Rhode Island Turnpike And Bridge Foundation
- Assets
- $83.5k
- Revenue
- $126.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Jamestown, RI
- Founding
- 05/2016
- Data as of
- 06/2022
- EIN
- 81-1360274
Organization Overview
Rhode Island Turnpike And Bridge Foundation is located in Jamestown, RI. The organization was established in 2016. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rhode Island Turnpike And Bridge 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 06/2022, Rhode Island Turnpike And Bridge Foundation generated $126.8k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $148.0k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Rhode Island Turnpike And Bridge Foundation has awarded 33 individual grants totaling $242,500. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE RITB FOUNDATION PROVIDES FUNDS TO WORTHY ORGANIZATIONS WITH PROCEEDS GENERATED FROM SPECIAL EVENTS HELD ON RITBA PROPERTIES THROUGHOUT THE YEAR. THE FOUNDATION PARTNERS WITH LOCAL COMMUNITIES AND NONPROFIT ORGANIZATIONS THAT POSITIVELY IMPACT THE LIVES OF RHODE ISLANDERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE RHODE LSLAND TURNPIKE AND BRIDGE FOUNDATION PROVIDED FUNDS TO WORTHY ORGANIZATIONS WITH PROCEEDS GENERATED FROM THE PELL BRIDGE RUN HELD IN OCTOBER 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen C Waluk Chair | OfficerTrustee | 1 | $0 |
William E O'gara ESQ Secretary | OfficerTrustee | 1 | $0 |
Richard O'neill Treasurer | OfficerTrustee | 1 | $0 |
Earl J Croft III Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $34,000 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $34,000 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $92,806 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $126,806 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $139,000 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $242 |
| Fees for services: Accounting | $1,300 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $875 |
| Insurance | $1,201 |
| All other expenses | $0 |
| Total functional expenses | $147,983 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,518 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $44,000 |
| 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 | $3,937 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $83,455 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $73,870 |
| 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 | $73,870 |
| Net assets without donor restrictions | $9,585 |
| 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 | $83,455 |
Grants Awarded
Over the last fiscal year, Rhode Island Turnpike And Bridge Foundation has awarded $56,500 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
WOMEN'S RESOURCE CENTER OF NEWPORT & BRISTOL COUNTIES PURPOSE: GENERAL SUPPORT/ ASSISTANCE | $6,000 |
SPECIAL OLYMPICS OF RI PURPOSE: GENERAL SUPPORT/ ASSISTANCE | $10,000 |
SAVE THE BAY PURPOSE: GENERAL SUPPORT/ ASSISTANCE | $7,500 |
MEETING STREET PURPOSE: GENERAL SUPPORT/ ASSISTANCE | $10,000 |
SAMARITANS OF RHODE ISLAND PURPOSE: GENERAL SUPPORT/ ASSISTANCE | $7,000 |
C THOMAS CLAGETT REGATTA PURPOSE: GENERAL SUPPORT/ ASSISTANCE | $6,000 |