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Nonprofiteer
← FOUNDATION FOR A BETTER PUERTO RICO INC

Form 990 for tax year 2022

Filed by FOUNDATION FOR A BETTER PUERTO RICO INC.

Totals

Total revenue
$358,129
Total expenses
$772,559
Contributions and grants received
$357,880
Grants paid
$754,225
Program service revenue
$0
Investment income
$249
Other revenue
$0
Total assets, end of year
$108,208
Total liabilities, end of year
$6,550
Net assets or fund balances, end of year
$101,658
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$754,225

Program services were 0.0% 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.

  • 1f · All other contributions, gifts and grants

    $357,880

  • 3 · Investment income

    total $249 · related or exempt $249

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $754,225

  • 11c · Fees: accounting

    total $12,050

  • 13 · Office expenses

    total $1,481

  • 14 · Information technology

    total $2,748

  • 24a · Other expenses: Bank Charges

    total $2,055

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $522,488 · end of year $108,208

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,400 · end of year $6,550

  • 27 · Net assets without donor restrictions

    beginning of year $516,088 · end of year $101,658

Mission and programs · 2022

Mission

It is to support people and programs that build a stronger PR. The range of areas to be supported would include education, health, environment, economic development, disaster preparedness and response.

Activities or mission (Part I)

Support community programs and promote the the development and economic growth of Puerto Rico

  • As a result of the devastating impact of Hurricanes Irma and Maria, a majority of the vegetation, infrastructure and facilities in Flamenco Beach were destroyed The winds also brought a significant amount of debris to the shores of the beach. Although the sea is now open there is so much work to be done. Flamenco Beach is the most important tourist attraction on the island and the principal driver of income dfor both the Municipality and the residents. The entity has been working on the implemetation of a Master Plan for the beach that would allow the facilities of the beach to be resilient and sustainable. The Foundation is leading the raising of the necessary funds to implement the Master Plan.

    Expenses $496,630

  • The Foundation supported and collaborated with existing organizations that are doing philanthropic or community programs to a stronger Puerto Rico in the areas of education, health, the environment, economic development and disaster preparedness.

    Expenses $50,785

  • As a result of the devastating impact of Hurricane Fiona the entity provided emergency assistance to Culebra residents. The assistance was mostly food, furniture and fixtures.

    Expenses $206,810

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dennis R Hickey-Rivera

    President

    Total calculated
    $0
    Hours/week
    10

  • Tonio Burgos

    Vicepresident

    Total calculated
    $0
    Hours/week
    1

  • Theresa Bischoff

    Secretary Treasurer

    Total calculated
    $0
    Hours/week
    20

  • Betsy Gotbaum

    Board Director

    Total calculated
    $0
    Hours/week
    1

  • Keyla Torres

    Board Director

    Total calculated
    $0
    Hours/week
    1

  • Corrie Lefebvre

    Board Director

    Total calculated
    $0
    Hours/week
    1

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.

Grants on this return

  • Municipio de Culebra

    $496,630

    Disaster Assistance

  • Abbie's New School Inc

    $14,500

    Educational Program

  • Mujeres de Isla Inc

    $6,435

    Community Development

Provenance

Return type
form_990
Tax year
2022
Filed
10 October 2023
IRS schema version
2022v5.0
Source object
202312839349300541

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