2015-11-09T10:57:41-07:00 2014-12-31 660610575 HLB Parissi PSC 650 MUNOZ RIVERA AVE SUITE 502 SAN JUAN RQ 00918-4149 990 2014-01-01 660776227 FOUNDATION FOR PUERTO RICO INC FOUN 7877731100 PO BOX 364029 SAN JUAN PR RQ 00936-4029 DAMARIS OCASIO DIRECTOR OF OPERATIONS 7877731100 2015-11-15 1 Juan Robles P01338369 7876419801 2015-11-15 2014 2016-04-25 22:37:26Z X DAMARIS OCASIO PO BOX 364029 SAN JUAN RQ 00936-4029 2283759 0 X www.foundationforpuertorico.com X 2011 PR Foundation for PR (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 do 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 transform PR into a destination for the world by driving sustainable strategies of economic and social development. 10 10 17 77 0 0 1043453 2164023 0 0 97 1283 59272 118453 1102822 2283759 0 24000 0 0 0 795445 0 0 0 1008276 610310 1008276 1429755 94546 854004 306405 2714189 54610 1619435 251795 1094754 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. 0 0 599090 0 0 Mobilizing for Transformation - Launch new economic strategies. Encourage people to assume their role as citizens of the world. Grasp opportunities and challenges. 417100 0 0 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. 189312 0 0 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. 85180 0 0 Development expenses for program services. 85180 0 0 1290682 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 17 1 0 0 0 0 0 0 X 10 10 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 0 0 0 0 0 PR X DAMARIS OCASIO 7877731100 PO BOX 364029 SAN JUAN RQ 00936-4029 X JONATHAN BORSCHOW CHAIRMAN 15 0 X X 0 0 0 MILTON CRUZ VICE CHAIRMAN/SECRETARY 2 0 X X 0 0 0 GREGORY KAUFMAN TREASURER 1 0 X 0 0 0 DAMARIS OCASIO ASSISTANT TREASURER/SECRETARY 35 0 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2164023 0 2164023 0 1283 1283 0 0 0 0 0 0 300 300 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Shared Space Revenue 532000 44135 44135 0 0 Shared Service Revenue 541610 74018 74018 0 0 0 0 0 0 118153 2283759 119736 0 0 X 24000 24000 795445 727210 68235 0 15858 15858 9318 9318 0 264849 241750 23099 78443 71162 7281 12982 12982 2926 2596 330 1116 1116 2219 2219 Internship Expenses 24838 23230 1608 Rental Expense 29786 26678 3108 Meals and Activities 11044 10393 651 0 MIT REAP Fees 125000 125000 0 31931 25681 6250 1429755 1290682 139073 0 132698 266516 173707 643609 22825 1782355 1116 1781239 306405 2714189 54610 669435 950000 54610 1619435 X 226795 1082204 25000 12550 0 0 251795 1094754 306405 2714189 X 854004 0 0 0 0 -11045 X 0 1 X 0 0 X 500000 1043453 2164023 3707476 0 0 500000 1043453 2164023 3707476 3707476 0 59369 119736 179105 3886581 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 24200 0 0 24200 1381015 0 0 1381015 193095 0 1116 191979 184045 0 0 184045 1781239 2283759 0 0 0 0 0 2283759 0 0 0 2283759 1440800 0 0 0 11045 11045 1429755 0 0 0 1429755 Schedule D, Part XII, Line 2d Meals and Entertainment Expenses $11,045 1 ConPRmetido 1511 Ave Ponce de Leon Suite K La Ciudadela San Juan PR RQ 00909 660780024 24000 0 ConPRmetidos and FPR have agreed to serve as a catalyst for PR's transformation into a vibrant society and economy by committing to Foster entrepreneurship and innovation; to identify opportunities for PR's civil society and diaspora to engage, assume innovative roles and facilitate a proactive involvement with the sustainable socioeconomic development of the Island. 0 1 Schedule I, Part I, Line 2 None. JALKA REALTY LLC CHAIRMAN 60000 PROFESSIONAL SERVICES 0 JALKA REALTY LLC CHAIRMAN 12000 RENT 0 Form 990, Part VI, Section A, Line 6 1.Jonathan Borschow, 2.Milton Cruz, 3.Gregory Kaufman, 4.Gualberto Rodriguez, 5.Jossen Rossi, 6.Lizzie Rosso, 7.Luis Alberto Ferre, 8.Rafael Brass, 9.Ramon Mellado, and 10.Sila M. Calderon. Form 990, Part VI, Section A, Line 7a 1.Jonathan Borschow, 2.Milton Cruz, 3.Gregory Kaufman, 4.Gualberto Rodriguez, 5.Jossen Rossi, 6.Lizzie Rosso, 7.Luis Alberto Ferre, 8.Rafael Brass, 9.Ramon Mellado, and 10.Sila M. Calderon. Form 990, Part VI, Section B, Line 11b 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, Section B, Line 12c Each director shall annually sign a statement which affirms such person 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 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 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 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 or 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, Part VI, Section C, Line 19 No documents available to the public. Form 990, Part IX, Line 11g Professional fees-Support $23,099. Professional fees- Development $22,867. Professional fees- Pursuing Global Markets $36,025. Professional fees- Mobilizing for Transformation $68,176. Professional fees- Scaling-up for Innovation $46,997. University Partnership Fees- Scaling-up for Innovation $6,972. University Partnership Fees- Mobilizing for Transformation $84,893. Form 990, Part XI, Line 9 Amount relates to 50% disallowance for meals and entertainment expenses.