The principal purpose of the LUIS a. Ferre foundation, INC. (LAFF) is to operate, maintain, conserve, and exhibit its collection of art at the museo DE ARTE DE ponce (MAP), a museum in puerto RICO accredited by the american alliance of museums. LAFF OWNS one of the finest and most importatnt collections of european art in the western hemisphere. Museo DE ARTE DE ponce connects the community with the richness of the western art and its makers, from the fourteenth century to the present. It invites discovery, stimulates curiosity and fosters dialogue. As part of its objectives, it seeks to promote appreciation of art, offers educational and recreational resources, and establishes ties with disadvantaged communities in puerto RICO.
Donations are tax-deductible
Category
Other
Employees
26
Volunteers
1
Financial Snapshot
FY ending 2023-06-30
Revenue
$4.9M
Expenses
$6.1M
Assets
$42.0M
Liabilities
$4.6M
Financial history
$6.3M$3.1M$0
2223
RevenueExpenses
Latest FY2023: $4.9M · Peak FY2022: $6.3M
LUIS A FERRE FOUNDATION INC
Your actions
Address
2325 BLVD LUIS a Ferre
Ponce, PR, 00717-077
Governance
Voting board members12
Independent members12
Conflict-of-interest policyYes
Whistleblower policyYes
Doc-retention policyYes
Audit committeeYes
990 reviewed by boardNo
Compensation practices
Severance paymentsNo
Equity-based compNo
Supplemental retirement planYes
Used comp surveyYes
Board approved compYes
Initial contract exceptionNo
Fundraising activity (Schedule G)
Uses professional fundraisersYes
Retained by contractors$204K
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