Banco De Alimentos Puerto Rico Inc
- Assets
- $18.6m
- Revenue
- $35.2m
- Investments
- $0.0
- Employees
- 27
- Location
- Carolina, PR
- Founding
- 01/1992
- Data as of
- 06/2023
- EIN
- 66-0444882
Organization Overview
Banco De Alimentos Puerto Rico Inc is located in Carolina, PR. The organization was established in 1992. According to its NTEE Classification (K30) the organization is classified as: Food Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 06/2023, Banco DE Alimentos Puerto Rico Inc employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Banco DE Alimentos Puerto Rico Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Banco DE Alimentos Puerto Rico Inc generated $35.2m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $34.2m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO REDUCE HUNGER THROUGH FOOD DISTRIBUTION, AND FOOD PROGRAMS AND EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NO SIGNIFICANT PROGRAMS ARE LISTED IN THIS SECTION SINCE THE ORGANIZATION'S PROGRAM SERVICES ARE MAINLY FOOD DISTRIBUTION. THROUGHOUT THE YEAR 100% OF THE ORGANIZATION EFFORTS GO TOWARDS CONSTANTLY PROVIDING FOOD AND OTHER GOODS TO FAMILIES IN NEED AND WORKING ON ERADICATING HUNGER. NO OTHER SIGNIFICANT PROGRAMS WERE IN PLACE DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maria J Laborde Carlo Executive Director | Officer | 40 | $77,359 |
Michael DE Jesus Operations Manager | Officer | 40 | $59,883 |
Damaris Soto Program Manager | Officer | 40 | $50,835 |
Franklin Valentin Lopez Food Sourcing Manager | Officer | 40 | $16,416 |
Nicole E Rios Julia President Of The Board | Trustee | 3 | $0 |
Lcda Adriana Perez Rentas Secretary Of The Board | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Eagle Logistics Systems Sea Transportation | 6/29/23 | $123,975 |
Aireko Energy Group Construction Services | 6/29/23 | $251,859 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $7,350 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $35,053,043 |
| Noncash contributions included in lines 1a–1f | $28,008,428 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $35,060,393 |
| Total Program Service Revenue | $0 |
| Investment income | $32,891 |
| Tax Exempt Bond Proceeds | $152,781 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $35,246,065 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $204,493 |
| Compensation of current officers, directors, key employees. | $24,539 |
| Compensation to disqualified persons | $916,679 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $98,759 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,270 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $89,490 |
| Advertising and promotion | $87,654 |
| Office expenses | $10,199 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $637,630 |
| Insurance | $66,385 |
| All other expenses | $480,286 |
| Total functional expenses | $34,163,913 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,792,505 |
| Savings and temporary cash investments | $266,049 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,123 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $641,493 |
| Prepaid expenses and deferred charges | $31,190 |
| Net Land, buildings, and equipment | $4,826,636 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $18,563,996 |
| Accounts payable and accrued expenses | $279,629 |
| Grants payable | $0 |
| Deferred revenue | $6,806,901 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $7,086,530 |
| Net assets without donor restrictions | $11,477,466 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $18,563,996 |