Foundation for Puerto Rico Inc

“Jonathan borschow alexander borschow ceo director father & son”

“Prior to filing of form 990, ms.damaris ocasio, chief financial officer, will review a draft of the form. Comments or changes suggested will be applied in order for the entity to submit the form to the internal revenue service for filing.”

“Each director shall annually sign a statement which affirms such persons has received a copy of the conflicts of interest policy, has read and understands the policy and has agreed to comply with the policy. Duty to disclose- in connection with any actual or possible conflict of interest, an interested person (any member, director or officer who has a direct or indirect financial interest) must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees considering the proposed transaction or arrangement. An interested person may make a presentation at the board of directors or committee meeting. Determining whether a conflict of interest exists- after disclosure of the financial interest and all material facts and after any presentation by and discussion with the interested person, the interested person shall leave, the board of directors or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining directors or committee members shall decide if a conflict of interest exists. Procedures for addressing the conflict of interest- the chairman of the board of directors of chairperson of the committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the board of directors or committee shall determine whether the foundation can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the board of directors or committee shall determine by a majority vote of the disinterested directors or committee members whether the transaction or arrangements is in the foundations's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination, it shall make its decision as to whether to enter into a transaction or arrangement. Violation of the conflict of interest policy- if the board of directors or committee has a reasonable cause to believe a member, director or officer has reasonable cause to believe a member, director or officer has failed to disclose actual or possible conflicts of interest, it shall inform such member, director or officer of the basis for such belief and afford such member, director or officer an opportunity to explain the alleged failure to disclose. If, after hearing the member's director's of officer's response and after making further investigation as warranted by the circumstances, the board of directors or committee determined the member, director or officer has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.”

“No documents available to the public.”

“The main objective of the organization is to promote strategic philanthropy as catalyst to accelerate the economic, social, and sustainable development in puerto rico by commissioning highly focused research, offering expert counsel and conducting educational activities that will advance the philanthropic initiatives and programs to be supported by the organization.”

“Scalling up for innovation - supports and collaborates to build the capacity of non-profit organizations so they may innovate, become competitive, and take advantage of global opportunities.”

“Operations & support 42,979 3,815 0 human resources 15,045 1,335 0 bottom up destination re 30,624 2,718 0 smal business support 22,714 2,016 0 resiliency 600,317 53,290 0 total 711,679 63,174 0”