Borincana Foundation Inc
Public records show a registered, tax-exempt organization in good standing.
Points to look into
- It reported loans to or from officers, directors or other insiders.
These come from the organization's own tax return. There may be a good explanation; ask the charity.
What it says it does
The Borincana Foundation supplies financial education, technical assistance, workforce training, and market facilitation support to aid in the reduction of poverty in Puerto Rico through energy transition and energy justice.
- Income
- $926,796
- Spending
- $864,606
- Spent on programs
- 95%
- Reserves
- 3.9 months of spending
- Largest source of income
- government grants, 93%
- Employees
- 10
- Volunteers
- 0
- Highest pay
- $94,612, secretary
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Good: 70 out of 100. Higher than 34% of charities in its peer group (environment, $250k to $1m).
Reserves
20 of 35Spendable reserves would cover 3.9 months of spending.
Debt
5 of 20It owes 52% of what it owns.
Living within its means
15 of 15Income exceeded spending by 7% of income.
Income trend
15 of 15Income rose 14% on the year before.
Spending floor
15 of 1595% of spending went to programs and raising each dollar of donations cost 1 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Fair: 63 out of 100. Higher than 29% of charities in its peer group (environment, $250k to $1m).
Independent board
18 of 254 of 4 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
0 of 8Reports no written whistleblower policy.
Record keeping policy
0 of 7Reports no written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
0 of 5Reports no independent review process for its chief executive's pay.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
0 of 10Reports at least one of: diversion of assets, excess benefits, loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (5)
- $283,008 spent. * Puerto Rico Energy Capital Access Program (PRECAP) underwent a comprehensive transformation in 2022, which included a change in management and the recruitment of new staff. This restructuring enabled the program to bring compliance and administrative work up to date and completely revamp its operations, resulting in an enhanced service for the community. As a result of these improvements, the PRECAP team was able to deliver high-quality assistance to program participants both during and after graduation. PRECAP successfully graduated 12 renewable energy projects and received 42 applications in 2022. As part of its post-graduation support, PRECAP provided valuable assistance to the ABEYNO COOP project, which led to the project receiving the prestigious Made in America Prize. Another graduate,the Sunrise Solar Farm project, is now participating in the DOE Energizing Rural Communities competition. Looking ahead to 2023, the program is committed to fostering the growth of additional renewable energy projects and expanding its positive influence and presence in the Puerto Rico energy ecosystem.
- $265,822 spent. SOLAR IT, The Solar Information Technology Workforce Development and Market Acceleration Program accomplished the following Completed Cohorts of the program with a total of 60 graduates. Completed 15 outreach activities Developed 11 outreach materials to promote the program Managed to maintain 50% employability among graduates of the program Held 2 graduation events and networking venues- Completed and published a full season of the Good Morning with Energy Podcast- Four additional members were incorporated into the work team
- $127,750 spent. GRUPO ASI is an independent provider of solar systems desigs, offering free solar analysis for small businesses in rural areas of Puerto Rico. The program was created in November 2022 by Borincana Foundation and is funded through a USDA grant.
- $136,986 spent. The REAP Program Rural Energy for America Program is an initiative of the United States Department of Agriculture USDA that offers grants and loan guarantees to help small rural businesses and farmers carry out renewable energy and energy efficiency projects. Through REAP, participants can obtain funding to cover up to 50% of eligible costs for installing solar systems, energy storage, or other clean technologies, with the goal of reducing operational costs, promoting sustainability, and strengthening the resilience of rural communities. At Fundación Borincana, we were approved in November 2024 under the REAP TAG program to provide technical assistance to small rural businesses and farmers who wish to apply to REAP.
- $5,795 spent. The Solar Access Program of the U.S. Department of Energy DOE sought to strengthen energy resilience in Puerto Rico by installing solar systems with batteries in homes located in last-mile communities and in low-income households. In February 2024, Fundación Borincana was selected as one of the 16 Solar Ambassador organizations in the program, with the responsibility of guiding and assisting eligible residents in the municipalities of Fajardo and Río Grande, facilitating their access to safe, reliable, and zero-upfront-cost renewable energy. Fundación Borincana's participation lasted until February 2025, and the program was terminated by the federal government in July 2025.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since October 2019.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.