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Fundacion Rimas Inc

EIN 66-0937678 · San Juan, PR

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthStrong93 out of 100GovernanceGood74 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

INSPIRE THE NEXT GENERATION OF LEADERS THROUGH SPORTS, MUSIC AND ART.

Income
$1.1 million
Spending
$789,806
Spent on programs
73%
Reserves
6.4 months of spending
Largest source of income
donations and private grants, 100%
Employees
4
Volunteers
0
Highest pay
$76,320, executive director

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

Strong: 93 out of 100. Higher than 80% of charities in its peer group (human services, $1m to $10m).

  • Reserves

    28 of 35

    Spendable reserves would cover 6.4 months of spending.

  • Debt

    20 of 20

    It owes 1% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 26% of income.

  • Income trend

    15 of 15

    Income rose 76% on the year before.

  • Spending floor

    15 of 15

    73% 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

Good: 74 out of 100. Higher than 25% of charities in its peer group (human services, $1m to $10m).

  • Independent board

    25 of 25

    11 of 11 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    0 of 5

    Reports no independent review process for its chief executive's pay.

  • Independent check of accounts

    9 of 15

    Its accounts were reviewed or compiled by an independent accountant, but not audited.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or 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 (1)
  1. $576,638 spent. WE ARE DEDICATED TO SHAPING THE NEXT GENERATION OF PUERTO RICAN MUSICIANS, ARTISTS AND ATHLETES. OUR COMPREHENSIVE PROGRAMS INCLUDES MUSIC PROGRAMS, COLLABORATIONS, AND ARTIST AND ATHELETE PARTNERSHIP THAT CREATE A PROFOUND IMPACT ON A DIVERSE ARRAY OF YOUNG INDIVIDUALS. THROUGH STRATEGIC ALLIANCES WITH LOCAL ORGANIZATIONS AND INDUSTRY LEADERS, WE ARE PAVING THE PATH FOR PUERTO RICO'S YOUTH TO EMERGE AS POWERFUL CATALYSTS OF POSIBLE CHANGE. DURING YEAR 2024 WE HAVE CONTRIBUTED TO MUSIC, ART AND SPORTS ACTIVITIES THROUGH INDIVIDUALS, COMMUNITIES AND GROUPS AS FOLLOWS: 1-A MOBILE MUSIC RECORDING STUDIO THAT TRAVELS TO VARIOUS COMMUNITIES IN PUERTO RICO REACHING 200 YOUTH MUSICIANS. 2-WE ESTABLISHED TWO CENTERS IN PUERTO RICO FOR THE FIRST VOCATIONAL PROGRAM IN THE MUSIC INDUSTRY AND THE ENTERTAINMENT. AROUND 200 YOUNGS ATTENDED. 3-ON COMMUNITY INITIATIVES PROGRAM, 15 STUDENTS ATTENDED A STEEL DRUM WORKSHOP AND 613 STUDENTS ATTENTED A LECTURE ON THE MUSICAL INDUSTRY LOCAL AND WORLWIDE. AROUND 230 YOUNGS ATTENDED BOXING AND BASKETBALL CLINICS AND OVER 300 CHILDREN AT A BACK-TO-SCHOOL EVENT. 4-WE AWARDED SCHOLARSHIPS AND DIRECT FINANCIAL AID TO 448 YOUNGS ON MUSIC, ART AND SPORTS. 5-WE IMPLEMENTED A PROTOCOL FOR QUICK RESPONSE ON EMERGENCIES OCURRING IN PUERTO RICO. MORE THAN 20,000 PERSONS IN 12 MUNICIPALITIES WERE ATTENDED DURING A HURRICANE, INCLUDING MEDICAL AND HEALTH ASSISTANCE.

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

  1. 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 October 13, 2026.

  2. 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 October 13, 2026.

  3. 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 October 13, 2026.

  4. 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 October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since September 2022.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. 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 21, 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.