Rhode Islanders Sponsoring Education
- Assets
- $522.6k
- Revenue
- $425.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Providence, RI
- Founding
- 01/1997
- Data as of
- 06/2021
- EIN
- 06-1470525
Organization Overview
Rhode Islanders Sponsoring Education is located in Providence, RI. The organization was established in 1997. According to its NTEE Classification (T30) the organization is classified as: Public 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. Rhode Islanders Sponsoring Education 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 06/2021, Rhode Islanders Sponsoring Education generated $425.0k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $303.0k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (5.0%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SCHOLARSHIPS AND MENTORING TO CHILDREN OF CURRENTLY AND FORMERLY INCARCERATED PARENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
APPROXIMATELY 92 STUDENTS ARE INVOLVED IN THE ORGANIZATION'S PROGRAM THAT PROVIDES EDUCATIONAL OPPORTUNITIESAND MENTORING TO CHILDREN OF INCARCERATED PARENTS. THE ORGANIZATION PROVIDES TUITION ASSISTANCE ON A COMPETITIVE BASIS FOR QUALIFYING CHILDREN TO ATTEND INDEPENDENT HIGH SCHOOLS WITH A RIGOROUS ACADEMIC CURRICULUM, HIGH EXPECTATIONS AND A COMMITMENT TO CARING, COMPASSION, AND CHARACTER BUILDING, RISE ALSO PROVIDES A MENTORING PROGRAM FOR CHILDREN 7 THROUGH HIGH SCHOOL TO INCREASE ACCESS TO HEALTHY AND DEPENDABLE ADULTS, AND EXPERIENCES THAT FURTHER LEARNING AND INSPIRE HIGH SCHOOL COMPLETION AND POST SECONDARY PLANNING. RISE ALSO PROVIDES A RANGE OF LEARNING SUPPORTS AS NEEDED, AND SUPPORTS FAMILIES OF THE YOUTH AS WELL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kaitlin Della Grotta Director Of Operations | Officer | 40 | $65,231 |
Kevin Vigilante Founder-Board Member | OfficerTrustee | 2 | $0 |
Tricia O'neil Treasurer | OfficerTrustee | 3.5 | $0 |
Debra Bruneau Secretary | OfficerTrustee | 3.5 | $0 |
Edward Wing Vice President | OfficerTrustee | 3.5 | $0 |
Eulanda Lafrance Board Member | Trustee | 2 | $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 | $420,630 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $420,630 |
| Total Program Service Revenue | $0 |
| Investment income | $4,374 |
| 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 | $425,004 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $134,900 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $65,231 |
| Compensation of current officers, directors, key employees. | $13,046 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $20,510 |
| Payroll taxes | $4,360 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,616 |
| 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 | $556 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,989 |
| 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 | $4,081 |
| Insurance | $4,871 |
| All other expenses | $16,991 |
| Total functional expenses | $302,984 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $208,942 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $850 |
| 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 | $2,811 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $307,807 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,175 |
| Total assets | $522,585 |
| Accounts payable and accrued expenses | $1,073 |
| 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 | $1,073 |
| Net assets without donor restrictions | $521,512 |
| 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 | $522,585 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Rhode Islanders Sponsoring Education has recieved totaling $196,950.
| Awarding Organization | Amount |
|---|---|
The Rhode Island Community Foundation Providence, RI PURPOSE: BREAKING THE CYCLE THROUGH EDUCATION; PROGRAM SUPPORT; RISE EMERGENCY NEEDS FUND; OPPORTUNITY AND HOPE FOR A CHILD; GENERAL SUPPORT; GENERAL OPERATING; BOARD CHAIR/ED COACHING PROGRAM - MINI GRANT | $70,350 |
Haffenreffer Family Fund Providence, RI PURPOSE: Program Support, General Operating | $44,250 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $34,250 |
United Way Of Rhode Island Inc Providence, RI PURPOSE: DESIGNATED DONATION/GRANT | $13,550 |
June Rockwell Levy Foundation Incorporated Providence, RI PURPOSE: BREAKING THE CYCLE THROUGH EDUCATION AND MENTORING | $10,000 |
Billy Andrade-Brad Faxon Charities For Children Inc Providence, RI PURPOSE: CHILDREN CHARITY FUNDING FOR HEALTH, EDUCATION & WELFARE | $8,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bny Mellon Charitable Gift Fund Boston, MA | $342,614,894 | $208,280,795 |
Greater Hartford Community Foundation Inc Hartford, CT | $8,414,279 | $22,150,705 |
Imago Dei Fund Boston, MA | $57,020,766 | $29,637,241 |
Boston Charitable Trust Fund Boston, MA | $1,173,216 | $4,494,143 |
Nfa Foundation Inc Norwich, CT | $77,129,817 | $5,415,738 |
Provision Ministry Inc Westborough, MA | $833,220 | $12,247,682 |
American Friends Of The Royal Foundation Of The Duke And Duchess Newtown, MA | $2,911,496 | $8,616,320 |
Mccourt Foundation Inc Braintree, MA | $29,762,470 | $6,917,849 |
The Red Sox Foundation Inc Boston, MA | $19,048,615 | $7,450,414 |
Hadhramout Foundation Inc Westport, CT | $10,990 | $4,795,440 |
National Charitable Endowment Inc Darien, CT | $102,215,379 | $63,553,523 |
Monks Of Norcia Foundation Norwalk, CT | $2,496,451 | $3,625,099 |