Rhode Island Manufacturers Association
- Assets
- $451.6k
- Revenue
- $588.4k
- Investments
- $0.0
- Employees
- 3
- Location
- Smithfield, RI
- Founding
- 04/2005
- Data as of
- 07/2024
- EIN
- 06-1493481
Organization Overview
Rhode Island Manufacturers Association is located in Smithfield, RI. The organization was established in 2005. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 07/2024, Rhode Island Manufacturers Association employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rhode Island Manufacturers Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 07/2024, Rhode Island Manufacturers Association generated $588.4k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 25.9% each year . All expenses for the organization totaled $506.3k during the year ending 07/2024. While expenses have increased by 23.0% per year over the past 5 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
RHODE ISLAND MANUFACTURERS ASSOCIATIONS MISSION IS TO PROMOTE MANUFACTURING IN THE STATE OF RHODE ISLAND
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE ATTACHED STATEMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Chenevert Executive Director | OfficerTrustee | 40 | $0 |
Craig Pickell Chairman | OfficerTrustee | 5 | $0 |
Christopher Goodwin Vice Chair | OfficerTrustee | 5 | $0 |
Michael Mellor Treasurer | OfficerTrustee | 5 | $0 |
Mark Freel Secretary | OfficerTrustee | 5 | $0 |
Dan Shedd Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $122,360 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,800 |
| All other contributions, gifts, grants, and similar amounts not included above | $121,101 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $249,261 |
| Total Program Service Revenue | $0 |
| Investment income | $9,096 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $330,065 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $588,422 |
| 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. | $92,871 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $95,180 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,620 |
| Payroll taxes | $8,609 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $600 |
| Fees for services: Accounting | $1,250 |
| Fees for services: Lobbying | $11,743 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $15,847 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,757 |
| Travel | $311 |
| 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 | $2,528 |
| All other expenses | $121,449 |
| Total functional expenses | $506,297 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $135,778 |
| Savings and temporary cash investments | $184,096 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $131,723 |
| Total assets | $451,597 |
| Accounts payable and accrued expenses | $10,434 |
| Grants payable | $0 |
| Deferred revenue | $23,775 |
| 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 | $2,734 |
| Total liabilities | $36,943 |
| Net assets without donor restrictions | $0 |
| 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 | $414,654 |
| Total liabilities and net assets/fund balances | $451,597 |