The Rhode Island Community Foundation, operating under the name The Rhode Island Foundation, is located in Providence, RI. The organization was established in 1985. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2023, Rhode Island Foundation employed 59 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rhode Island 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 12/2023, Rhode Island Foundation generated $87.7m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $102.9m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Rhode Island Foundation has awarded 11,812 individual grants totaling $398,884,872. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
A COMMUNITY FOUNDATION DEDICATED TO MEETING THE NEEDS OF THE PEOPLE OF RHODE ISLAND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DONOR DESIGNATED FUNDS: PROVIDING VEHICLES FOR DONORS TO MAKE GRANTS TO QUALIFIED CHARITIES BY DESIGNATING A QUALIFIED CHARITY.
DONOR ADVISED FUNDS: PROVIDING GRANTS TO QUALIFIED 501C(3) ORGANIZATIONS THROUGH FUNDS OVER WHICH DONORS HAVE ADVISORY PRIVILEGES.
STRATEGIC GRANTMAKING PROGRAMS: GRANTMAKING FOCUSED PRIMARILY ON ADDRESSING SPECIFIC PRIORITIES WITHIN THREE STRATEGIC AREAS: ECONOMIC SECURITY, EDUCATION, AND HEALTH. GRANTMAKING ALSO SUPPORTS ORGANIZATIONS AND PROJECTS THAT ARE RESPONSIVE TO COMMUNITY NEEDS IN OTHER AREAS INCLUDING ARTS & CULTURE, ENVIRONMENT, CHILDREN & FAMILIES, AND HOUSING. GRANTS SUPPORT DIFFERENT APPROACHES INCLUDING 1) POLICY, ADVOCACY AND SYSTEMS REFORM: FUNDING PROJECTS THAT INVOLVE RESEARCH AND ANALYSIS ON PRESSING ISSUES; ADVOCACY THAT GIVES VOICE TO UNDERREPRESENTED GROUPS AND PROMOTES INSTITUTIONAL CHANGE 2)ORGANIZATIONAL AND LEADERSHIP CAPACITY: FUNDING PROJECTS TO INCREASE NON PROFIT CAPACITY, AND 3) INNOVATIVE MODELS AND PROVEN PROGRAMS: FUNDING PROJECTS BASED ON UNIQUE RESEARCH OR EXPERIENCE IN A FIELD. WE SEEK TO EXPAND AND SUSTAIN PROGRAMS THAT ARE HIGHLY EFFECTIVE AND PRODUCE RESULTS. WE ALSO OPERATE MULTIPLE SPECIAL GRANT PROGRAMS THAT FUND PROJECTS THAT BEST MATCH DONOR INTENT.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
G Alan Kurose MD MBA Facp Chairperson | OfficerTrustee | 2 | $0 |
Janet Robinson Secretary | OfficerTrustee | 1 | $0 |
Michael K Allio Director | Trustee | 1 | $0 |
Carrie Bridges Feliz MPH Director | Trustee | 1 | $0 |
Melissa R Dubose Director | Trustee | 1 | $0 |
Jonathan D Fain Director | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Adage Capital Partners Lp Asset Management | 12/30/23 | $799,935 |
Providence Equity Asset Management | 12/30/23 | $735,097 |
Charlesbank Capital Partners Asset Management | 12/30/23 | $700,000 |
Silver Point Capital Asset Management | 12/30/23 | $543,464 |
Silchester International Investors Asset Management | 12/30/23 | $536,025 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $12,502,500 |
All other contributions, gifts, grants, and similar amounts not included above | $30,307,800 |
Noncash contributions included in lines 1a–1f | $6,185,489 |
Total Revenue from Contributions, Gifts, Grants & Similar | $42,810,300 |
Total Program Service Revenue | $0 |
Investment income | $14,919,758 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $102,646 |
Net Gain/Loss on Asset Sales | $29,454,707 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $87,701,485 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $82,305,210 |
Grants and other assistance to domestic individuals. | $2,410,963 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $2,191,750 |
Compensation of current officers, directors, key employees. | $1,326,917 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $4,865,709 |
Pension plan accruals and contributions | $387,572 |
Other employee benefits | $857,814 |
Payroll taxes | $473,389 |
Fees for services: Management | $0 |
Fees for services: Legal | $105,768 |
Fees for services: Accounting | $125,400 |
Fees for services: Lobbying | $24,300 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $2,884,535 |
Fees for services: Other | $0 |
Advertising and promotion | $630,585 |
Office expenses | $480,911 |
Information technology | $740,268 |
Royalties | $0 |
Occupancy | $593,007 |
Travel | $79,929 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $228,445 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $188,376 |
Insurance | $86,993 |
All other expenses | $0 |
Total functional expenses | $102,860,359 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $296,991 |
Savings and temporary cash investments | $38,954,271 |
Pledges and grants receivable | $659,294 |
Accounts receivable, net | $10,011 |
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 | $163,196 |
Net Land, buildings, and equipment | $2,723,615 |
Investments—publicly traded securities | $681,856,969 |
Investments—other securities | $521,825,089 |
Investments—program-related | $326,012 |
Intangible assets | $0 |
Other assets | $10,700,092 |
Total assets | $1,257,515,540 |
Accounts payable and accrued expenses | $1,767,508 |
Grants payable | $6,995,723 |
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 | $8,763,231 |
Net assets without donor restrictions | $1,240,474,372 |
Net assets with donor restrictions | $8,277,937 |
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 | $1,257,515,540 |
Over the last fiscal year, The Rhode Island Community Foundation has awarded $80,692,460 in support to 934 organizations.
Grant Recipient | Amount |
---|---|
CENTRAL BAPTIST CHURCH PURPOSE: FAITH-BASED | $9,104 |
UNITED WAY OF RHODE ISLAND PURPOSE: OTHER | $4,909,384 |
THE MIRIAM HOSPITAL FOUNDATION PURPOSE: HEALTHY LIVES | $137,943 |
HOPEHEALTH HOSPICE & PALLIATIVE CARE PURPOSE: HEALTHY LIVES | $219,968 |
DORCAS INTERNATIONAL INSTITUTE OF RHODE ISLAND PURPOSE: ECONOMIC SECURITY | $217,672 |
DAY ONE PURPOSE: HEALTHY LIVES | $194,152 |