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Nonprofiteer
← PUERTO RICO INDUSTRIES FOR THE BLIND

Form 990 for tax year 2024

Filed by PUERTO RICO INDUSTRIES FOR THE BLIND.

Totals

Total revenue
$36,949,851
Total expenses
$36,678,189
Contributions and grants received
$1,441,108
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$35,508,743
Total assets, end of year
$26,220,030
Total liabilities, end of year
$24,525,222
Net assets or fund balances, end of year
$1,694,808
Program services expenses (Part IX)
$31,970,685
Management and general expenses
$4,707,504
Fundraising expenses
$0
Program service expenses (Part III)
$31,970,685

Program services were 87.2% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $1,441,108

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 10a · Gross sales of inventory

    $35,327,752

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $35,327,752 · related or exempt $35,327,752 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $180,991 · related or exempt $180,991 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $180,991

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $4,275,669 · program services $2,922,123 · management and general $1,353,546

  • 9 · Other employee benefits

    total $1,299,369 · program services $442,633 · management and general $856,736

  • 10 · Payroll taxes

    total $464,574 · program services $386,728 · management and general $77,846

  • 11g · Fees: other

    total $1,119,249 · program services $688,285 · management and general $430,964

  • 13 · Office expenses

    total $88,624 · management and general $88,624

  • 16 · Occupancy

    total $332,531 · management and general $332,531

  • 17 · Travel

    total $20,721 · management and general $20,721

  • 20 · Interest

    total $742,737 · management and general $742,737

  • 22 · Depreciation, depletion and amortization

    total $748,600 · program services $748,600

  • 23 · Insurance

    total $129,430 · management and general $129,430

  • 24a · Other expenses: Costs of Manufactured Goods Sold

    total $26,475,804 · program services $26,475,804 · management and general $0 · fundraising $0

  • 24b · Other expenses: Repairs and Maintenance

    total $266,553 · program services $266,553 · management and general $0 · fundraising $0

  • 24c · Other expenses: Utilities

    total $291,040 · program services $3,667 · management and general $287,373

  • 24d · Other expenses: Amortization of Right of Use

    total $161,913 · program services $0 · management and general $161,913

  • 24e · All other expenses

    total $261,375 · program services $36,292 · management and general $225,083

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $369,172 · end of year $2,000

  • 4 · Accounts receivable

    beginning of year $7,739,264 · end of year $8,846,315

  • 8 · Inventories for sale or use

    beginning of year $5,786,860 · end of year $8,886,426

  • 9 · Prepaid expenses and deferred charges

    beginning of year $391,547 · end of year $521,590

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

    $9,882,438

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

    $3,546,401

  • 10c · Land, buildings and equipment, net

    beginning of year $4,782,905 · end of year $6,336,037

  • 15 · Other assets

    beginning of year $1,644,702 · end of year $1,627,662

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,069,682 · end of year $16,560,517

  • 24 · Unsecured notes and loans payable

    beginning of year $7,221,622 · end of year $7,964,705

  • 27 · Net assets without donor restrictions

    beginning of year $1,423,146 · end of year $1,694,808

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2024

Mission

Train and employ people with severe disabilities that are in need of training, employment and services.

  • Manufacturing Expenses

    Expenses $5,358,182

  • Costs of Manufactured Goods Sold

    Expenses $26,612,503

As filed on the 2024 return.

Listed in Part VII

  • Josean Feliciano

    DIRECTOR

    Total calculated
    $162,051
    From this org
    $162,051
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $162,050
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $162,050

  • John Joseph Dodge

    MEMBER

    Total calculated
    $0
    Hours/week
    10

  • John Hadas

    MEMBER

    Total calculated
    $0
    Hours/week
    10

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

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

No itemized grants to organizations on this return.

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.

  • Hardwick Tactical Corp

    C · MANUFACTURE · PR · 100% owned · controlled entity

Provenance

Return type
form_990
Tax year
2024
Filed
21 May 2025
IRS schema version
2024v5.0
Source object
202521719349300717

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