Form 990 for tax year 2023

Filed by PUERTO RICO CONSERVATION TRUST.

Totals

Total revenue: $39,580,061
Total expenses: $41,800,317
Contributions and grants received: $19,869,819
Grants paid: $586,494
Program service revenue: $0
Investment income: $19,001,442
Other revenue: $708,800
Total assets, end of year: $655,582,386
Total liabilities, end of year: $240,241,514
Net assets or fund balances, end of year: $415,340,872
Program services expenses (Part IX): $26,992,981
Management and general expenses: $14,807,336
Fundraising expenses: $0
Program service expenses (Part III): $26,992,981

Program services were 64.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

1c · Fundraising events

$3,183
1f · All other contributions, gifts and grants

$19,866,636
1g · Noncash contributions included above

$19,383,300
2f · All other program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
3 · Investment income

total $21,523,381 · excluded $21,523,381
6c · Rental income or loss

real property $0 · personal property $0
7a · Gross sales of assets other than inventory

securities $63,954,440
7b · Less cost or other basis and sales expenses

securities $66,476,379
7c · Gain or loss

securities -$2,521,939 · other assets $0
7d · Net gain or loss

total -$2,521,939 · excluded -$2,521,939
11a · Other revenue: Fema Reimbursements

total $613,077 · related or exempt $613,077
11b · Other revenue: NMTC Interest Income

total $54,575 · related or exempt $54,575
11c · Other revenue: Fiscal Sponsor Fees

total $19,380 · related or exempt $19,380
11d · All other revenue

total $21,768 · related or exempt $21,768 · unrelated business $0 · excluded $0
11e · Other revenue, total

$708,800

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $586,494 · program services $586,494
4 · Benefits paid to or for members

total $0 · program services $0
11f · Fees: investment management

total $483,574 · management and general $483,574
11g · Fees: other

total $0 · program services $0 · management and general $0 · fundraising $0
16 · Occupancy

total $12,000 · program services $12,000
20 · Interest

total $14,042,512 · management and general $14,042,512
22 · Depreciation, depletion and amortization

total $2,291,432 · program services $2,075,336 · management and general $216,096
23 · Insurance

total $61,254 · management and general $61,254
24a · Other expenses: Management Fees

total $13,206,422 · program services $13,206,422
24b · Other expenses: Land Impairment

total $11,112,704 · program services $11,112,704
24c · Other expenses: Bank Charges

total $2,500 · management and general $2,500
24d · Other expenses: Taxes

total $1,400 · management and general $1,400
24e · All other expenses

total $25 · program services $25 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $5,251,888 · end of year $3,344,919
2 · Savings and temporary cash investments

beginning of year $10,870,946 · end of year $1,738,270
4 · Accounts receivable

beginning of year $40,120 · end of year $40,120
5 · Loans and receivables from officers and key people

beginning of year $0 · end of year $0
6 · Loans and receivables from disqualified persons

beginning of year $0 · end of year $0
7 · Other notes and loans receivable

beginning of year $6,841,000 · end of year $6,841,000
9 · Prepaid expenses and deferred charges

beginning of year $41,451 · end of year $23,728
10a · Land, buildings and equipment: cost or other basis

$176,151,352
10b · Land, buildings and equipment: accumulated depreciation

$27,274,184
10c · Land, buildings and equipment, net

beginning of year $141,062,762 · end of year $148,877,168
11 · Investments: publicly traded securities

beginning of year $437,040,391 · end of year $482,224,461
12 · Investments: other securities

beginning of year $0
13 · Investments: program-related

beginning of year $0
14 · Intangible assets

beginning of year $5,342,100 · end of year $5,342,100
15 · Other assets

beginning of year $6,015,720 · end of year $7,150,620
17 · Accounts payable and accrued expenses

beginning of year $16,012,369 · end of year $10,413,360
19 · Deferred revenue

beginning of year $240,156 · end of year $225,102
22 · Loans and payables to officers and key people

beginning of year $0 · end of year $0
23 · Secured mortgages and notes payable

beginning of year $208,040,998 · end of year $229,603,052
25 · Other liabilities

beginning of year $0 · end of year $0
27 · Net assets without donor restrictions

beginning of year $106,771,730 · end of year $133,899,747
28 · Net assets with donor restrictions

beginning of year $281,441,125 · end of year $281,441,125

Mission and programs · 2023

Mission

TO PROTECT AND ENHANCE THE NATURAL RESOURCES OF PUERTO RICO.

TO PROTECT AND ENHANCE THE NATURAL RESOURCES OF PUERTO RICO AND TO PERFORM THE FUNCTIONS OF THE UNITED STATES AND PUERTO RICO IN THE AREA OF CONSERVATION. TO DEVELOP PROGRAMS AIMED AT EDUCATING THE PUBLIC ABOUT ENVIRONMENTAL ISSUES AND THE NEED TO PROTECT AND CONSERVE NATURAL RESOURCES.

Expenses $26,992,981 · Grants $586,494 · Revenue $708,800

As filed on the 2023 return.

Listed in Part VII

Ana M Garcia Blanco

TRUSTEE

Total calculated

$0

Hours/week

5
Blas B FonalledasBLAS B FONALLEDAS

TRUSTEE

Total calculated

$0

Hours/week

5
Roberto Serralles Jordan

TRUSTEE

Total calculated

$0

Hours/week

5
Lic Fernando LloverasLIC FERNANDO LLOVERAS

EXECUTIVE DIRECTOR

Total calculated

$342,390

From this org

$0

From related orgs

$306,590

Other

$35,800

Hours/week

5 + 37.5 related

Schedule J breakdown matched by us

Base

$0 + $306,590 related

Bonus

$0

Other

$0

Deferred

$0 + $33,000 related

Nontaxable benefits

$0 + $2,800 related

Filer's total

$0 + $342,390 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
4c · Equity-based compensation arrangement
5a · Pay contingent on this organization's revenues
5b · Pay contingent on a related organization's revenues
6a · Pay contingent on this organization's net earnings
6b · Pay contingent on a related organization's net earnings
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3: DESCRIPTION OF PROCESS TO REVIEW COMPENSATION PAID TO TOP MANAGEMENT OFFICIAL: THE ORGANIZATION'S CHIEF EXECUTIVE OFFICER/TOP MANAGEMENT OFFICIAL IS PAID BY A RELATED TAX-EXEMPT ORGANIZATION, PARA LA NATURALEZA, INC., AND IS DISCLOSED AS A PERSON PAID BY A RELATED ORGANIZATION.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Climatic Body

$237,112

To provide operational support to the climate corps of Puerto Rico
Cano Martin Pena Land Trust

$148,857

To support the youth of Cano Martin Pena and rainwater harvesting strategies
Happy Sonship

$101,450

This grant will provide funds tocomplete a farm- wide solar energy system which will power all of the foundation's structures, the community kitchen and the farm; for building greenhouse, upgrading of irrigation system, acquisition of farming equipment, seeds and fruit trees and stipend for farm hands
G-8 Group of Eight Communities

$35,000

Hurricane Maria Community Relief, recovery and equitable rebuilding in Puerto Rico
Monte Azul Inc

$25,000

This grant will provide funds to expand the community kitchen service to elders (40+ daily) and agricultural fields/production of the partnership between MAF and IDIIFCO of Maricao
Integral Development Institute Inc

$20,000

The funds will be specifically used to buy product (food), buy gas for cooking, provide a modest stipend for a cook and a driver to deliver the meals and fuel for deliveries. It is projected that meals will be delivered 3 days per week for a total of 135 hot meals per week.
Martin Pena Cano Link Project Corporation

$19,075

Youth Leadership and Violence Prevention Programs

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

PARA LA NATURALEZA INC

501(c)(3) · SECURING ECOLOGICAL SYSTEMS FOR PR · PR · controlled entity

Directly controlled by NA
COMMONWEALTH OF PUERTO RICO

501(c)(1) · LOCAL GOVERNMENT · PR

Directly controlled by NA

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

JAGUEY AGRO CORPORATION

C Corporation · AGRICULTURAL BUSINESS · PR · 100% owned · share of income $4,000 · share of assets $133,478 · controlled entity

Directly controlled by PUERTO RICO CONSERVATION TRUST FUND

Provenance

Return type: form_990
Tax year: 2023
Filed: 15 November 2024
IRS schema version: 2023v5.1
Source object: 202423209349314387

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