Liabilities / Assets
13th percentile
Higher debt load relative to assets than 13% of similar nonprofits.
Slater Technology Fund Inc.
990 • Fiscal year 2024 • EIN 06-1493673
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.01x
Liabilities / Revenue
16th percentile
Higher debt load relative to revenue than 16% of similar nonprofits.
Net Margin
12th percentile
Higher net margin than 12% of similar nonprofits.
Top Officer Pay
84th percentile
Higher top officer pay than 84% of similar nonprofits.
Top officer pay equals 15.6% of source-year revenue.
Asset Growth
42nd percentile
Faster asset growth than 42% of similar nonprofits.
Revenue Growth
95th percentile
Faster revenue growth than 95% of similar nonprofits.
Balance Sheet
Assets
Up$14,619,182
Up $388,010 (+2.7%) from 2023
Net Assets
Up$14,533,332
Up $445,309 (+3.2%) from 2023
Liabilities
Down$85,850
Down $57,299 (-40%) from 2023
Revenue And Expenses
Revenue
Up$2,355,091
Up $1,537,046 (+188%) from 2023
Expenses
Up$2,803,110
Up $428,534 (+18%) from 2023
Net Income
Up-$448,019
Up $1,108,512 (+71%) from 2023
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2023 to Jun 30, 2024
- Signed
- May 14, 2025
- Return Version
- 2023v6.0
- Gross Receipts
- $3,685,158
Mission and Program Overview
Mission
To promote scientific research and development in the areas of biomedical and informational technologies in the state of rhode island; and to support job creation and other economic activity in rhode island based on such technologies. Small businesses planning to form such businesses, are eligible to apply for grant, equity, and loan awards from the fund.
To promote scientific research and development in the areas of biomedical and informational technologies in the state of rhode island; and to support job creation and other economic activity in rhode island based on such technologies. Small businesses in the state of rhode island, or individuals planning to form such businesses, are eligible to apply for grant, equity, and loan awards from the fund.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Investments in Publicly Traded Securities | $6,935,363 | $6,674,114 | ▼ $261,249 |
| Investments Program Related | $5,517,203 | $6,073,052 | ▲ $555,849 |
| Other Notes and Loans Receivable, Net | $1,088,701 | $1,426,630 | ▲ $337,929 |
| Accounts Receivable | $319,276 | $150,000 | ▼ $169,276 |
| Savings and Temporary Cash Investments | $324,310 | $135,381 | ▼ $188,929 |
| Prepaid Expenses and Deferred Charges | $32,739 | $41,669 | ▲ $8,930 |
| Cash and Non-Interest-Bearing Accounts | $13,580 | $28,606 | ▲ $15,026 |
| Land, Buildings, and Equipment, Net | $0 | $0 | → $0 |
| Total Assets | $14,231,172 | $14,619,182 | ▲ $388,010 |
| Other Assets Total | $0 | $89,730 | ▲ $89,730 |
| Liabilities | |||
| Accounts Payable and Accrued Expenses | $143,149 | $85,850 | ▼ $57,299 |
| Total Liabilities | $143,149 | $85,850 | ▼ $57,299 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $14,088,023 | $13,703,331 | ▼ $384,692 |
| Net Assets With Donor Restrictions | - | $830,001 | - |
| Total Net Assets Fund Balance | $14,088,023 | $14,533,332 | ▲ $445,309 |
| Total Liabilities and Net Assets / Fund Balance | $14,231,172 | $14,619,182 | ▲ $388,010 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $0 | $3,856 | $3,856 |
| Investment Program Related Org | $-5,622,866 | - | - |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Thorne Sparkman Iii | President/managing Director | FT | $271,201 | $95,116 | $366,317 |
| Robert Chatham | Vice President (as of 12/24) | FT | $192,994 | $43,527 | $236,521 |
Board Members and Trustees
| Name | Title |
|---|---|
| Larry Larson | Chairman |
| Alden Anderson Jr | Director |
| Christopher Graham Esq | Director |
| Donald L Stanford | Director |
| Jayne M Donegan Esq | Director |
| Nancy Gray | Director |
| Robert J Maccini | Director |
| Dennis J Duffy Esq | Director (to 06/24) |
| Patrice Milos Phd | Director (to 06/24) |
| Christopher Mulvaney | CFO |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $1,826,168
- Program Service Revenue
- $397,710
- Investment Income
- $203,730
- Other Revenue
- $-72,517
- Change in Net Assets
- $-448,019
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $2,322,133
- Revenue Not Reported on Financial Statements
- $32,958
- Revenue Not Reported on Form 990
- $1,055,698
- Total Revenue per Audited Statements
- $3,377,831
- Total Revenue per Form 990
- $2,355,091
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $2,122,562 |
| Salaries, Compensation, and Employee Benefits | $680,548 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Current Officers, Directors, Trustees, and Key Employees | $404,057 | $141,966 | - | $546,023 |
| Fees for Services Other | $290,317 | - | - | $290,317 |
| Other Salaries and Wages | $63,202 | $19,363 | - | $82,565 |
| Fees for Services Accounting | $72,925 | - | - | $72,925 |
| Information Technology | $70,265 | - | - | $70,265 |
| Fees for Services Legal | $51,530 | - | - | $51,530 |
| Occupancy | $40,306 | $7,106 | - | $47,412 |
| Insurance | $11,673 | $25,585 | - | $37,258 |
| Payroll Taxes | $26,774 | $9,220 | - | $35,994 |
| Fees for Service Investment Mgmnt Fees | - | $32,466 | - | $32,466 |
| Travel | $15,307 | $15,549 | - | $30,856 |
| Other Employee Benefits | $9,655 | $2,982 | - | $12,637 |
| Advertising | $11,735 | - | - | $11,735 |
| Office Expenses | $9,621 | $1,417 | - | $11,038 |
| Other Expenses | $7,727 | $11,535 | - | $7,727 |
| Pension Plan Contributions | $2,529 | $800 | - | $3,329 |
| All Other Expenses | $67 | $492 | - | $559 |
| Total Functional Expenses | $2,534,629 | $268,481 | $0 | $2,803,110 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Audited Statements | $2,932,522 |
| Total Expenses per Form 990 | $2,803,110 |
| Expenses per Audited Statements | $2,770,152 |
| Expenses Not Reported on Form 990 | $162,370 |
| Expenses Not Reported on Financial Statements | $32,958 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Insider Transactions and Loans
Interested-Person Transactions
| Interested Party | Relationship | Description | Shared Revenue | Amount |
|---|---|---|---|---|
| Thorne Sparkman Iii | President | Individual Serves as Director of a Loan/equity Recipient Company. | No | $17,349 |
| Christopher Mulvaney | CFO | Owner of Mtas Mulvaney Tax and Advisory Services | No | - |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- Yes
- Business relationship with 35% controlled entity
- Yes
- 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
- Yes
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- No
- Key decisions subject to board approval
- No
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Section B, Line 11B
“The form 990 is prepared by the external auditors and reviewed by management. Once all are satisfied with the form, it is finalized and the form is submitted to the irs.”
Form 990, Part VI, Section B, Line 12C
“At any board, board committee, or advisory board meeting at which discussion or voting occurs with respect to a company in which a covered person has the potential to derive a financial benefit, the covered person shall announce in advance that he or she has a potential conflict and shall recuse himself or herself from participating in such vote. The minutes of such meetings shall note that such covered person recused himself or herself. In addition, each covered person shall make a written disclosure once each year during the month of july, listing all potential conflicts with respect to any company already funded or assisted by the slater technology fund and state any forthcoming potential conflicts that may arise. Such disclosure statements shall be delivered to the corporation within 30 days of receipt of the request for disclosure. The corporation shall maintain such disclosure forms with the corporate records.”
Form 990, Part VI, Section B, Line 15
“Annually the board of directors may conduct a performance review and evaluation of the president for the purpose of adjusting the salary going forward. This process involves the evaluation of the individual and a review of compensation of comparable positions obtained from compensation surveys. In addition, the executive committee of the board reviews and approves any calculations for compensation required by existing employment agreements.”
Form 990, Part VI, Section C, Line 19
“Slater technology fund, inc. Makes its governing documents, conflict of interest policy, and financial statements available in paper form at its offices during regular business hours.”
Filing and Contact Details
Filer
- Filer Name
- Slater Technology Fund Inc
- EIN
- 06-1493673
- Phone
- 4018316633
- Address
- PO BOX 9142, PROVIDENCE, RI 02940
Signing Officer
- Name
- Thorne Sparkman Iii
- Title
- President
- Phone
- 4018316633
- Signed
- 2025-05-14
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Thorne Sparkman Iii
- Formed
- 1997
- Legal Domicile
- Ri
- Voting Board Members
- 7
- Independent Board Members
- 7
- Employees
- 3
- Volunteers
- 9
Preparer
- Firm
- Kahn Litwin Renza & Co Ltd
- Address
- 951 NORTH MAIN STREET, PROVIDENCE, RI 02904
- Preparer
- Patrick J Martin
- Phone
- 4012742001
Supplemental Narrative
Additional Explanations
Form 990, Part IX, Line 11G
“Payroll service: program service expenses 2,220. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,220. Consulting: program service expenses 288,097. Management and general expenses 0. Fundraising expenses 0. Total expenses 288,097.”
FORM 990, PART XII LINE 2C:
“The organization did not chnage either its oversight process or selection process during the tax year.”
Financial Statement Notes
PART X, LINE 2:
“The organization is a not-for-profit charitable organization exempt from federal income taxes as a public charity under section 501(c)(3) of the internal revenue code. Management believes that the organization operates in a manner consistent with its tax-exempt status at both the federal and state levels. The organization annually files irs form 990, return of organization exempt from income tax, reporting various information that the irs uses to monitor the activities of tax-exempt entities. These tax returns are subject to review by the taxing authorities, generally for three years after they were filed. There are no tax examinations in progress.”
PART XI, LINE 2D - OTHER ADJUSTMENTS:
“Loan impairment reserve 89,853. Write off of technology development investment 25,668. Write off of technology development loan receivable 46,849.”
PART XII, LINE 2D - OTHER ADJUSTMENTS:
“Loan impairment reserve 89,853. Write off of technology development investment 25,668. Write off of technology development loan receivable 46,849.”
Raw XML AppendixShowing 400 of 627 raw XML fields
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/AccountsReceivableGrp/EOYAmt | 0 | 150000 |
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| IRS990/ActivityOrMissionDesc | 0 | TO PROMOTE SCIENTIFIC RESEARCH AND DEVELOPMENT IN THE AREAS OF BIOMEDICAL AND INFORMATIONAL TECHNOLOGIES IN THE STATE OF RHODE ISLAND; AND TO SUPPORT JOB CREATION AND OTHER ECONOMIC ACTIVITY IN RHODE ISLAND BASED ON SUCH TECHNOLOGIES. SMALL BUSINESSES IN THE STATE OF RHODE ISLAND, OR INDIVIDUALS PLANNING TO FORM SUCH BUSINESSES, ARE ELIGIBLE TO APPLY FOR GRANT, EQUITY, AND LOAN AWARDS FROM THE FUND. |
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| IRS990/Desc | 0 | TECHNOLOGY DEVELOPMENT LOANS - AWARDED LOANS TO SIX (6) R.I. COMPANIES IN ORDER TO PROMOTE SCIENTIFIC RESEARCH AND DEVELOPMENT IN THE BIOMEDICAL TECHNOLOGY, INFORMATION TECHNOLOGY, AND ENERGY INDUSTRIES. |
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| IRS990/GamingActivitiesInd | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 7 |
| IRS990/GovernmentGrantsAmt | 0 | 1826168 |
| IRS990/GrantsToIndividualsInd | 0 | 0 |
| IRS990/GrantsToOrganizationsInd | 0 | 0 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt | 0 | 1300000 |
| IRS990/GrossReceiptsAmt | 0 | 3685158 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 1 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 1 |
| IRS990/IndependentVotingMemberCnt | 0 | 7 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 2 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990/InfoInScheduleOPartIXInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIIInd | 0 | X |
| IRS990/InformationTechnologyGrp/ProgramServicesAmt | 0 | 70265 |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 70265 |
| IRS990/InsuranceGrp/ManagementAndGeneralAmt | 0 | 25585 |
| IRS990/InsuranceGrp/ProgramServicesAmt | 0 | 11673 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 37258 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 233797 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 233797 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/InvestmentsProgramRelatedGrp/BOYAmt | 0 | 5517203 |
| IRS990/InvestmentsProgramRelatedGrp/EOYAmt | 0 | 6073052 |
| IRS990/InvestmentsPubTradedSecGrp/BOYAmt | 0 | 6935363 |
| IRS990/InvestmentsPubTradedSecGrp/EOYAmt | 0 | 6674114 |
| IRS990/IRPDocumentCnt | 0 | 13 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 3856 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 0 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 0 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 3856 |
| IRS990/LegalDomicileStateCd | 0 | RI |
| IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt | 0 | 1330067 |
| IRS990/LoanOutstandingInd | 0 | 0 |
| IRS990/LobbyingActivitiesInd | 0 | 0 |
| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 0 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 1 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | TO PROMOTE SCIENTIFIC RESEARCH AND DEVELOPMENT IN THE AREAS OF BIOMEDICAL AND INFORMATIONAL TECHNOLOGIES IN THE STATE OF RHODE ISLAND; AND TO SUPPORT JOB CREATION AND OTHER ECONOMIC ACTIVITY IN RHODE ISLAND BASED ON SUCH TECHNOLOGIES. SMALL BUSINESSES PLANNING TO FORM SUCH BUSINESSES, ARE ELIGIBLE TO APPLY FOR GRANT, EQUITY, AND LOAN AWARDS FROM THE FUND. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 14088023 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 14533332 |
| IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt | 0 | -30067 |
| IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt | 0 | -30067 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NetUnrlzdGainsLossesInvstAmt | 0 | 893328 |
| IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt | 0 | 14088023 |
| IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt | 0 | 13703331 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/ManagementAndGeneralAmt | 0 | 7106 |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 40306 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 47412 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 1417 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 9621 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 11038 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsFASB117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 0 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 89730 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 2982 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 9655 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 12637 |
| IRS990/OtherExpensesGrp/Desc | 0 | INVESTMENT IMPAIRMENT E |
| IRS990/OtherExpensesGrp/Desc | 1 | LOAN IMPAIRMENT EXPENSE |
| IRS990/OtherExpensesGrp/Desc | 2 | BAD DEBT EXPENSE |
| IRS990/OtherExpensesGrp/Desc | 3 | DUES, PUBLICATIONS AND |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 11535 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 1009396 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 437543 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 7727 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 1009396 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 437543 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 11535 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 7727 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 0 | 900099 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | GAIN - INVESTMENT DISS |
| IRS990/OtherRevenueMiscGrp/ExclusionAmt | 0 | -72517 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | -72517 |
| IRS990/OtherRevenueTotalAmt | 0 | -72517 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 19363 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 63202 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 82565 |
| IRS990/OthNotesLoansReceivableNetGrp/BOYAmt | 0 | 1088701 |
| IRS990/OthNotesLoansReceivableNetGrp/EOYAmt | 0 | 1426630 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 9220 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 26774 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 35994 |
| IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt | 0 | 800 |
| IRS990/PensionPlanContributionsGrp/ProgramServicesAmt | 0 | 2529 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 3329 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 32739 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 41669 |
| IRS990/PrincipalOfficerNm | 0 | THORNE SPARKMAN III |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 900099 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 1 | 900099 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | DIVS - INV IN QUAL ENT |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | INT - TECH DEV LOANS |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 220384 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 177326 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 220384 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 177326 |
| IRS990/ProgSrvcAccomActy2Grp/Desc | 0 | VENTURE SUPPORT - PROVIDED TECHNICAL, BUSINESS DEVELOPMENT ASSISTANCE, AND PUBLIC RELATIONS TO OVER SIXTY (60) QUALIFYING ENTITIES. |
| IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt | 0 | 1087690 |
| IRS990/ProgSrvcAccomActy3Grp/Desc | 0 | EQUITY INVESTMENTS IN QUALIFIED COMPANIES - INVESTED IN THREE (3) R.I. QUALIFIED COMPANIES IN ORDER TO PROVIDE THEM WITH THE CAPITAL INFUSION NECESSARY TO INTRODUCE PRODUCTS IN RHODE ISLAND. |
| IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt | 0 | 1009396 |
| IRS990/ProgSrvcAccomActy3Grp/RevenueAmt | 0 | 220384 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 333450 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | 125248 |
| IRS990/PYOtherExpensesAmt | 0 | 1604153 |
| IRS990/PYOtherRevenueAmt | 0 | 9409 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 349938 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | -1556531 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 770423 |
| IRS990/PYTotalExpensesAmt | 0 | 2374576 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 818045 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | -448019 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 1 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 1 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 0 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 0 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 1 |
| IRS990/RevenueAmt | 0 | 177326 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 324310 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 135381 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt | 0 | 1826168 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt | 0 | 333450 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 131059 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 490438 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 575000 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt | 0 | 3356115 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt | 0 | 233797 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt | 0 | 125248 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 6777 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 13944 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 510 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt | 0 | 380276 |
| IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt | 0 | 2281865 |
| IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 230287 |
| IRS990ScheduleA/OtherIncome170Grp/TotalAmt | 0 | 230287 |
| IRS990ScheduleA/PublicOrganization170Ind | 0 | X |
| IRS990ScheduleA/PublicSupportCY170Pct | 0 | 0.84610 |
| IRS990ScheduleA/PublicSupportPY170Pct | 0 | 0.58070 |
| IRS990ScheduleA/PublicSupportTotal170Amt | 0 | 3356115 |
| IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind | 0 | X |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt | 0 | 1826168 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt | 0 | 333450 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 131059 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 490438 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 575000 |
| IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt | 0 | 3356115 |
| IRS990ScheduleA/TotalSupportAmt | 0 | 3966678 |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990/ScheduleBRequiredInd | 0 | 1 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 0 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 3856 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 3856 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 162370 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 32958 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 2770152 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/InvestmentExpensesNotIncld2Amt | 0 | 32958 |
| IRS990ScheduleD/InvestmentExpensesNotIncldAmt | 0 | 32958 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt | 0 | 9600318 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt | 1 | 2095600 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt | 2 | -5622866 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc | 0 | EQUITY INVESTMENTS IN QUALIFIED COMPANIES |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc | 1 | EQUITY INVESTMENTS IN DIVIDENDS RECEIVABLE |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc | 2 | LESS INVESTMENTS IMPAIRMENT RESERVE |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd | 0 | C |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd | 1 | C |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd | 2 | C |
| IRS990ScheduleD/NetUnrealizedGainsInvstAmt | 0 | 893328 |
| IRS990ScheduleD/OtherExpensesIncludedAmt | 0 | 162370 |
| IRS990ScheduleD/OtherRevenueAmt | 0 | 162370 |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 1055698 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 32958 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 2322133 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | THE ORGANIZATION IS A NOT-FOR-PROFIT CHARITABLE ORGANIZATION EXEMPT FROM FEDERAL INCOME TAXES AS A PUBLIC CHARITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. MANAGEMENT BELIEVES THAT THE ORGANIZATION OPERATES IN A MANNER CONSISTENT WITH ITS TAX-EXEMPT STATUS AT BOTH THE FEDERAL AND STATE LEVELS. THE ORGANIZATION ANNUALLY FILES IRS FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, REPORTING VARIOUS INFORMATION THAT THE IRS USES TO MONITOR THE ACTIVITIES OF TAX-EXEMPT ENTITIES. THESE TAX RETURNS ARE SUBJECT TO REVIEW BY THE TAXING AUTHORITIES, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. THERE ARE NO TAX EXAMINATIONS IN PROGRESS. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | LOAN IMPAIRMENT RESERVE 89,853. WRITE OFF OF TECHNOLOGY DEVELOPMENT INVESTMENT 25,668. WRITE OFF OF TECHNOLOGY DEVELOPMENT LOAN RECEIVABLE 46,849. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 2 | LOAN IMPAIRMENT RESERVE 89,853. WRITE OFF OF TECHNOLOGY DEVELOPMENT INVESTMENT 25,668. WRITE OFF OF TECHNOLOGY DEVELOPMENT LOAN RECEIVABLE 46,849. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART X, LINE 2: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | PART XI, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | PART XII, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 0 |
| IRS990ScheduleD/TotalBookValueProgramRltdAmt | 0 | 6073052 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 2803110 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 2355091 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 3377831 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 2932522 |
| IRS990ScheduleJ/AnyNonFixedPaymentsInd | 0 | 0 |
| IRS990ScheduleJ/BoardOrCommitteeApprovalInd | 0 | X |
| IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd | 0 | 0 |
| IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd | 0 | 0 |
| IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd | 0 | 0 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2024 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $14,619,182
- Liabilities
- $85,850
- Net assets
- $14,533,332
- Revenue
- $2,355,091
- Expenses
- $2,803,110
- Net income
- -$448,019