Kinesis Inc
- Assets
- $15.9m
- Revenue
- $3.3m
- Investments
- $13.9m
- Employees
- 0
- Location
- Guaynabo, PR
- Founding
- 03/2010
- Data as of
- 06/2022
- EIN
- 66-0727042
Organization Overview
Kinesis Inc is located in Guaynabo, PR. The organization was established in 2010. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kinesis 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 06/2022, Kinesis Inc generated $3.3m in total revenue. The organization has seen a slow decline revenue. Over the past 3 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $3.7m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (4.1%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS PROGRAM - AIMS TO PROVIDE SCHOLARSHIPS TO QUALIFIED TALENTED YOUTH IN ORDER FOR THEM TO PURSUDEUNDERGRADUATE AND GRADUATE STUDIES IN PUERTO RICO AND ABROAD.
BRIGHT STARS PROGRAM- AIMS TO PROVIDE JUNIOR HIGH AND HIGH SCHOOL STUDENT'S ASSISTANCE AND COUNSELING TO PREPARE SUCH STUDENTS FOR A SUCCESSFUL COLLEGE CARRER. EXPAND OPPORTUNITY TO PUERTO RICO'S STUDENTS BY INSPIRING THE STUDENTS TO TAKE CHARGE OF THEIR FUTURE COLLEGE CAREERS BY PROVIDING ACCESS TO KEY PEOPLE AND RESOURCES, INCLUDING COLLEGE ADMITTANCE TEST. (I.E. SAT) AND OTHER GRADUATE SCHOOL ADMISSION TEST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jorge L Fernandez Bjerg Treasurer | 5 | $0 | |
Miguel Fernandez Richards Chairman, Pr | 20 | $0 | |
Socorro Julia Fernandez Director | 5 | $0 | |
Rafael Aragunde Torres Director | 5 | $0 | |
Angel Rivera Director | 5 | $0 | |
Jose Cruz Torres Executive Di | 40 | $2,212 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kinesis It Academy Inc | 6/29/22 | $476,153 |
Advance Development Group | 6/29/22 | $188,438 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,835,646 |
| Interest on Savings | $0 |
| Dividends & Interest | $404,733 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $96,018 |
| Total Revenue | $3,336,397 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $2,212 |
| Other employee salaries and wages | $955,819 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $134,154 |
| Depreciation | $117,822 |
| Occupancy | $118,846 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $3,056 |
| Other expenses | $333,800 |
| Total operating and administrative expenses | $2,062,362 |
| Contributions, gifts, grants paid | $1,604,195 |
| Total expenses and disbursements | $3,666,557 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $145,486 |
| Savings and temporary cash investments | $686,045 |
| Net Accounts receivable | $575,393 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $33,100 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $5,215,306 |
| Net Land, buildings, and equipment | $626,095 |
| Other assets | $0 |
| Total assets | $15,917,764 |
| Accounts payable and accrued expenses | $265,772 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $265,772 |
Grants Awarded
Over the last fiscal year, Kinesis Inc has awarded $1,604,195 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SCHOLARSHIPS TO STUDENTS STM ATT PURPOSE: EDUCATION AND SCHOLARSHIPS | $1,128,042 |
FROM KINESIS INC TO KINESIS IT ACAD PURPOSE: BRIGHT STAR PROGRAM SERVICES | $476,153 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kinesis Inc Guaynabo, PR | $15,917,764 | $3,336,397 |
James And Barbara Cimino Foundation Inc San Juan, PR | $19,393,150 | $1,227,140 |
Mcs Foundation Inc San Juan, PR | $57,300 | $1,235,049 |
Scaramella Faith Foundation Inc Rio Grande, PR | $1,247,532 | $55,861 |
Marie And Paul Napoli Foundation Dorado, PR | $0 | $291,683 |
Harvey Foundation Inc San Juan, PR | $3,274,881 | $88,086 |
Roca-Sanchez Charitable Foundation Inc Dorado, PR | $388,775 | $25,394 |
Miranda Foundation San Juan, PR | $0 | $2,028 |
Rill Family Foundation Inc Dorado, PR | $1,107,532 | $1,098,465 |