R I Hospitality Education Foundation
- Assets
- $487.8k
- Revenue
- $219.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Cranston, RI
- Founding
- 06/1995
- Data as of
- 12/2023
- EIN
- 05-0479089
Organization Overview
R I Hospitality Education Foundation is located in Cranston, RI. The organization was established in 1995. According to its NTEE Classification (J22) the organization is classified as: Job Training, under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. R I Hospitality Education 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 12/2023, R I Hospitality Education Foundation generated $219.6k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $248.8k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (3.8%) per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ENCOURAGE PERSONS EMBARKING ON A CAREER IN THE FOOD SERVICE INDUSTRY. ALSO PROMOTE EDUCATION OF THE INDUSTRY TO THE GENERAL PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENCOURAGING INDIVIDUALS EMBARKING ON A CAREER IN THE FOOD SERVICE INDUSTRY IN RHODE ISLAND AND PROMOTING EDUCATION AND UNDERSTANDING OF THE INDUSTRY TO THE GENERAL PUBLIC.HOSPITATLITY CAREER CONFERENCE WITH 125 HIGH SCHOOL STUDENTS ATTENDING FROM ACROSS THE ENTIRE STATE. PARTNERHIP WITH FABNEWPORT AND VAN BEUREN CHARITABLE FOUNDATION TO PROVIDE CAREER- EXPLORATION EXPERIENCES TO MIDDLE SCHOOL STUDENTS ALLOWING THEM TO WORK IN KITCHENS ALONGSIDE CHEFS AND INDUSTRY LEADERS TO GET A REAL HANDS-ON EDUCATION. WE AWARDED FOUR LOCAL STUDENTS WITH OUR ANNUAL SCHOLARSHIP THIS YEAR. WE HELPED OVER FIFTY INDUSTRY WORKERS THIS YEAR THROUGH OUR EMPLOYEE RELIEF FUND, BRINGING OUR GRANT TOTAL TO 296 SINCE THE PANDEMIC. WE TRAINED 950 EMPLOYEES, A 37% INCREASE IN TRAINING OVER LAST YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Chile Director | Trustee | 1 | $0 |
Angela Armenise Director | Trustee | 1 | $0 |
Damian Santoro Director | Trustee | 1 | $0 |
David Depetrillo Chairman | OfficerTrustee | 1 | $0 |
Floyd Crisp Director | Trustee | 1 | $0 |
Frank Martucci Treasurer | OfficerTrustee | 1 | $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 | $78,275 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $78,275 |
| Total Program Service Revenue | $136,883 |
| Investment income | $4,524 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$103 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $219,579 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $9,000 |
| 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 | $3,662 |
| Fees for services: Accounting | $19,173 |
| 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 | $10,305 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,621 |
| Travel | $1,799 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,684 |
| Interest | $5,772 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,860 |
| All other expenses | $66 |
| Total functional expenses | $248,761 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $159,103 |
| Savings and temporary cash investments | $166 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,799 |
| 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 | $2,073 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $318,444 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,193 |
| Total assets | $487,778 |
| Accounts payable and accrued expenses | $119,808 |
| 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 | $209,900 |
| Other liabilities | -$1,193 |
| Total liabilities | $328,515 |
| Net assets without donor restrictions | $110,002 |
| Net assets with donor restrictions | $49,261 |
| 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 | $487,778 |
Grants Awarded
Over the last fiscal year, R I Hospitality Education Foundation has awarded $75,000 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
SNOOKERS INC PURPOSE: TAKE IT OUTSIDE GRANT | $5,000 |
KABOB & CURRY PURPOSE: TAKE IT OUSTIDE GRANT | $5,000 |
MCGRATH CLAMBAKES PURPOSE: TAKE IT OUTSIDE GRANT | $5,000 |
NEWPORT TIMES RESORT INC PURPOSE: TAKE IT OUTSIDE GRANT | $5,000 |
ANTONIO'S PIZZA PURPOSE: TAKE IT OUTSIDE GRANT | $5,000 |
FAIRFIELD INN BY MARRIOTT PURPOSE: TAKE IT OUTSIDE GRANT | $5,000 |