2025-11-17T09:16:05-05:00 2024-12-31 660563256 KEVANE GRANT THORNTON LLP 33 CALLE BOLIVIA STE 400 SAN JUAN PR 009172013 990 2024-01-01 660776227 FOUNDATION FOR PUERTO RICO INC FOUN 7877731100 PO BOX 364029 SAN JUAN PR 009364029 DAMARIS OCASIO NIEVES CFO 7877731100 2025-11-17 false ALI DIAZ P02042046 7877541915 2025-11-17 2024 2025-03-06 01:10:19Z DAMARIS OCASIO NIEVES PO BOX 364029 SAN JUAN PR 009364029 37966090 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. 10 0 60 1 0 4136379 4423440 0 85675 81460 111399 27298 4333453 4532198 98972 95441 0 3065923 2897844 38215 0 353107 1419250 1548037 4622360 4541322 -288907 -9124 5529867 6179788 2058188 2691490 3471679 3488298 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 1770644 RESILIENCY INITIATIVES - SUPPORTS THE REBUILDING AND RECOVERY EFFORTS OF THE ISLAND THROUGH PARTICIPATORY PLANNING PROCESSES, RESILIENCY DONATIONS, EDUCATIONAL TOOLS AND MATERIALS, TECHNICAL ASSISTANCE, AND INSPIRATION TO A NEW GENERATION OF RESILIENT COMMUNITIES THAT WILL BE PREPARED TO SURVIVE AND THRIVE IN THE FACE OF UNFORSEEN ADVERSITY. 770428 ECONOMIC DEVELOPMENT INITIATIVES - INCLUDES THE IMPLEMENTATION OF ECONOMIC DEVELOPMENT STRATEGIES IN THE COMMUNITIES OF PUERTO RICO WHILE MAXIMIZING OUR ASSETS. ALSO, WORKING ON STRENGTHENING THE THIRD SECTOR, ENTREPRENEURIAL AND BUSINESS ECOSYSTEMS, AND SOCIAL CAPITAL IN GENERAL. ALL FROM THE "BOTTOM UP". 66060 POLICY, RESEARCH, AND INNOVATION INITIATIVES - DRIVE INNOVATION THROUGH POLICY AND RESEARCH, SHARING KNOWLEDGE AND BEST PRACTICES, AND DEVELOPING STRATEGIES IN COLLABORATION WITH PARTNERS TO ADDRESS CRITICAL CHALLENGES AND OPPORTUNITIES AFFECTING OUR COMMUNITIES, WITH THE MAIN GOAL OF BRINGING GROWTH AND TRANSFORMATION TO PUERTO RICO'S ECONOMY. SEEKS TO IMPLEMENT INNOVATIVE AND STRATEGIC INNITIATIVE THROUGH THE CENTER OF STRATEGIC INNOVATION. SCALLING UP FOR INNOVATION - SUPPORTS AND COLLABORATES TO BUILD THE CAPACITY OF NON-PROFIT ORGANIZATIONS SO THEY MAY INNOVATE, BECOME COMPETITIVE, AND TAKE ADVANTAGE OF GLOBAL OPPORTUNITIES. 2607132 true true false false false false false true false false true false false false true false true false false false false false false false true false false true false true false false false false false false false false false false false false false false false false false true 0 0 60 true false false false false false false false false false false false false X 10 0 true false false false false false false true true false false false true true true true true false false false PR X DAMARIS OCASIO NIEVES 7877731100 PO BOX 364029 SAN JUAN PR 009364029 DAMARIS OCASIO NIEVES CFO 40.00 X 159990 0 0 SOLEDAD GAZTAMBIDE ARANDES CHIEF OFFICE 40.00 X 127100 0 0 CESAR A SANTOS CARDONA HR DIRECTOR 40.00 X 105100 0 0 ALMA M FRONTERA COLON VP OPERATION 40.00 X 104225 0 0 ALEXANDER BORSCHOW DIRECTOR X 0 0 0 JONATHAN BORSCHOW CHAIRMAN X X 0 0 0 RONALD CASTRO DIRECTOR X 0 0 0 GRACIELA ELETA VICE-CHAIRWO X X 0 0 0 JESUS LOPEZ DIRECTOR X 0 0 0 RAMON MELLADO CHAIR GOVERN X X 0 0 0 CARLOS L RODRIGUEZ RAMOS DIRECTOR X 0 0 0 JUAN A RAMOS DIRECTOR X 0 0 0 INGRID RIVERA SECRETARY X X 0 0 0 ZULMARIE URRUTIA TREASURER X 0 0 0 496415 4 false true false RE PLUS COLLECTIVE INC PO BOX 6135 GUAYNABO PR 00969 415729 3 SIDED CUBE INC 7901 4TH ST N STE 300 ST PETERSBURG FL 33702 204571 KEVANE GRANT THORNTON LLP 33 CALLE BOLIVIA 400 SAN JUAN PR 00917 174509 3 143838 4279602 4423440 39890 39890 33475462 33433892 41570 41570 41570 143838 SHARED SERVICES 27298 27298 27298 4532198 108758 X 95441 95441 496415 298741 142790 54884 2117421 1274258 609059 234104 56827 34198 16346 6283 227181 136717 65347 25117 74000 74000 774853 711679 63174 14027 10102 3681 244 153123 2292 123667 27164 10416 7204 2829 383 57936 57936 213738 10934 202804 6272 6272 FACILITIES 122655 122655 MEMBERSHIPS AND SUBSCRIPT 89693 16503 68449 4741 MATERIALS AND SUPPLIES 15344 8258 6961 125 MEALS AND ACTIVITIES 5540 805 4673 62 10440 10440 4541322 2607132 1581083 353107 1991366 2151527 3172426 3133707 80484 800286 2085437 1991169 285591 94268 5529867 6179788 1014266 1651503 1043922 1039987 2058188 2691490 X 2163004 2163004 1308675 1325294 3471679 3488298 5529867 6179788 -9124 25735 8 X false true X true false X 5172571 7257654 6269516 3904748 4279602 26884091 5172571 7257654 6269516 3904748 4279602 26884091 7842365 19041726 1521 7854 17078 36421 39890 102764 32078 210837 29280 82624 27298 382117 27368972 474136 0.69570 0.76300 X PART II, LINE 10 382,117 SUPPLEMENTAL INFORMATION SCHEDULE A,PART II, LINE 10 - EXCLUDES CAPITAL GAIN OF 41,570 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19796 X ART WORKS COLLECTION false 1398749 1378644 20105 323555 288635 34920 363133 323890 39243 94268 LINE OF CREDIT - BORSCHOW CHARITABLE 903661 ECONOMIC INJURY DISASTER LOAN 136326 1039987 4557933 25735 25735 4532198 4532198 4541322 4541322 4541322 SCHEDULE D, PAGE 4, PART XIII THE WORKS OF ARTS WERE COMMISIONED AS PART OF A CONTEST MADE FOR LOCAL ARTISTS OF THE COMMUNITY. END OF YEAR GIV 52533 52533 GIVING TUESDAY 46454 46454 1 44851 44851 143838 143838 true MARINY DEL R VAZQUEZ MALDONADO MARINY DEL R VAZQUEZ MALDONADO HC1 BUZON 4230 HC1 BUZON 4230 NAGUABO PR 00718 584414746 77378 REIMBURSEMENT 1 SCHEDULE I, PAGE 1, PART I, LINE 2 SCHEDULE I PART II LINE 1 GRANT FUNDS ARE PROVIDED IN ACCORDANCE WITH INTERNAL PROCEDURES TO EVALUATE THAT RECIPIENTS ATTEND CORRESPONDING WORKSHOPS AND MEET THE REQUIRED CRITERIA TO RECEIVE THE FUNDS. ONCE THE RECIPIENTS ARE CONFIRMED TO HAVE MET THE REQUIREMENTS, THE GRANT FUNDS WILL BE PROVIDED. THE CRITERIA USED TO DETERMINE IF THE RECIPIENTS QUALIFY FOR THE RECEIPT OF GRANT FUNDS ARE THE FOLLOWING: -RECIPIENT MUST BE AN OWNER OF A BUSINESS ACTIVELY PARTICIPATING IN ONE OF OUR PROGRAMS OF BUSINESS DEVELOPMENT. -RECIPIENT MUST COMPLY WITH THE HOURS ASSIGNED IN ACCORDANCE WITH THE PROGRAM THEY ARE PARTICIPATING IN. -RECIPIENT MUST BE A BUSINESS ORGANIZED AS A COMMUNITY SERVICE COMPANY OR BE RELATED TO THE VISITOR ECONOMY (RESTAURANTS, BARS, SPA, EVENT LOCALS, ROOM AND BOARD, SALES OR RENT OF EQUIPMENT, TOURISM EXPERIENCE PROVIDERS, DIRECT SUPPLIER OF THE INDUSTRY OR SECTOR, ETC.) -THE RECIPIENT BUSINESS MUST BE PHYSICALLY LOCATED AND OPERATING WITHIN PUERTO RICO. -THE RECIPIENT MUST BE AVAILABLE TO RECEIVE 3 HOURS OF INDIVIDUALIZED VIRTUAL TECHNICAL ASSISTANCE, TO CREATE A PLAN FOR THE BUSINESSES CONTINUED OPERATIONS ON THE ISLAND. THESE HOURS MUST BE COMPLETED BEFORE FEBRUARY 28, 2024, END OF BUSINESS DAY. -THE RECIPIENT BUSINESS MUST HAVE SUFFERED DAMAGES DUE TO THE IMPACT OF HURRICANE FIONA ON THE ISLAND. false false false false false false false false false DAMARIS OCASIO NIEVES CFO 159990 159990 FORM 990 - ORGANIZATION'S MISSION THE MAIN OBJECTIVE OF THE ORGANIZATION IS TO PROMOTE STRATEGIC PHILANTHROPY AS CATALYST TO ACCELERATE THE ECONOMIC, SOCIAL, AND SUSTAINABLE DEVELOPMENT IN PUERTO RICO BY COMMISSIONING HIGHLY FOCUSED RESEARCH, OFFERING EXPERT COUNSEL AND CONDUCTING EDUCATIONAL ACTIVITIES THAT WILL ADVANCE THE PHILANTHROPIC INITIATIVES AND PROGRAMS TO BE SUPPORTED BY THE ORGANIZATION. FORM 990, PAGE 2, PART III, LINE 4D SCALLING UP FOR INNOVATION - SUPPORTS AND COLLABORATES TO BUILD THE CAPACITY OF NON-PROFIT ORGANIZATIONS SO THEY MAY INNOVATE, BECOME COMPETITIVE, AND TAKE ADVANTAGE OF GLOBAL OPPORTUNITIES. FORM 990, PAGE 6, PART VI, LINE 2 JONATHAN BORSCHOW ALEXANDER BORSCHOW CEO DIRECTOR FATHER & SON FORM 990, PAGE 6, PART VI, LINE 11B PRIOR TO FILING OF FORM 990, MS.DAMARIS OCASIO, CHIEF FINANCIAL OFFICER, WILL REVIEW A DRAFT OF THE FORM. COMMENTS OR CHANGES SUGGESTED WILL BE APPLIED IN ORDER FOR THE ENTITY TO SUBMIT THE FORM TO THE INTERNAL REVENUE SERVICE FOR FILING. FORM 990, PAGE 6, PART VI, LINE 12C EACH DIRECTOR SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSONS HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY AND HAS AGREED TO COMPLY WITH THE POLICY. DUTY TO DISCLOSE- IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON (ANY MEMBER, DIRECTOR OR OFFICER WHO HAS A DIRECT OR INDIRECT FINANCIAL INTEREST) MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD OF DIRECTORS OR COMMITTEE MEETING. DETERMINING WHETHER A CONFLICT OF INTEREST EXISTS- AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS AND AFTER ANY PRESENTATION BY AND DISCUSSION WITH THE INTERESTED PERSON, THE INTERESTED PERSON SHALL LEAVE, THE BOARD OF DIRECTORS OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING DIRECTORS OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. PROCEDURES FOR ADDRESSING THE CONFLICT OF INTEREST- THE CHAIRMAN OF THE BOARD OF DIRECTORS OF CHAIRPERSON OF THE COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE BOARD OF DIRECTORS OR COMMITTEE SHALL DETERMINE WHETHER THE FOUNDATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE BOARD OF DIRECTORS OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS OR COMMITTEE MEMBERS WHETHER THE TRANSACTION OR ARRANGEMENTS IS IN THE FOUNDATIONS'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION, IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO A TRANSACTION OR ARRANGEMENT. VIOLATION OF THE CONFLICT OF INTEREST POLICY- IF THE BOARD OF DIRECTORS OR COMMITTEE HAS A REASONABLE CAUSE TO BELIEVE A MEMBER, DIRECTOR OR OFFICER HAS REASONABLE CAUSE TO BELIEVE A MEMBER, DIRECTOR OR OFFICER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM SUCH MEMBER, DIRECTOR OR OFFICER OF THE BASIS FOR SUCH BELIEF AND AFFORD SUCH MEMBER, DIRECTOR OR OFFICER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S DIRECTOR'S OF OFFICER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE BOARD OF DIRECTORS OR COMMITTEE DETERMINED THE MEMBER, DIRECTOR OR OFFICER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PAGE 6, PART VI, LINE 19 NO DOCUMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 11G OPERATIONS & SUPPORT 42,979 3,815 0 HUMAN RESOURCES 15,045 1,335 0 BOTTOM UP DESTINATION RE 30,624 2,718 0 SMAL BUSINESS SUPPORT 22,714 2,016 0 RESILIENCY 600,317 53,290 0 TOTAL 711,679 63,174 0