The Luis a Ferre Foundation Inc
Nonprofit profile at a glance
- EIN
- 660235625
- IRS 990 coverage
- 2020–2024
- Forms available
- Form 990 2024
- Location
- San Juan, PR, USA
- Phone
- 7876418070
- Rating
- 64
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Art Museums
Reported finances
- Revenue
- $16,200,639
- Expenses
- $6,861,399
- Assets
- $52,707,348
- Liabilities
- $4,383,825
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
16 people listed
Executive titles in this filing
- MARIA LUISA FERRE RANGEL (PRESIDENT &)
Highest reported compensation
- RUBI RODRIGUEZ BUSTILLO (DEPUTY DIREC): $225,857 total reported compensation
- MARCOS MONTERO (ASSOCIATE DE): $145,122 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The principal purpose of the luis a. Ferre foundation, inc. (laaf) is to operate, maintain, conserve, and exhibit its collection of art at the museo de arte de ponce (map), a museum in puerto rico accredited by the american alliance of museums. Laff owns one of the finest and most important collections of european art in the western hemisphere. Museo de arte de ponce connects the community with the richness of the western art and its makers, from the fourteenth century to the present. It invites discovery, stimulates curiosity and fosters dialogue. As part of its objectives, it seeks to promote appreciation of art, offers educational and recreational resources, and establishes ties with disadvantaged communities in puerto rico.
What it reported doing in 2024
See schedule o
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- 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 most voting board members are independent. 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: 26
- Transparency & Controls: 84
- Accountability: 94
- Sustainability: 85
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 18.3%; rating input score 18
- Program expense ratio: 36.7%; rating input score 37
- Fundraising efficiency: $9.55 raised per $1 spent on fundraising; rating input score 37; 37th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Missing
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 6 of 7 controls in place; rating input score 86
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 57.6%; rating input score 95; 95th percentile among comparable filings
- Total-asset coverage ratio: 7.68; rating input score 89; 89th percentile among comparable filings
- Liabilities to assets ratio: 0.08; rating input score 76; 76th percentile among comparable filings
- Officer compensation ratio: 5.4%; rating input score 47; 47th percentile among comparable filings
Growth
- Program expense growth: 8.8% per year; rating input score 100; 65th percentile among comparable filings
- Revenue growth: 32% per year; rating input score 100; 97th percentile among comparable filings
- Asset growth: 2.9% per year; rating input score 100; 22nd percentile among comparable filings
Details
- Where the money goes: 18.3% of revenue deployed · 36.7% of spending went to programs
- Governance: 12 of 12 board members independent · 6 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $2.5M in reported program spending
- Leadership: top reported pay $226K · 16 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $1.6M reported
- Consistency: 32 of 32 current checks pass
- Schedules: 7 filed schedules · includes major donors and executive pay
- Filing history: 5 filing years from 2020 to 2024
- Contacts: How to reach this organization
- Money network: 4 filed money-flow records
- 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.
- High — Financial Efficiency: Mission deployment rate scored 18/100.
- Moderate — Financial Efficiency: Program expense ratio scored 37/100.
- Moderate — Financial Efficiency: Fundraising efficiency scored 37/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- Moderate — Sustainability: Officer compensation ratio scored 47/100.