Cvs Health Charity Classic Inc
- Assets
- $1.7m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Woonsocket, RI
- Founding
- 05/2000
- Data as of
- 12/2020
- 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 12/2020, Cvs Health Charity Classic Inc generated $2.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.7% each year. All expenses for the organization totaled $1.5m during the year ending 12/2020. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
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 | OfficerTrustee | 0.5 | $0 |
Thomas S Moffatt Secretary | Officer | 0.5 | $0 |
Carol A Denale Vice President/ Treasurer | Officer | 0.5 | $0 |
Jeffrey E Clark Assistant Secretary | Officer | 0.5 | $0 |
Melanie K St Angelo Assistant Secretary | Officer | 0.5 | $0 |
Wayne Charness Director | Trustee | 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 |
Pga Tour Inc Event Organizer | 12/30/19 | $557,511 |
Classic Sports Catering Catering | 12/30/19 | $248,721 |
Dunkin' Donuts Center Rental Services | 12/30/19 | $343,665 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,958,054 |
| Related organizations | $682,480 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,655,534 |
| 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 | -$535,434 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,120,100 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,502,500 |
| 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. | $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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,502,500 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $942,684 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $711,658 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $24,242 |
| 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 | $1,678,584 |
| Accounts payable and accrued expenses | $461,097 |
| 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 | $856 |
| Total liabilities | $461,953 |
| Net assets without donor restrictions | $1,201,631 |
| Net assets with donor restrictions | $15,000 |
| 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 | $1,678,584 |
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 |
|---|---|
New Haven, CT PURPOSE: GENERAL | $50,000 |
Providence, RI PURPOSE: GENERAL | $41,000 |
Providence, RI PURPOSE: GENERAL | $41,000 |
Smithfield, RI PURPOSE: GENERAL | $40,000 |
New Haven, CT PURPOSE: GENERAL | $40,000 |
Dallas, TX PURPOSE: GENERAL | $35,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cvs Health Charity Classic Inc has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Wjo Foundation Los Angeles, CA PURPOSE: GENERAL SUPPORT | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Eastern Bank Charitable Foundation Lynn, MA | $286,575,476 | $18,352,628 |
Elms Foundation Providence, RI | $0 | -$22,907 |
Newmans Own Foundation Westport, CT | $226,904,846 | $19,666,525 |
Growald Climate Fund Inc Brookline, MA | $40,583,150 | $39,346,635 |
Peter And Ann Lambertus Family Foundation Inc Boston, MA | $280,283,227 | $22,807 |
F B Heron Foundation New Milford, CT | $412,823,233 | $28,288,660 |
Ralph R Papitto And Barbara A Papitto Private Family Foundation Hope, RI | $20,164,629 | $44,911,185 |
Diebold Foundation Inc Roxbury, CT | $15,650,779 | $11,297,446 |
Schooner Foundation Boston, MA | $234,086,951 | $101,845,887 |
Amelia Peabody Foundation Wellesley, MA | $142,407,971 | $16,470,894 |
Crimson Lion Foundation Boston, MA | $63,778,253 | $10,788,706 |
Hassenfeld Foundation Providence, RI | $69,706,667 | $3,941,296 |