2023-01-31T15:54:10-05:00 2021-12-31 KEVANE GRANT THORNTON LLP 33 CALLE BOLIVIA STE 400 SAN JUAN PR 009172013 990 2021-01-01 660776227 FOUNDATION FOR PUERTO RICO INC FOUN 7877731100 PO BOX 364029 SAN JUAN PR 009364029 DAMARIS OCASIO NIEVES CFO 7877731100 2023-01-27 DAMARIS OCASIO XXX-XX-XXXX LINA MORALES P00195960 7877541915 2023-01-31 2021 2023-03-07 01:45:13Z JONATHAN BORSCHOW PO BOX 364029 SAN JUAN PR 009364029 19310381 false X WWW.FOUNDATIONFORPUERTORICO.ORG X 2011 PR FOUNDATION FOR PUERTO RICO, INC. (FPR) WORKS WITH A DEFINED PLAN TO DEVELOP PUERTO RICO'S 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. 13 13 61 436 0 5172571 7257654 0 13965 3821 32090 217324 5218626 7478799 194735 68700 0 2758551 3406233 65469 279533 718982 2953919 3546699 5972674 7301165 -754048 177634 3606933 4538825 1776662 2481523 1830271 2057302 X 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. false false 1501956 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. 2743895 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". 545838 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. SCALLING UP FOR INNOVATION - SUPPORTS AND COLLABORATES TO BUILD THE CAPACITY OF NON-PROFIT ORGANIZATIONS SO THEY MAY INNOVATE, BECOME COMPETITIVE, AND TAKE ADVANTAGE OF GLOBAL OPPORTUNITIES. 4791689 true true false false false false false true false false true false false false true false true false false false false false false true true false false true true true false false false false false false false false false false false false false false false false false true 0 0 61 true false false false false false false false false false false false false X 13 13 true false false false false false false true true false false false true true true false false false false false PR X DAMARIS OCASIO NIEVES 7877731100 PO BOX 364029 SAN JUAN PR 009364029 DAMARIS OCASIO NIEVES CFO 40.00 X X 171439 0 0 ANNIE MAYOL DEL VALLE PRESIDENT 40.00 X X 155475 0 0 ANA M LOPEZ VP MARKETING 40.00 X 124815 0 0 ALEXANDRA LUGARO EXECUTIVE DI 40.00 X 105088 0 0 ALEXANDER BORSCHOW DIRECTOR X 0 0 0 JONATHAN BORSCHOW CHAIRMAN X X 0 0 0 RONALD CASTRO DIRECTOR X 0 0 0 MILTON CRUZ DIRECTOR X 0 0 0 GRACIELA ELETA VICE-CHAIRWO X 0 0 0 RAMON MELLADO TREASURER X 0 0 0 RAFAEL ORTIZ DIRECTOR X 0 0 0 JUAN A RAMOS DIRECTOR X 0 0 0 INGRID RIVERA SECRETARY X 0 0 0 JUAN SABATER DIRECTOR X 0 0 0 ZULMARIE URRUTIA DIRECTOR X 0 0 0 556817 4 false true false INTEGRATED SOLAR OPERATION LLC PO BOX 9731 SAN JUAN PR 00908 SUPPLIES 361176 POWERCOMM INC PO BOX 140607 ARECIBO PR 00614 SUPPLIES 325961 STREETSENSE CONSULTING LLC 3 BETHESDA METRO SUITE 140 BETHESDA MD 20814 CONSULTING 215781 PUTNAM LAC HOLDING LLC 1511 AVE PONCE DE LEON SUITE 3 SAN JUAN PR 00909 RENT 184784 ABEXUS LLC 120 CHARDON AVE BOX 050 SAN JUAN PR 00918 CONSULTING 180000 7 264941 468100 6524613 7257654 1367 1367 6487 6487 6487 6487 11834036 11831582 2454 2454 2454 264941 OTHER REVENUE 186000 186000 SHARED SERVICES 24837 24837 210837 7478799 214658 6487 X 63000 63000 5700 5700 326914 191065 97357 38492 2757013 1611335 821065 324613 66587 38917 19830 7840 255719 149455 76155 30109 15246 15246 50350 50350 279533 279533 1317827 1089488 228339 114064 112381 146 1537 90413 3439 65123 21851 41975 36755 1578 3642 48730 48730 22932 22932 205574 125962 79612 22512 41 22471 MATERIALS AND SUPPLIES 1317782 1309262 1164 7356 FACILITIES 241766 241766 MEMBERSHIPS AND SUBSCRIPT 45199 3323 40114 1762 MEALS AND ACTIVITIES 5309 836 4206 267 7020 2000 3040 1980 7301165 4791689 1790494 718982 1678052 2230123 1086684 1648282 16214 16587 2007170 1363337 825983 643833 3606933 4538825 900662 1144956 380000 285000 496000 1051567 1776662 2481523 X 1119555 213017 710716 1844285 1830271 2057302 3606933 4538825 177634 -244 49641 X false true X true false X 9696595 5339544 3992979 5172571 7257654 31459343 9696595 5339544 3992979 5172571 7257654 31459343 2842101 28617242 59077 74657 77185 1521 7854 220294 32078 210837 242915 31922552 483851 0.89650 0.91050 X PART II, LINE 10 242,915 SUPPLEMENTAL INFORMATION SCHEDULE A,PART II, LINE 10 - EXCLUDES CAPITAL GAIN OF 2,454 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X ART WORKS COLLECTION false 1388735 961852 426883 352023 233839 118184 266412 167646 98766 643833 LINE OF CREDIT - BORSCHOW CHARITABLE 903661 ECONOMIC INJURY DISASTER LOAN 147906 1051567 7528196 -244 49641 49397 7478799 7478799 7301165 7301165 7301165 SCHEDULE D, PAGE 4, PART XIII THE WORKS OF ARTS WERE COMMISIONED AS PART OF A CONTEST MADE FOR LOCAL ARTISTS OF THE COMMUNITY. X X false END OF YEAR GIV 143769 143769 GIVING TUESDAY 95906 95906 1 25266 25266 264941 264941 true FUNDACION FONDO DE ACCESO A LA JUST EDIF COMERCIAL 18 AVE RH TODD 880 SANTURCE PR 00907 660831102 53000 BOOK GRANTEE PER CONTRACT KIVA 606 BARBOSA AVENUE JUAN C CORDERO BUILDING SAN JUAN PR 00918 10000 BOOK 2 SEED FUNDING 1 5700 BOOK SCHEDULE I, PAGE 4, PART IV THE ORGANIZATION GIVES FOLLOW UP TO OVERSEE EVOLUTION OF BUSINESS. false false false false false false false false false DAMARIS OCASIO NIEVES CFO 171439 171439 ANNIE MAYOL DEL VALLE PRESIDENT 155475 155475 FORM 990 - ORGANIZATION'S 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. FORM 990, PAGE 2, PART III, LINE 4D SCALLING UP FOR INNOVATION - SUPPORTS AND COLLABORATES TO BUILD THE CAPACITY OF NON-PROFIT ORGANIZATIONS SO THEY MAY INNOVATE, BECOME COMPETITIVE, AND TAKE ADVANTAGE OF GLOBAL OPPORTUNITIES. FORM 990, PAGE 6, PART VI, LINE 2 JONATHAN BORSCHOW ALEXANDER BORSCHOW CEO DIRECTOR FATHER & SON FORM 990, PAGE 6, PART VI, LINE 11B PRIOR TO FILING OF FORM 990, MS.DAMARIS OCASIO, CHIEF FINANCIAL OFFICER, WILL REVIEW A DRAFT OF THE FORM. COMMENTS OR CHANGES SUGGESTED WILL BE APPILED IN ORDER FOR THE ENTITY TO SUBMIT THE FORM TO THE INTERNAL REVENUE SERVICE FOR FILING. FORM 990, PAGE 6, PART VI, LINE 12C EACH DIRECTOR SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSONS HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY AND HAS AGREED TO COMPLY WITH THE POLICY. DUTY TO DISCLOSE- IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON (ANY MEMBER, DIRECTOR OR OFFICER WHO HAS A DIRECT OR INDIRECT FINANCIAL INTEREST) MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD OF DIRECTORS OR COMMITTEE MEETING. DETERMINING WHETHER A CONFLICT OF INTEREST EXISTS- AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS AND AFTER ANY PRESENTATION BY AND DISCUSSION WITH THE INTERESTED PERSON, THE INTERESTED PERSON SHALL LEAVE, THE BOARD OF DIRECTORS OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING DIRECTORS OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. PROCEDURES FOR ADDRESSING THE CONFLICT OF INTEREST- THE CHAIRMAN OF THE BOARD OF DIRECTORS OF CHAIRPERSON OF THE COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE BOARD OF DIRECTORS OR COMMITTEE SHALL DETERMINE WHETHER THE FOUNDATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE BOARD OF DIRECTORS OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS OR COMMITTEE MEMBERS WHETHER THE TRANSACTION OR ARRANGEMENTS IS IN THE FOUNDATIONS'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION, IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO A TRANSACTION OR ARRANGEMENT. VIOLATION OF THE CONFLICT OF INTEREST POLICY- IF THE BOARD OF DIRECTORS OR COMMITTEE HAS A REASONABLE CAUSE TO BELIEVE A MEMBER, DIRECTOR OR OFFICER HAS REASONABLE CAUSE TO BELIEVE A MEMBER, DIRECTOR OR OFFICER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM SUCH MEMBER, DIRECTOR OR OFFICER OF THE BASIS FOR SUCH BELIEF AND AFFORD SUCH MEMBER, DIRECTOR OR OFFICER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S DIRECTOR'S OF OFFICER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE BOARD OF DIRECTORS OR COMMITTEE DETERMINED THE MEMBER, DIRECTOR OR OFFICER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PAGE 6, PART VI, LINE 19 NO DOCUMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 11G OPERATIONS & SUPPORT 97,050 20,339 0 HUMAN RESOURCES 6,491 1,360 0 COMMUNICATIONS 7,481 1,568 0 FINANCE & PROCUREMENT 52,030 10,904 0 DEVELOPMENT & FUNDRAISIN 186,615 39,112 0 BOTTOM UP DESTINATION RE 521,877 109,378 0 VE RESEARCH, POLICY & AN 41,779 8,756 0 STAKEHOLDER ENGAGEMENT 30,010 6,290 0 COMMUNITY RESILIENCY PLA 85,334 17,885 0 BU NON EDA 20,105 4,214 0 SMAL BUSINESS SUPPORT 40,716 8,533 0 TOTAL 1,089,488 228,339 0