LUIS A FERRE FOUNDATION INC: Form 990, tax year 2023

View the entire original 990 at ProPublica ↗

Organization: LUIS A FERRE FOUNDATION INC (EIN 66-0235625)
Tax period: 2023-07-01 to 2024-06-30
Filed: 2025-05-15
IRS object ID: 202521359349305472
Schema version: 2023v6.0
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
Form 990
Schedule A
Schedule B
Schedule D
Schedule G
Schedule J
Schedule M
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2025-05-15T11:47:19-04:00	ReturnTs
Tax Period End	2024-06-30	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	2023-07-01	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	TREASURER	PersonTitleTxt
Phone	7876418070	PhoneNum
Signature	2025-05-14	SignatureDt

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	2025-05-15	PreparationDt

Field	Value	IRS element (for citing)
Tax	2023	TaxYr
Build TS	2025-03-06 01:10:19Z	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	$5,264,045	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	$4,165,650	PYContributionsGrantsAmt
CY Contributions Grants	$4,272,240	CYContributionsGrantsAmt
PY Program Service Revenue	$12,533	PYProgramServiceRevenueAmt
CY Program Service Revenue	$18,849	CYProgramServiceRevenueAmt
PY Investment Income	$573,280	PYInvestmentIncomeAmt
CY Investment Income	$626,695	CYInvestmentIncomeAmt
PY Other Revenue	$146,819	PYOtherRevenueAmt
CY Other Revenue	$321,064	CYOtherRevenueAmt
PY Total Revenue	$4,898,282	PYTotalRevenueAmt
CY Total Revenue	$5,238,848	CYTotalRevenueAmt
CY Grants And Similar Paid	$0	CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$1,945,419	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$1,928,301	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$22,456	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$174,647	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$1,348,560	CYTotalFundraisingExpenseAmt
PY Other Expenses	$4,095,685	PYOtherExpensesAmt
CY Other Expenses	$3,608,894	CYOtherExpensesAmt
PY Total Expenses	$6,063,560	PYTotalExpensesAmt
CY Total Expenses	$5,711,842	CYTotalExpensesAmt
PY Revenues Less Expenses	-$1,165,278	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	-$472,994	CYRevenuesLessExpensesAmt
Total Assets BOY	$41,995,375	TotalAssetsBOYAmt
Total Assets EOY	$42,907,634	TotalAssetsEOYAmt
Total Liabilities BOY	$4,640,778	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$4,646,784	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$37,354,597	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$38,260,850	NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part III	Yes (X)	InfoInScheduleOPartIIIInd
Mission	THE PRINCIPAL PURPOSE OF THE LUIS A. FERRE FOUNDATION, INC. (LAAF) 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	$1,824,849	ExpenseAmt
Revenue	$18,849	RevenueAmt
Desc	SEE SCHEDULE O	Desc
Total Program Service Expenses	$1,824,849	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 (17 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
RAFAEL COX ALOMAR
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
CARLOS G MARTINEZ RIVERA
TREASURER		Yes (X)	$0	$0	$0
CHERYL HARTUP
DIRECTOR			$222,433	$0	$0	Yes (X)
RUBI RODRIGUEZ BUSTILLO
DEPUTY DIREC			$204,501	$0	$3,000	Yes (X)
FLORIBETH ANCIANI
FINANCE DIRE			$238,587	$0	$0	Yes (X)
HECTOR GUILLERMO MARTINEZ
TRUSTEE	Yes (X)		$0	$0	$0

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$665,521	TotalReportableCompFromOrgAmt
Total Other Compensation	$3,000	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	Address Line2ContractorAddress/USAddress/AddressLine2Txt
CPM PR LLC
PO BOX 9024051	SAN JUAN	PR	00902	CONSULTING	$211,604
ST JAMES SECURITY SERVICES LLC
PO BOX 270027	SAN JUAN	PR	009282827	SECURITY	$157,479
BFWD LLC
404 AVE DE LA CONSTITUCION	SAN JUAN	PR	00901	CONSULTING	$147,655	APT 16
DCMC LLC
DEPT 233 PO BOX 1000	MEMPHIS	TN	38148	CONSULTING	$123,517
COLLEEN MCCARTHY
222 WEST 80TH STREET 6D	NEW YORK	NY	10024	CONSULTING	$120,000

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	5	CntrctRcvdGreaterThan100KCnt
Fundraising	$1,319,541	FundraisingAmt
Government Grants	$866,001	GovernmentGrantsAmt
All Other Contributions	$2,086,698	AllOtherContributionsAmt
Noncash Contributions	$831,754	NoncashContributionsAmt
Total Contributions	$4,272,240	TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp

Field	Value	IRS element (for citing)
Desc	ADMISSIONS	Desc
Total Revenue Column	$18,849	TotalRevenueColumnAmt
Related Or Exempt Func Income	$18,849	RelatedOrExemptFuncIncomeAmt

Field	Value	IRS element (for citing)
Total Program Service Revenue	$18,849	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$626,695	TotalRevenueColumnAmt
Exclusion	$626,695	ExclusionAmt

Gross Rents GrossRentsGrp

Field	Value	IRS element (for citing)
Real	$2,875	RealAmt

Rental Income Or Loss RentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Real	$2,875	RealAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$2,875	TotalRevenueColumnAmt
Exclusion	$2,875	ExclusionAmt

Field	Value	IRS element (for citing)
Contri Rpt Fundraising Event	$1,319,541	ContriRptFundraisingEventAmt
Gross Sales Of Inventory	$42,455	GrossSalesOfInventoryAmt
Cost Of Goods Sold	$25,197	CostOfGoodsSoldAmt

Net Income Or Loss NetIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$17,258	TotalRevenueColumnAmt
Exclusion	$17,258	ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp

Field	Value	IRS element (for citing)
Desc	OTHER INCOME	Desc
Total Revenue Column	$300,931	TotalRevenueColumnAmt
Exclusion	$300,931	ExclusionAmt

Field	Value	IRS element (for citing)
Other Revenue Total	$300,931	OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$5,238,848	TotalRevenueColumnAmt
Related Or Exempt Func Income	$18,849	RelatedOrExemptFuncIncomeAmt
Exclusion	$947,759	ExclusionAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$1,787,173	TotalAmt
Program Services	$802,550	ProgramServicesAmt
Management And General	$501,274	ManagementAndGeneralAmt
Fundraising	$483,349	FundraisingAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$141,128	TotalAmt
Program Services	$61,103	ProgramServicesAmt
Management And General	$35,208	ManagementAndGeneralAmt
Fundraising	$44,817	FundraisingAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$40,395	TotalAmt
Management And General	$40,395	ManagementAndGeneralAmt

Fees For Services Prof Fundraising FeesForServicesProfFundraising

Field	Value	IRS element (for citing)
Total	$174,647	TotalAmt
Fundraising	$174,647	FundraisingAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

Field	Value	IRS element (for citing)
Total	$234,184	TotalAmt
Management And General	$234,184	ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$469,583	TotalAmt
Program Services	$469,583	ProgramServicesAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$307,760	TotalAmt
Program Services	$24,721	ProgramServicesAmt
Management And General	$104,306	ManagementAndGeneralAmt
Fundraising	$178,733	FundraisingAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$4,638	TotalAmt
Program Services	$1,359	ProgramServicesAmt
Management And General	$2,308	ManagementAndGeneralAmt
Fundraising	$971	FundraisingAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$8,826	TotalAmt
Fundraising	$8,826	FundraisingAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$23,605	TotalAmt
Program Services	$16,620	ProgramServicesAmt
Management And General	$541	ManagementAndGeneralAmt
Fundraising	$6,444	FundraisingAmt

Interest InterestGrp

Field	Value	IRS element (for citing)
Total	$99,769	TotalAmt
Management And General	$99,769	ManagementAndGeneralAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$804,213	TotalAmt
Management And General	$804,213	ManagementAndGeneralAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$499,333	TotalAmt
Program Services	$85,847	ProgramServicesAmt
Management And General	$392,904	ManagementAndGeneralAmt
Fundraising	$20,582	FundraisingAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt	Program ServicesProgramServicesAmt	Management And GeneralManagementAndGeneralAmt	FundraisingFundraisingAmt
OTHER	$778,576	$86,572	$264,013	$427,991
MAINTENANCE & REPAIRS	$216,297	$156,979	$59,318
EDUCATIONAL	$119,832	$117,632		$2,200
LABORATORY EXPENSE	$1,883	$1,883

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$5,711,842	TotalAmt
Program Services	$1,824,849	ProgramServicesAmt
Management And General	$2,538,433	ManagementAndGeneralAmt
Fundraising	$1,348,560	FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$3,409,107	BOYAmt
EOY	$3,964,121	EOYAmt

Accounts Receivable AccountsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$496,434	BOYAmt
EOY	$517,962	EOYAmt

Inventories For Sale Or Use InventoriesForSaleOrUseGrp

Field	Value	IRS element (for citing)
BOY	$38,732	BOYAmt
EOY	$39,562	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$319,318	BOYAmt
EOY	$333,392	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$28,291,085	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$15,847,873	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$13,206,820	BOYAmt
EOY	$12,443,212	EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

Field	Value	IRS element (for citing)
BOY	$13,878,333	BOYAmt
EOY	$14,341,257	EOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$10,646,631	BOYAmt
EOY	$11,268,128	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$41,995,375	BOYAmt
EOY	$42,907,634	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$735,762	BOYAmt
EOY	$996,784	EOYAmt

Deferred Revenue DeferredRevenueGrp

Field	Value	IRS element (for citing)
BOY	$31,886	BOYAmt
EOY	$5,395	EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

Field	Value	IRS element (for citing)
BOY	$3,873,130	BOYAmt
EOY	$3,644,605	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$4,640,778	BOYAmt
EOY	$4,646,784	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	$36,009,577	BOYAmt
EOY	$36,306,783	EOYAmt

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$1,345,020	BOYAmt
EOY	$1,954,067	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$37,354,597	BOYAmt
EOY	$38,260,850	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$41,995,375	BOYAmt
EOY	$42,907,634	EOYAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part XI	Yes (X)	InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss	-$472,994	ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst	$1,261,164	NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets	$118,083	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	$1,681,008	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$2,144,605	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$2,309,792	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$4,165,650	CurrentTaxYearMinus1YearAmt
Current Tax Year	$4,272,240	CurrentTaxYearAmt
Total	$14,573,295	TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$1,681,008	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$2,144,605	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$2,309,792	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$4,165,650	CurrentTaxYearMinus1YearAmt
Current Tax Year	$4,272,240	CurrentTaxYearAmt
Total	$14,573,295	TotalAmt

Field	Value	IRS element (for citing)
Public Support Total170	$14,573,295	PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$535,741	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$424,105	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$472,996	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$576,430	CurrentTaxYearMinus1YearAmt
Current Tax Year	$629,570	CurrentTaxYearAmt
Total	$2,638,842	TotalAmt

Other Income170 OtherIncome170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$1,550,816	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$1,183,479	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$3,507,551	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$156,202	CurrentTaxYearMinus1YearAmt
Current Tax Year	$343,388	CurrentTaxYearAmt
Total	$6,741,436	TotalAmt

Field	Value	IRS element (for citing)
Total Support	$23,953,573	TotalSupportAmt
Gross Receipts Rltd Activities	$298,937	GrossReceiptsRltdActivitiesAmt
Public Support CY170	0.60840	PublicSupportCY170Pct
Public Support PY170	0.53480	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	6,741,436
SUPPLEMENTAL INFORMATION	OTHER INCOME AMOUNT SEGREGATED AS FOLLOWS 23,608: INCOME FROM STORE SALES 300,931: OTHER INCOME 18,849: 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	$11,268,128	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	$12,188,798	DepreciationAmt
Book Value	$10,487,492	BookValueAmt

Equipment EquipmentGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$4,056,025	OtherCostOrOtherBasisAmt
Depreciation	$3,608,834	DepreciationAmt
Book Value	$447,191	BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$1,026,078	OtherCostOrOtherBasisAmt
Depreciation	$50,241	DepreciationAmt
Book Value	$975,837	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$12,443,212	TotalBookValueLandBuildingsAmt

Other Securities OtherSecuritiesGrp (6 entries)

DescDesc	Book ValueBookValueAmt	Method ValuationMethodValuationCd
DEBT SECURITIES	$5,502,053	F
MUTUAL FUNDS	$2,621,830	F
EQUITY SECURITIES	$2,276,920	F
EXCHANGE TRADE FUNDS	$2,251,979	F
OTHER EQUITY SECURITIES	$858,166	F
HEDGE FUNDS	$830,309	F

Field	Value	IRS element (for citing)
Total Book Value Securities	$14,341,257	TotalBookValueSecuritiesAmt

Other Assets Org OtherAssetsOrgGrp

Field	Value	IRS element (for citing)
Desc	ART COLLECTION, AT COST	Desc
Book Value	$11,268,128	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Other Assets	$11,268,128	TotalBookValueOtherAssetsAmt
Total Rev Etc Audited Fincl Stmt	$6,618,095	TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst	$1,261,164	NetUnrealizedGainsInvstAmt
Other Revenue	$118,083	OtherRevenueAmt
Revenue Not Reported	$1,379,247	RevenueNotReportedAmt
Revenue Subtotal	$5,238,848	RevenueSubtotalAmt
Total Revenue Per Form990	$5,238,848	TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt	$5,711,842	TotExpnsEtcAuditedFinclStmtAmt
Expenses Subtotal	$5,711,842	ExpensesSubtotalAmt
Total Expenses Per Form990	$5,711,842	TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc

ExplanationExplanationTxt

SCHEDULE D, PAGE 4, PART XI, LINE 2D

REALIZED GAIN 118,083

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	NEW YORK	CityNm
State Abbreviation	NY	StateAbbreviationCd
ZIP	10024	ZIPCd

Field	Value	IRS element (for citing)
Activity	CONSULTING	ActivityTxt
Fundraiser Control Of Funds	false	FundraiserControlOfFundsInd
Retained By Contractor	$120,000	RetainedByContractorAmt
Net To Organization	-$120,000	NetToOrganizationAmt

Field	Value	IRS element (for citing)
Total Retained By Contractors	$120,000	TotalRetainedByContractorsAmt

Fundraising Event Information FundraisingEventInformationGrp

Field	Value	IRS element (for citing)
Event1	GALA 2023 ACTIV	Event1Nm
Gross Receipts Event1	$967,460	GrossReceiptsEvent1Amt
Charitable Contri Event1	$967,460	CharitableContriEvent1Amt
Event2	ART PRESERVERS	Event2Nm
Gross Receipts Event2	$352,081	GrossReceiptsEvent2Amt
Charitable Contri Event2	$352,081	CharitableContriEvent2Amt
Gross Receipts Total	$1,319,541	GrossReceiptsTotalAmt
Charitable Contributions Tot	$1,319,541	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 (3 entries)

TitleTitleTxt	Base Compensation Filing OrgBaseCompensationFilingOrgAmt	Bonus Filing OrganizationBonusFilingOrganizationAmount	Other Compensation Filing OrgOtherCompensationFilingOrgAmt	Total Compensation Filing OrgTotalCompensationFilingOrgAmt	Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt
CHERYL HARTUP
DIRECTOR	$175,000	$39,100	$8,333	$222,433
RUBI RODRIGUEZ BUSTILLO
DEPUTY DIRECTOR	$162,501	$42,000		$207,501	$3,000
FLORIBETH ANCIANI
FINANCE DIRECTOR	$58,843	$179,744		$238,587

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	SCHEDULE J, PAGE 1, PART I, LINE 4	FormAndLineReferenceDesc
Explanation	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	11	ContributionCnt
Noncash Contributions Rpt F990	$621,500	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	$210,254	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. (LAAF) 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 118,083