Fundacion Biblioteca Rafael Hernandez Colon Inc
- Assets
- $7.8m
- Revenue
- $614.4k
- Investments
- $0.0
- Employees
- 9
- Location
- Ponce, PR
- Founding
- 02/1994
- Data as of
- 12/2021
- EIN
- 66-0490323
Organization Overview
Fundacion Biblioteca Rafael Hernandez Colon Inc is located in Ponce, PR. The organization was established in 1994. As of 12/2023, Fundacion Biblioteca Rafael Hernandez Colon Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fundacion Biblioteca Rafael Hernandez Colon 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 12/2021, Fundacion Biblioteca Rafael Hernandez Colon Inc generated $614.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (27.8%) each year. All expenses for the organization totaled $718.2k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
LIBRARY WHICH SERVES AS THE ARCHIVE FOR DOCUMENTS AND OTHER MATERIALS RELATED TO THE FORMER GOVERNORS TENURE CONDUCT STUDIES ON TOPICS
Describe the Organization's Program Activity:
GUBERNATORIAL LIBRARY ARCHIVES FOR DOCUMENTS, RECORDS AND OTHER MATERIALS, SUCH AS VIDEO AND AUDIO TAPES RELATED TO THE WORK AND ACHIEVEMENTS OF FORMER PUERTO RICO GOVERNOR RAFAEL HERNANDEZ COLON AS A PUBLIC SERVANT AND FORMER FIRST LADY LILA MAYORAL WIRSHING.
PREPARE IDIVIDUALS TO RECOGNIZE THE IMPORTANCE OF LEADERSHIP IN PUBLIC SERVICE KEEPING IN MIND THE ACTUAL PUERTO RICAN SOCIETY. THE PARTICIPANTS SHALL BE DEVELOPED AS LEADERS IN PUBLIC SERVICE, EMPHASIZING COLLABORATION AND COLLECTIVE GOALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Victor Otano Nieves Prev Executive Directo | 40 | $35,300 | |
Dora M Hernandez Mayoral Executive Director | Trustee | 40 | $30,300 |
Jose A Hernandez Mayoral President | OfficerTrustee | 4 | $0 |
Jorge L Fuentes Benejam Vice President | OfficerTrustee | 4 | $0 |
Angel Vazquez Hernandez Treasurer | OfficerTrustee | 4 | $0 |
Alfredo Fernandez Martinez Secretary | OfficerTrustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bizzness Consulting Lab Professional Services | 12/30/21 | $8,700 |
Julio A Gonzalez-olan Systems | 12/30/21 | $6,783 |
Reinaldo E Gonzalez-blanco Archivist | 12/30/21 | $6,881 |
Gerardo L Berrios-martinez | 12/30/21 | $6,307 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $535,579 |
| Investment income | $1,381 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,554 |
| Net Rental Income | $1,936 |
| 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 | -$22,084 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $614,366 |
| Statement of Expenses | |
|---|---|
| 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. | $60,300 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,385 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,765 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,588 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $34,491 |
| Advertising and promotion | $600 |
| Office expenses | $78,705 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $51,169 |
| Travel | $2,846 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $147,165 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $276,477 |
| Insurance | $10,847 |
| All other expenses | $0 |
| Total functional expenses | $718,156 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $587,160 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $364,180 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,276 |
| Prepaid expenses and deferred charges | $57,225 |
| Investments—publicly traded securities | $33,037 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $37,800 |
| Total assets | $7,833,825 |
| Accounts payable and accrued expenses | $84,770 |
| Grants payable | $0 |
| Deferred revenue | $85,270 |
| 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 | $1,414,212 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $556,807 |
| Total liabilities | $2,141,059 |
| Net assets without donor restrictions | $4,940,504 |
| Net assets with donor restrictions | $410,064 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $5,692,766 |