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PR Minority Supplier Development Co FY2022 filing

Tax-deductible

San Juan, PR501(c)(3)EIN 66-0395316Revenue $839K in FY2022

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.
46¢ of each $1 spent went to programs.
$107K 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

FY2022 · 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
46%
of spending
Concern: 46% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$107K
to officers and key staff · 16% of spending
Fine: pay to officers and key staff is 16% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
24 mo
of spending, in cash
Looks good: 23.6 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
$252K
13% of total assets
Looks good: liabilities are 13% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 11 voting members
Looks good: 10 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$839K
+10% vs prior year
Spent
$660K
To programs
46%
Net assets
$1.6M
By yearFY2020–FY2024
Revenue
$839K
FY2022▲ +10%
Tap a bar for its year
Revenue by fiscal year
FY2020$742K
FY2021$762K
FY2022$839K
FY2023$990K
FY2024$1.0M
Expenses
$660K
FY2022▲ +19%
Tap a bar for its year
Expenses by fiscal year
FY2020$544K
FY2021$555K
FY2022$660K
FY2023$704K
FY2024$754K
Net assets
$1.6M
FY2022▲ +12%
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 FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

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

46 cents of each dollar spent went to programs.

Program services 46% · $302K Management & general 54% · $358K

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

11 people listed on the 990; $107K paid to officers and key staff.

Part VII, Section A · reportable compensation
$107,251Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Juan Senquiz
Director
$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.

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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.

Questions for PR Minority Supplier Development Co

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Provided by the organization

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2 programs · $302K · in their own filed words · FY2022
01

Includes certification development and corporate referrals for business opportunities.

$196Kprogram 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 3)Centers of Excellence Certificate Program-Provide certified minority supplier development.

$105Kprogram 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 FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$839K
Ln 12
Fees for servicesLn 2g$458K
Gifts and grantsLn 1h$377K
Investment incomeLn 3$2K
Money outPt IX
$660K
Ln 25
Programscol B$302K
Managementcol C$358K
Owns and owesPt X
$1.6M
net assets · Ln 32
Cash and savingsLn 1–2$1.3M
Total assetsLn 16$1.9M
LiabilitiesLn 26$252K
PeoplePt VI, VII
11
listed · VII A
PaidVII A1
Voting boardVI 1a11
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$377K
Fees for servicesLn 2g$458K
Investment incomeLn 3$2K
Other incomeLn 4–11$1K
Total revenueLn 12$839K
Assets in detailPt X, end of year
CashLn 1$128
SavingsLn 2$1.3M
Cash and savings togetherLn 1–2$1.3M
InvestmentsLn 11–13$267K
Land, buildings, equipmentLn 10c$60K
Other assetsLn 15$190K
Total assetsLn 16$1.9M
LiabilitiesLn 26$252K
Net assetsLn 32$1.6M
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 FY22End FY22
Cash and savingsLn 1–2$1.1M$1.3M
InvestmentsLn 11–13$266K$267K
Land, buildings, equipmentLn 10c$68K$60K
Total assetsLn 16$1.5M$1.9M
LiabilitiesLn 26$42K$252K
Net assetsLn 32$1.5M$1.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$107K$7K$99K
Other salaries and wagesLn 7$204K$118K$86K
Pension plan contributionsLn 8$10K$10K
Other employee benefitsLn 9$37K$18K$19K
Payroll taxesLn 10$24K$10K$15K
Other fees for servicesLn 11g$30K$14K$16K
Office expensesLn 13$1K$1K
Information technologyLn 14$5K$5K
OccupancyLn 16$59K$35K$24K
TravelLn 17$382$382
Conferences, conventions and meetingsLn 19$15K$10K$5K
Depreciation, depletion and amortizationLn 22$19K$19K
InsuranceLn 23$7K$7K
Other expenses (24a–d)Ln 24$82K$59K$23K
All other expensesLn 24e$59K$30K$29K
Total functional expensesLn 25$660K$302K$358K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.0M$754K$261K$2.2M 990 PDF
FY2023 $990K$704K$286K$1.9M 990 PDF
FY2022 Viewing $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 I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $838,661 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $333,157$377,158
I-9 Program service revenuePrior year $357,085$458,194
I-10 Investment incomePrior year $4,759$2,027
I-11 Other revenuePrior year $67,319$1,282
I-12 Total revenuePrior year $762,320$838,661
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $329,644$382,008
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $225,697$277,892
I-18 Total expensesPrior year $555,341$659,900
I-19 Revenue less expensesPrior year $206,979$178,761
Part VI · Governance 10 of 11 board members independent, 1 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members10
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 $838,661 across 7 lines filed
VIII-1b Membership dues$25,675
VIII-1f All other contributions, gifts and grants$351,483
VIII-1h Total contributions, gifts and grants$377,158
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $458,194$458,194
VIII-3 Investment incomeRelated to mission $2,027$2,027
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,282$1,282
VIII-12 Total revenueRelated to mission $461,503$838,661
Part IX · Statement of functional expenses $659,900 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $7,465 · Management $99,185$106,650
IX-7 Other salaries and wagesPrograms $117,985 · Management $86,349$204,334
IX-8 Pension plan contributionsManagement $10,056$10,056
IX-9 Other employee benefitsPrograms $17,772 · Management $18,833$36,605
IX-10 Payroll taxesPrograms $9,557 · Management $14,806$24,363
IX-11g Other fees for servicesPrograms $14,338 · Management $16,075$30,413
IX-13 Office expensesManagement $1,222$1,222
IX-14 Information technologyManagement $5,391$5,391
IX-16 OccupancyPrograms $35,291 · Management $23,527$58,818
IX-17 TravelManagement $382$382
IX-19 Conferences, conventions and meetingsPrograms $9,815 · Management $4,978$14,793
IX-22 Depreciation, depletion and amortizationManagement $19,275$19,275
IX-23 InsuranceManagement $6,904$6,904
IX-24 Other expenses (24a–d)Programs $59,185 · Management $22,880$82,065
IX-24e All other expensesPrograms $30,116 · Management $28,513$58,629
IX-25 Total functional expensesPrograms $301,524 · Management $358,376 · Fundraising $0$659,900
Part X · Balance sheet $1,898,055 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $300$128
X-2 Savings and temporary cash investmentsStart of year $1,138,317$1,300,386
X-3 Pledges and grants receivableStart of year $25,534$80,421
X-10c Land, buildings and equipment, netStart of year $68,463$60,353
X-13 Program-related investmentsStart of year $266,423$266,812
X-15 Other assetsStart of year $10,319$189,955
X-16 Total assetsStart of year $1,509,356$1,898,055
X-17 Accounts payable and accrued expensesStart of year $26,801$40,835
X-19 Deferred revenueStart of year $15,475$42,966
X-25 Other liabilities$168,413
X-26 Total liabilitiesStart of year $42,276$252,214
X-32 Total net assets or fund balancesStart of year $1,467,080$1,645,841
X-33 Total liabilities and net assetsStart of year $1,509,356$1,898,055
Part XI · Reconciliation of net assets $1,645,841 net assets at year end
XI-1 Total revenue$838,661
XI-2 Total expenses$659,900
XI-3 Revenue less expenses$178,761
XI-4 Net assets at start of year$1,467,080
XI-10 Net assets at end of year$1,645,841

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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