Rhode Island Charities Trust
- Assets
- $37.3k
- Revenue
- $313.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Providence, RI
- Founding
- 08/1992
- Data as of
- 12/2021
- EIN
- 05-0458759
Organization Overview
Rhode Island Charities Trust is located in Providence, RI. The organization was established in 1992. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rhode Island Charities Trust 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 12/2021, Rhode Island Charities Trust generated $313.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (14.4%) each year. All expenses for the organization totaled $341.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (13.3%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
A SECTION 509(A)(3) SUPPORTING ORGANIZATION OF THE RHODE ISLAND COMMUNITY FOUNDATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AWARDING GRANTS FOR CHARITABLE PURPOSES THAT INCLUDE THE GENERAL OPERATIONS OF THE UNITED WAY OF RHODE ISLAND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
G Alan Kurose MD MBA Facp Chairperson | OfficerTrustee | 0.8 | $0 |
Janet Robinson Secretary | OfficerTrustee | 0.3 | $0 |
Neil Steinberg President | Officer | 0.8 | $0 |
Jennifer Reid Treasurer | Officer | 0.8 | $0 |
Meghan Hughes PHD Director | Trustee | 0.3 | $0 |
Tony Mendez Director | Trustee | 0.3 | $0 |
Financial Statements
| 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 | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $313,826 |
| 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 | $313,826 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $321,349 |
| 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. | $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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $13,830 |
| All other expenses | $0 |
| Total functional expenses | $341,477 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $25,577 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $11,739 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8 |
| Total assets | $37,324 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $37,324 |
| 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 | $37,324 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bny Mellon Charitable Gift Fund Boston, MA | $342,614,894 | $208,280,795 |
Greater Hartford Community Foundation Inc Hartford, CT | $8,414,279 | $22,150,705 |
Imago Dei Fund Boston, MA | $57,020,766 | $29,637,241 |
Boston Charitable Trust Fund Boston, MA | $1,173,216 | $4,494,143 |
Nfa Foundation Inc Norwich, CT | $77,129,817 | $5,415,738 |
Provision Ministry Inc Westborough, MA | $833,220 | $12,247,682 |
American Friends Of The Royal Foundation Of The Duke And Duchess Newtown, MA | $2,911,496 | $8,616,320 |
Mccourt Foundation Inc Braintree, MA | $29,762,470 | $6,917,849 |
The Red Sox Foundation Inc Boston, MA | $19,048,615 | $7,450,414 |
Hadhramout Foundation Inc Westport, CT | $10,990 | $4,795,440 |
National Charitable Endowment Inc Darien, CT | $102,215,379 | $63,553,523 |
Monks Of Norcia Foundation Norwalk, CT | $2,496,451 | $3,625,099 |