Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2019.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
95 cents of each dollar spent went to programs.
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
4 people listed on the 990; $95K paid to officers and key staff.
Thomas King’s $95K as Secretary is at the 76th percentile of top reported officer pay among 1989 $100K–1M environment nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 2 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Thomas King | $94,612 | $95,345 | $25,875 | $73,163 | $84,000 |
| Malu Blazquez | — | — | $6,400 | — | — |
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
- Loans to or from officersSch L · Pt II1 listed
Programs and updates
Supports local solar and storage companies by advising on marketing, financing, and execution.
Questions for Borincana Foundation INC
Your first name shows with your question. Borincana Foundation INC answers here, for everyone.
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* Puerto Rico Energy Capital Access Program (PRECAP) underwent a comprehensive transformation in 2022, which included a change in management and the recruitment of new staff. This restructuring enabled the program to bring compliance and administrative work up to date and completely revamp its operations, resulting in an enhanced service…
SOLAR IT, The Solar Information Technology Workforce Development and Market Acceleration Program accomplished the following Completed Cohorts of the program with a total of 60 graduates. Completed 15 outreach activities Developed 11 outreach materials to promote the program Managed to maintain 50% employability among graduates of the…
GRUPO ASI is an independent provider of solar systems desigs, offering free solar analysis for small businesses in rural areas of Puerto Rico. The program was created in November 2022 by Borincana Foundation and is funded through a USDA grant.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $101K | $114K |
| Land, buildings, equipmentLn 10c | $12K | $9K |
| Total assetsLn 16 | $579K | $609K |
| LiabilitiesLn 26 | $352K | $319K |
| Net assetsLn 32 | $227K | $289K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $95K | $95K | ||
| Pay of disqualified personsLn 6 | $0 | |||
| Other salaries and wagesLn 7 | $311K | $303K | $9K | |
| Other employee benefitsLn 9 | $0 | |||
| Payroll taxesLn 10 | $27K | $23K | $4K | |
| Management feesLn 11a | $51K | $51K | ||
| Accounting feesLn 11c | $17K | $17K | ||
| Other fees for servicesLn 11g | $218K | $217K | $263 | $543 |
| Advertising and promotionLn 12 | $8K | $3K | $556 | $5K |
| Office expensesLn 13 | $18K | $18K | ||
| Information technologyLn 14 | $13K | $9K | $5K | |
| OccupancyLn 16 | $38K | $37K | $263 | |
| TravelLn 17 | $35K | $25K | $3K | $8K |
| InterestLn 20 | $5K | $5K | ||
| Depreciation, depletion and amortizationLn 22 | $3K | $3K | ||
| InsuranceLn 23 | $14K | $14K | ||
| Other expenses (24a–d)Ln 24 | $9K | $8K | $1K | $0 |
| All other expensesLn 24e | $2K | $139 | $783 | $1K |
| Total functional expensesLn 25 | $865K | $819K | $31K | $14K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest Viewing | $927K | $865K | $62K | $289K | 990 PDF |
| FY2023 | $812K | $669K | $143K | $227K | 990 PDF |
| FY2022 | $543K | $468K | $75K | $84K | 990 PDF |
| FY2021 | $278K | $276K | $3K | $9K | 990 PDF |
| FY2020 | $289K | $294K | −$4K | $6K | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $926,796 revenue, 12 lines filed
Part VI · Governance 4 of 4 board members independent, 3 to look at
Part VIII · Statement of revenue $926,796 across 9 lines filed
Part IX · Statement of functional expenses $864,606 across 18 lines filed
Part X · Balance sheet $608,633 assets, 12 lines filed
Part XI · Reconciliation of net assets $289,211 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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