{"id":4456,"date":"2018-08-18T18:42:01","date_gmt":"2018-08-18T18:42:01","guid":{"rendered":"https:\/\/fcpr.org\/?page_id=4456"},"modified":"2024-08-30T16:12:26","modified_gmt":"2024-08-30T20:12:26","slug":"lo-que-hacemos","status":"publish","type":"page","link":"https:\/\/www.fcpr.org\/en\/lo-que-hacemos\/","title":{"rendered":"Philanthropic funds"},"content":{"rendered":"
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We make it easy for you to strategically connect with the causes you are passionate about.<\/h4>\n\n\n\n

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Through the Puerto Rico Community Foundation<\/strong> (FCPR), donors have contributed to the development of Puerto Rican communities. Individuals, families, corporations or foundations have found in the FCPR the ideal philanthropic ally, an entity that has helped them turn into reality the desire to support the causes they are passionate about through the establishment, custody and administration of philanthropic funds.<\/p>\n\n\n\n

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Establishment of philanthropic funds<\/h4>\n\n\n\n
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An individual or family member who wants to leave a legacy to the community, a socially responsible company or a foundation, can channel his or her philanthropic contribution through the FCPR. There are three ways to do this.<\/p>\n\n\n\n

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Socially responsible companies<\/strong><\/h5>\n\n\n\n

FCPR helps you with the strategic design of your corporate grant plans. We provide structure, transparency and follow-up for each grant. That way, the company can focus on its business, while the Foundation helps you execute your philanthropic plans.<\/p>\n\n\n\n

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Leaving a legacy<\/strong><\/h2>\n\n\n\n

Individuals and\/or families can establish a fund to perpetuate and celebrate the memory of a loved one, or celebrate family history and trajectory, leaving a legacy in the community.<\/p>\n\n\n\n

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Foundations inside and outside PR<\/strong><\/h2>\n\n\n\n

Foundations wishing to provide grants, scholarships, awards, community recognition and funding to nonprofit organizations in Puerto Rico can also count on the FCPR to execute their philanthropic plans. In this way, they are freed from the administrative functions involved in the implementation of a programmatic structure.  <\/p>\n\n\n\n

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The FCPR<\/strong> is governed under Code 1101 of the Treasury Department of the Commonwealth of Puerto Rico and under the Federal Internal Revenue Code 501c (3), which allows those who make contributions to receive the corresponding credits in local and federal income tax returns.<\/em><\/p>\n\n\n\n

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Types of funds and their objectives <\/b><\/h4>\n\n\n\n

Individuals, families, corporations and foundations wishing to invest in the community can establish: scholarship fund, endowment fund, awards and recognitions. The types of funds are: permanent, temporary and combined (see the following link for more information). other types of funds<\/a>).<\/p>\n\n\n\n

Permanent Fund<\/b><\/p>\n\n\n\n

The permanent fund is perpetual and the principal is not encroached upon, only its disbursement capacity is used. The fund is invested together with the The Foundation's Philanthropic Pooled Fund, <\/em>The permanent fund grows during a specific period of time, while it continues to provide donations, grants, scholarships, awards or recognitions. In this way, the permanent fund grows during a specific period, while continuing to provide donations, scholarships, awards or recognitions.<\/p>\n\n\n\n

Management cost: 1% of fund value per year <\/em><\/p>\n\n\n\n

Temporary Fund <\/b><\/p>\n\n\n\n

The temporary fund is not invested, it is granted in its entirety or at the donor's discretion.        <\/span><\/p>\n\n\n\n

Cost of administration: 10-15% of what is contributed to the fund <\/em><\/p>\n\n\n\n

Combined fund <\/b><\/p>\n\n\n\n

The combined fund has a permanent and a temporary portion, and allows for immediate grants, scholarships, awards and recognitions, while the permanent portion seeks the perpetuity of the fund.   <\/span><\/p>\n\n\n\n

Cost of administration: Combined <\/em><\/p>\n\n\n\n

All contributions made to the Puerto Rico Community Foundation may be deductible at 100 percent or up to 50 percent of the adjusted gross income for the taxable year in which the contribution or gift is made.<\/em><\/h6>\n\n\n\n
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I want to establish a fund, what do I do now? <\/b><\/h4>\n\n\n\n

FCPR offers the following services to help you achieve your philanthropic goal.<\/p>\n\n\n\n

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  • Consultancy to define the focus of the fund <\/span><\/li>\n\n\n\n
  • Collaboration in the drafting of guidelines for applying to the fund <\/span><\/li>\n\n\n\n
  • Dissemination of the call for applications in social networks and places related to the purpose of the fund.<\/li>\n\n\n\n
  • Guidance, as required, to potential beneficiaries of the fund <\/span><\/li>\n\n\n\n
  • Receipt of applications and initial scrutiny <\/span><\/li>\n\n\n\n
  • Convening of an evaluation committee, composed of experts on the subject and community participation. <\/span><\/li>\n\n\n\n
  • Presentation of donations, scholarships, prizes and awards <\/span><\/li>\n\n\n\n
  • Monitoring of the use of the money awarded <\/span><\/li>\n<\/ul>\n\n\n\n

    Types of assets you can use to implement your social investment plan<\/b><\/h4>\n\n\n\n

    In addition to making a cash gift, which is the traditional way, the philanthropically minded person may opt for other forms of investment; these are: securities, bequests, stocks (pre-sale), real estate, retirement plans, life insurance, private foundation memberships, tangible personal property. <\/span><\/p>\n\n\n\n

    Note: The Puerto Rico Community Foundation will evaluate the grant in question prior to acceptance.<\/i> <\/p>\n\n\n\n

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    Do you want to create a fund? Tell us about it! <\/b><\/h4>\n\n\n\n

    <\/b>Describe your goals in the following form with the following.<\/span><\/p>\n\n\n\n

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    • Why do you want to create a fund?<\/li>\n\n\n\n
    • Purpose of the fund?<\/li>\n\n\n\n
    • How do you expect the donation to be made, by grant, donation, award or otherwise?<\/li>\n<\/ul>\n\n\n\n
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