FOUNDATION FOR PUERTO RICO INC: Form 990, tax year 2018
View the entire original 990 at ProPublica ↗
- Organization
- FOUNDATION FOR PUERTO RICO INC (EIN 66-0776227)
- Tax period
- 2018-01-01 to 2018-12-31
- Filed
- 2019-11-15
- IRS object ID
- 201923199349315082
- Schema version
- 2018v3.1
- 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 I
- Schedule J
- Schedule L
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2019-11-15T14:42:15-08:00 | ReturnTs |
| Tax Period End | 2018-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 660578857 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BDO PUERTO RICO PSC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 363436 | AddressLine1Txt |
| City | SAN JUAN | CityNm |
| State Abbreviation | PR | StateAbbreviationCd |
| ZIP | 00936 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2018-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 660776227 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FOUNDATION FOR PUERTO RICO INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | FOUN | BusinessNameControlTxt |
| Phone | 7877731100 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 364029 | AddressLine1Txt |
| City | SAN JUAN | CityNm |
| State Abbreviation | PR | StateAbbreviationCd |
| ZIP | 00936 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ANNIE MAYOL DEL VALLE | PersonNm |
| Person Title | President & CEO | PersonTitleTxt |
| Signature | 2019-10-15 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JUAN C RIVERA | PreparerPersonNm |
| PTIN | P01410762 | PTIN |
| Phone | 7877543999 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2018 | TaxYr |
| Build TS | 2020-03-31 21:24:44Z | BuildTS |
Form 990 IRS990
Principal Ofcr Business Name PrincipalOfcrBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Jonathan Borschow | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $6,149,360 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| All Affiliates Included | false | AllAffiliatesIncludedInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | www.foundationforpuertorico.com | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2011 | FormationYr |
| Legal Domicile State | PR | LegalDomicileStateCd |
| Activity Or Mission | 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. | ActivityOrMissionDesc |
| Voting Members Governing Body | 13 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 13 | VotingMembersIndependentCnt |
| Total Employee | 13 | TotalEmployeeCnt |
| Total Volunteers | 319 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| PY Contributions Grants | $11,096,595 | PYContributionsGrantsAmt |
| CY Contributions Grants | $5,339,544 | CYContributionsGrantsAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,382 | PYInvestmentIncomeAmt |
| CY Investment Income | $74,657 | CYInvestmentIncomeAmt |
| PY Other Revenue | $59,077 | PYOtherRevenueAmt |
| CY Other Revenue | $735,159 | CYOtherRevenueAmt |
| PY Total Revenue | $11,157,054 | PYTotalRevenueAmt |
| CY Total Revenue | $6,149,360 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $1,430,073 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $5,244,484 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $889,010 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $1,400,940 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $325,100 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $1,272,443 | PYOtherExpensesAmt |
| CY Other Expenses | $2,298,805 | CYOtherExpensesAmt |
| PY Total Expenses | $3,591,526 | PYTotalExpensesAmt |
| CY Total Expenses | $8,944,229 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $7,565,528 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$2,794,869 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $9,992,238 | TotalAssetsBOYAmt |
| Total Assets EOY | $6,990,888 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,117,855 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $911,374 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $8,874,383 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $6,079,514 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | The main objective of the Organization is to promote strategic philanthropy as catalyst to accelerate the econommic, 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. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $4,986,745 | ExpenseAmt |
| Desc | Scaling-up for Innovation - Support and collaborate to build the capacity of organizations so they may: think out of the box, become competitive, and take advantage of global opportunities. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $2,121,546 | ExpenseAmt |
| Desc | Disaster Recovery and Rebuilding | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $517,069 | ExpenseAmt |
| Desc | Pursuing Global Markets - Promote the insertion of Puerto Rico in the global economy. Drive the innovation, knowledge, and visitor economy. Support organizations that help strengthen the entrepreneurial ecosystem. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $276,807 | TotalOtherProgSrvcExpenseAmt |
| Total Program Service Expenses | $7,902,167 | 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 | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Temp Or Permanent Endowments | false | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | 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 | false | ProfessionalFundraisingInd |
| Fundraising Activities | Yes (true) | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | false | InvestTaxExemptBondsInd |
| Escrow Account | false | EscrowAccountInd |
| On Behalf Of Issuer | false | OnBehalfOfIssuerInd |
| 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 With Officer Ent | Yes (true) | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | 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 | 13 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | false | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | false | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Form8282 Filed | 0 | Form8282FiledCnt |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Form8899 Filedind | false | Form8899Filedind |
| Form1098 C Filed | false | Form1098CFiledInd |
| DAF Excess Business Holdings | false | DAFExcessBusinessHoldingsInd |
| Taxable Distributions | false | TaxableDistributionsInd |
| Distribution To Donor | false | DistributionToDonorInd |
| Org Filed In Lieu Of Form1041 | false | OrgFiledInLieuOfForm1041Ind |
| Licensed More Than One State | false | LicensedMoreThanOneStateInd |
| 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 | 13 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 13 | 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 | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | 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 | false | WhistleblowerPolicyInd |
| Document Retention Policy | false | DocumentRetentionPolicyInd |
| Compensation Process CEO | false | CompensationProcessCEOInd |
| Compensation Process Other | false | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | PR | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DAMARIS OCASIO | PersonNm |
| Phone | 7877731100 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 364029 | AddressLine1Txt |
| City | SAN JUAN | CityNm |
| State Abbreviation | PR | StateAbbreviationCd |
| ZIP | 009364029 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (3 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|---|
| Annie Mayol | |||||||
| President & CEO | 40.00 | 0.00 | Yes (X) | Yes (X) | $175,389 | $0 | $0 |
| Maria M Jaunarena Ferrari | |||||||
| Vice President | 40.00 | 0.00 | Yes (X) | Yes (X) | $145,692 | $0 | $0 |
| Arnaldo Cruz Sanabria | |||||||
| Director | 40.00 | 0.00 | Yes (X) | $112,907 | $0 | $0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $433,988 | TotalReportableCompFromOrgAmt |
| 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 |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| Fundraising | $3,010,937 | FundraisingAmt |
| Government Grants | $192,739 | GovernmentGrantsAmt |
| All Other Contributions | $2,135,868 | AllOtherContributionsAmt |
| Total Contributions | $5,339,544 | TotalContributionsAmt |
| Total Program Service Revenue | $0 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $74,657 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $74,657 | RelatedOrExemptFuncIncomeAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $220,773 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $220,773 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $220,773 | TotalRevenueColumnAmt |
| Exclusion | $220,773 | ExclusionAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Rpt Fundraising Event | $3,010,937 | ContriRptFundraisingEventAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Income From Gaming NetIncomeFromGamingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|
| Fiscal Sponsorship | $37,298 | $37,298 |
| In-Kind Revenue | $152,686 | $152,686 |
| Share Services | $315,619 | $315,619 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $8,783 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $8,783 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $514,386 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $6,149,360 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $589,043 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $220,773 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,244,484 | TotalAmt |
| Program Services | $5,244,484 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,400,940 | TotalAmt |
| Program Services | $1,092,104 | ProgramServicesAmt |
| Management And General | $249,544 | ManagementAndGeneralAmt |
| Fundraising | $59,292 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,893 | TotalAmt |
| Management And General | $14,893 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $28,673 | TotalAmt |
| Management And General | $28,673 | ManagementAndGeneralAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,257,903 | TotalAmt |
| Program Services | $817,316 | ProgramServicesAmt |
| Management And General | $278,558 | ManagementAndGeneralAmt |
| Fundraising | $162,029 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $65,209 | TotalAmt |
| Program Services | $44,907 | ProgramServicesAmt |
| Management And General | $9,469 | ManagementAndGeneralAmt |
| Fundraising | $10,833 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $74,162 | TotalAmt |
| Program Services | $27,848 | ProgramServicesAmt |
| Management And General | $15,901 | ManagementAndGeneralAmt |
| Fundraising | $30,413 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $93,831 | TotalAmt |
| Program Services | $61,692 | ProgramServicesAmt |
| Management And General | $1,466 | ManagementAndGeneralAmt |
| Fundraising | $30,673 | FundraisingAmt |
Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,975 | TotalAmt |
| Program Services | $1,875 | ProgramServicesAmt |
| Management And General | $4,100 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $191,699 | TotalAmt |
| Program Services | $145,532 | ProgramServicesAmt |
| Management And General | $38,327 | ManagementAndGeneralAmt |
| Fundraising | $7,840 | FundraisingAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,050 | TotalAmt |
| Management And General | $2,050 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| Materials and Supplies | $189,526 | $175,506 | $9,794 | $4,226 |
| Facilities | $181,194 | $141,250 | $32,275 | $7,669 |
| Memberships and Subscriptions | $51,805 | $29,070 | $22,735 | |
| Meals and Activities | $45,299 | $27,872 | $8,047 | $9,380 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $96,586 | TotalAmt |
| Program Services | $92,711 | ProgramServicesAmt |
| Management And General | $1,130 | ManagementAndGeneralAmt |
| Fundraising | $2,745 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,944,229 | TotalAmt |
| Program Services | $7,902,167 | ProgramServicesAmt |
| Management And General | $716,962 | ManagementAndGeneralAmt |
| Fundraising | $325,100 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,980,726 | BOYAmt |
| EOY | $5,172,366 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $680,222 | BOYAmt |
| EOY | $636,580 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,050 | BOYAmt |
| EOY | $14,407 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $1,932,647 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $765,112 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,327,240 | BOYAmt |
| EOY | $1,167,535 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,992,238 | BOYAmt |
| EOY | $6,990,888 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $452,855 | BOYAmt |
| EOY | $341,374 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $665,000 | BOYAmt |
| EOY | $570,000 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,117,855 | BOYAmt |
| EOY | $911,374 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,701,367 | BOYAmt |
| EOY | $1,793,809 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,173,016 | BOYAmt |
| EOY | $4,285,705 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,874,383 | BOYAmt |
| EOY | $6,079,514 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,992,238 | BOYAmt |
| EOY | $6,990,888 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$2,794,869 | ReconcilationRevenueExpnssAmt |
| 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 | $119,221 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $130,208 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $234,160 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $9,696,595 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $5,339,544 | CurrentTaxYearAmt |
| Total | $15,519,728 | TotalAmt |
Tax Rev Levied Orgnztnl Bnft170 TaxRevLeviedOrgnztnlBnft170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Govt Furn Srvc Fclts Vl170 GovtFurnSrvcFcltsVl170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $119,221 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $130,208 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $234,160 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $9,696,595 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $5,339,544 | CurrentTaxYearAmt |
| Total | $15,519,728 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $3,451,120 | SubstantialContributorsTotAmt |
| Public Support Total170 | $12,068,608 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $119,736 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $45,394 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $63,920 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $59,077 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $74,657 | CurrentTaxYearAmt |
| Total | $362,784 | TotalAmt |
Unrelated Business Net Incm170 UnrelatedBusinessNetIncm170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus3 Years | $43,643 | CurrentTaxYearMinus3YearsAmt |
| Total | $43,643 | TotalAmt |
Other Income170 OtherIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $15,926,155 | TotalSupportAmt |
| Public Support CY170 | 0.75780 | PublicSupportCY170Pct |
| Public Support PY170 | 0.74830 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
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
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $1,381,016 | InvestmentCostOrOtherBasisAmt |
| Depreciation | $552,406 | DepreciationAmt |
| Book Value | $828,610 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $285,219 | InvestmentCostOrOtherBasisAmt |
| Depreciation | $119,472 | DepreciationAmt |
| Book Value | $165,747 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $266,412 | InvestmentCostOrOtherBasisAmt |
| Depreciation | $93,234 | DepreciationAmt |
| Book Value | $173,178 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $1,167,535 | TotalBookValueLandBuildingsAmt |
| Total Rev Etc Audited Fincl Stmt | $6,149,360 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Subtotal | $6,149,360 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $6,149,360 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $8,944,229 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Subtotal | $8,944,229 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $8,944,229 | TotalExpensesPerForm990Amt |
Schedule G IRS990ScheduleG
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agrmt Prof Fundraising Acty | false | AgrmtProfFundraisingActyInd |
Fundraising Event Information FundraisingEventInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Event1 | Posada Fundraising | Event1Nm |
| Gross Receipts Event1 | $2,895,282 | GrossReceiptsEvent1Amt |
| Charitable Contri Event1 | $2,895,282 | CharitableContriEvent1Amt |
| Event2 | Golf Tournament | Event2Nm |
| Gross Receipts Event2 | $115,655 | GrossReceiptsEvent2Amt |
| Charitable Contri Event2 | $115,655 | CharitableContriEvent2Amt |
| Gross Receipts Total | $3,010,937 | GrossReceiptsTotalAmt |
| Charitable Contributions Tot | $3,010,937 | CharitableContributionsTotAmt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (14 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Valuation Method UsedValuationMethodUsedDesc | Non Cash AssistanceNonCashAssistanceDesc | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|---|
| Bellas Sweets Incorporated | |||||||||
| Bo Saltos Carr 157 | Orocovis | PR | 00720 | 660910711 | $13,000 | $0 | Book | ||
| Caras of the Americas | |||||||||
| Betances 8 Floral Park | San Juan | PR | 00918 | 421628144 | $100,000 | $0 | Book | ||
| Centro para Emprendedores | |||||||||
| Alturas de San Juan | San Juan | PR | 00926 | 660783031 | $0 | $55,346 | Book | Office | Share Spaces |
| ConPRmetidos | |||||||||
| 1500 Calle Antonsanti Suite K | San Juan | PR | 00909 | 660780024 | $0 | $1,275,711 | Book | Collaborative Program (PR Global) | |
| Finca Oro Rojo LLC | |||||||||
| Calle Gregorio Carr 566 | Orocovis | PR | 00720 | 660900901 | $8,000 | $0 | Book | ||
| Inversion Cultural | |||||||||
| PO Box 930552 | San Juan | PR | 00928 | 660712740 | $0 | $19,710 | Book | Fiscal Sponsorship | |
| Jose Del Valle Figueroa | |||||||||
| Calle Munoz Rivera 58 | Juncos | PR | 00777 | 581760539 | $20,000 | $0 | Book | ||
| Kayak Orocovis Corp | |||||||||
| HC 01 Box 6627 | Orocovis | PR | 00720 | 660900406 | $20,000 | $0 | Book | ||
| Por Los Nuestros | |||||||||
| 100 Gran Paseo Blvd Suite 112 | San Juan | PR | 00926 | 660894050 | $0 | $797,509 | Book | Fiscal Sponsorship- PorLosNuestros | |
| Producciones 625 Inc | |||||||||
| PO Box 1331 | Orocovis | PR | 00720 | 660900329 | $12,000 | $0 | Book | ||
| Proyecto PECES Inc | |||||||||
| 100 PR-908 | Humacao | PR | 00791 | 060444454 | $96,115 | $0 | Book | ||
| Red de Fundaciones | |||||||||
| PO Box 362408 | San Juan | PR | 00936 | 660770270 | $2,331,373 | $0 | Book | Fiscal Sponsorship - Adelante PR | |
| Rico Inc | |||||||||
| PO Box 364029 | San Juan | PR | 00912 | 660831665 | $127,711 | $0 | Book | ||
| SLLA | |||||||||
| Centro de Estudios Avanzados | San Sebastian | PR | 00901 | $16,380 | $0 | Book | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 0 | Total501c3OrgCnt |
| Total Other Org | 14 | TotalOtherOrgCnt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | 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 |
| Rebuttable Presumption Proc | false | RebuttablePresumptionProcInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Annie Mayol | PersonNm |
| Title | President & CEO | TitleTxt |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Jalka Realty | PersonNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | Chairman | RelationshipDescriptionTxt |
| Transaction | $55,000 | TransactionAmt |
| Transaction | Professional Service | TransactionDesc |
| Sharing Of Revenues | false | SharingOfRevenuesInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part III, Line 4d: Other Program Services Description | OTHER PROGRAM SERVICES 4: Disaster Recovery and Rebuilding |
| Form 990, Part VI, Line 11b: Form 990 Review Process | Organization's process to review Form 990 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 applied in order for the entity to submit the form to the Internal Revenue Service for filing. |
| Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts | 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 or 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 arangement 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 Foundation'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 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 and 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 actal or possible conflict of interest, it shall take appropriate disciplinary and corrective action. |
| Form 990, Part VI, Line 19: Other Organization Documents Publicly Available | No documents available to the public. |
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