Civic Intelligence

Oliver Hazard Perry Rhode Island Inc.

990 • Fiscal year 2014 • EIN 20-2574859

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 14, 2015

29 Touro StreetNewport, RI 02840

(401) 841-0080

Siviq Scores

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

Liabilities / Assets

55th percentile

0.30x

Higher debt load relative to assets than 55% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

70th percentile

0.59x

Higher debt load relative to revenue than 70% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Net Margin

97th percentile

78%

Higher net margin than 97% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

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

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Asset Growth

95th percentile

52%

Faster asset growth than 95% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

98th percentile

364%

Faster revenue growth than 98% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Assets

Up

$12,335,087

Up $4,202,349 (+52%) from 2013

Net Assets

Up

$8,662,617

Up $4,130,748 (+91%) from 2013

Liabilities

Up

$3,672,470

Up $71,601 (+2.0%) from 2013

Revenue

Up

$6,226,858

Up $4,885,554 (+364%) from 2013

Expenses

Up

$1,373,542

Up $616,719 (+81%) from 2013

Net Income

Up

$4,853,316

Up $4,268,835 (+730%) from 2013

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0-$5.0MAssets 2010: $1,012,667Liabilities 2010: $476,944Net Assets 2010: $535,7232010Assets 2011: $2,241,951Liabilities 2011: $710,840Net Assets 2011: $1,531,1112011Assets 2012: $4,844,690Liabilities 2012: $1,622,237Net Assets 2012: $3,222,4532012Assets 2013: $8,132,738Liabilities 2013: $3,600,869Net Assets 2013: $4,531,8692013Assets 2014: $12,335,087Liabilities 2014: $3,672,470Net Assets 2014: $8,662,6172014Assets 2015: $16,039,687Liabilities 2015: $3,785,168Net Assets 2015: $12,254,5192015Assets 2016: $14,440,000Liabilities 2016: $3,146,896Net Assets 2016: $11,293,1042016Assets 2017: $13,814,627Liabilities 2017: $4,481,295Net Assets 2017: $9,333,3322017Assets 2018: $11,875,076Liabilities 2018: $4,596,893Net Assets 2018: $7,278,1832018Assets 2019: $10,413,853Liabilities 2019: $4,819,553Net Assets 2019: $5,594,3002019Assets 2020: $9,128,606Liabilities 2020: $5,262,459Net Assets 2020: $3,866,1472020Assets 2021: $7,309,147Liabilities 2021: $5,205,384Net Assets 2021: $2,103,7632021Assets 2022: $5,725,815Liabilities 2022: $5,393,969Net Assets 2022: $331,8462022Assets 2023: $4,461,721Liabilities 2023: $5,694,248Net Assets 2023: -$1,232,5272023Assets 2024: $2,519,025Liabilities 2024: $1,666,929Net Assets 2024: $852,0962024

Highlighted filing

2014

Assets$12,335,087
Liabilities$3,672,470
Net Assets$8,662,617

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2010: $501,669Expenses 2010: $198,661Net Income 2010: $303,0082010Revenue 2011: $1,286,472Expenses 2011: $291,084Net Income 2011: $995,3882011Expenses 2012: $408,7582012Revenue 2013: $1,341,304Expenses 2013: $756,823Net Income 2013: $584,4812013Revenue 2014: $6,226,858Expenses 2014: $1,373,542Net Income 2014: $4,853,3162014Revenue 2015: $4,878,291Expenses 2015: $1,504,623Net Income 2015: $3,373,6682015Revenue 2016: $1,122,237Expenses 2016: $2,083,652Net Income 2016: -$961,4152016Revenue 2017: $1,423,355Expenses 2017: $3,383,127Net Income 2017: -$1,959,7722017Revenue 2018: $1,149,746Expenses 2018: $3,204,895Net Income 2018: -$2,055,1492018Revenue 2019: $764,054Expenses 2019: $2,447,937Net Income 2019: -$1,683,8832019Revenue 2020: $542,272Expenses 2020: $2,270,425Net Income 2020: -$1,728,1532020Revenue 2021: $778,183Expenses 2021: $2,540,567Net Income 2021: -$1,762,3842021Revenue 2022: $681,555Expenses 2022: $2,453,472Net Income 2022: -$1,771,9172022Revenue 2023: $849,543Expenses 2023: $2,446,859Net Income 2023: -$1,597,3162023Revenue 2024: $4,398,272Expenses 2024: $2,278,515Net Income 2024: $2,119,7572024

Highlighted filing

2014

Revenue$6,226,858
Expenses$1,373,542
Net Income$4,853,316
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 14, 2015
Return Version
2014v5.0
Gross Receipts
$6,322,744
Mission and Program Overview

Mission

The organization's mission is to provide education and adventure at sea

The organization's mission is to provide education and adventure at sea programs to youth and all ages while advancing Rhode Island's rich nautical heritage.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,831,953$11,610,358▲ $5,778,405
Pledges and Grants Receivable$729,488$499,073▼ $230,415
Loans From Officers Directors$200,000$150,000▼ $50,000
Cash and Non-Interest-Bearing Accounts$128,907$122,731▼ $6,176
Accounts Receivable-$88,058-
Prepaid Expenses and Deferred Charges-$9,796-
Savings and Temporary Cash Investments$40,973$3,391▼ $37,582
Inventories for Sale or Use$1,350$1,680▲ $330
Total Assets$8,132,738$12,335,087▲ $4,202,349
Other Assets Total$1,400,067--
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,023,000$2,482,261▼ $540,739
Accounts Payable and Accrued Expenses$372,409$655,297▲ $282,888
Deferred Revenue$5,460$384,912▲ $379,452
Total Liabilities$3,600,869$3,672,470▲ $71,601
Net Assets / Fund Balance
Unrestricted Net Assets$4,431,869$8,662,617▲ $4,230,748
Temporarily Rstr Net Assets$100,000--
Total Net Assets Fund Balance$4,531,869$8,662,617▲ $4,130,748
Total Liabilities and Net Assets / Fund Balance$8,132,738$12,335,087▲ $4,202,349

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$11,589,381-$11,589,381
Equipment$20,977$16,749$37,726
Compensation and Service Providers

Highest Paid Contractors

ContractorServicesLocationCompensation
NorEast Marine SystemsShip construction1 Adams Street, Fairhaven, MA 02719$1,034,937
Multi-State ElectricShip electrical system36 Oxford Street, Providence, RI 02905$752,959
Senesco MarineShip construction10 MacNaught Street, North Kingstown, RI 02852$617,358
Custom Ship InteriorsShip interior construction14538 Solomons Island Road, Solomons, MD 20688$294,693
Revenue and Support

Revenue Composition

Contributions and Grants
$6,077,923
Program Service Revenue
$96,414
Investment Income
$0
Other Revenue
$52,521
All Other Contributions
$6,025,672
Change in Net Assets
$4,853,316

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table12$101,775Fair Market Value from donor
Other Non Cash Contri Table4$66,173Fair Market Value from donor
Other Non Cash Contri Table14$18,208Fair Market Value from donor
Other Non Cash Contri Table3$4,995Fair Market Value from donor
Total Noncash Contributions33$191,151-

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,226,858
Total Revenue per Audited Statements
$6,226,858
Total Revenue per Form 990
$6,226,858
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,053,328
Salaries, Compensation, and Employee Benefits$320,214
Total Fundraising Expense$131,941
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$432,362$15,567$9,000$456,929
Other Salaries and Wages$113,831$10,652$47,628$172,111
Interest$0$124,114$0$124,114
Current Officers, Directors, Trustees, and Key Employees$99,770$9,293$6,638$115,701
Office Expenses$31,611$14,246$3,511$49,368
Occupancy$32,093$8,914$3,566$44,573
Payroll Taxes$23,650$3,397$1,358$28,405
Advertising$14,980$4,162$1,664$20,806
Depreciation Depletion$4,408$812$580$5,800
Travel$4,541$866$347$5,754
Other Employee Benefits$2,926$765$306$3,997
Conferences and Meetings$2,390$664$266$3,320
Information Technology$2,068$574$230$2,872
Other Expenses$871$242$97$1,210
Total Functional Expenses$1,047,020$194,581$131,941$1,373,542

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,373,542
Total Expenses per Audited Statements$1,373,542
Total Expenses per Form 990$1,373,542
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$147,609
Fundraising Direct Expenses$95,243
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Gala$199,860$147,609$11,997$135,612
Total Events$199,860$147,609$95,243$52,366
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Michael DuttonBoard MemberBookeepingNo$43,035
Betarice WadsonBoard MemberGrapic desingNo$5,748
Kathy VespaWife of owner is a board memberConsultingNo$4,950
-Board MemberConsultingNo$540

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$200,000$150,000▼ $50,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Uncertain tax liability-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
Yes
Business relationship with organization members
Yes
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
Filing and Contact Details

Filer

Filer Name
Oliver Hazard Perry Rhode Island Inc
EIN
20-2574859
Phone
4018410080
Address
29 Touro Street, Newport, RI 02840

Signing Officer

Name
Bartlett Dunbar
Title
Board Chair
Phone
4018410080
Signed
2015-11-14
Discuss with paid preparer
Yes

Organization Details

Formed
2007
Legal Domicile
Ri
Voting Board Members
27
Independent Board Members
27
Employees
16
Volunteers
0

Preparer

Firm
Aaronson Lavoie Streitfeld Diaz & Co Pc
Address
1604 BROAD ST, CRANSTON, RI 02905-4130
Preparer
Denise M Lavoie CPA
Phone
4012230205
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

The board of directors reviews and apporves the form

Pt VI, Line 11B

990 prior to filing.

Pt VI, Line 12C

All officers and directors must disclose any actual

Pt VI, Line 12C

or potential conflict of interest annually for

Pt VI, Line 12C

board disposition.

Pt VI, Line 15A

The Executive Directors compensation is set by the

Pt VI, Line 15A

board of directors annaully

Pt VI, Line 15B

Compensation of employees is determined by the board

Pt VI, Line 15B

annualy

Pt VI, Line 18

Public inspection of the Organization's form 1023

Pt VI, Line 18

and 990 are available to the public upon request to

Pt VI, Line 18

the Executive Director

Pt VI, Line 19

Public inspection of the Organization's governing

Pt VI, Line 19

documents, conflict of interest policy and financial

Pt VI, Line 19

statements are available to the public upon request to

Pt VI, Line 19

the Organization's Executive Director.

Form 990, Part IX, Line 24F

Food 15324. 15324. 0. 0. Fule and oil 13552. 13552. 0. 0. Insurance 116551. 113973. 1841. 737. Inspections 1809. 1809. 0. 0. Professional fees 67648. 48706. 13530. 5412. Program supplies 17261. 17261. 0. 0. Equipment rental 42018. 42018. 0. 0. Towing and dry dock 176522. 176522. 0. 0. Professional development 930. 670. 186. 74. Miscellaneous 5314. 2527. 10. 2777.

Financial Statement Notes

Pt X, Line 2

OHPRI is exempt from federal income tax under

Pt X, Line 2

Section 501(c)(3) of the Internal Revenue Code and

Pt X, Line 2

applicable state law. The accounting standard on

Pt X, Line 2

accounting for uncertainty in income taxes addresses

Other

the determination of whether tax benefits claimed or

Pt X, Line 2

expected to be claimed on a tax return should be

Pt X, Line 2

recorded in the financial statements. Under this

Pt X, Line 2

guidance, OHPRI may recognize the benefit from an

Pt X, Line 2

uncertain tax position only if it is more likely than

Pt X, Line 2

not the tax position will be sustained on examination by

Pt X, Line 2

taxing authorities, based on the technical merits of

Pt X, Line 2

position. Examples of tax positions include the tax-

Pt X, Line 2

exempt status of OHPRI and variouus positions related

Pt X, Line 2

to the potential sources of unrelated business taxable

Pt X, Line 2

income(UBIT). The tax benefits recognized in the

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IRS990/MembersOrStockholdersInd0false
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.52$1.67$0.85$4.40$2.28$2.12
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.46$5.69$1.23$0.85$2.45$1.60
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.73$5.39$0.33$0.68$2.45$1.77
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.31$5.21$2.10$0.78$2.54$1.76
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.13$5.26$3.87$0.54$2.27$1.73
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.4$4.82$5.59$0.76$2.45$1.68
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.9$4.60$7.28$1.15$3.20$2.06
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.8$4.48$9.33$1.42$3.38$1.96
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.4$3.15$11.3$1.12$2.08$0.96
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.0$3.79$12.3$4.88$1.50$3.37
2014Detailed filing. Detailed filing data is available for this year.$12.3$3.67$8.66$6.23$1.37$4.85
2013Detailed filing. Detailed filing data is available for this year.$8.13$3.60$4.53$1.34$0.76$0.58
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.84$1.62$3.22$0.41
2011Summary only. Only limited summary data is available for this year.$2.24$0.71$1.53$1.29$0.29$1.00
2010Summary only. Only limited summary data is available for this year.$1.01$0.48$0.54$0.50$0.20$0.30
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2014 filings • 501(c)3 • $10M-$25M nonprofits