Overview
What is Invest Puerto Rico Inc?
Invest Puerto Rico Inc is a San Juan, PR-based nonprofit organization dedicated to marketing Puerto Rico as a competitive investment destination, aiming to attract new businesses and capital investments to the island. Under the leadership of Astrid Navarro, the organization's mission is to promote Puerto Rico's potential as a lucrative jurisdiction for investments.
Official website here: www.investpr.org/
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Invest Puerto Rico Inc has received a two-star rating from Charity Navigator, indicating a need for improvement in its accountability and finance practices. The overall score stands at 62%, suggesting that while the organization performs well in certain areas, there are significant gaps in governance, particularly concerning the independence of its board members.
One notable strength is its strong financial management, as evidenced by a high program expense ratio of 85.55%, indicating that a substantial portion of its funds is devoted to its programs. Additionally, the organization has solid policies in place regarding conflict of interest and document retention, which are critical for maintaining transparency and trust.
However, the organization faces serious limitations, particularly with its lack of independent board members and the absence of a whistleblower policy. Also, the missing tax form on the nonprofit's website raises concerns regarding transparency. These issues collectively contribute to the low accountability score and suggest a need for the organization to enhance its governance structures and policies to build greater public confidence.
This AI summary has been generated from information found on Charity Navigator.
Is Invest Puerto Rico Inc legitimate?
Invest Puerto Rico Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Invest Puerto Rico Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,292,417
For more financial information, click here
Official website here: www.investpr.org/
What is the mission statement of Invest Puerto Rico Inc?
Invest Puerto Rico Inc is dedicated to marketing Puerto Rico as an attractive destination for business investment. The organization's primary goal is to draw new businesses and capital investments to the island. By promoting Puerto Rico as a competitive investment jurisdiction, Invest Puerto Rico aims to stimulate economic growth and development. The organization's efforts focus on showcasing the island's advantages to potential investors, with the ultimate objective of increasing investment opportunities and creating jobs. Additionally, Invest Puerto Rico may offer various resources and incentives to businesses considering making the move to Puerto Rico.
Official website here: www.investpr.org/
Who is the CEO of Invest Puerto Rico Inc?
Astrid Navarro is the Chairman of Invest Puerto Rico Inc.
Official website here: www.investpr.org/
What is the revenue of Invest Puerto Rico Inc?
Invest Puerto Rico Inc's revenue in 2022 was $16,374,498.
Official website here: www.investpr.org/
Who are the executives of Invest Puerto Rico Inc and what are their salaries?
The average compensation at Invest Puerto Rico Inc during 2022 was $458,483. There are 5 employees at Invest Puerto Rico Inc.
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Official website here: www.investpr.org/
Where can I find the form 990 for Invest Puerto Rico Inc?
Invest Puerto Rico Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.investpr.org/
Learn more at the official website: www.investpr.org/
Mission Statement of Invest Puerto Rico Inc
Invest Puerto Rico Inc, a mission-driven organization, strives to position Puerto Rico as a competitive investment jurisdiction, attracting new businesses and capital investments to the island. The organization, led by Astrid Navarro, is dedicated to promoting Puerto Rico as an attractive destination for investors. The primary focus of Invest Puerto Rico is to boost the economy of the island by bringing in fresh business opportunities and financial investments. By doing so, the organization aims to create a thriving business environment that generates jobs and economic growth for Puerto Rican residents. Through its efforts, Invest Puerto Rico contributes significantly to Puerto Rico's economic development, ultimately improving the overall well-being of the community.
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Impact
October, 2024
Invest Puerto Rico Inc plays a pivotal role in enhancing the economic landscape of the island by positioning Puerto Rico as an attractive destination for business and capital investment. By actively promoting the region's competitive advantages, the organization fosters an environment conducive to new ventures and job creation.
Under the leadership of Astrid Navarro and based in San Juan, Invest Puerto Rico focuses on showcasing the unique opportunities available in the territory, effectively drawing interest from investors and businesses looking to expand or relocate. This strategic approach not only bolsters economic growth but also aids in community improvement, ultimately driving sustainable development across the island. Through targeted outreach and collaboration, Invest Puerto Rico is instrumental in shaping a robust investment climate that benefits both local communities and the broader economy.
This information is meant to be a general summary of Invest Puerto Rico Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $9,160
- Gross Receipts: $16,374,498
Assets and Liabilities:
- Total Assets: $9,043,861
- Total Liabilities: $1,111,954
- Net Assets: $7,931,907
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Organization Details
Founding Year
2017
Phone
(787) 649-5713Principal Officer
Astrid Navarro
Main Address
200 CONVENTION BLVD THE HUB STE 301, SAN JUAN, PR, 00907
Website
www.investpr.org/NTEE Category
Code: S30 - Community improvement
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