Fundacion Mayaguez 2010 Inc

Nonprofit profile at a glance

EIN
660760071
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Mayaguez, PR, USA
Phone
7878322010
Rating
88
Verdict
STRONG
Rating confidence
Standard
Sector
Youth Development Programs

Reported finances

Revenue
$392,550
Expenses
$435,824
Assets
$761,569
Liabilities
$1,456

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Felipe Perez (President)

Highest reported compensation

  • Juan Benazard (Director): $30,000 total reported compensation

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

Overview

Mission

To promote and organize sporting events that would maintain a high level of sports enthusiasm in the western Puerto Rico region, and promote sport activities at a local and international level.

What it reported doing in 2024

State Government Grants provided by the Puerto Rico Government for

Operating model

Revenue model
Grant-funded. 64% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 100
  • Accountability: 95
  • Sustainability: 36
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.1%; rating input score 85
  • Program expense ratio: 75.6%; rating input score 76
  • Fundraising efficiency: $92.77 raised per $1 spent on fundraising; rating input score 85; 85th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -11%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 1.75; rating input score 56; 56th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 54; 54th percentile among comparable filings
  • Officer compensation ratio: 6.9%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 24.7% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: 0.1% per year; rating input score 100; 24th percentile among comparable filings
  • Asset growth: -14.3% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 85.1% of revenue deployed · 75.6% of spending went to programs
  • Governance: 9 of 9 board members independent · 7 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $334K in reported program spending
  • Leadership: top reported pay $30K · 5 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Sustainability: Operating margin scored 21/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 56/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.
  • Review — Sustainability: Liabilities to assets ratio scored 54/100.