Civic Intelligence

Ocean State Charities Trust

990 • Fiscal year 2023 • EIN 05-0390916

Jul 01, 2022 to Jun 30, 2023 • Filed on Nov 13, 2023

Organization ProfileWWW.OSCT.ORG
One Citizens Bank WayJohnston, RI 02919

(401) 728-9008

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

21st percentile

0.01x

Higher debt load relative to assets than 21% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

42nd percentile

0.12x

Higher debt load relative to revenue than 42% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

18th percentile

-14%

Higher net margin than 18% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

30th percentile

-0.5%

Faster asset growth than 30% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

55th percentile

8.8%

Faster revenue growth than 55% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets21st percentile

Assets

Down

$5,220,158

Down $24,048 (-0.5%) from 2022

Net Assets

Down

$5,154,068

Down $90,138 (-1.7%) from 2022

Liabilities

Up

$66,090

Up $66,090 from 2022

Revenue And Expenses
Liabilities / Revenue42nd percentileNet Margin18th percentile

Revenue

Up

$539,797

Up $43,804 (+8.8%) from 2022

Expenses

Up

$617,801

Up $83,976 (+16%) from 2022

Net Income

Down

-$78,004

Down $40,172 (-106%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth30th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $5,647,100Liabilities 2011: $0Net Assets 2011: $5,647,1002011Assets 2012: $5,558,910Liabilities 2012: $0Net Assets 2012: $5,558,9102012Assets 2013: $5,746,626Liabilities 2013: $0Net Assets 2013: $5,746,6262013Assets 2014: $6,232,349Liabilities 2014: $0Net Assets 2014: $6,232,3492014Assets 2015: $6,137,108Liabilities 2015: $0Net Assets 2015: $6,137,1082015Assets 2016: $5,990,925Liabilities 2016: $0Net Assets 2016: $5,990,9252016Assets 2017: $6,015,577Liabilities 2017: $0Net Assets 2017: $6,015,5772017Assets 2018: $5,910,145Liabilities 2018: $0Net Assets 2018: $5,910,1452018Assets 2019: $5,900,645Liabilities 2019: $0Net Assets 2019: $5,900,6452019Assets 2020: $5,835,874Liabilities 2020: $0Net Assets 2020: $5,835,8742020Assets 2021: $6,455,606Liabilities 2021: $0Net Assets 2021: $6,455,6062021Assets 2022: $5,244,206Liabilities 2022: $0Net Assets 2022: $5,244,2062022Assets 2023: $5,220,158Liabilities 2023: $66,090Net Assets 2023: $5,154,0682023Assets 2024: $5,320,441Liabilities 2024: $51,033Net Assets 2024: $5,269,4082024Assets 2025: $5,304,666Liabilities 2025: $45,828Net Assets 2025: $5,258,8382025

Highlighted filing

2023

Assets$5,220,158
Liabilities$66,090
Net Assets$5,154,068
Open 2023 Filing

Operations Trend

Revenue Growth55th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2011: $220,568Expenses 2011: $396,237Net Income 2011: -$175,6692011Revenue 2012: $949,309Expenses 2012: $441,699Net Income 2012: $507,6102012Revenue 2013: $577,255Expenses 2013: $422,457Net Income 2013: $154,7982013Revenue 2014: $555,987Expenses 2014: $387,282Net Income 2014: $168,7052014Revenue 2015: $478,933Expenses 2015: $433,285Net Income 2015: $45,6482015Revenue 2016: $396,456Expenses 2016: $453,114Net Income 2016: -$56,6582016Revenue 2017: $475,351Expenses 2017: $483,326Net Income 2017: -$7,9752017Revenue 2018: $353,235Expenses 2018: $479,083Net Income 2018: -$125,8482018Revenue 2019: $300,653Expenses 2019: $482,025Net Income 2019: -$181,3722019Revenue 2020: $239,397Expenses 2020: $514,200Net Income 2020: -$274,8032020Revenue 2021: $623,064Expenses 2021: $546,455Net Income 2021: $76,6092021Revenue 2022: $495,993Expenses 2022: $533,825Net Income 2022: -$37,8322022Revenue 2023: $539,797Expenses 2023: $617,801Net Income 2023: -$78,0042023Revenue 2024: $394,296Expenses 2024: $581,401Net Income 2024: -$187,1052024Revenue 2025: $330,537Expenses 2025: $512,439Net Income 2025: -$181,9022025

Highlighted filing

2023

Revenue$539,797
Expenses$617,801
Net Income-$78,004
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Nov 13, 2023
Return Version
2022v5.0
Gross Receipts
$2,852,960
Mission and Program Overview

Mission

Promotion of social welfare within the state of rhode island.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,229,734$5,131,514▼ $98,220
Accounts Receivable$7,869$12,196▲ $4,327
Cash and Non-Interest-Bearing Accounts$4,221$5,467▲ $1,246
Land, Buildings, and Equipment, Net$1,282$4,796▲ $3,514
Total Assets$5,244,206$5,220,158▼ $24,048
Other Assets Total$1,100$66,185▲ $65,085
Liabilities
Other Liabilities-$66,090-
Total Liabilities$0$66,090▲ $66,090
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,933,231$4,826,044▼ $107,187
Net Assets With Donor Restrictions$310,975$328,024▲ $17,049
Total Net Assets Fund Balance$5,244,206$5,154,068▼ $90,138
Total Liabilities and Net Assets / Fund Balance$5,244,206$5,220,158▼ $24,048

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,796$769$4,283
Other Assets Org$65,085--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$5,973,655$100,000▲ $439,797-$5,895,651
2021$6,455,606$50,000--$5,973,655
2020$5,835,874$28,000▲ $1,137,347-$6,455,606
2019$5,900,645-▲ $445,929--
2018$5,910,145-▲ $472,525--
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
John J Partridge EsqChairman of the Board
Scott AvedisianVice Chairman
Jane LynchExecutive Director
Victor CapellanTrustee
Mark RussellSecretary
Amy VitaleTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$100,000
Program Service Revenue
$0
Investment Income
$417,847
Other Revenue
$21,950
All Other Contributions
$100,000
Change in Net Assets
$-78,004

Audited Revenue Reconciliation

Revenue per Audited Statements
$540,841
Revenue Not Reported on Financial Statements
$-1,044
Revenue Not Reported on Form 990
$-17,634
Other Revenue Adjustments
$-1,044
Total Revenue per Audited Statements
$523,207
Total Revenue per Form 990
$539,797
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$410,611
Salaries, Compensation, and Employee Benefits$137,411
Other Expenses$69,779
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$410,611--$410,611
Current Officers, Directors, Trustees, and Key Employees$62,164$15,541-$77,705
Other Salaries and Wages$39,670$9,917-$49,587
Fees for Service Investment Mgmnt Fees$19,358$4,840-$24,198
Occupancy$14,884$2,310-$17,194
Fees for Services Accounting-$10,745-$10,745
Payroll Taxes$9,163$956-$10,119
Information Technology$6,429$0-$6,429
Office Expenses$2,461$2,263-$4,724
Insurance-$2,450-$2,450
Other Expenses$1,543$1,005-$1,005
Depreciation Depletion$623$146-$769
Total Functional Expenses$566,906$50,895$0$617,801

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$617,801
Expenses per Audited Statements$613,345
Total Expenses per Audited Statements$613,345
Expenses Not Reported on Financial Statements$4,456
Other Expense Adjustments$4,456
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
State of Rhode IslandProvidence, RI--$410,611
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liability-long-term$51,034
Operating Lease Liability-current P$15,056
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 7A

“The trustees are appointed by the governor of the state of ri.”

Form 990, Page 6, Part VI, Line 11-description of Process for Review

“The trustees reviewed a draft of form 990 prior to filing.”

EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 12C

“The conflict of interest policy requires annual reporting and the information is provided to the trustees.”

FORM 990, PAGE 6, PART VI, LINE 15A

“The process for determining the salary of the executive director includes a review and approval during the budgeting process by the trustees who are independent persons familiar with comparable compensation information.”

Form 990, Page 6, Part VI, Line 19

“Documents are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Ocean State Charities Trust
EIN
05-0390916
Phone
4017289008
Address
ONE CITIZENS BANK WAY, JOHNSTON, RI 02919

Signing Officer

Name
Scott Avedisian
Title
Vice Chairman
Phone
4017289008
Signed
2023-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jane Lynch
Formed
1981
Legal Domicile
Ri
Voting Board Members
5
Independent Board Members
5
Employees
2

Preparer

Firm
Kpmg Llp
Address
ONE FINANCIAL PLAZA SUITE 2300, PROVIDENCE, RI 02903
Preparer
Bradley N Sprong
Phone
4012282600
Supplemental Narrative

Additional Explanations

Explanation for Form 990, Part XI, Line 9

“GRANT RECOVERIES $5,500”

Financial Statement Notes

Explanation for Schedule D, Part V, Line 4

“The endowment funds support the mission and program of the organization.”

EXPLANATION FOR SCHEDULE D, PART XI, LINE 4B

“LTCG RECLASSIFIED $1,044”

EXPLANATION FOR SCHEDULE D, PART XII, LINE 4B

“Grant recovery $5,500 and expense reimbursement $1,044”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/PYGrantsAndSimilarPaidAmt0333259
IRS990/PYInvestmentIncomeAmt0422156
IRS990/PYOtherExpensesAmt073577
IRS990/PYOtherRevenueAmt023837
IRS990/PYRevenuesLessExpensesAmt0-37832
IRS990/PYSalariesCompEmpBnftPaidAmt0126989
IRS990/PYTotalExpensesAmt0533825
IRS990/PYTotalRevenueAmt0495993
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-78004
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990ScheduleA/DistributableAmountGrp/CYAdjNetIncomeDistributableAmt00
IRS990ScheduleA/DistributableAmountGrp/CYDistributableAsAdjustedAmt00
IRS990ScheduleA/DistributableAmountGrp/CYGreaterAdjustedMinimumAmt00
IRS990ScheduleA/DistributableAmountGrp/CYIncomeTaxImposedPYAmt00
IRS990ScheduleA/DistributableAmountGrp/CYPct85AdjustedNetIncomeAmt00
IRS990ScheduleA/DistributableAmountGrp/CYTotalMinAstDistributableAmt00
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd0false
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd0false
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd0true
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0056000522
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd0true
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd06
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0410611
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0STATE OF RHODE ISLAND
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt0410611
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.93636
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt0207190
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt05973655
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0100000
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt05895651
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0410611
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0439797
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt0198692
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt06455606
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt050000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt05973655
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt0333259
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt0194167
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt05835874
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt028000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt06455606
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt0351448
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01137347
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt0192505
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt05900645
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt0318195
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0445929
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/AdministrativeExpensesAmt0189047
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt05910145
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt0292978
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0472525
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt04796
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0769
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt01282
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt04283
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt04456
IRS990ScheduleD/ExpensesSubtotalAmt0613345
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-17634
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01100
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt165085
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0SECURITY DEPOSIT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1OPERATING LEASE RIGHT-OF-USE ASSET
IRS990ScheduleD/OtherExpensesNotIncludedAmt04456
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt015056
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt151034
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OPERATING LEASE LIABILITY-CURRENT P
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1OPERATING LEASE LIABILITY-LONG-TERM
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-1044
IRS990ScheduleD/RevenueNotReportedAmt0-17634
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-1044
IRS990ScheduleD/RevenueSubtotalAmt0540841
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ENDOWMENT FUNDS SUPPORT THE MISSION AND PROGRAM OF THE ORGANIZATION.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1LTCG RECLASSIFIED $1,044
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2GRANT RECOVERY $5,500 AND EXPENSE REIMBURSEMENT $1,044
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0EXPLANATION FOR SCHEDULE D, PART V, LINE 4
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1EXPLANATION FOR SCHEDULE D, PART XI, LINE 4b
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2EXPLANATION FOR SCHEDULE D, PART XII, LINE 4b
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.06364
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04796
IRS990ScheduleD/TotalBookValueOtherAssetsAmt066185
IRS990ScheduleD/TotalExpensesPerForm990Amt0617801
IRS990ScheduleD/TotalLiabilityAmt066090
IRS990ScheduleD/TotalRevenuePerForm990Amt0539797
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0523207
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0613345
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt0410611
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0STATE OF RHODE ISLAND
IRS990ScheduleI/RecipientTable/RecipientEIN0056000522
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt086 WEYBOSSET STREET
IRS990ScheduleI/RecipientTable/USAddress/CityNm0PROVIDENCE
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0RI
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd0029032800
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0GRANTS ARE MADE ONLY TO ORGANIZATIONS THAT QUALIFY AS PUBLIC CHARITIES UNDER SECTIONS 501(C)(3) AND 509(A) AND APPLY FOR ASSISTANCE TO CARRY OUT A DESIGNATED PROGRAM OR ACTIVITY. THE PUBLIC CHARITY TO WHICH A GRANT IS MADE IS REQUIRED TO ACKNOWLEDGE THE RECEIPT OF THE GRANT AND TO REPORT UPON THE USE OF THE FUNDS. IN THE EVENT AN ORGANIZATION DOES NOT USE A GRANT FOR THE STATED PURPOSE, THE CHARITY IS REQUESTED TO RETURN THE FUNDS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0EXPLANATION FOR FORM 990, SCHEDULE I, PART 1, LINE 2
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TRUSTEES ARE APPOINTED BY THE GOVERNOR OF THE STATE OF RI.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE TRUSTEES REVIEWED A DRAFT OF FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CONFLICT OF INTEREST POLICY REQUIRES ANNUAL REPORTING AND THE INFORMATION IS PROVIDED TO THE TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PROCESS FOR DETERMINING THE SALARY OF THE EXECUTIVE DIRECTOR INCLUDES A REVIEW AND APPROVAL DURING THE BUDGETING PROCESS BY THE TRUSTEES WHO ARE INDEPENDENT PERSONS FAMILIAR WITH COMPARABLE COMPENSATION INFORMATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GRANT RECOVERIES $5,500
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11-DESCRIPTION OF PROCESS FOR REVIEW
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5EXPLANATION FOR FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0RI
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt05244206
IRS990/TotalAssetsEOYAmt05220158
IRS990/TotalAssetsGrp/BOYAmt05244206
IRS990/TotalAssetsGrp/EOYAmt05220158
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0100000
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt050895
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0566906

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,220,158
Liabilities
$66,090
Net assets
$5,154,068
Revenue
$539,797
Expenses
$617,801
Net income
-$78,004
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$5.30$0.05$5.26$0.33$0.51$0.18
2024Detailed filing. Detailed filing data is available for this year.$5.32$0.05$5.27$0.39$0.58$0.19
2023Detailed filing. Detailed filing data is available for this year.$5.22$0.07$5.15$0.54$0.62$0.08
2022Detailed filing. Detailed filing data is available for this year.$5.24$0.00$5.24$0.50$0.53$0.04
2021Detailed filing. Detailed filing data is available for this year.$6.46$0.00$6.46$0.62$0.55$0.08
2020Summary only. Only limited summary data is available for this year.$5.84$0.00$5.84$0.24$0.51$0.27
2019Summary only. Only limited summary data is available for this year.$5.90$0.00$5.90$0.30$0.48$0.18
2018Summary only. Only limited summary data is available for this year.$5.91$0.00$5.91$0.35$0.48$0.13
2017Summary only. Only limited summary data is available for this year.$6.02$0.00$6.02$0.48$0.48$0.01
2016Summary only. Only limited summary data is available for this year.$5.99$0.00$5.99$0.40$0.45$0.06
2015Summary only. Only limited summary data is available for this year.$6.14$0.00$6.14$0.48$0.43$0.05
2014Summary only. Only limited summary data is available for this year.$6.23$0.00$6.23$0.56$0.39$0.17
2013Summary only. Only limited summary data is available for this year.$5.75$0.00$5.75$0.58$0.42$0.15
2012Summary only. Only limited summary data is available for this year.$5.56$0.00$5.56$0.95$0.44$0.51
2011Summary only. Only limited summary data is available for this year.$5.65$0.00$5.65$0.22$0.40$0.18