NonprofitsBorincana Foundation Inc

Environment

Borincana Foundation Inc

SAN JUAN, PR

Total revenue

$927K

Total expenses

$865K

Net assets

$289K

Grants received

EIN

660904023

Tax year

2024

Mission

Borincana foundation will provide certain consulting service to other non for profit or for profit organization to support and venture with local solar storage companies, microgrid providers, investor, lenders technology providers, and others, to implement accelerated programmatic approaches to marketing, financing, and execution of distributed generation and storage for industrial and commercial customers. Also, the foundation will act as an advisor and grant recipient/ administrator to support federal and local effort for revitalization and transformation of puerto rico.

Programs

4 programs

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

Expenses: $266K

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.

Expenses: $128K

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.

Expenses: $137K

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.

Expenses: $6K

Financials

FY 2024

Revenue

Contributions & grants$927K
Program service revenue
Investment income
Other revenue
Total revenue$927K

Expenses

Grants paid
Salaries & benefits$433K
Fundraising$14K
Other expenses$432K
Total expenses$865K
Total assets$609K
Net assets$289K

People

4 listed

NameRoleCompensation

THOMAS KING

SECRETARY

Board

$95K

4 hrs/wk

ALEJANDRO URIARTE

PRESIDENT

Board

1 hrs/wk

XAIRA FERRARA

DIRECTOR

Board

1 hrs/wk

GABRIEL PEREZ SEPULVEDA

PRESIDENT

Board

1 hrs/wk

Details

EIN660904023
NTEE codeC35
Subsection03
Ruling date2019-10
Formed2018
Employees10
Volunteers0
BORINCANA FOUNDATION INC — Mission, Financials & Grants Received | Grantivo