Ralph R Papitto And Barbara A Papitto Private Family Foundation
- Assets
- $27.1m
- Revenue
- $35.8m
- Investments
- $14.6m
- Employees
- 0
- Location
- Providence, RI
- Founding
- Data as of
- 12/2022
- EIN
- 85-4150612
Organization Overview
Ralph R Papitto And Barbara A Papitto Private Family Foundation is located in Providence, 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.
For the year ending 12/2022, Ralph R Papitto And Barbara A Papitto Private Family Foundation generated $35.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (10.8%) each year. All expenses for the organization totaled $23.3m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Ralph R Papitto And Barbara A Papitto Private Family Foundation has awarded 195 individual grants totaling $33,627,558. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPED AND BRANDED THE TRANSFORM RHODE ISLAND SCHOLARSHIP (TRIS) ANNUAL EVENT. THE PROGRAM 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 RESULTS CAN BE FOUND ON OUR WEBSITE AT WWW.POCFOUNDATION.COM
THE FOUNDATION PROVIDES ALL FUNDED ORGANIZATIONS CERTAIN DIRECT SUPPORT SERVICES. TO ASSIST WITH IMPACT REPORTING,POC OFFERS A DATA COLLECTION PLATFORM - 501DATABASE.COM - THAT WAS CUSTOM-DESIGNED WITH IN THE INPUT OF OUR FUNDED NON-PROFIT ORGANIZATIONS. APPLYING FOR GRANTS CAN BE CRITICAL TO SUCCESS. TO HELP, THE FOUNDATION HAS ENGAGED CONSULTANTS TO WORK WITH DIRECTLY WITH OUR FUNDED ORGANIZATIONS IN THE AREAS OF FINANCIAL MANAGEMENT AND ORGANIZATIONAL PROCESS.FOR THOSE ORGANIZATIONS WITHOUT ACCESS TO PROFESSIONAL PUBLIC RELATIONS ASSISTANCE, WE ALSO PROVIDE LIMITED ASSISTANCE FROM A PR FIRM. ADDITIONALLY, THE FOUNDATION PROVIDES ACCESS TO LEADERSHIP RHODE ISLAND'S STRENGTHS IDENTIFICATION PROGRAM, FREE OF CHARGE TO ALL FUNDED ORGANIZATIONS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Papitto Trustee | 20 | $120,000 | |
John Tarantino Managing Trustee | 40 | $460,200 | |
Edward Pieroni Trustee | 8 | $120,000 | |
Ting Barnard Board Member | 0 | $0 | |
Saima Chaudhry Board Member | 0 | $0 | |
Andrew Cortes Board Member | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Perry Group | 12/30/22 | $686,890 |
Tfmcabe Bda Performance Concepts | 12/30/22 | $169,836 |
Figments Llc | 12/30/22 | $67,596 |
Ian Travis Barnard Photography | 12/30/22 | $39,250 |
New Flavor Media Llc | 12/30/22 | $73,123 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $30,951,108 |
| Interest on Savings | $0 |
| Dividends & Interest | $334,108 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,479,769 |
| Capital Gain Net Income | $4,479,769 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $35,764,985 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $700,200 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $9,897 |
| Taxes | $7,947 |
| Depreciation | $44,881 |
| Occupancy | $82,075 |
| Travel, conferences, and meetings | $119,018 |
| Printing and publications | $0 |
| Other expenses | $1,087,323 |
| Total operating and administrative expenses | $2,323,297 |
| Contributions, gifts, grants paid | $20,938,333 |
| Total expenses and disbursements | $23,261,630 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,846,418 |
| 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 | $1,995,600 |
| 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 | $651,057 |
| Other assets | $0 |
| Total assets | $27,083,440 |
| 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 $20,938,333 in support to 150 organizations.
| Grant Recipient | Amount |
|---|---|
A LEADERSHIP JOURNEY PURPOSE: GRANTS | $50,000 |
AMOS HOUSE PURPOSE: GRANTS | $450,000 |
AS220 PURPOSE: GRANTS | $50,000 |
BALCK LIVES MATTER RI PURPOSE: GRANTS | $20,000 |
BOYS & GRIRLS CLUB NORTHERN RI PURPOSE: GRANTS | $25,000 |
BOYS & GRILS CLUB OF EAST PROVIDENCE PURPOSE: GRANTS | $25,000 |