Cvs Health Charity Classic Inc
- Assets
- $1.0m
- Revenue
- $6.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Woonsocket, RI
- Founding
- 05/2000
- Data as of
- 12/2022
- EIN
- 05-0508742
Organization Overview
Cvs Health Charity Classic Inc is located in Woonsocket, RI. The organization was established in 2000. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Cvs Health Charity Classic 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 12/2022, Cvs Health Charity Classic Inc generated $6.9k 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 (51.0%) each year. All expenses for the organization totaled $341.6k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Cvs Health Charity Classic Inc has awarded 297 individual grants totaling $6,281,464. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
THE CVS HEALTH CHARITY CLASSIC, INC. WAS ESTABLISHED TO RAISE MONEY VIA A WORLD CLASS GOLF VENUE FOR THE SUPPORT OF OTHER NON-PROFIT AGENCIES THROUGHOUT NEW ENGLAND. SINCE 1999, THE CVS HEALTH CHARITY CLASSIC, INC. HAS ALLOCATED OVER $28 MILLION IN CHARITABLE DONATIONS TO HUNDREDS OF ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eileen H Boone President/director (thru 4/15/22) | OfficerTrustee | 0.5 | $0 |
Wayne Charness Director | Trustee | 0.5 | $0 |
Scott Cowper Director | Trustee | 0.5 | $0 |
Mark G Kolligian Director | Trustee | 0.5 | $0 |
Faith Weiner Director | Trustee | 0.5 | $0 |
Carol A Denale Vice President/ Treasurer | Officer | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Octagon Inc Management | 12/30/19 | $631,718 |
Rhode Island Country Club Rental Services | 12/30/19 | $365,118 |
Dunkin' Donuts Center Rental Services | 12/30/19 | $343,665 |
Pga Tour Inc Event Organizer | 12/30/19 | $557,511 |
Classic Sports Catering Catering | 12/30/19 | $248,721 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $6,856 |
| 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 | $6,856 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $6,856 |
| 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. | $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 | $300,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,783 |
| 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 | $331 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,769 |
| 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 | $3,487 |
| All other expenses | $0 |
| Total functional expenses | $341,569 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $950,332 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $46,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $22,467 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,018,799 |
| Accounts payable and accrued expenses | $135,613 |
| 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 | $135,613 |
| Net assets without donor restrictions | $883,186 |
| 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 | $1,018,799 |
Grants Awarded
Over the last fiscal year, Cvs Health Charity Classic Inc has awarded $1,579,500 in support to 76 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN HEART ASSOCIATION PURPOSE: GENERAL | $35,000 |
ADOPTION RHODE ISLAND PURPOSE: GENERAL | $10,000 |
AMERICAN RED CROSS OF CONNECTICUT PURPOSE: GENERAL | $35,000 |
AMOS HOUSE PURPOSE: GENERAL | $25,000 |
BARRINGTON EDUCATION FOUNDATION PURPOSE: GENERAL | $10,000 |
AUDUBON SOCIETY OF RHODE ISLAND PURPOSE: GENERAL | $7,500 |