Westerly Revolving Fund Inc

Organization Overview

Westerly Revolving Fund Inc is located in Westerly, RI. The organization was established in 2014. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westerly Revolving Fund Inc 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, Westerly Revolving Fund Inc generated $100.0 in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (52.0%) each year. All expenses for the organization totaled $926.0 during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990EZ Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO PRESERVE HISTORICAL HERITAGE OF WESTERLY AND STIMULATE COMMUNITY REVITALIZATION.

Describe the Organization's Program Activity:

Part 3

REVOLVING FUND LOAN PROGRAM - THE ORGANIZATION BECAME ESTABLISHED TO PROVIDE TECHNICAL SERVICES TO PROPERTY OWNERS IN WESTERLY'S HISTORIC NEIGHBORHOODS. STAFF WILL PREPARE FOR COST ESTIMATES FOR PROPERTIES AND EXTERIOR SPECIFICATIONS FOR RESIDENTIAL OR COMMERCIAL PROPERTIES, AND MONITOR RESTORATIONS.


COMMUNITY REVITALIZATION PROGRAM - IN APRIL 2019, THE ORGANIZATION PURCHASED A MIXED-USE HISTORIC PROPERTY IN NEED OF RENOVATION AT 134 MAIN ST, WESTERLY, RI. THE ORGANIZATION BEGAN THE RENOVATIONS IMMEDIATELY. ALL RELATED EXPENDITURES HAVE BEEN CAPITALIZED TO THIS PROJECT. THE COMPLETED PROJECT WAS SOLD ON JULY 1, 2021.


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Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$100
Total Program Service Revenue$0
Membership dues$0
Investment income $0
Gain or Loss$0
Net Income from Gaming & Fundraising$0
Other Revenue$0
Total Revenue$100

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