Ralph R Papitto And Barbara A Papitto Private Family Foundation
- Assets
- $20.2m
- Revenue
- $44.9m
- Investments
- $12.3m
- Employees
- 0
- Location
- Hope, RI
- Founding
- Data as of
- 12/2021
- EIN
- 85-4150612
Organization Overview
Ralph R Papitto And Barbara A Papitto Private Family Foundation is located in Hope, RI. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ralph R Papitto And Barbara A Papitto Private Family Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2021, Ralph R Papitto And Barbara A Papitto Private Family Foundation has awarded 45 individual grants totaling $12,689,225. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPED AND BRANDED THE TRANSFORM RHODE ISLAND SCHOLARSHIP ANNUAL EVENT. THE PROGRAM KICKED OFF IN OCTOBER 2021 AND ENCOURGAED HIGH SCHOOL STUDENTS FROM THE BIPOC COMMUNITES TO PARTICIPATE IN A CONTEST TO ANSWER ONE QUESTION, "IF YOU HAD $1 MILLION, HOW WOULD YOU IMPROVE RHODE ISLAND'S COMMUNITIES OF COLOR?". THIS HAD AS ITS SUB-CAMPAIGN A PROGRAM DIRECTED AT BIPOC STUDENTS BASED ON FOUR CORE PILLARS: TRANSFORMATION, INSPRIATION, RHODE ISLAND AND THE POWER OF YOUTH. THE FULL IMPACT OF THE "TRIS" PROGRAM WAS NOT REALIZED UNTIL THE 2022 TAX YEAR. ADDITIONAL INFROMATION ABOUT THE TRIS PROGRAM AND ITS INITAL RESULTS CAN BE FOUND ON OUR WEBSITE AT WWW.POCFOUNDATION.COM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Tarantino Managing Trustee | 40 | $264,000 | |
Barbara Papitto Trustee | 20 | $120,000 | |
Edward Pieroni Trustee | 8 | $120,000 | |
Ting Barnard Board Member | 0 | $0 | |
Andrew Cortes Board Member | 0 | $0 | |
Dennis Coleman Board Member | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ian Travis Barnard Photography | 12/30/21 | $199,292 |
The Perry Group | 12/30/21 | $265,392 |
Tfmcabe Bda Performance Concepts | 12/30/21 | $190,928 |
Careerdevs Computer Science Institute | 12/30/21 | $102,054 |
Jett Rose Media Group | 12/30/21 | $99,014 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $34,600,145 |
| Interest on Savings | $0 |
| Dividends & Interest | $204,601 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $10,106,439 |
| Capital Gain Net Income | $10,106,439 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $44,911,185 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $504,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $9,309 |
| Taxes | $4,855 |
| Depreciation | $7,200 |
| Occupancy | $98,490 |
| Travel, conferences, and meetings | $119,168 |
| Printing and publications | $0 |
| Other expenses | $1,038,537 |
| Total operating and administrative expenses | $2,051,927 |
| Contributions, gifts, grants paid | $12,689,225 |
| Total expenses and disbursements | $14,741,152 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,450,865 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $874,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $568,237 |
| Other assets | $0 |
| Total assets | $20,164,629 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Ralph R Papitto And Barbara A Papitto Private Family Foundation has awarded $12,689,225 in support to 45 organizations.
| Grant Recipient | Amount |
|---|---|
LIFESPAN PURPOSE: TO FUND A PROGRAM OF JOB CREATION IN THE HEALTHCARE SECTOR FOR BIPOC COMMUNITY | $1,500,000 |
TEACH FOR AMERICA PURPOSE: TO FUND PROGRAM TO CREATE TEACHING POSTIONS FOR BIPOC INDIVIDUALS | $750,000 |
Providence, RI PURPOSE: TO FUND FOOD INSECURITY PROGRAMS | $721,316 |
CAREER DEVS COMPUTER SCIENCE PURPOSE: TO FUND SCHOLARSHIPS FOR JOB TRAINING IN THE FIELD OF TECHNOLOGY | $700,000 |
THE RI FOUNDATION PURPOSE: TO FUND PROVIDENCE PUBLIC SHOOLS AND SMART CLINICS | $600,000 |
THE ELISHA PROJECT PURPOSE: TO FUND FOOD PROGRAMS IN THE BIPOC COMMUNITY IN CULTRALLY AWARE MANNER | $535,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Morningside Foundation Newton Centre, MA | $22,445,720 | $11,895,776 |
The Patrick J Mcgovern Foundation Inc Boston, MA | $1,660,673,846 | $20,910,577 |
One8 Foundation Boston, MA | $488,764,350 | $32,279,319 |
Flatley Foundation Braintree, MA | $730,489,671 | $65,780,367 |
Iiegn Family Foundation Boston, MA | $7,705,932 | $1,021,594 |
Ge Foundation Norwalk, CT | $5,053,086 | $27,501,215 |
State Street Foundation Inc Boston, MA | $7,590,446 | $6,540 |
Edward C Johnson Fund Boston, MA | $418,919,628 | $48,451,859 |
Broad Reach Foundation Boston, MA | $154,449,873 | $51,427,992 |
Tjx Foundation Inc Framingham, MA | $84,142,448 | $26,109,203 |
Silver Family Foundation Darien, CT | $40,909,689 | $21,941,302 |
Richard And Susan Smith Family Foundation Newton, MA | $287,463,199 | $21,143,524 |