Civic Intelligence

Invest Puerto Rico Inc

EIN 66-0891535 • 501(c)3 • San Juan, PR

Profile

The mission of the organization is to promote puerto rico as a competitive investment jurisdiction to attract new business and capital investment to the island.

200 Convention Blvd The Hub Ste 301San Juan, PR 00907

www.investpr.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

79th percentile

0.57x

Higher debt load relative to assets than 79% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

64th percentile

0.39x

Higher debt load relative to revenue than 64% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

51st percentile

4.5%

Higher net margin than 51% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

15th percentile

$0

Higher top officer pay than 15% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

6th percentile

-17%

Faster asset growth than 6% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

89th percentile

77%

Faster revenue growth than 89% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets79th percentile

Assets

Down

$9,922,679

Down $2,100,585 (-17%) from 2023

Liabilities

Down

$5,625,102

Down $2,746,813 (-33%) from 2023

Net Assets

Up

$4,297,577

Up $646,228 (+18%) from 2023

Operations
Liabilities / Revenue64th percentileNet Margin51st percentile

Revenue

Up

$14,293,804

Up $6,216,267 (+77%) from 2023

Expenses

Up

$13,647,576

Up $5,332,025 (+64%) from 2023

Net Income

Up

$646,228

Up $884,242 (+372%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth6th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2021: $6,065,059Liabilities 2021: $831,531Net Assets 2021: $5,233,5282021Assets 2022: $9,043,861Liabilities 2022: $1,111,954Net Assets 2022: $7,931,9072022Assets 2023: $12,023,264Liabilities 2023: $8,371,915Net Assets 2023: $3,651,3492023Assets 2024: $9,922,679Liabilities 2024: $5,625,102Net Assets 2024: $4,297,5772024

Highlighted filing

2024

Assets$9,922,679
Liabilities$5,625,102
Net Assets$4,297,577
Open 2024 Filing

Operations Trend

Revenue Growth89th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$20M$15M$10M$5.0M$0-$5.0MRevenue 2021: $5,251,268Expenses 2021: $4,228,945Net Income 2021: $1,022,3232021Revenue 2022: $16,374,498Expenses 2022: $13,676,119Net Income 2022: $2,698,3792022Revenue 2023: $8,077,537Expenses 2023: $8,315,551Net Income 2023: -$238,0142023Revenue 2024: $14,293,804Expenses 2024: $13,647,576Net Income 2024: $646,2282024

Highlighted filing

2024

Revenue$14,293,804
Expenses$13,647,576
Net Income$646,228
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,922,679
Liabilities
$5,625,102
Net assets
$4,297,577
Revenue
$14,293,804
Expenses
$13,647,576
Net income
$646,228
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$9.92$5.63$4.30$14.3$13.6$0.65
2023Detailed filing. Detailed filing data is available for this year.$12.0$8.37$3.65$8.08$8.32$0.24
2022Detailed filing. Detailed filing data is available for this year.$9.04$1.11$7.93$16.4$13.7$2.70
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.07$0.83$5.23$5.25$4.23$1.02
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 13, 2025
Return Version
2023v6.0
Gross Receipts
$14,293,804
Mission and Program Overview

Mission

The mission of the organization is to promote puerto rico as a competitive investment jurisdiction to attract new business and capital investment to the island.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$10,513,077$8,530,809▼ $1,982,268
Land, Buildings, and Equipment, Net$1,329,652$1,103,529▼ $226,123
Accounts Receivable$99,117$205,350▲ $106,233
Prepaid Expenses and Deferred Charges$81,418$82,991▲ $1,573
Total Assets$12,023,264$9,922,679▼ $2,100,585
Liabilities
Deferred Revenue$6,936,833$3,280,502▼ $3,656,331
Accounts Payable and Accrued Expenses$821,880$1,797,511▲ $975,631
Other Liabilities$613,202$547,089▼ $66,113
Total Liabilities$8,371,915$5,625,102▼ $2,746,813
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,651,349$4,297,577▲ $646,228
Total Net Assets Fund Balance$3,651,349$4,297,577▲ $646,228
Total Liabilities and Net Assets / Fund Balance$12,023,264$9,922,679▼ $2,100,585

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$545,291$391,592$936,883
Leasehold Improvements$527,445$269,538$796,983
Equipment$30,793$35,634$66,427
Compensation and Service Providers
Top Officer Pay15th percentile

Board Members and Trustees

NameTitle
Manuel CidreChairman
Christian GonzalezVice Chairma
Alberto ToroMember
Federico SanchezMember
Humberto MercaderMember
Jennifer StoripanMember
Kathryn WyldeMember
Omar MarreroMember
Brenda MarreroSecretary
James R CollinsTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Development Counsellors InternationaMedia215 PARK AVE SOUTH 14TH FLOOR, New York, NY 10003$3,667,608
Piro INCMedia244 FIFTH AVENUE SUITE 2144, New York, NY 10001$1,508,102
New Lab LLCConsulting19 MORRIS AVENUE SUITE 2144, Brooklyn, NY 11205$1,063,875
Hickey Global Economic DevelopmentConsulting125 PARK AVENUE 25TH FLOOR, New York, NY 10017$221,723
Oco Consulting LLCSite Selectors524 BROADWAY 11TH FLOOR, New York, NY 10012$183,613
Revenue and Support

Revenue Composition

Contributions and Grants
$14,130,244
Program Service Revenue
$0
Investment Income
$163,560
Other Revenue
$0
Change in Net Assets
$646,228

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,293,804
Total Revenue per Audited Statements
$14,293,804
Total Revenue per Form 990
$14,293,804
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$11,346,910
Salaries, Compensation, and Employee Benefits$2,300,666
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising$6,880,092--$6,880,092
Other Salaries and Wages$1,980,656$105,838-$2,086,494
Fees for Services Other$128,888$493,557-$622,445
Travel$254,388$50,656-$305,044
Depreciation Depletion-$226,122-$226,122
Insurance$13,902$165,572-$179,474
Payroll Taxes$50,777$117,552-$168,329
Fees for Services Accounting-$110,008-$110,008
All Other Expenses$11,544$95,598-$107,142
Other Expenses$80,083$66,791-$66,791
Pension Plan Contributions$9,783$36,060-$45,843
Office Expenses-$45,582-$45,582
Fees for Services Legal-$36,110-$36,110
Interest$35,044$435-$35,479
Total Functional Expenses$11,845,170$1,802,406$0$13,647,576

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$13,647,576
Total Expenses per Audited Statements$13,647,576
Total Expenses per Form 990$13,647,576
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$547,089
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI

“The return is prepared by rsm puerto rico (external auditors and tax advisors) and the information reported in the return is provided by management of invest puerto rico inc. During the preparation of the return, rsm puerto rico and management are in constant communication sharing and confirming the information of the return. The return is provided to the organization's management for final review prior to filing when the return is finalized.”

Form 990, Page 6, Part VI, Line 7A

“The company contracts an independent compensation consultant to help hire and determine the compensation of the officers and key employees of the organization. The organization also uses compensation surveys of the compensation data of similar organizations. The board approves the compensation for the key employees and officers and in some instances a written employment contract is signed.”

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 12C

“At the moment of hiring the employee, the employee signs a document certifying that they received the conflict of interest policy. If any of the policy's standards are violated by any employee, the organization takes the corresponding disciplinary action, which may include immediate dismissal of the employee”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Invest Puerto Rico Inc
EIN
66-0891535
Phone
7876495713
Address
200 CONVENTION BLVD THE HUB STE 301, SAN JUAN, PR 00907

Signing Officer

Name
Manuel Cidre
Title
Chairman
Phone
7876495713
Signed
2025-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Manuel Cidre
Formed
2017
Voting Board Members
11
Independent Board Members
0
Employees
20

Preparer

Firm
Rsm Puerto Rico
Address
PO BOX 10528, SAN JUAN, PR 00922-0528
Preparer
Rafael De Rojas Sanchez
Phone
7877516164
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“.”

Raw XML AppendixShowing 400 of 435 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0THE MISSION OF THE ORGANIZATION IS TO PROMOTE PUERTO RICO AS A COMPETITIVE INVESTMENT JURISDICTION TO ATTRACT NEW BUSINESS AND CAPITAL INVESTMENT TO THE ISLAND.
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IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherExpensesGrp/Desc0EVENTS & PROMOTIONS
IRS990/OtherExpensesGrp/Desc1OTHER EXPENSES
IRS990/OtherExpensesGrp/Desc2DUES & SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc3REPAIRS & MAINTENANCE
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt217861
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IRS990/OtherExpensesGrp/TotalAmt297944
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IRS990/ProgSrvcAccomActy3Grp/Desc0SEE SCHEDULE O
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IRS990/ReportOtherLiabilitiesInd0true
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt08062964
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt05179088
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt014573
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt09160
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt07180
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0194473
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt02110
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt065000
IRS990ScheduleA/OtherIncome170Grp/TotalAmt067110
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt014130244
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt08062964
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt016363228
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt05179088
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt043735524
IRS990ScheduleA/TotalSupportAmt043997107
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IRS990ScheduleD/EquipmentGrp/BookValueAmt030793
IRS990ScheduleD/EquipmentGrp/DepreciationAmt035634
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt066427
IRS990ScheduleD/ExpensesSubtotalAmt013647576
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0527445
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0269538
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0796983
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0545291
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0391592
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0936883
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0547089
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LEASE LIABILITY
IRS990ScheduleD/RevenueSubtotalAmt014293804
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01103529
IRS990ScheduleD/TotalExpensesPerForm990Amt013647576
IRS990ScheduleD/TotalLiabilityAmt0547089
IRS990ScheduleD/TotalRevenuePerForm990Amt014293804
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IRS990/ScheduleJRequiredInd0false
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE RETURN IS PREPARED BY RSM PUERTO RICO (EXTERNAL AUDITORS AND TAX ADVISORS) AND THE INFORMATION REPORTED IN THE RETURN IS PROVIDED BY MANAGEMENT OF INVEST PUERTO RICO INC. DURING THE PREPARATION OF THE RETURN, RSM PUERTO RICO AND MANAGEMENT ARE IN CONSTANT COMMUNICATION SHARING AND CONFIRMING THE INFORMATION OF THE RETURN. THE RETURN IS PROVIDED TO THE ORGANIZATION'S MANAGEMENT FOR FINAL REVIEW PRIOR TO FILING WHEN THE RETURN IS FINALIZED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE COMPANY CONTRACTS AN INDEPENDENT COMPENSATION CONSULTANT TO HELP HIRE AND DETERMINE THE COMPENSATION OF THE OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION. THE ORGANIZATION ALSO USES COMPENSATION SURVEYS OF THE COMPENSATION DATA OF SIMILAR ORGANIZATIONS. THE BOARD APPROVES THE COMPENSATION FOR THE KEY EMPLOYEES AND OFFICERS AND IN SOME INSTANCES A WRITTEN EMPLOYMENT CONTRACT IS SIGNED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AT THE MOMENT OF HIRING THE EMPLOYEE, THE EMPLOYEE SIGNS A DOCUMENT CERTIFYING THAT THEY RECEIVED THE CONFLICT OF INTEREST POLICY. IF ANY OF THE POLICY'S STANDARDS ARE VIOLATED BY ANY EMPLOYEE, THE ORGANIZATION TAKES THE CORRESPONDING DISCIPLINARY ACTION, WHICH MAY INCLUDE IMMEDIATE DISMISSAL OF THE EMPLOYEE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt011845170
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IRS990/TotalLiabilitiesGrp/EOYAmt05625102
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IRS990/TotalOtherProgSrvcExpenseAmt011845170
IRS990/TotalProgramServiceExpensesAmt011845170
IRS990/TotalRevenueGrp/ExclusionAmt0163560
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt014293804
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt012023264
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09922679
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IRS990/TravelGrp/ProgramServicesAmt0254388
IRS990/TravelGrp/TotalAmt0305044
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0200 CONVENTION BLVD THE HUB STE 301
IRS990/USAddress/CityNm0SAN JUAN

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