Luis A Ferre Foundation Inc
- Assets
- $45.9m
- Revenue
- $4.0m
- Investments
- $18.7m
- Employees
- 28
- Location
- San Juan, PR
- Founding
- 09/1966
- Data as of
- 06/2021
- EIN
- 66-0235625
Organization Overview
Luis A Ferre Foundation Inc is located in San Juan, PR. The organization was established in 1966. According to its NTEE Classification (A51) the organization is classified as: Art Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Luis A Ferre Foundation Inc employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Luis A Ferre Foundation 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 06/2021, Luis A Ferre Foundation Inc generated $4.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.8%) each year. All expenses for the organization totaled $8.2m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PRINCIPAL PURPOSE OF THE LUIS A. FERRE FOUNDATION, INC. (LAAF) IS TO OPERATE, MAINTAIN, CONSERVE, AND EXHIBIT ITS COLLECTION OF ART AT THE MUSEO DE ARTE DE PONCE (MAP), A MUSEUM IN PUERTO RICO ACCREDITED BY THE AMERICAN ALLIANCE OF MUSEUMS. LAFF OWNS ONE OF THE FINEST AND MOST IMPORTATNT COLLECTIONS OF EUROPEAN ART IN THE WESTERN HEMISPHERE. MUSEO DE ARTE DE PONCE CONNECTS THE COMMUNITY WITH THE RICHNESS OF THE WESTERN ART AND ITS MAKERS, FROM THE FOURTEENTH CENTURY TO THE PRESENT. IT INVITES DISCOVERY, STIMULATES CURIOSITY AND FOSTERS DIALOGUE. AS PART OF ITS OBJECTIVES, IT SEEKS TO PROMOTE APPRECIATION OF ART, OFFERS EDUCATIONAL AND RECREATIONAL RESOURCES, AND ESTABLISHES TIES WITH DISADVANTAGED COMMUNITIES IN PUERTO RICO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alejandra Pea Executive Di | $275,805 | ||
Floribeth Anciani Finance Dire | $101,252 | ||
Maria Luisa Ferre Rangel President & | OfficerTrustee | $0 | |
Pedro Buso Garcia Secretary | Officer | $0 | |
Maria J Miranda Cruz Treasurer | Officer | $0 | |
Carlos G Martinez Rivera Assistant Tr | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $189,950 |
| Related organizations | $0 |
| Government grants | $1,476,491 |
| All other contributions, gifts, grants, and similar amounts not included above | $686,460 |
| Noncash contributions included in lines 1a–1f | $392,614 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,352,901 |
| Total Program Service Revenue | $0 |
| Investment income | $423,005 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,100 |
| 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 | $10,567 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,960,485 |
| 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 | $1,309,777 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $146,753 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $467 |
| Fees for services: Accounting | $21,607 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $63,020 |
| Fees for services: Investment Management | $76,535 |
| Fees for services: Other | $200,674 |
| Advertising and promotion | $185,227 |
| Office expenses | $10,607 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $280 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $134,081 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $962,934 |
| Insurance | $378,074 |
| All other expenses | $0 |
| Total functional expenses | $8,216,282 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,242,451 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $119,273 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $51,752 |
| Prepaid expenses and deferred charges | $181,206 |
| Net Land, buildings, and equipment | $13,270,391 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $18,675,882 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,391,680 |
| Total assets | $45,932,635 |
| Accounts payable and accrued expenses | $798,761 |
| Grants payable | $0 |
| Deferred revenue | $9,667 |
| 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 | $5,119,379 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,927,807 |
| Net assets without donor restrictions | $38,740,767 |
| Net assets with donor restrictions | $1,264,061 |
| 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 | $45,932,635 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Luis A Ferre Foundation Inc has recieved totaling $45.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $45 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ponce Medical School Foundation Inc Ponce, PR | $11,600,859 | $25,661,618 |
Liga Puertorriquena Contra El Cancer San Juan, PR | $38,669,713 | $26,629,150 |
Universidad Central Del Caribe Inc Bayamon, PR | $35,289,249 | $27,377,681 |
Cooperativa De Ahorro Y Credito Oriental Humacao, PR | $433,041,205 | $23,460,952 |
Centros Sor Isolina Ferre Inc Ponce, PR | $22,315,489 | $16,849,878 |
Corp Serv Med Prim Y Prev De Hatillo Hatillo, PR | $36,236,018 | $21,541,946 |
Caribbean University Bayamon, PR | $48,412,485 | $17,932,008 |
Puerto Rico Legal Services Incorporated San Juan, PR | $18,895,657 | $19,069,485 |
Boys & Girls Clubs Of Puerto Rico Inc Carolina, PR | $20,563,847 | $15,690,113 |
Baldwin School Of Puerto Rico Inc Bayamon, PR | $21,469,124 | $15,474,261 |
Cooperative De Ahorro Y Credito De Barranquitas Barranquitas, PR | $321,931,771 | $17,940,942 |
Alianza Municipal De Servicios Caguas, PR | $4,966,942 | $12,673,262 |