Provport Inc
- Assets
- $45.3m
- Revenue
- $11.7m
- Investments
- $0.0
- Employees
- 1
- Location
- Providence, RI
- Founding
- 03/1996
- Data as of
- 06/2022
- EIN
- 05-0479488
Organization Overview
Provport Inc is located in Providence, RI. The organization was established in 1996. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Provport 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 06/2022, Provport Inc generated $11.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $13.5m during the year ending 06/2022. While expenses have increased by 11.4% 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.
Since 2015, Provport Inc has awarded 21 individual grants totaling $1,103,934. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOPMENT OF THE PORT OF PROVIDENCE
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT OF THE PORT OF PROVIDENCE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Brody ESQ Secretary/general Counsel | Officer | 40 | $192,000 |
Paul Moura Chairman | OfficerTrustee | 1 | $0 |
Susan Fabrizio Director | Trustee | 1 | $0 |
John Lopes Director | Trustee | 1 | $0 |
Mark Newhart Director | Trustee | 1 | $0 |
Joseph Mcgonale Director | Trustee | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $13,705,053 |
| Investment income | $3,474 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,992,323 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,716,204 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $65,500 |
| 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. | $225,000 |
| Compensation of current officers, directors, key employees. | $225,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,448 |
| Fees for services: Management | $9,810,771 |
| Fees for services: Legal | $17,021 |
| Fees for services: Accounting | $46,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $123,603 |
| Advertising and promotion | $0 |
| Office expenses | $15,852 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $115,000 |
| Travel | $4,858 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,011,892 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,117,104 |
| Insurance | $205,029 |
| All other expenses | $0 |
| Total functional expenses | $13,518,567 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $60,510 |
| Savings and temporary cash investments | $13,362,766 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,238,296 |
| 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 | $76,313 |
| Net Land, buildings, and equipment | $25,365,888 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,210,240 |
| Total assets | $45,314,013 |
| Accounts payable and accrued expenses | $14,342,873 |
| Grants payable | $0 |
| Deferred revenue | $392,576 |
| 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 | $10,276,331 |
| Total liabilities | $25,011,780 |
| Net assets without donor restrictions | $20,302,233 |
| 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 | $45,314,013 |
Grants Awarded
Over the last fiscal year, Provport Inc has awarded $61,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Providence, RI PURPOSE: GENERAL SUPPORT | $37,500 |
PROVIDENCE REDEVELOPMENT AGENCY PURPOSE: NEIGHBORHOOD IMPROVEMENT FUND | $24,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Provport Inc Providence, RI | $45,314,013 | $11,716,204 |
Homestart Inc Boston, MA | $5,713,584 | $14,864,192 |
The Community Action Agency Of Western Connecticut Inc Danbury, CT | $3,614,776 | $12,103,732 |
Massachusetts Manufacturing Extension Partnership Inc Auburn, MA | $5,456,400 | $10,807,956 |
Dorchester Bay Economic Development Corporation Dorchester, MA | $50,118,730 | $16,286,134 |
Worcester Business Development Corporation Worcester, MA | $18,366,111 | $1,969,639 |
Brewery Development Co Of Jamaica Plain Jamaica Plain, MA | $15,925,707 | $3,916,068 |
Community Investment Corporation Hamden, CT | $12,691,886 | $4,160,797 |
Metrohartford Alliance Inc Hartford, CT | $6,195,662 | $3,681,272 |
Greater Dwight Community Investment Corporation New Haven, CT | $10,412,283 | $1,840,301 |
Norwich Community Development Corporation Inc Norwich, CT | $6,304,160 | $823,908 |
Dudley Street Neighborhood Initiative Inc Roxbury, MA | $1,937,118 | $1,598,993 |