Forjando Un Nuevo Comienzo Corp

Nonprofit profile at a glance

EIN
660592098
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Guaynabo, PR, USA
Phone
7877315480
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Service Organizations

Reported finances

Revenue
$1,090,906
Expenses
$1,190,098
Assets
$560,585
Liabilities
$54,109

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • MORAIMA OYOLA (EXECUTIVE DIRECTOR)
  • DENISE RIVERA (PRESIDENT)

Highest reported compensation

  • MORAIMA OYOLA (EXECUTIVE DIRECTOR): $89,462 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Forjando un Nuevo Comienzo, Corp.'s main mission is to improve the quality of life of people with social or economic constraints and or disadvantages. The most significant activities are: employment opportunities; motivational, leadership and self-improvement skills workshops; homework assistance; and cultural, educational and recreational activities.

What it reported doing in 2024

Housing - This project consists of three programs that offer viable options for public housing bona fide residents of the Public Housing Administration to overcome the obstacles that prevent them from having a better quality of life. The program provides opportunities for social mobility to economically disadvantaged families, services such as: employment opportunities, entrepreneurship and leadership workshops; homework assistance; recreational, cultural and educational activities.

Operating model

Revenue model
Grant-funded. 87% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 83
  • Accountability: 84
  • Sustainability: 25
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78.6%; rating input score 79
  • Program expense ratio: 72.1%; rating input score 72
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -9.1%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 0.47; rating input score 22; 22nd percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 43; 43rd percentile among comparable filings
  • Officer compensation ratio: 7.5%; rating input score 45; 45th percentile among comparable filings

Growth

  • Program expense growth: -0.6% per year; rating input score 0; 16th percentile among comparable filings
  • Revenue growth: 1.7% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: 11.5% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 78.6% of revenue deployed · 72.1% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $858K in reported program spending
  • Leadership: top reported pay $89K · 10 people listed
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 8 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 18/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 22/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 43/100.
  • Moderate — Sustainability: Officer compensation ratio scored 45/100.