Ricky Martin Foundation Corp
- Assets
- $2.4m
- Revenue
- $279.8k
- Investments
- $0.0
- Employees
- 3
- Location
- San Juan, PR
- Founding
- 06/2004
- Data as of
- 12/2023
- EIN
- 66-0579504
Organization Overview
Ricky Martin Foundation Corp is located in San Juan, PR. The organization was established in 2004. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2023, Ricky Martin Foundation Corp employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ricky Martin Foundation Corp 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 12/2023, Ricky Martin Foundation Corp generated $279.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (19.3%) each year. All expenses for the organization totaled $525.7k during the year ending 12/2023. 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 PROMOTE, DEFEND, AND EDUCATE ABOUT HUMAN RIGHTS TO ENSURE DIGNIFIED TREATMENT, EQUAL OPPORTUNITIES, AND THE INCLUSION OF ALL PEOPLE TO ACCESS A DIGNIFIED AND FREE LIFE, INCLUDING BUT NOT LIMITED TO THOSE WHO ARE VICTIMS OF HUMAN TRAFFICKING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CENTRO TAU- FORMED AN ALLIANCE BETWEEN 3 ORGANIZATIONS TO ESTABLISH THE CAY SCHOOL IN OUR BUILDING TO PROVIDE EDUCATIONAL SERVICES FOR CHILDREN FROM KINDERGARDEN TO FIFTH GRADE. SIMULTANEOUSLY, WE PREPARED CLASSROOMS FOR THE ENTIRE COMMUNITY, SPECIALLY FOR THE PROFESSIONAL DEVELOPMENT OF WOMEN AND FAMILIES, THROUGH SEWING PROGRAMS, ENTREPRENEURSHIP, AND EDUCATIONAL WORKSHOPS TAILORED TO THEIR INTERESTS.
AWARENESS & ADVOCACY - OUR FOUNDER ENRIQUE MARTIN MORALES PRESENTING THE ACCOMPLISHED WORKTO THE UNITED ARAB EMIRATES AND AN EDUCATIONAL TOUR ON HUMAN TRAFFICKING IN THE AVIATION INDUSTRY IN PUERTO RICO. BOTH EXPERIENCES WHERE WE AMPLIFIED EFFORTS TO STRIVE FOR SOCIETIES AND SPACES FREE FROM EXPLOITATION, SIMULTANEOUSLY PROMOTING THE PREVENTION OF ALL FORMS OF VIOLENCE.
HUMANITARIAN RELIEF- THE ORGANIZATION RESUMED THE REHABILITATION OF THREE ADDITIONAL HOUSEHOLDS IN THE MUNICIPALITY OF LOIZA POSITIVELY IMPACTING THE LIVES OF THREE FAMILIES COMPRISING A TOTAL OF SEVEN MEMBERS. THIS INITIATIVE NOT ONLY ADDRESSES HOUSING NEEDS BUT ALSO SYMBOLIZES A SIGNIFICANT STEP TOWARDS PROVIDING STABLE AND SECURE LIVING CONDITIONS FOR THESE FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Enery Rivera Ortiz President | Trustee | 2 | $0 |
Manuel Morales Vice President | Trustee | 2 | $0 |
Sofia Martinez-Alvarez Secretary | Trustee | 2 | $0 |
Juan Lorenzo Martinez Treasurer | Trustee | 2 | $0 |
Eli Sepulveda Director | Trustee | 2 | $0 |
Enrique Martin Chairman | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Indesovi Construction | 12/30/19 | $1,600,000 |
Jasa Construction Corp Construction | 12/30/19 | $2,288,856 |
Polanco Construction Construction | 12/30/19 | $230,047 |
The Saint Bernard Project Inc Construction | 12/30/19 | $279,863 |
Indesovi Construction | 12/30/19 | $1,600,000 |
Jasa Construction Corp Construction | 12/30/19 | $2,288,856 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $204,414 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $204,414 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| 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 | $279,797 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $91,049 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $211,108 |
| Advertising and promotion | $0 |
| Office expenses | $21,678 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,747 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,606 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $117,292 |
| Insurance | $18,929 |
| All other expenses | $8,171 |
| Total functional expenses | $525,721 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $191,391 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $50,646 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $39,737 |
| Prepaid expenses and deferred charges | $3,965 |
| Net Land, buildings, and equipment | $2,100,702 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,386,441 |
| Accounts payable and accrued expenses | $223,206 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $234,526 |
| Total liabilities | $457,732 |
| Net assets without donor restrictions | -$3,620,518 |
| Net assets with donor restrictions | $5,549,227 |
| 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 | $2,386,441 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ricky Martin Foundation Corp San Juan, PR | $2,386,441 | $279,797 |
Magnolia Foundation Rio Grande, PR | $422,916 | $25,195 |
Christian Giving Corp Humacao, PR | $13,690 | $0 |
Teri Ijeoma Family Foundation Bayamon, PR | $3,400,439 | $1 |
Beltran Family Foundation Inc Coto Laurel, PR | $646,520 | $28,593 |