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Nonprofit · EIN 66-0904023

BORINCANA FOUNDATION INC

Tax-exempt · SAN JUAN, PR 00901

Financials

$812K$669K2023$927K$865K2024
Revenue Expenses · by fiscal year end
Financials of BORINCANA FOUNDATION INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$926,796$864,606$62,190$608,633$319,422$289,211
December 31, 2023990$811,531$668,855$142,676$579,026$352,007$227,019
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$926,796
of which government grants
$859,229
Program service revenue
$0
Investment income
$0
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$94,612
Other salaries and wages
$311,441
Salaries, compensation and benefits (total)
$432,824
Professional fundraising fees
$0
Accounting fees
$17,000
Occupancy
$37,751
Travel
$34,935
Depreciation
$2,896
Program services (functional)
$819,361
Management and general (functional)
$31,417
Fundraising (functional)
$13,828

Balance sheet and other

Total assets, start of year
$579,026
Total assets, end of year
$608,633
Total liabilities, end of year
$319,422
Net assets, end of year
$289,211
Land, buildings and equipment
$8,688
Net assets without donor restrictions
$289,211
Gross receipts
$926,796
Employees
10
Volunteers
0
Year formed
2018
State of legal domicile
PR

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
THOMAS KINGSECRETARY
Trustee or director, Key employee
4$94,612
ALEJANDRO URIARTEPRESIDENT
Trustee or director, Former
1$0
XAIRA FERRARADIRECTOR
Trustee or director
1$0
GABRIEL PEREZ SEPULVEDAPRESIDENT
Trustee or director
1$0
990 for the year ended December 31, 2023: 4 people
NameTitleHours / weekCompensation
THOMAS KINGSECRETARY
Trustee or director, Key employee
4$95,345
ALEJANDRO URIARTEPRESIDENT
Trustee or director
1$0
XAIRA FERRARADIRECTOR
Trustee or director
1$0
GABRIEL PEREZ SEPULVEDADIRECTOR
Trustee or director
1$0

Address and contacts

Address (IRS master file)
151 CALLE SAN FRANCISCO STE 200, SAN JUAN, PR 00901-1660
Principal officer (990 for 2024)
THOMAS KING, 151 CALLE SAN FRANCISCO SUITE 200, SAN JUAN, PR 00901
Signed the 990
ERIC PICA, CONTROL
Phone
(914) 552-7220
Return prepared by
JUAN A VAZQUEZ ALDEA CPA

Mission

The Borincana Foundation supplies financial education, technical assistance, workforce training, and market facilitation support to aid in the reduction of poverty in Puerto Rico through energy transition and energy justice.

990 for the year ended December 31, 2024

Program accomplishments

  • * 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 for the community. As a result of these improvements, the PRECAP team was able to deliver high-quality assistance to program participants both during and after graduation. PRECAP successfully graduated 12 renewable energy projects and received 42 applications in 2022. As part of its post-graduation support, PRECAP provided valuable assistance to the ABEYNO COOP project, which led to the project receiving the prestigious Made in America Prize. Another graduate,the Sunrise Solar Farm project, is now participating in the DOE Energizing Rural Communities competition. Looking ahead to 2023, the program is committed to fostering the growth of additional renewable energy projects and expanding its positive influence and presence in the Puerto Rico energy ecosystem.
    Expenses $283,008 · revenue $293,243
  • 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 program Held 2 graduation events and networking venues- Completed and published a full season of the Good Morning with Energy Podcast- Four additional members were incorporated into the work team
    Expenses $265,822 · revenue $288,698
  • 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.
    Expenses $127,750 · revenue $139,292
  • The REAP Program Rural Energy for America Program is an initiative of the United States Department of Agriculture USDA that offers grants and loan guarantees to help small rural businesses and farmers carry out renewable energy and energy efficiency projects. Through REAP, participants can obtain funding to cover up to 50% of eligible costs for installing solar systems, energy storage, or other clean technologies, with the goal of reducing operational costs, promoting sustainability, and strengthening the resilience of rural communities. At Fundación Borincana, we were approved in November 2024 under the REAP TAG program to provide technical assistance to small rural businesses and farmers who wish to apply to REAP.
    Expenses $136,986 · revenue $134,620
  • The Solar Access Program of the U.S. Department of Energy DOE sought to strengthen energy resilience in Puerto Rico by installing solar systems with batteries in homes located in last-mile communities and in low-income households. In February 2024, Fundación Borincana was selected as one of the 16 Solar Ambassador organizations in the program, with the responsibility of guiding and assisting eligible residents in the municipalities of Fajardo and Río Grande, facilitating their access to safe, reliable, and zero-upfront-cost renewable energy. Fundación Borincana's participation lasted until February 2025, and the program was terminated by the federal government in July 2025.
    Expenses $5,795 · revenue $11,150

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
66-0904023
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
2019
Accounting year ends
December
Files
Form 990 or 990-EZ
Category (NTEE)
Environment (C35)
Assets (IRS master file)
$608,633
Income (IRS master file)
$926,796

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$926,796$864,606$608,633XML
990December 2023$811,531$668,855$579,026XML
990December 2022$543,401$467,956$448,140IRS
990December 2021–––IRS
990December 2020–––IRS
990-EZDecember 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 66-0904023).

Questions about BORINCANA FOUNDATION INC

What is the EIN of BORINCANA FOUNDATION INC?
The employer identification number (EIN) of BORINCANA FOUNDATION INC is 66-0904023.
Is BORINCANA FOUNDATION INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2019.
Are donations to BORINCANA FOUNDATION INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does BORINCANA FOUNDATION INC file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of BORINCANA FOUNDATION INC due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did BORINCANA FOUNDATION INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of BORINCANA FOUNDATION INC?
The 990 for the year ended December 31, 2024 names THOMAS KING.
Who are the officers and directors of BORINCANA FOUNDATION INC?
The 990 for the year ended December 31, 2024 lists 4 people; 1 received compensation from the organization, the highest $94,612 (THOMAS KING, SECRETARY).
How much revenue does BORINCANA FOUNDATION INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $926,796, expenses of $864,606 and total assets of $608,633 at year end.

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