Ocean State Research Institute Inc is located in Providence, RI. The organization was established in 1989. As of 09/2022, Ocean State Research Institute Inc employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ocean State Research Institute Inc 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 09/2022, Ocean State Research Institute Inc generated $5.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $5.1m during the year ending 09/2022. While expenses have increased by 4.7% 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
OCEAN STATE RESEARCH INSTITUTE'S MISSION IS TO PROVIDE SUPPORT FOR THE RESEARCH AND EDUCATION PROGRAMS AT THE PROVIDENCE VA MEDICAL CENTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDICAL RESEARCH AND EDUCATION.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Mary T Ford Executive Director | Officer | 40 | $78,987 |
Satish Sharma MD President/director | OfficerTrustee | 1 | $0 |
Kenneth Poyton Treasurer/director | OfficerTrustee | 0.25 | $0 |
Wen-Chih Wu MD Director | Trustee | 0.25 | $0 |
Lawrence Connell Director | Trustee | 0.25 | $0 |
Gaurav Choudhary MD Director | Trustee | 0.25 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
Total Program Service Revenue | $5,109,243 |
Investment income | $3,138 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $5,112,381 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $78,987 |
Compensation of current officers, directors, key employees. | $31,595 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $2,063,126 |
Pension plan accruals and contributions | $21,227 |
Other employee benefits | $87,312 |
Payroll taxes | $124,465 |
Fees for services: Management | $7,039 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $19,000 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $4,333 |
Office expenses | $40,540 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $55,322 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $36,224 |
Insurance | $7,993 |
All other expenses | $63,259 |
Total functional expenses | $5,102,442 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $2,374,535 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $371,607 |
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 | $20,148 |
Net Land, buildings, and equipment | $98,210 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $2,864,500 |
Accounts payable and accrued expenses | $400,666 |
Grants payable | $0 |
Deferred revenue | $1,380,430 |
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 | $1,781,096 |
Net assets without donor restrictions | $1,083,404 |
Net assets with donor restrictions | $0 |
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 | $2,864,500 |
Over the last fiscal year, we have identified 3 grants that Ocean State Research Institute Inc has recieved totaling $52,960.
Awarding Organization | Amount |
---|---|
$34,987 | |
Yale University New Haven, CT PURPOSE: SUBAWARD - SPONSORED RESEARCH | $17,968 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Organization Name | Assets | Revenue |
---|---|---|
Boston Va Research Institute Inc Boston, MA | $30,681,512 | $10,948,061 |
Ocean State Research Institute Inc Providence, RI | $2,864,500 | $5,112,381 |
Reliant Foundation Inc Worcester, MA | $31,984,712 | $1,697,308 |
Corporation For Advancement Of Medical Technologies Boston, MA | $930,204 | $1,270,027 |
Carl J Shapiro Institute For Education & Research At Harvard Boston, MA | $3,890,734 | $298,980 |
American Federation For Medical Research Foundation Beverly, MA | $162,209 | $0 |