Civic Intelligence

Independence Square Foundation

990 • Fiscal year 2022 • EIN 22-2527265

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 06, 2023

Organization ProfileWWW.ISFNE.ORG

View Organization Page

500 Prospect StreetPawtucket, RI 02860

(401) 782-0450

Siviq Scores

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

Liabilities / Assets

86th percentile

0.66x

Higher debt load relative to assets than 86% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

93rd percentile

3.37x

Higher debt load relative to revenue than 93% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

25th percentile

-3.8%

Higher net margin than 25% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

73rd percentile

$185,611

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 10.4% of source-year revenue.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

37th percentile

-2.9%

Faster asset growth than 37% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

14th percentile

-28%

Faster revenue growth than 14% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets86th percentile

Assets

Down

$9,128,284

Down $267,937 (-2.9%) from 2021

Net Assets

Down

$3,077,014

Down $67,317 (-2.1%) from 2021

Liabilities

Down

$6,051,270

Down $200,620 (-3.2%) from 2021

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin25th percentile

Revenue

Down

$1,793,257

Down $712,743 (-28%) from 2021

Expenses

Up

$1,860,574

Up $20,582 (+1.1%) from 2021

Net Income

Down

-$67,317

Down $733,325 (-110%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth37th percentile

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

$15M$10M$5.0M$0Assets 2010: $11,582,012Liabilities 2010: $8,397,056Net Assets 2010: $3,184,9562010Assets 2011: $11,189,218Liabilities 2011: $8,228,206Net Assets 2011: $2,961,0122011Assets 2012: $10,805,587Liabilities 2012: $8,002,810Net Assets 2012: $2,802,7772012Assets 2013: $10,412,677Liabilities 2013: $7,645,970Net Assets 2013: $2,766,7072013Assets 2014: $10,115,023Liabilities 2014: $7,377,884Net Assets 2014: $2,737,1392014Assets 2015: $9,668,085Liabilities 2015: $6,953,556Net Assets 2015: $2,714,5292015Assets 2016: $9,303,941Liabilities 2016: $6,579,296Net Assets 2016: $2,724,6452016Assets 2017: $8,934,894Liabilities 2017: $6,340,605Net Assets 2017: $2,594,2892017Assets 2018: $8,671,844Liabilities 2018: $6,109,961Net Assets 2018: $2,561,8832018Assets 2019: $8,324,273Liabilities 2019: $5,859,771Net Assets 2019: $2,464,5022019Assets 2020: $8,935,644Liabilities 2020: $6,457,321Net Assets 2020: $2,478,3232020Assets 2021: $9,396,221Liabilities 2021: $6,251,890Net Assets 2021: $3,144,3312021Assets 2022: $9,128,284Liabilities 2022: $6,051,270Net Assets 2022: $3,077,0142022Assets 2023: $9,231,337Liabilities 2023: $6,308,559Net Assets 2023: $2,922,7782023Assets 2024: $8,792,214Liabilities 2024: $6,186,055Net Assets 2024: $2,606,1592024

Highlighted filing

2022

Assets$9,128,284
Liabilities$6,051,270
Net Assets$3,077,014
Open 2022 Filing

Operations Trend

Revenue Growth14th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,765,6402010Expenses 2011: $1,779,1632011Expenses 2012: $1,728,1802012Revenue 2013: $1,597,255Expenses 2013: $1,633,325Net Income 2013: -$36,0702013Revenue 2014: $1,596,185Expenses 2014: $1,625,753Net Income 2014: -$29,5682014Revenue 2015: $1,670,310Expenses 2015: $1,692,920Net Income 2015: -$22,6102015Revenue 2016: $1,573,203Expenses 2016: $1,563,087Net Income 2016: $10,1162016Revenue 2017: $1,602,133Expenses 2017: $1,676,241Net Income 2017: -$74,1082017Revenue 2018: $1,644,937Expenses 2018: $1,729,993Net Income 2018: -$85,0562018Revenue 2019: $1,667,167Expenses 2019: $1,746,548Net Income 2019: -$79,3812019Revenue 2020: $1,742,746Expenses 2020: $1,728,925Net Income 2020: $13,8212020Revenue 2021: $2,506,000Expenses 2021: $1,839,992Net Income 2021: $666,0082021Revenue 2022: $1,793,257Expenses 2022: $1,860,574Net Income 2022: -$67,3172022Revenue 2023: $1,834,921Expenses 2023: $2,008,244Net Income 2023: -$173,3232023Revenue 2024: $1,755,740Expenses 2024: $2,095,036Net Income 2024: -$339,2962024

Highlighted filing

2022

Revenue$1,793,257
Expenses$1,860,574
Net Income-$67,317
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 6, 2023
Return Version
2022v5.0
Gross Receipts
$1,793,257
Mission and Program Overview

Mission

SEE PART I, LINE 1

Independence square foundation, inc. Is a non-profit management organization dedicated to providing non-profit care-giver organizations with the kind of first class work environments and facilities that they deserve but may not be able to afford on their own.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,711,512$7,576,527▼ $134,985
Investments Other Securities$310,355$294,717▼ $15,638
Accounts Receivable$151,119$266,105▲ $114,986
Cash and Non-Interest-Bearing Accounts$332,971$189,294▼ $143,677
Prepaid Expenses and Deferred Charges$5,816$3,717▼ $2,099
Intangible Assets$0$0→ $0
Total Assets$9,396,221$9,128,284▼ $267,937
Other Assets Total$884,448$797,924▼ $86,524
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,031,800$5,852,657▼ $179,143
Accounts Payable and Accrued Expenses$202,531$184,312▼ $18,219
Other Liabilities$17,559$14,301▼ $3,258
Total Liabilities$6,251,890$6,051,270▼ $200,620
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,144,331$3,077,014▼ $67,317
Total Net Assets Fund Balance$3,144,331$3,077,014▼ $67,317
Total Liabilities and Net Assets / Fund Balance$9,396,221$9,128,284▼ $267,937

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$6,065,123$3,946,749$10,011,872
Buildings$959,643$3,717,616$4,677,259
Land$325,000-$325,000
Equipment$226,761$95,347$322,108
Other Land Buildings$0$67,906$67,906
Other Assets Org$797,924--
Compensation and Service Providers
Top Officer Pay73rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
John J Padien IiiExecutive DirectorPT$185,611$185,611

Board Members and Trustees

NameTitle
William J SzafarowickzPresident
Michael R BenoitDirector
Paul M DepaceDirector
Thomas E HodgeDirector
Henrique T PedroSecretary
Mark SaccoccioTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,803,914
Investment Income
$15,704
Other Revenue
$-26,361
Change in Net Assets
$-67,317
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,463,943
Salaries, Compensation, and Employee Benefits$396,631
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$891,035$3,772-$894,807
Depreciation Depletion$382,382$2,646-$385,028
Current Officers, Directors, Trustees, and Key Employees-$185,611-$185,611
Other Salaries and Wages$22,179$146,543-$168,722
Insurance$61,986$3,534-$65,520
Payroll Taxes$1,683$27,360-$29,043
Fees for Services Other-$22,228-$22,228
Travel-$13,999-$13,999
Pension Plan Contributions-$12,648-$12,648
Office Expenses$10,908--$10,908
Fees for Services Legal-$8,475-$8,475
Other Expenses$5,324$4,283-$5,324
All Other Expenses$4,818--$4,818
Fees for Service Investment Mgmnt Fees-$1,342-$1,342
Other Employee Benefits-$607-$607
Total Functional Expenses$1,403,265$457,309$0$1,860,574
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
TENANTS' DEPOSITS AND PREPAID RENT$14,301
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
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

Form 990, Part VI, Section A, Line 8B

“The board does not have formal committees.”

Form 990, Part VI, Section B, Line 11B

“The form 990 will be presented to the board of directors for review. Once reviewed the board will take appropriate action based on that review.”

Form 990, Part VI, Section B, Line 12C

“Any duality of interest or possible conflict of interest on the part of any director, officer, or agent of the organization shall be disclosed to the board of directors and made a matter of record through an annual procedure and when the interest becomes a matter of board action, such disclosure shall be reflected in the record of the proceedings of the board of directors.”

Form 990, Part VI, Section B, Line 15A

“Discussed, reviewed, and approved at a board meeting.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents are available on guidestar.”

Filing and Contact Details

Filer

Filer Name
Independence Square Foundation
EIN
22-2527265
Phone
4017820450
Address
500 PROSPECT STREET, PAWTUCKET, RI 02860

Signing Officer

Name
John J Padien Iii
Title
Executive Director
Phone
4017229540
Signed
2023-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John J Padien Iii
Formed
1984
Legal Domicile
Ri
Voting Board Members
6
Independent Board Members
5
Employees
10
Volunteers
0

Preparer

Firm
Otrando Porcaro & Associates Ltd
Address
2258 POST ROAD, WARWICK, RI 02886
Preparer
Gregory Porcaro Cpaabv Mst
Phone
4017399250
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The process has not changed from the prior year”

Form 990, Page 11, Part X, Line 7

“The foundation received a donation a tax credits from the affordable project's sponsor during 2016 and the credits were sold to an outside investor. The proceeds were used to provide financing to a related investor. The proceeds were used to provide financing to a related affordable project. Fees associated with the transaction were paid with the proceeds. The total outstanding principal balance on the loan is $589,800. The loan has specific restrictions surrounding its use and due to its long-term deferred nature, the loan is fully reserved.”

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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/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0146543
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt022179
IRS990/OtherSalariesAndWagesGrp/TotalAmt0168722
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt027360
IRS990/PayrollTaxesGrp/ProgramServicesAmt01683
IRS990/PayrollTaxesGrp/TotalAmt029043
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt012648
IRS990/PensionPlanContributionsGrp/TotalAmt012648
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt05816
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt03717
IRS990/PrincipalOfficerNm0JOHN J PADIEN III
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531120
IRS990/ProgramServiceRevenueGrp/BusinessCd1531390
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL OF FACILITIES
IRS990/ProgramServiceRevenueGrp/Desc1SHARED SERVICE FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01792644
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt111270
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01792644
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt111270
IRS990/ProgSrvcAccomActy2Grp/Desc0SHARED SERVICES/EQUIPMENT - PROVIDES THE USE OF OFFICE EQUIPMENT TO ORGANIZATIONS WITH EXEMPT PURPOSES.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0811974
IRS990/PYOtherExpensesAmt01442494
IRS990/PYOtherRevenueAmt07926
IRS990/PYProgramServiceRevenueAmt01686100
IRS990/PYRevenuesLessExpensesAmt0666008
IRS990/PYSalariesCompEmpBnftPaidAmt0397498
IRS990/PYTotalExpensesAmt01839992
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02506000
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-67317
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt01803914
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE ENTITY DID NOT INCLUDE IN OTHER INCOME PROCEEDS FROM SALE OF CAPITAL ASSETS, AS PER INSTRUCTIONS. THE PROCEEDS FROM SALE OF CAPITAL ASSETS FOR 2021 WERE AS FOLLOWS: - NET GAIN FROM SALE OF SECURITIES - BASIS REPORTED TO THE IRS: $8,088
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A PART III LINE 12 COLUMN E
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt061200
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt061200
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt07616
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt04724
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt03246
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt015586
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt01686100
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt01657671
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt01669580
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt01656906
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt01643967
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt08314224
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt07616
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt04724
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt03246
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt015586
IRS990ScheduleA/InvestmentIncomeCYPct00.00190
IRS990ScheduleA/InvestmentIncomePYPct00.00100
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt08279
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt02749
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt0970
IRS990ScheduleA/OtherIncome509Grp/TotalAmt011998
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99670
IRS990ScheduleA/PublicSupportPY509Pct00.99650
IRS990ScheduleA/PublicSupportTotal509Amt08375424
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01686100
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01657671
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01730780
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01656906
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01643967
IRS990ScheduleA/Total509Grp/TotalAmt08375424
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01693716
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01662395
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01742305
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01659655
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01644937
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt08403008
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0959643
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03717616
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt04677259
IRS990ScheduleD/EquipmentGrp/BookValueAmt0226761
IRS990ScheduleD/EquipmentGrp/DepreciationAmt095347
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0322108
IRS990ScheduleD/LandGrp/BookValueAmt0325000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0325000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt06065123
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt03946749
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt010011872
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0797924
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LOANS RECEIVABLE
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt067906
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt067906
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt014301
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANTS' DEPOSITS AND PREPAID RENT
IRS990ScheduleD/TotalBookValueLandBuildingsAmt07576527
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0797924
IRS990ScheduleD/TotalLiabilityAmt014301
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0185611
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JOHN J PADIEN III
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0185611
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD DOES NOT HAVE FORMAL COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 WILL BE PRESENTED TO THE BOARD OF DIRECTORS FOR REVIEW. ONCE REVIEWED THE BOARD WILL TAKE APPROPRIATE ACTION BASED ON THAT REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANY DUALITY OF INTEREST OR POSSIBLE CONFLICT OF INTEREST ON THE PART OF ANY DIRECTOR, OFFICER, OR AGENT OF THE ORGANIZATION SHALL BE DISCLOSED TO THE BOARD OF DIRECTORS AND MADE A MATTER OF RECORD THROUGH AN ANNUAL PROCEDURE AND WHEN THE INTEREST BECOMES A MATTER OF BOARD ACTION, SUCH DISCLOSURE SHALL BE REFLECTED IN THE RECORD OF THE PROCEEDINGS OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DISCUSSED, REVIEWED, AND APPROVED AT A BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S GOVERNING DOCUMENTS ARE AVAILABLE ON GUIDESTAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE FOUNDATION RECEIVED A DONATION A TAX CREDITS FROM THE AFFORDABLE PROJECT'S SPONSOR DURING 2016 AND THE CREDITS WERE SOLD TO AN OUTSIDE INVESTOR. THE PROCEEDS WERE USED TO PROVIDE FINANCING TO A RELATED INVESTOR. THE PROCEEDS WERE USED TO PROVIDE FINANCING TO A RELATED AFFORDABLE PROJECT. FEES ASSOCIATED WITH THE TRANSACTION WERE PAID WITH THE PROCEEDS. THE TOTAL OUTSTANDING PRINCIPAL BALANCE ON THE LOAN IS $589,800. THE LOAN HAS SPECIFIC RESTRICTIONS SURROUNDING ITS USE AND DUE TO ITS LONG-TERM DEFERRED NATURE, THE LOAN IS FULLY RESERVED.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 11, PART X, LINE 7
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0455556410
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN1383867728
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt1C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0RI
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd1RI
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/OwnershipPct01.00000

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,128,284
Liabilities
$6,051,270
Net assets
$3,077,014
Revenue
$1,793,257
Expenses
$1,860,574
Net income
-$67,317
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.79$6.19$2.61$1.76$2.10$0.34
2023Summary only. Only limited summary data is available for this year.$9.23$6.31$2.92$1.83$2.01$0.17
2022Detailed filing. Detailed filing data is available for this year.$9.13$6.05$3.08$1.79$1.86$0.07
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.40$6.25$3.14$2.51$1.84$0.67
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.94$6.46$2.48$1.74$1.73$0.01
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.32$5.86$2.46$1.67$1.75$0.08
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.67$6.11$2.56$1.64$1.73$0.09
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.93$6.34$2.59$1.60$1.68$0.07
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.30$6.58$2.72$1.57$1.56$0.01
2015Detailed filing. Detailed filing data is available for this year.$9.67$6.95$2.71$1.67$1.69$0.02
2014Summary only. Only limited summary data is available for this year.$10.1$7.38$2.74$1.60$1.63$0.03
2013Detailed filing. Detailed filing data is available for this year.$10.4$7.65$2.77$1.60$1.63$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.8$8.00$2.80$1.73
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.2$8.23$2.96$1.78
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.6$8.40$3.18$1.77