Community College Of Rhode Island Foundation
- Assets
- $8.3m
- Revenue
- $2.5m
- Investments
- $232.2k
- Employees
- 0
- Location
- Warwick, RI
- Founding
- 02/1982
- Data as of
- 06/2022
- EIN
- 05-0394214
Organization Overview
Community College Of Rhode Island Foundation is located in Warwick, RI. The organization was established in 1982. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community College Of Rhode Island Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Community College Of Rhode Island Foundation generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.2% each year . All expenses for the organization totaled $2.1m during the year ending 06/2022. While expenses have increased by 19.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE COMMUNITY COLLEGE OF RHODE ISLAND THROUGH DYNAMIC CAMPAIGNS AND PUBLIC AWARENESS OF THE COLLEGE'S VALUE TO THE COMMUNITY IN SUPPORT OF CCRI'S STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
890 STUDENTS RECEIVED SCHOLARSHIPS AND AWARDS TOTALING $533,928
INSTITUTIONAL SERVICES AND SUPPORT REPRESENTS EXPENDITURES BY THE FOUNDATION TO SUPPORT THE COLLEGE AND ITS STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kim Barker Lee Second Vice President | OfficerTrustee | 5 | $0 |
Karen Hammond First Vice President | OfficerTrustee | 5 | $0 |
Mariela Lucaj Clerk | OfficerTrustee | 1 | $0 |
Erica Olobri Treasurer | OfficerTrustee | 5 | $0 |
Jaymin Patel President | OfficerTrustee | 5 | $0 |
Carmen Diaz-Jusino Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $386,800 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,923,969 |
| Noncash contributions included in lines 1a–1f | $11,566 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,310,769 |
| Total Program Service Revenue | $0 |
| Investment income | $94,932 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $203,189 |
| Net Income from Fundraising Events | -$61,196 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,547,694 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $533,928 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,675 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $46,752 |
| Fees for services: Other | $0 |
| Advertising and promotion | $771 |
| Office expenses | $18,966 |
| Information technology | $80,700 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $10,250 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,357 |
| All other expenses | $17,455 |
| Total functional expenses | $2,130,860 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,325,007 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $545,856 |
| Accounts receivable, net | $1,349 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $20,100 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,148,720 |
| Investments—other securities | $232,202 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,273,234 |
| Accounts payable and accrued expenses | $506,586 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $506,586 |
| Net assets without donor restrictions | $768,552 |
| Net assets with donor restrictions | $6,998,096 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $8,273,234 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Community College Of Rhode Island Foundation has recieved totaling $86,730.
| Awarding Organization | Amount |
|---|---|
Alletta Morris Mcbean Charitable Trust La Quinta, CA PURPOSE: STUDENT EMERGENCY RELIEF FUND - 2020-2021 | $50,000 |
United Way Of Rhode Island Inc Providence, RI PURPOSE: DESIGNATED DONATION/GRANT | $23,772 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $6,199 |
Workday Foundation Wilmington, DE PURPOSE: RAISING OPPORTUNITIES PROGRAM | $5,000 |
Fidelity Foundation Boston, MA PURPOSE: MATCHING GIFTS TO EDUCATION | $1,000 |
Fidelity Foundation Boston, MA PURPOSE: MATCHING GIFTS TO EDUCATION | $500 |
Endowment Analysis
| Beg. Balance | $4,741,239 |
| Earnings | -$836,261 |
| Admin Expense | $38,504 |
| Net Contributions | $52,675 |
| Grants | $107,284 |
| Ending Balance | $3,811,865 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Laboure College Milton, MA | $45,194,532 | $27,640,427 |
Norwalk Community College Foundation Norwalk, CT | $32,505,867 | $5,211,834 |
Bristol Community College Foundati On Inc Fall River, MA | $20,944,384 | $2,292,691 |
Community College Of Rhode Island Foundation Warwick, RI | $8,273,234 | $2,547,694 |
Middlesex Coummunity College Foundation Inc Lowell, MA | $8,363,120 | $1,032,499 |
Massasoit Community College Foundation Inc Brockton, MA | $2,221,109 | $580,357 |
North Shore Community College Foundation Inc Danvers, MA | $11,075,370 | $5,346,444 |
Springfield Technical Community College Foundation Inc Springfield, MA | $5,552,891 | $8,426 |
New England Technical College East Greenwich, RI | $0 | $0 |