Give and receive in Puerto Rico
Fundación Comunitaria de Puerto Rico has allowed donors to contribute with the development of Puerto Rican communities. Individuals, families, corporations and foundations have found the ideal philanthropic partner in the FCPR, to facilitate their support to the causes that matter to them the most, through the establishment, custody and administration of funds.
Furthermore, FCPR’s community knowledge has enabled the institution to design programs that respond to community needs and opportunities. Its strategic plan promotes and strengthens equitable access to potable water, renewable energy, social housing, community economic development and education, among other areas of interest.
ESTABLISH A FUND
An individual, a socially responsible company or a foundation that wants to leave a legacy to the community can make a philanthropic contribution through the FCPR.
LEAVING A LEGACY
Individuals and families can leave a legacy to their communities by establishing funds that perpetuate and celebrate the memory of loved ones, and richful family history.
SOCIALLY RESPONSIBLE COMPANIES
The FCPR helps socially responsible companies design their strategic philanthropic contributions or corporate scholarships. We provide a transparent structure that monitors each grant and scholarship. In this way, your company can focus on business while the FCPR focuses on the implementation of your philanthropic plans.
FOUNDATIONS INSIDE AND OUTSIDE PUERTO RICO
Foundations that seek to provide grants, scholarships and awards, and to provide financial support to nonprofit organizations can count on the FCPR to implement their philanthropic plans. Foundations can be freed up from the administrative burdens of establishing programmatic structures.
The Fundación Comunitaria de Puerto Rico (FCPR) is governed by Section 1101 of the Puerto Rico Internal Revenue Code and section 501(c)(3) of the U.S. Internal Revenue Code, which allows donors to receive local and federal tax credits.
TYPE OF FUNDS AND OBJECTIVES
Individuals, families, companies, and foundations that wish to invest in the community can establish a: scholarship fund, grants fund, award, and recognition. The types of funds are permanent, temporary and combined.
All contributions made to the Fundación Comunitaria de Puerto Rico are 100 percent deductible up to 50 percent of adjusted gross income.
The permanent fund is perpetual. The principal of the fund is invested and only used for its disbursement capacity. This fund is invested together with the Common Philanthropic Foundation Fund with the purpose of enhancing your investment’s performance and disbursement capacity. In this way, the permanent fund continues to grow over a Specified period of time while continuing to provide grants, scholarships, awards, and recognitions.
Administration cost: 1% annually of the fund’s value
The temporary fund is not invested. It is granted in its totality or as the donor stipulates.
Administration cost: 10% – 15% of the contributions to the fund
The combined fund is a hybrid consisting of a permanent and a temporary sub-fund. The temporary sub-fund has the capacity to fund grants, scholarships, awards, and recognitions immediately, while the permanent sub-fund ensures the fund’s perpetuity.
Administration cost: Combined
I WANT TO ESTABLISH A FUND, NOW WHAT?
FCPR offers you the following services to help you reach your philanthropic objectives.
Philanthropic advisory to define the purpose of the fund
Assistance with funds guidelines on how to apply for funding
Dissemination of general fund’s availability and how to apply
Advise and educate, as required potential beneficiaries of the fund
Receive applications and initial screening
Convening of the evaluation committee to guarantee an objective process
Provide grants, scholarships, awards, and recognitions
Recurring monitoring process of the awarded funds
TYPE OF ASSETS YOU CAN USE TO EXECUTE YOUR SOCIAL INVESTMENT PLAN
In addition to cash contributions, which is the traditional type of donation, an individual with philanthropic aspirations can choose other types of investments: securities, stocks, real estate, retirement plans, life insurances, tangible personal property, bequests and private foundation mergers.
Note Fundación Comunitaria will evaluate the donation prior to acceptance.