIC IMPORTANCE OF THE COLLECTIONS AND TO DEVELOP CRITICAL THOUGHT AND JUDGERMENT THROUGH ART. IT ALSO PROMOTES AWARENESS ABOUT ART AMONG THE YOUNGER GENERATIONS THROUGH MANY OF ITS VARIED EDUCATIONAL OFFERINGS. LAFF'S COLLECTION HAS TRAVELED TO VARIOUS PRESTIGIOUS MUSEUMS, AMONG THEM, THE TATE BRITAIN (LONDON), MUSEO NACIONAL DEL PRADO (MADRID), BELEVERDE MUSEUM IN VIENNE, MUSEO NACIONAL DE SAN CARLOS (MEXICO CITY), THE FRICK COLLECTION (NEW YORK), AND THE LEIGHTON (LONDON). LAFF/MAP PRESENT VARIOUS EXHIBITIONS PER YEAR AND PROVIDES MANY OTHER EDUCATIONAL AND CULTURAL ACTIVITIES, SUCH AS: GUIDED TOURS, SYMPOSIUMS, CREATIONAL AND ARTISTICS WORKSHOPS, AS WELL AS OPEN HOUSES FREE OF COST TO THE PUBLIC. |
Schedule G IRS990ScheduleG
| Field | Value | IRS element (for citing) |
|---|---|---|
| Mail Solicitations | Yes (X) | MailSolicitationsInd |
| Email Solicitations | Yes (X) | EmailSolicitationsInd |
| Phone Solicitations | Yes (X) | PhoneSolicitationsInd |
| In Person Solicitations | Yes (X) | InPersonSolicitationsInd |
| Solicitation Of Non Govt Grants | Yes (X) | SolicitationOfNonGovtGrantsInd |
| Solicitation Of Govt Grants | Yes (X) | SolicitationOfGovtGrantsInd |
| Special Fundraising Events | Yes (X) | SpecialFundraisingEventsInd |
| Agrmt Prof Fundraising Acty | Yes (true) | AgrmtProfFundraisingActyInd |
Fundraiser Activity Info FundraiserActivityInfoGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MCCARTHY STRATEGIES | PersonNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 222 WEST 80TH STREET 6D | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20016 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Activity | CONSULTING | ActivityTxt |
| Fundraiser Control Of Funds | false | FundraiserControlOfFundsInd |
| Retained By Contractor | $204,000 | RetainedByContractorAmt |
| Net To Organization | -$204,000 | NetToOrganizationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Retained By Contractors | $204,000 | TotalRetainedByContractorsAmt |
Fundraising Event Information FundraisingEventInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Event1 | ART PRESERVERS | Event1Nm |
| Gross Receipts Event1 | $586,654 | GrossReceiptsEvent1Amt |
| Charitable Contri Event1 | $586,654 | CharitableContriEvent1Amt |
| Gross Receipts Total | $586,654 | GrossReceiptsTotalAmt |
| Charitable Contributions Tot | $586,654 | CharitableContributionsTotAmt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Housing Allowance Or Residence | Yes (X) | HousingAllowanceOrResidenceInd |
| Written Policy Ref T And E Expnss | Yes (true) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (true) | SubstantiationRequiredInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (true) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | false | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt |
|---|---|---|---|---|---|
| CHERYL HARTUP | |||||
| DIRECTOR | $174,966 | $600 | $10,000 | $2,000 | $187,566 |
| RUBI RODRIGUEZ BUSTILLO | |||||
| DEPUTY DIRECTOR | $135,000 | $21,600 | $3,000 | $159,600 | |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE J, PAGE 1, PART I, LINE 4 | FormAndLineReferenceDesc |
| Explanation | CHERYL HARTUP 0 2,000 0 RUBI RODRIGUEZ BUSTILLO 0 3,000 0 | ExplanationTxt |
Schedule M IRS990ScheduleM
Works Of Art WorksOfArtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 12 | ContributionCnt |
| Noncash Contributions Rpt F990 | $253,950 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | INVOICE | MethodOfDeterminingRevenuesTxt |
Other Non Cash Contri Table OtherNonCashContriTableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Desc | SERVICES | Desc |
| Contribution | 1 | ContributionCnt |
| Noncash Contributions Rpt F990 | $145,889 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | BASED ON INVOICE RECEIVED | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | false | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | Yes (true) | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | false | ThirdPartiesUsedInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (12 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990 - ORGANIZATION'S MISSION | THE PRINCIPAL PURPOSE OF THE LUIS A. FERRE FOUNDATION, INC. (LAFF) IS TO OPERATE, MAINTAIN, CONSERVE, AND EXHIBIT ITS COLLECTION OF ART AT THE MUSEO DE ARTE DE PONCE (MAP), A MUSEUM IN PUERTO RICO ACCREDITED BY THE AMERICAN ALLIANCE OF MUSEUMS. LAFF OWNS ONE OF THE FINEST AND MOST IMPORTATNT COLLECTIONS OF EUROPEAN ART IN THE WESTERN HEMISPHERE. MUSEO DE ARTE DE PONCE CONNECTS THE COMMUNITY WITH THE RICHNESS OF THE WESTERN ART AND ITS MAKERS, FROM THE FOURTEENTH CENTURY TO THE PRESENT. IT INVITES DISCOVERY, STIMULATES CURIOSITY AND FOSTERS DIALOGUE. AS PART OF ITS OBJECTIVES, IT SEEKS TO PROMOTE APPRECIATION OF ART, OFFERS EDUCATIONAL AND RECREATIONAL RESOURCES, AND ESTABLISHES TIES WITH DISADVANTAGED COMMUNITIES IN PUERTO RICO. |
| FORM 990 | DURING THE FISCAL YEAR, THE ORGANIZATION CONTINUED WITH ITS EXPANSION AND CONTINUITY OF HIGH IMPACT COMMUNITY OUTREACH ACTIVITIES THROUGH PROGRAMS WITH PUBLIC SCHOOLS, CENTERS FOR THE ELDERLY, CENTERS DEDICATED TO AIDING THE HOMELESS POPULATION, AMONG OTHER VULNERABLE COMMUNITIES. |
| FORM 990, PAGE 6, PART VI, LINE 2 | MARIA LUISA FERRE RANGEL ANTONIO LUIS FERRE RANGEL TRUSTEE TRUSTEE BROTHERS FERRE RANGEL TRIGO FERRE TRUSTEES TRUSTEE COUSINS |
| FORM 990, PAGE 6, PART VI, LINE 6 | THE MEMBERS OF THE CORPORATION SHALL NOT BE LESS THAN FOUR. MEMBERS SHOULD BE RESTRICTED TO THE IMMEDIATE FAMILY AND DIRECT DESCENDANTS OF ANTONIO LUIS AND ROSARIO JOSEFINA FERRE RAMIREZ DE ARELANO. EQUAL REPRESENTATION AMONG THE MEMBERS SHALL BE ATTAINED AT ALL TIMES BETWEEN THE STRIPS OF ANTONIO LUIS AND ROSARIO JOSEFINA FERRE RAMIREZ DE ARELLANO. EXISTING MEMBERS MAY ELECT OTHER MEMBERS AND SHALL FILL VACANCIES CAUSED BY DEATH, RESIGNATION OR OTHER CAUSES. |
| FORM 990, PAGE 6, PART VI, LINE 7A | THE MEMBERS OF THE CORPORATION SHALL NOT BE LESS THAN FOUR. MEMBERS SHOULD BE RESTRICTED TO THE IMMEDIATE FAMILY AND DIRECT DESCENDANTS OF ANTONIO LUIS AND ROSARIO JOSEFINA FERRE RAMIREZ DE ARELANO. EQUAL REPRESENTATION AMONG THE MEMBERS SHALL BE ATTAINED AT ALL TIMES BETWEEN THE STRIPS OF ANTONIO LUIS AND ROSARIO JOSEFINA FERRE RAMIREZ DE ARELLANO. EXISTING MEMBERS MAY ELECT OTHER MEMBERS AND SHALL FILL VACANCIES CAUSED BY DEATH, RESIGNATION OR OTHER CAUSES. |
| FORM 990, PAGE 6, PART VI, LINE 7B | THE MEMBERS OF THE CORPORATION SHALL NOT BE LESS THAN FOUR. MEMBERS SHOULD BE RESTRICTED TO THE IMMEDIATE FAMILY AND DIRECT DESCENDANTS OF ANTONIO LUIS AND ROSARIO JOSEFINA FERRE RAMIREZ DE ARELANO. EQUAL REPRESENTATION AMONG THE MEMBERS SHALL BE ATTAINED AT ALL TIMES BETWEEN THE STRIPS OF ANTONIO LUIS AND ROSARIO JOSEFINA FERRE RAMIREZ DE ARELLANO. EXISTING MEMBERS MAY ELECT OTHER MEMBERS AND SHALL FILL VACANCIES CAUSED BY DEATH, RESIGNATION OR OTHER CAUSES. |
| FORM 990, PAGE 6, PART VI, LINE 11B | THE RETURN IS PREPARED BY ALVARADO TAX & BUSINESS ADVISORS LLC (EXTERNAL TAX ADVISORS). INFORMATION REPORTED IN THE RETURN IS PROVIDED BY MANAGEMENT OF THE LUIS A. FERRE FOUNDATION, INC. DURING THE PREPARATION OF THE RETURN ALVARADO TAX & BUSINESS ADVIOSRS LLC AND MANAGEMNT ARE IN CONSTANT COMMUNICATION SHARING AND CONFIRMING THE INFORMATION REPORTED IN THE RETURN. WHEN COMPLETED, THE RETURNS IS PROVIDED TO THE ORGANIZATION'S MANAGEMENT FOR THE FINAL REVIEW PRIOR TO FILING. |
| FORM 990, PAGE 6, PART VI, LINE 12C | TO EACH HIRED EMPLOYEE THE COMPANY PROVIDES AN EMPLOYEE MANUAL ON WHICH THE CONFLICT OF INTEREST POLICY IS ADDRESSED. AT THE MOMENT OF HIRING, THE EMPLOYEE SIGNS A DOCUMENT CERTIFYNG THAT THEY RECEIVED THE EMPLOYEE MANUAL AND THEY ALSO CERTIFY THAT THEY HAVE RECEIVED THE CONFLICT OF INTEREST POLICY. IF ANY OF THE POLICY'S STANDARDS ARE VIOLATED BY ANY EMPLOYEE THE FOUNDATION TAKES CORRESPONDING DISCIPLINARY ACTION, WHICH MAY INLCUDE IMMEDIATE DISMISSAL OF THE EMPLOYEE. |
| FORM 990, PAGE 6, PART VI, LINE 15A | THE COMPANY ENGAGES AN INDEPENDENT COMPENSATION CONSULTANT TO HELP HIRE AND DETERMINE THE COMPENSATION OF THE OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION. THE FOUNDATION ALSO USES COMPENSATION SURVEYS OF SIMILAR FOUNDATIONS. THE BOARD APPROVES THE COMPENSATION FOR THE KEY EMPLOYEES AND OFFICERS AND IN SOME INSTANCES A WRITTEN EMPLOYMENT CONTRACT IS SIGNED. |
| FORM 990, PAGE 6, PART VI, LINE 15B | THE COMPANY ENGAGES AN INDEPENDENT COMPENSATION CONSULTANT TO HELP HIRE AND DETERMINE THE COMPENSATION OF THE OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION. THE FOUNDATION ALSO USES COMPENSATION SURVEYS OF SIMILAR FOUNDATIONS. THE BOARD APPROVES THE COMPENSATION FOR THE KEY EMPLOYEES AND OFFICERS AND IN SOME INSTANCES A WRITTEN EMPLOYMENT CONTRACT IS SIGNED. |
| FORM 990, PAGE 6, PART VI, LINE 19 | THESE DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. SOME OF THEM ARE AVAILABLE THROUGH THE ORGANIZATION'S WEBSITE. |
| FORM 990, PART XI, LINE 9 | GAIN ON SALE OF INVESTMENT 333,017 |
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