NATIONAL GUARD INSTITUTIONAL TRUST.

LEGAL AUTHORITY

Act 23-1991 as amended, known as the Institutional Trust for the Puerto Rico National Guard Act., created as a public corporation and as an instrumentality of the Commonwealth, under the Puerto Rico National Guard, as an independent corporate body which will be known as the Puerto Rico National Guard Trust.

MISSION

Offer special benefits to the members of the National Guard and their dependents to improve their quality of life.

ORGANIZATIONAL STRUCTURE

  • Office of the Executive Director

PROGRAMS

ANNUITIES, LIFE INSURANCE, FUNERAL INSURANCE AND EDUCATIONAL BENEFITS

Program Description

Offers financial assistance to National Guard retirees between the ages of 55 and 60 with 20 years of honorable service, to cover the loss of income during the period prior to receiving a pension. Provides orientation and counseling services to active and retired members who qualify for life and/or funeral insurance. Keeps files with members' information so that relatives or beneficiaries have no difficulty at the moment of filing a claim. Provides assistance to active members, spouses and their descendants for educational expenses. Educational expenses include college degrees and post-secondary education in duly accredited institutions. In order to receive educational benefits active members must comply with the requirement of a monthly contribution of $5.00, as stated in the law applicable to this Trust.

Statistical Data 2011 2012 2013

 

Annuities 945 945 945
Education benefits for reservists and dependents 1,467 1,467 1,467
Insurance 0 11 11

The statistical data was provided by the Agency during the Fiscal Year 2012-2013 budget formulation process.


Customers

Active and retired members of the National Guard and their families.

GENERAL MANAGEMENT AND ADMINISTRATION

Program Description

Directs, supervises and offers support to the operating programs of the Trust. Also, establishes and develops standards and procedures for the healthy administration of the services offered.

Customers

All components of the Trust.



FISCAL YEAR 2012-2013 ADOPTED BUDGET

The adopted consolidated budget for fiscal year 2012-2013 amounts to $7,429,000 from the Revenues from Internal Sources fund.

Revenues from Internal Sources are generated through the annual sales of the concessions. The Concessions are spaces within the Puerto Rico National Guard premises (PRNG), established to operate military stores, canteens and other similar services. The increase of $576,000 is the result of changes to Goverment Bonds, interest rates and to revenue from the leasing of property.

Operational Expenses reflect an increase of $576,000 when compared to funds assigned in fiscal year 2011-2012. These funds will be used to cover the expenses related to facilities and services, maintenance and other operational costs. It will also be used to cover services for the national guardsmen, their spouses and dependents.

SUMMARY OF AVAILABLE RESOURCES

Consolidated Budget  (thousands $) 2010 2011 2012 2013

 

Program  
Operational Expenses Actual Actual Budget Adopted
Annuities, Life Insurance, Funeral Insurance, and Educational Benefits 5,465 3,584 4,543 4,543
General Management and Administration 3,273 3,980 2,310 2,886
Subtotal, Operational Expenses 8,738 7,564 6,853 7,429
Total, Program 8,738 7,564 6,853 7,429
 
Funding Sources  
Operational Expenses  
Federal Grants 642 0 0 0
Revenues from Internal Sources 8,096 7,564 6,853 7,429
Subtotal, Operational Expenses 8,738 7,564 6,853 7,429
Total, Funding Sources 8,738 7,564 6,853 7,429
 
Expense Category  
Operational Expenses  
Payroll and Related Expenses 237 203 238 243
Rent and Utilities 653 549 474 575
Purchased Services 6 6 10 9
Donations, Subsidies, and Distributions 4,823 3,584 4,543 4,543
Professional Services 1,846 1,198 1,153 1,151
Other Expenses 1,135 1,998 385 857
Equipment Purchases 9 5 30 30
Office Supplies and other Materials 29 21 20 21
Subtotal, Operational Expenses 8,738 7,564 6,853 7,429
Total, Expense Category 8,738 7,564 6,853 7,429