The Rhode Island Community Foundation

Organization Overview

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.

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.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Adage Capital Partners Lp
Asset Management
$799,935
Providence Equity
Asset Management
$735,097
Charlesbank Capital Partners
Asset Management
$700,000
Silver Point Capital
Asset Management
$543,464
Silchester International Investors
Asset Management
$536,025
View All Vendors

Financial Statements

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

Grants Awarded

Over the last fiscal year, The Rhode Island Community Foundation has awarded $80,692,460 in support to 934 organizations.

Grant RecipientAmount

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
View Grant Profile

Peer Organizations

Organization NameAssets
Boston Foundation Inc
Boston, MA
$325,590,260
The Rhode Island Community Foundation
Providence, RI
$87,701,485
Hartford Foundation For Public Giving
Hartford, CT
$84,111,242
Community Foundation For Greater New Haven
New Haven, CT
$102,254,142
Fairfield Countys Community Foundation Inc
Norwalk, CT
$46,758,216
The Berkshire Taconic Community Foundation Inc
Sheffield, MA
$31,998,976
Essex County Community Foundation Incorporated
Danvers, MA
$22,676,023
Community Foundation Of Western Massachusetts
Springfield, MA
$50,890,910
Greater Worcester Community Foundation Inc
Worcester, MA
$20,277,510
Connecticut Community Foundation Inc
Waterbury, CT
$14,938,642
Community Foundation Of Eastern Connecticut
New London, CT
$10,396,872
Southcoast Community Foundation Inc
New Bedford, MA
$12,813,868
Northwest Connecticut Community Foundation Inc
Torrington, CT
$11,882,458
Community Foundation For Nantucket
Nantucket, MA
$6,964,101
Community Foundation Of North Central Massachusetts Inc
Fitchburg, MA
$9,751,867
Cambridge Community Foundation
Cambridge, MA
$9,057,773
Greater Lowell Community Foundation Inc
Lowell, MA
$9,411,237
Foundation For Metrowest Inc
Natick, MA
$4,580,455
United Bank Foundation Massachusetts Inc
Springfield, MA
$862,444
Bunker Hill Community College Foundation Inc
Boston, MA
$3,865,988
Community Foundation Of Greater New Britain Inc
New Britain, CT
$3,040,968
Southside Community Land Trust
Providence, RI
$3,035,010
Community Foundation Of Middlesex County Inc
Middletown, CT
$3,250,849
New Canaan Community Foundation Inc
New Canaan, CT
$2,915,669
Main Street Community Foundation
Bristol, CT
$3,587,205

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