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Nonprofiteer
← PUERTO RICO CONSERVATION TRUST

Form 990 for tax year 2022

Filed by PUERTO RICO CONSERVATION TRUST.

Totals

Total revenue
$22,841,169
Total expenses
$42,304,928
Contributions and grants received
$6,859,346
Grants paid
$619,242
Program service revenue
$0
Investment income
$15,895,657
Other revenue
$86,166
Total assets, end of year
$612,506,378
Total liabilities, end of year
$224,293,523
Net assets or fund balances, end of year
$388,212,855
Program services expenses (Part IX)
$27,858,903
Management and general expenses
$14,446,025
Fundraising expenses
$0
Program service expenses (Part III)
$27,858,903

Program services were 65.9% 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

    $4,191

  • 1f · All other contributions, gifts and grants

    $6,855,155

  • 1g · Noncash contributions included above

    $22,100

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $21,712,844 · excluded $21,712,844

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $42,753,468

  • 7b · Less cost or other basis and sales expenses

    securities $48,570,655

  • 7c · Gain or loss

    securities -$5,817,187 · other assets $0

  • 7d · Net gain or loss

    total -$5,817,187 · excluded -$5,817,187

  • 11a · Other revenue: Fiscal Sponsor Fees

    total $69,316 · related or exempt $69,316

  • 11b · Other revenue: NMTC Interest Income

    total $16,850 · related or exempt $16,850

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $86,166

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $609,242 · program services $609,242

  • 2 · Grants to domestic individuals

    total $10,000 · program services $10,000

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 11f · Fees: investment management

    total $491,182 · management and general $491,182

  • 11g · Fees: other

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

  • 16 · Occupancy

    total $15,000 · program services $15,000

  • 20 · Interest

    total $13,902,810 · management and general $13,902,810

  • 22 · Depreciation, depletion and amortization

    total $2,097,237 · program services $2,097,237

  • 23 · Insurance

    total $44,838 · management and general $44,838

  • 24a · Other expenses: Management Fees

    total $25,127,424 · program services $25,127,424

  • 24b · Other expenses: Bank Charges

    total $7,195 · management and general $7,195

  • 24e · All other expenses

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

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,742,781 · end of year $5,251,888

  • 2 · Savings and temporary cash investments

    beginning of year $23,413,772 · end of year $10,870,946

  • 4 · Accounts receivable

    beginning of year $40,120 · end of year $40,120

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $9,145,144 · end of year $6,841,000

  • 9 · Prepaid expenses and deferred charges

    end of year $41,451

  • 10a · Land, buildings and equipment: cost or other basis

    $166,045,514

  • 10b · Land, buildings and equipment: accumulated depreciation

    $24,982,752

  • 10c · Land, buildings and equipment, net

    beginning of year $140,590,088 · end of year $141,062,762

  • 11 · Investments: publicly traded securities

    beginning of year $489,064,726 · end of year $437,040,391

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $5,320,000 · end of year $5,342,100

  • 15 · Other assets

    beginning of year $5,991,659 · end of year $6,015,720

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,700,708 · end of year $16,012,369

  • 19 · Deferred revenue

    beginning of year $255,821 · end of year $240,156

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $218,158,919 · end of year $208,040,998

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $135,193,609 · end of year $106,771,730

  • 28 · Net assets with donor restrictions

    beginning of year $313,999,233 · end of year $281,441,125

Mission and programs · 2022

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 $27,858,903 · Grants $619,242 · Revenue $86,166

As filed on the 2022 return.

Listed in Part VII

  • Blas B Fonalledas

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Joaquin B Viso

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Juan Carlos Benitez

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Lic Fernando Lloveras

    EXECUTIVE DIRECTOR

    Total calculated
    $321,240
    From this org
    $0
    From related orgs
    $276,019
    Other
    $45,221
    Hours/week
    5 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $276,019 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $43,478 related
    Nontaxable benefits
    $0 + $1,743 related
    Filer's total
    $0 + $321,240 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

  • G-8 Grupo de las Ocho Comunidades

    $153,601

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

  • Cuerpo Climatico

    $141,105

    To provide operational support to the climate corps of Puerto Rico

  • Corp del Proy Enlace del Cao Martin P

    $79,117

    Youth Leadership and Violence Prevention Programs

  • Boys & Girls Club

    $71,250

    The grant will provide funds for providing daily hot meals and snacks to the children of the BGCPR in the Island of Vieques

  • Fundacion Unidos Para Servir

    $68,600

    To support the construction and completion of their industrial community kitchen

  • Happy Sonship

    $39,895

    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

  • Haser

    $14,600

    This grant will provide funds for the purchase of produce (fruits and vegetables) from a collective of 10-15 agro ecological area farmers which will then be distributed to two nonprofit organizations in the Aibonito Community: Casa Pensamiento de Mujer del CentroIncand Centro de Envejecientes del Campito

  • FID de la Tierra del Cao Martin Pea

    $10,423

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

  • Eduquemos para la Vida

    $10,000

    For the purchase of 1000 hens and feed for such. This grant is to help the farmers at Finca Pastoreo (FP) replace some of the over 4800 hens they lost in the Fiona Floods. FP provides community outreach, craft training, educational programs and apprenticeships in their unique area of expertise (local production of healthy / organic eggs, pork, goat and cattle meat products).

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 $0 · share of assets $68,498 · controlled entity

    Directly controlled by PUERTO RICO CONSERVATION TRUST FUND

Provenance

Return type
form_990
Tax year
2022
Filed
16 November 2023
IRS schema version
2022v5.0
Source object
202303199349329165

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