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PR Minority Supplier Development Co

Tax-deductible

San Juan, PR501(c)(3) EIN 66-0395316Revenue $1.0M in FY2024

On file with the IRSprmsdc.orgPo Box 192410, 00919-2410 · San Juan, PRTax-exempt since Jan 1974Publicly supported charity — 170(b)(1)(A)(vi)

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To target to increase the amount of business opportunities provided by our members to the bona fide mbe(Minority business enterprise) certified

501(c)(3) charity; gifts are tax-deductible.
42¢ of each $1 spent went to programs.
$114K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $226K a year · 26% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
42%
of spending
Concern: 42% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$114K
to officers and key staff · 15% of spending
Looks good: pay to officers and key staff is 15% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
15 mo
of spending, in cash
Plus $1.1M in investments, Pt X · Ln 11–13
Looks good: 14.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$197K
8% of total assets
Looks good: liabilities are 8% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 12 voting members
Looks good: 11 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.0M
+3% vs prior year
Spent
$754K
To programs
42%
Net assets
$2.2M
By yearFY2020–FY2024
Revenue
$1.0M
FY2024▲ +3%
Tap a bar for its year
Revenue by fiscal year
FY2020$742K
FY2021$762K
FY2022$839K
FY2023$990K
FY2024$1.0M
Expenses
$754K
FY2024▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2020$544K
FY2021$555K
FY2022$660K
FY2023$704K
FY2024$754K
Net assets
$2.2M
FY2024▲ +14%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.3M
FY2021$1.5M
FY2022$1.6M
FY2023$1.9M
FY2024$2.2M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Exemption reinstated (2014-05-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in Jan 1974.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

42 cents of each dollar spent went to programs.

Program services 42% · $318K Management & general 50% · $379K Fundraising 8% · $57K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990; $114K paid to officers and key staff.

Part VII, Section A · reportable compensation
$113,597Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Jessica Colon Tiru
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Francisco Cabrera Galindo$113,597$110,451$107,251$103,100$101,100

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See PR Minority Supplier Development Co executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Connects certified minority businesses with more opportunities from members.

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Provided by the organization

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3 programs · $318K · in their own filed words · FY2024
01

Includes certification development and corporate referrals for business

$206Kprogram expense
02

Events

1) business opportunities -annual conference to provide opportunities and education to corporate members and certified suppliers 2)RECOGNITION and other events-activities to connect suppliers and corporate members

$101Kprogram expense
03

Scholarship program-help ease the the financial burden on student s families, empowering students to achieve their educational goals and build a secure future. Targets on students with financial needs who demonstrate leadership potential to contribute to their schools, local communities , and their future workplaces.

$11Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
National Minority Supplier Development Council INCFY2023$10K
Total grants receivedfrom 1 funder$10K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.0M
Ln 12
Fees for servicesLn 2g$494K
Gifts and grantsLn 1h$451K
Investment incomeLn 3$69K
Money outPt IX
$754K
Ln 25
Programscol B$318K
Managementcol C$379K
Fundraisingcol D$57K
Owns and owesPt X
$2.2M
net assets · Ln 32
Cash and savingsLn 1–2$921K
Total assetsLn 16$2.4M
LiabilitiesLn 26$197K
PeoplePt VI, VII
12
listed · VII A
PaidVII A1
Voting boardVI 1a12
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$451K
Fundraising eventsLn 1c$57K
Fees for servicesLn 2g$494K
Investment incomeLn 3$69K
Other incomeLn 4–11$395
Total revenueLn 12$1.0M
Assets in detailPt X, end of year
SavingsLn 2$921K
Cash and savings togetherLn 1–2$921K
InvestmentsLn 11–13$1.1M
Land, buildings, equipmentLn 10c$34K
Other assetsLn 15$199K
Total assetsLn 16$2.4M
LiabilitiesLn 26$197K
Net assetsLn 32$2.2M
OperationsPt I, VI
EmployeesI 57
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$821K$921K
InvestmentsLn 11–13$1.0M$1.1M
Land, buildings, equipmentLn 10c$48K$34K
Total assetsLn 16$2.2M$2.4M
LiabilitiesLn 26$238K$197K
Net assetsLn 32$1.9M$2.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$114K$8K$106K
Other salaries and wagesLn 7$186K$110K$76K
Pension plan contributionsLn 8$6K$6K
Other employee benefitsLn 9$42K$19K$23K
Payroll taxesLn 10$25K$9K$15K
Professional fundraising feesLn 11e$2K$2K
Other fees for servicesLn 11g$38K$12K$26K
Office expensesLn 13$7K$425$7K
Information technologyLn 14$4K$4K
OccupancyLn 16$65K$39K$26K
TravelLn 17$512$512
Conferences, conventions and meetingsLn 19$18K$18K
Depreciation, depletion and amortizationLn 22$18K$18K
InsuranceLn 23$7K$7K
Other expenses (24a–d)Ln 24$68K$9K$12K$46K
All other expensesLn 24e$155K$110K$36K$9K
Total functional expensesLn 25$754K$318K$379K$57K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.0M$754K$261K$2.2M 990 PDF
FY2023 $990K$704K$286K$1.9M 990 PDF
FY2022 $839K$660K$179K$1.6M 990 PDF
FY2021 $762K$555K$207K$1.5M 990 PDF
FY2020 $742K$544K$198K$1.3M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $1,014,946 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $481,197$451,227
I-9 Program service revenuePrior year $474,566$493,923
I-10 Investment incomePrior year $33,351$69,401
I-11 Other revenuePrior year $450$395
I-12 Total revenuePrior year $989,564$1,014,946
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $396,608$372,182
I-16a Professional fundraising fees$1,550
I-17 Other expensesPrior year $307,106$379,874
I-18 Total expensesPrior year $703,714$753,606
I-19 Revenue less expensesPrior year $285,850$261,340
Part VI · Governance 11 of 12 board members independent, 1 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members11
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,014,946 across 8 lines filed
VIII-1b Membership dues$32,650
VIII-1c Fundraising events$56,575
VIII-1f All other contributions, gifts and grants$362,002
VIII-1h Total contributions, gifts and grants$451,227
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $493,923$493,923
VIII-3 Investment incomeRelated to mission $69,401$69,401
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $395$395
VIII-12 Total revenueRelated to mission $563,719$1,014,946
Part IX · Statement of functional expenses $753,606 across 16 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $7,952 · Management $105,645$113,597
IX-7 Other salaries and wagesPrograms $110,458 · Management $75,626$186,084
IX-8 Pension plan contributionsManagement $5,680$5,680
IX-9 Other employee benefitsPrograms $19,129 · Management $23,019$42,148
IX-10 Payroll taxesPrograms $9,460 · Management $15,213$24,673
IX-11e Professional fundraising feesFundraising $1,550$1,550
IX-11g Other fees for servicesPrograms $12,013 · Management $26,106$38,119
IX-13 Office expensesPrograms $425 · Management $6,877$7,302
IX-14 Information technologyManagement $3,650$3,650
IX-16 OccupancyPrograms $39,153 · Management $26,103$65,256
IX-17 TravelManagement $512$512
IX-19 Conferences, conventions and meetingsManagement $17,706$17,706
IX-22 Depreciation, depletion and amortizationManagement $17,558$17,558
IX-23 InsuranceManagement $6,677$6,677
IX-24 Other expenses (24a–d)Programs $8,931 · Management $12,454 · Fundraising $46,479$67,864
IX-24e All other expensesPrograms $110,484 · Management $36,200 · Fundraising $8,546$155,230
IX-25 Total functional expensesPrograms $318,005 · Management $379,026 · Fundraising $56,575$753,606
Part X · Balance sheet $2,389,997 assets, 13 lines filed
X-2 Savings and temporary cash investmentsStart of year $820,732$921,123
X-3 Pledges and grants receivableStart of year $95,819$106,148
X-10c Land, buildings and equipment, netStart of year $48,348$33,589
X-13 Program-related investmentsStart of year $1,041,918$1,130,367
X-15 Other assetsStart of year $162,991$198,770
X-16 Total assetsStart of year $2,169,848$2,389,997
X-17 Accounts payable and accrued expensesStart of year $49,595$39,640
X-19 Deferred revenueStart of year $46,875$19,025
X-25 Other liabilitiesStart of year $141,687$138,301
X-26 Total liabilitiesStart of year $238,157$196,966
X-27 Net assets without donor restrictionsStart of year $1,931,691$2,193,031
X-32 Total net assets or fund balancesStart of year $1,931,691$2,193,031
X-33 Total liabilities and net assetsStart of year $2,169,848$2,389,997
Part XI · Reconciliation of net assets $2,193,031 net assets at year end
XI-1 Total revenue$1,014,946
XI-2 Total expenses$753,606
XI-3 Revenue less expenses$261,340
XI-4 Net assets at start of year$1,931,691
XI-10 Net assets at end of year$2,193,031

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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