2021-11-12T09:07:23-06:00 2020-12-31 660563256 KEVANE GRANT THORNTON LLP 33 CALLE BOLIVIA STE 400 SAN JUAN PR 009172013 990 2020-01-01 660776227 FOUNDATION FOR PUERTO RICO INC FOUN 7877731100 PO BOX 364029 SAN JUAN PR 009364029 DAMARIS OCASIO NIEVES CFO 7877731100 2021-11-11 DAMARIS OCASIO XXX-XX-XXXX LINA MORALES P00195960 7877541915 2021-11-12 2020 2022-09-23 18:48:47Z JONATHAN BORSCHOW PO BOX 364029 SAN JUAN PR 009364029 30497491 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. 12 12 58 7 0 3992979 5172571 0 77185 13965 197427 32090 4267591 5218626 2434716 194735 0 2243487 2758551 65469 418183 3126067 2953919 7804270 5972674 -3536679 -754048 3605343 3606933 1062508 1776662 2542835 1830271 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 1464884 RESILIENCY INITIATIVES - SUPPORTS THE REBUILDING AND RECOVERY OF THE ISLAND THROUGH ECONOMIC DEVELOPMENT STRATEGIES, WHILE PROVIDING MENTORSHIP AND INSPIRATION TO A NEW GENERATION OF RESILIENT COMMUNITIES THAT WILL BE PREPARED TO SURVIVE AND EVEN THRIVE IN THE FACE OF UNFORSEEN ADVERSITY. 2339744 ECONOMIC DEVELOPMENT INITIATIVES - SEEKS TO IMPLEMENT ECONOMIC DEVELOPMENT STRATEGIES IN THE COMMUNITIES OF PUERTO RICO WHILE MAXIMIZING OUR ASSETS AND SUPPORT ORGANIZATIONS THAT HELP STRENGTHEN OUR SOCIAL CAPITAL AND THE ENTREPRENEURIAL ECOSYSTEM. 207064 POLICY, RESEARCH, AND INNOVATION INITIATIVES - DRIVES INNOVATION THROUGH POLICY AND RESEARCH, SHARING KNOWLEDGE AND BEST PRACTICES, WHILE 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. 20685 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. 20685 4032377 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 58 true false false false false false false false false false false false false X 12 12 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 ANNIE MAYOL DEL VALLE PRESIDENT & 40.00 X X 224850 0 0 DAMARIS OCASIO NIEVES CFO 40.00 X X 161605 0 0 JONATHAN BORSCHOW CHAIRMAN & C X X 0 0 0 GRACIELA ELETA VICE-CHAIRWO X 0 0 0 RAFAEL ORTIZ TREASURER X 0 0 0 INGRID RIVERA SECRETARY X 0 0 0 RAMON MELLADO DIRECTOR X 0 0 0 MILTON CRUZ DIRECTOR X 0 0 0 JUAN A RAMOS DIRECTOR X 0 0 0 DANERIS FERNANDEZ DIRECTOR X 0 0 0 RONALD CASTRO DIRECTOR X 0 0 0 ALEXANDER BORSCHOW DIRECTOR X 0 0 0 VICENTE FELICIANO DIRECTOR X 0 0 0 FEDERICO J SANCHEZ DIRECTOR X 0 0 0 JAVIER SAADE DIRECTOR X 0 0 0 JUAN SABATER DIRECTOR X 0 0 0 ANA M LOPEZ VP MARKETING 40.00 X 120215 0 0 ALMA M FRONTERA DIRECTOR OF 40.00 X 104402 0 0 611072 4 false true false STREETSENSE CONSULTING LLC 3 BETHESDA METROSUITE 140 BETHESDA MD 20814 CONSULTING 331766 PUTNAM LAC HOLDING LLC 1511 AVE PONCE DE LEON SUITE 3 SAN JUAN PR 009090000 RENT 212474 INPRENDE LLC PO BOX 11419 SAN JUAN PR 00922 CONSULTING 172350 POWERCOMM INC PO BOX 140607 ARECIBO PR 00614 INSTALLATION 114668 4 69176 3240955 1862440 5172571 1446 1446 75 75 75 75 25291384 25278865 12519 12519 12519 69176 SHARE SERVICES 32015 32015 32015 5218626 45980 75 X 92185 92185 102550 102550 386455 219549 124928 41978 2116345 1202317 684147 229881 54748 31103 17698 5947 201003 114192 64978 21833 18902 18902 50350 50350 65469 65469 1789868 1504373 285495 50723 48135 671 1917 64520 11035 50828 2657 149857 148016 1771 70 2053 2053 198808 116687 60523 21598 21968 79 21889 MATERIALS AND SUPPLIES 306184 304375 1322 487 FACILITIES 202511 115048 65466 21997 MEMBERSHIPS AND SUBSCRIPT 83604 20682 58827 4095 MEALS AND ACTIVITIES 7413 2051 5108 254 7158 7158 5972674 4032377 1522114 418183 2022717 1678052 585733 1086684 15468 16214 1983746 1157763 981425 825983 3605343 3606933 587508 900662 475000 380000 496000 1062508 1776662 X 1496741 1119555 1046094 710716 2542835 1830271 3605343 3606933 -754048 -3713 45197 X false true X true false X 234160 9696595 5339544 3992979 5172571 24435849 234160 9696595 5339544 3992979 5172571 24435849 1905114 22530735 63920 59077 74657 77185 1521 276360 32078 32078 24744287 271647 0.91050 0.94080 X PART II, LINE 10 32,078 SUPPLEMENTAL INFORMATION SCHEDULE A,PART 11, LINE 10 - EXCLUDES CAPITAL GAIN OF 12,456 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X ART WORKS COLLECTION false 1387071 823094 563977 330263 191827 138436 266412 142842 123570 825983 LINE OF CREDIT - BORSCHOW CHARITABLE 346000 ECONOMIC INJURY DISASTER LOAN 150000 496000 5260110 -3713 45197 41484 5218626 5218626 5972674 5972674 5972674 SCHEDULE D, PAGE 4, PART XIII THE WORKS OF ARTS WERE COMMISIONED AS PART OF A CONTEST MADE FOR LOCAL ARTISTS OF THE COMMUNITY. false END OF YEAR GIV 30876 30876 FOR GOOD CAMPAI 28869 28869 1 9431 9431 69176 69176 true RICO INC CALLE GUAYAMA 556 SAN JUAN PR 00912 660831665 11970 BOOK OFFICE FISCAL SPONSORSHIP FUNDACION FONDO DE ACCESO A LA JUST EDIF COMERCIAL 18 AVE RH TODD 880 SANTURCE PR 00907 660831102 40000 BOOK GRANTEE PER CONTRACT RENTING ENTERPRIZES LLC BDA ESPERANZA 14 GUANICA PR 00653 660899138 6500 BOOK 3 SEED FUNDING 7 102550 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 ANNIE MAYOL DEL VALLE PRESIDENT & COO 224850 224850 DAMARIS OCASIO NIEVES CFO 161605 161605 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 OPERATING 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 AN 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 PROFESSIONAL FEES - OTHER 87,208 16,550 0 PROFESSIONAL FEES - OP & FINA 59,570 11,305 0 PROFESSIONAL FEES - COMPLIANC 28,785 5,463 0 PROFESSIONAL FEES - DEVELOPME 53,085 10,074 0 PROFESSIONAL FEES - VEI 4,721 896 0 PROFESSIONAL FEES - VIEWPR 316 60 0 PROFESSIONAL FEES-NON FED WCR 9,276 1,760 0 PROFESSIONAL FEES-NON FED EDA 8,183 1,553 0 PROFESSIONAL FEES-H MARIA 4,935 936 0 PROFESSIONAL FEES-KAUFFMAN 143,570 27,246 0 PROFESSIONAL FEES-EARTHQUAKE 18,878 3,583 0 PROFESSIONAL FEES BF 5,757 1,093 0 PROFESSIONAL FEES-EDA 2018 995,289 188,882 0 PROFESSIONAL FEES-ENTERPRISE 19,497 3,700 0 PROFESSIONAL FEES-MESSAGING 65,303 12,394 0 TOTAL 1,504,373 285,495 0