Invest Puerto Rico Inc
- Assets
- $9.0m
- Revenue
- $16.4m
- Investments
- $0.0
- Employees
- 5
- Location
- San Juan, PR
- Founding
- 01/2020
- Data as of
- 06/2022
- EIN
- 66-0891535
Organization Overview
Invest Puerto Rico Inc is located in San Juan, PR. The organization was established in 2020. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Invest Puerto Rico Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Invest 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 06/2022, Invest Puerto Rico Inc generated $16.4m in total revenue. All expenses for the organization totaled $13.7m during the year ending 06/2022. While expenses have increased by 79.8% per year over the past 2 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ORGANIZATION IS TO PROMOTE PUERTO RICO AS A COMPETITIVE INVESTMENT JURISDICTION TO ATTRACT NEW BUSINESS AND CAPITAL INVESTMENT TO THE ISLAND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
.
SEE SCHEDULE O
SEE SCHEDULE O
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Manuel Cidre Chairman | Officer | $0 | |
James R Collins Treasurer | Officer | $0 | |
Christian Gonzalez Member | Officer | $0 | |
Brenda Marrero Secretary | Officer | $0 | |
Omar Marrero Member | Officer | $0 | |
Humberto Mercader Member | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $16,325,171 |
| All other contributions, gifts, grants, and similar amounts not included above | $38,057 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,363,228 |
| Total Program Service Revenue | $0 |
| Investment income | $9,160 |
| 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 | $16,374,498 |
| 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 | $2,292,417 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $161,420 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $81,630 |
| Fees for services: Accounting | $76,033 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $295,261 |
| Advertising and promotion | $438,604 |
| Office expenses | $121,035 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $166,111 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,617 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $109,087 |
| Insurance | $155,602 |
| All other expenses | $266,994 |
| Total functional expenses | $13,676,119 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,338,663 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $637,009 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $126,840 |
| Net Land, buildings, and equipment | $911,031 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $30,318 |
| Total assets | $9,043,861 |
| Accounts payable and accrued expenses | $1,111,954 |
| 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 | $0 |
| Total liabilities | $1,111,954 |
| Net assets without donor restrictions | $7,931,907 |
| 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 | $9,043,861 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Invest Puerto Rico Inc San Juan, PR | $9,043,861 | $16,374,498 |
Enterprize Events Inc San Juan, PR | $693,378 | $2,154,770 |
Bluetide Puerto Rico Inc San Juan, PR | $5,254,223 | $6,094,144 |
Fondo De Inversion Y Desarrollo Cooperative Inc San Juan, PR | $39,779,010 | $3,002,093 |
Conprmetidos San Juan, PR | $1,344,619 | $936,762 |
Vitrina Solidaria Inc San Juan, PR | $379,482 | $739,435 |
Protechos Inc San Juan, PR | $195,755 | $685,798 |
Endeavor Initiative Puerto Rico Inc San Juan, PR | $379,223 | $624,539 |
Asesores Financieros Comunitarios Inc San Juan, PR | $385,116 | $322,607 |
El Corredor Tecno Economico De Puerto Rico Y El Caribe Mayaguez, PR | $1,167,209 | $304,576 |
Industry University Research Center Inc San Juan, PR | $45,736 | $224,174 |
Puerto Rico 4-0 Mts Corporacion Bayamon, PR | $0 | $0 |