The Pawtucket Foundation
- Assets
- $380.5k
- Revenue
- $434.9k
- Investments
- $0.0
- Employees
- 2
- Location
- Pawtucket, RI
- Founding
- 08/2000
- Data as of
- 06/2022
- EIN
- 05-0511879
Organization Overview
The Pawtucket Foundation is located in Pawtucket, RI. The organization was established in 2000. 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. As of 06/2022, Pawtucket Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pawtucket 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 06/2022, Pawtucket Foundation generated $434.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.9% each year. All expenses for the organization totaled $451.6k 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION WAS CREATED FOR THE SPECIFIC PURPOSE OF IMPROVING THE LIVES OF THE RESIDENTS OF PAWTUCKET, RI. MANY PROGRAMS AND PROJECTS WILL ALSO BY EXTENSION BENEFITING RESIDENTS OF THE NEIGHBORING CITY OF CENTRAL FALLS, RI. THE FOUNDATION WILL CREATE, DEVELOP AND IMPLEMENT PROGRAMS AND RESOURCES DESIGNED TO MOBILIZE THE PRIVATE SECTOR IN ECONOMIC DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION CREATES, DEVELOPS AND IMPLEMENTS PROGRAMS AND RESOURCES DESIGNED TO MOBILIZE THE PRIVATE AND NON-PROFIT SECTOR ALONG WITH LOCAL GOVERNMENT IN ECONOMIC DEVELOPMENT.
MISCELLANEOUS PROPGRAMS DESIGNED TO ENHANCE THE BEAUTY AND CIVIC PRIDE OF THE LOCAL AREA.
THE FOUNDATION SPONSORED AN ANNUAL DINNER TO RECOGNIZE OUTSTANDING INDIVIDUAL(S) WHO HAVE ADVANCED THE IDEALS OF CIVIC ENTREPRENEURSHIP ADVOCATED AND ADVANCED BY THE FOUNDATION
HOSTED PAWTUCKET PROUD DAY, AN ANNUAL CORPORATE VOLUNTEER OUTING. 43 BUSINESSES CONTRIBUTED VOLUNTEERS AND/OR IN-KIND DONATIONS TO LANDSCAPE, CLEAN UP OR PAINT SVEN DEY SITES AROUND PAWTUCKET AND CENTRAL FALLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jan A Brodie Executive Di | Officer | 35 | $84,800 |
James Alden Board Member | Trustee | $0 | |
Brian Azar Board Member | Trustee | $0 | |
Joseph Bradley Board Member | Trustee | $0 | |
Vincent S Ceglie Board Member | Trustee | $0 | |
Michael Gazdacko Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $197,575 |
| All other contributions, gifts, grants, and similar amounts not included above | $201,218 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $398,793 |
| Total Program Service Revenue | $0 |
| Investment income | $2,151 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $33,989 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $434,933 |
| 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. | $84,800 |
| Compensation of current officers, directors, key employees. | $12,720 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $48,960 |
| Pension plan accruals and contributions | $10,240 |
| Other employee benefits | $6,000 |
| Payroll taxes | $10,340 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,753 |
| Advertising and promotion | $3,456 |
| Office expenses | $5,365 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,382 |
| Travel | $3,176 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,000 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,122 |
| All other expenses | $0 |
| Total functional expenses | $451,620 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $248,583 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $15,850 |
| 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 | $0 |
| Net Land, buildings, and equipment | $37 |
| Investments—publicly traded securities | $111,947 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,115 |
| Total assets | $380,532 |
| Accounts payable and accrued expenses | $5,262 |
| 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 | $5,527 |
| Total liabilities | $10,789 |
| Net assets without donor restrictions | $186,263 |
| Net assets with donor restrictions | $183,480 |
| 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 | $380,532 |