Preserve Rhode Island
- Assets
- $11.7m
- Revenue
- $737.5k
- Investments
- $1.5m
- Employees
- 10
- Location
- Providence, RI
- Founding
- 04/1966
- Data as of
- 12/2022
- EIN
- 05-6012417
Organization Overview
Preserve Rhode Island is located in Providence, RI. The organization was established in 1966. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Preserve Rhode Island employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Preserve Rhode Island 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, Preserve Rhode Island generated $737.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (7.7%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROTECT HISTORIC STRUCTURES AND UNIQUE PLACES IN RI FOR CURRENT AND FUTURE GENERATIONS.
Describe the Organization's Program Activity:
STEWARDSHIP: PRESERVE RI OWNS FOUR PROPERTIES, DEMONSTRATING THE CONTINUING CONTRIBUTIONS THAT HISTORIC BUILDINGS MAKE TODAY, PLACING THEM IN ACTIVE USES AND UNDERTAKING MAINTENANCE AND CAPITAL INVESTMENTS TO KEEP THEM IN GOOD REPAIR. PRESERVE RI NOW HOLDS SEVEN PRESERVATION EASEMENTS ON PROPERTIES OWNED BY OTHERS, AND MONITORS BUILDING CONDITIONS TO PROVIDE STEWARDSHIP OVERSIGHT. PRESERVE RI HELPS OTHER NONPROFIT ORGANIZATIONS TAKE CARE OF HISTORIC PROPERTIES BY OFFERING STEWARDSHIP SERVICES.
DIRECT PRESERVATION: PRESERVE RI TAKES DIRECT ACTION TO PROTECT AND ENHANCE HISTORIC PLACES THROUGH ITS REVOLVING FUND PROGRAM, BY ACQUIRING EASEMENTS, AND BY COLLABORATING ON SPECIAL PROJECTS SUCH AS THE AQUIDNECK STONEWALL INITIATIVE AND THE SCENIC THIRD BEACH PROJECT. IN 2021 PRESERVE RI TOOK ON ITS MOST AMBITIOUS REVOLVING FUND PROJECT TO DATE AT THE C 1696 VALENTINE WHITMAN HOUSE IN LINCOLN, RI.
ENGAGE: PRESERVE RI MOTIVATES PEOPLE TO CONNECT WITH HISTORIC PLACES AND MAKES THE CASE FOR SAFEGUARDING RHODE ISLAND'S HISTORIC PLACES. PRESERVE RI IS A LEADING VOICE FOR HISTORIC PRESERVATION, HELPING PEOPLE PRESERVE THE PLACES THAT MATTER TO THEM THROUGH OUR COMMUNITY PRESERVATION RESPONSE PROGRAM. PRESERVE RI CELEBRATES PEOPLE AND PROJECTS THAT EXEMPLIFY THE BEST OF HISTORIC PRESERVATION. MUSEUM PROGRAMMING AT LIPPITT HOUSE MUSEUM CONNECTS DIVERSE COMMUNITIES AND WHILE FACILITATING OTHER PRESERVATION PROGRAMS IN COLLABORATION WITH OTHER GROUPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sheila Brush Trustee | Trustee | 1 | $0 |
Kristin Dekuiper Treasurer | OfficerTrustee | 1 | $0 |
William W Kenyon Co Chairperson And Secretary | OfficerTrustee | 1 | $0 |
Elizabeth Goddard Co Chairperson | OfficerTrustee | 1 | $0 |
Michael Sherry Trustee | Trustee | 1 | $0 |
Theresa Guzman Stokes Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $11,533 |
| Fundraising events | $65,786 |
| Related organizations | $0 |
| Government grants | $17,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $408,804 |
| Noncash contributions included in lines 1a–1f | $22,690 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $503,623 |
| Total Program Service Revenue | $110,152 |
| Investment income | $151,732 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $71,441 |
| Net Gain/Loss on Asset Sales | -$101,112 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $737,487 |
| 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. | $102,626 |
| Compensation of current officers, directors, key employees. | $30,788 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $361,247 |
| Pension plan accruals and contributions | $8,074 |
| Other employee benefits | $24,195 |
| Payroll taxes | $37,157 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,350 |
| Fees for services: Accounting | $43,920 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $72,547 |
| Fees for services: Other | $68,448 |
| Advertising and promotion | $1,790 |
| Office expenses | $31,992 |
| Information technology | $13,765 |
| Royalties | $0 |
| Occupancy | $75,452 |
| Travel | $2,482 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,233 |
| Interest | $1,192 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $57,029 |
| Insurance | $44,240 |
| All other expenses | $0 |
| Total functional expenses | $1,326,617 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $570,382 |
| Savings and temporary cash investments | $511,552 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $28,537 |
| 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 | $14,535 |
| Net Land, buildings, and equipment | $3,397,149 |
| Investments—publicly traded securities | $5,716,321 |
| Investments—other securities | $1,493,976 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,732,452 |
| Accounts payable and accrued expenses | $52,415 |
| 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 | $169,108 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $165,516 |
| Total liabilities | $387,039 |
| Net assets without donor restrictions | $3,063,932 |
| Net assets with donor restrictions | $8,281,481 |
| 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 | $11,732,452 |