Fundacion Cortes Inc

Nonprofit profile at a glance

EIN
660804845
IRS 990 coverage
2020–2025
Forms available
Form 990 2025
Location
San Juan, PR, USA
Phone
7877547040
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Philanthropy, Charity, Voluntarism Promotion

Reported finances

Revenue
$741,914
Expenses
$734,172
Assets
$148,685
Liabilities
$141,957

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • IGNACIO CORTES-GELPI (PRESIDENT & TREASURER)

People named in this filing

  • IGNACIO CORTES-GELPI (PRESIDENT & TREASURER)
  • ELAINE SHEHAB (SECRETARY)
  • EVA DIAZ ACEVEDO (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Promote educational and artistic activities

What it reported doing in 2025

Promote educational and artistic activities for the general public and to promote Caribbean art and culture through education. All the Organizations activities are aimed at raising funds to enable it to accomplish its educational goals. In addition the major educational programs and activities conducted by the Organization are: . Educa Cortes - provides educational programs leading to increased appreciation of art to complement academic standards and expectations on all school subjects and or requested themes, and to provide healing through art activities. This is accomplished through educational workshops, both for adults and school age youth. . Afternoons of Art and Music - programs for the development of appreciation for varied expressions of Caribbean music and instruments. . Cortes Summer Art Workshops for Youth-mosaic, drawing, engraving, painting, and digital filmmaking summer workshops for 8-17 year old students. . Educa Cortes: The Art of Wellness and Mental Health-through this new programmatic element, the Organization integrates many forms of arts to promote the values that it believes must be prioritized in Puerto Rico; education, culture, passion, sense of responsibility, self-sufficiency, dignity, identity and social justice.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 50
  • Transparency & Controls: 90
  • Accountability: 57
  • Sustainability: 29
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 50.7%; rating input score 51
  • Program expense ratio: 51.2%; rating input score 51
  • Fundraising efficiency: $11.24 raised per $1 spent on fundraising; rating input score 39; 39th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 66.7%; rating input score 67; 17th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 0.2; rating input score 11; 11th percentile among comparable filings
  • Liabilities to assets ratio: 0.95; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: 12.2% per year; rating input score 100; 64th percentile among comparable filings
  • Revenue growth: 6.8% per year; rating input score 100; 47th percentile among comparable filings
  • Asset growth: 10.5% per year; rating input score 100; 57th percentile among comparable filings

Details

  • Where the money goes: 50.7% of revenue deployed · 51.2% of spending went to programs
  • Governance: 4 of 6 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $376K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 6 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Financial Efficiency: Mission deployment rate scored 51/100.
  • Review — Financial Efficiency: Program expense ratio scored 51/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 39/100.
  • Moderate — Sustainability: Operating margin scored 34/100.
  • High — Sustainability: Total-asset coverage ratio scored 11/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.