Civic Intelligence

The Westerly Revolving Fund Inc

EIN 35-2465487 • 501(c)3 • Westerly, RI

Profile

To preserve historical heritage of westerly and stimulate community revitalization.

PO Box 112Westerly, RI 02891

westerlyrevolvingfund.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2024

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2024

Net Margin

9th percentile

-103%

Higher net margin than 9% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

81st percentile

$0

Higher top officer pay than 81% of similar nonprofits.

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

501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

51st percentile

-1.4%

Faster asset growth than 51% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

97th percentile

332%

Faster revenue growth than 97% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$30,991

Down $434 (-1.4%) from 2023

Liabilities

-

No earlier filing loaded for comparison.

Net Assets

Down

$30,991

Down $434 (-1.4%) from 2023

Operations
Liabilities / RevenueScore unavailableNet Margin9th percentile

Revenue

Up

$423

Up $325 (+332%) from 2023

Expenses

Down

$857

Down $179 (-17%) from 2023

Net Income

Up

-$434

Up $504 (+54%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth51st percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$800K$600K$400K$200K$0Assets 2013: $71,451Net Assets 2013: $71,4512013Assets 2014: $87,362Net Assets 2014: $87,3622014Assets 2015: $117,425Net Assets 2015: $117,4252015Assets 2016: $191,340Net Assets 2016: $191,3402016Assets 2017: $323,250Liabilities 2017: $125,000Net Assets 2017: $198,2502017Assets 2018: $143,486Liabilities 2018: $0Net Assets 2018: $143,4862018Assets 2019: $541,441Liabilities 2019: $308,658Net Assets 2019: $232,7832019Assets 2020: $698,597Liabilities 2020: $400,000Net Assets 2020: $298,5972020Assets 2021: $33,189Liabilities 2021: $0Net Assets 2021: $33,1892021Assets 2022: $32,363Net Assets 2022: $32,3632022Assets 2023: $31,425Net Assets 2023: $31,4252023Assets 2024: $30,991Net Assets 2024: $30,9912024

Highlighted filing

2024

Assets$30,991
Liabilities-
Net Assets$30,991
Open 2024 Filing

Operations Trend

Revenue Growth97th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$100K$0-$100K-$200K-$300KRevenue 2013: $75,000Expenses 2013: $3,549Net Income 2013: $71,4512013Revenue 2014: $25,118Expenses 2014: $9,207Net Income 2014: $15,9112014Revenue 2015: $35,500Expenses 2015: $5,437Net Income 2015: $30,0632015Revenue 2016: $80,925Expenses 2016: $7,010Net Income 2016: $73,9152016Revenue 2017: $19,920Expenses 2017: $13,010Net Income 2017: $6,9102017Revenue 2018: -$26,621Expenses 2018: $28,143Net Income 2018: -$54,7642018Revenue 2019: $96,050Expenses 2019: $6,753Net Income 2019: $89,2972019Revenue 2020: $69,900Expenses 2020: $4,086Net Income 2020: $65,8142020Revenue 2021: -$263,096Expenses 2021: $2,312Net Income 2021: -$265,4082021Revenue 2022: $100Expenses 2022: $926Net Income 2022: -$8262022Revenue 2023: $98Expenses 2023: $1,036Net Income 2023: -$9382023Revenue 2024: $423Expenses 2024: $857Net Income 2024: -$4342024

Highlighted filing

2024

Revenue$423
Expenses$857
Net Income-$434
Open 2024 Filing

Filings

Most recent year

2024 • Form 990EZDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$30,991
Liabilities
-
Net assets
$30,991
Revenue
$423
Expenses
$857
Net income
-$434
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.31$0.31$0.00$0.01$0.00
2023Detailed filing. Detailed filing data is available for this year.$0.31$0.31$0.00$0.01$0.01
2022Detailed filing. Detailed filing data is available for this year.$0.32$0.32$0.00$0.01$0.01
2021Detailed filing. Detailed filing data is available for this year.$0.33$0.00$0.33$2.63$0.02$2.65
2020Detailed filing. Detailed filing data is available for this year.$6.99$4.00$2.99$0.70$0.04$0.66
2019Detailed filing. Detailed filing data is available for this year.$5.41$3.09$2.33$0.96$0.07$0.89
2018Detailed filing. Detailed filing data is available for this year.$1.43$0.00$1.43$0.27$0.28$0.55
2017Detailed filing. Detailed filing data is available for this year.$3.23$1.25$1.98$0.20$0.13$0.07
2016Detailed filing. Detailed filing data is available for this year.$1.91$1.91$0.81$0.07$0.74
2015Detailed filing. Detailed filing data is available for this year.$1.17$1.17$0.36$0.05$0.30
2014Detailed filing. Detailed filing data is available for this year.$0.87$0.87$0.25$0.09$0.16
2013Detailed filing. Detailed filing data is available for this year.$0.71$0.71$0.75$0.04$0.71
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 30, 2025
Return Version
2024v5.1
Gross Receipts
$423
Mission and Program Overview

Mission

To preserve historical heritage of westerly and stimulate community revitalization.

Program Services

DescriptionGrantsExpenses
REVOLVING FUND LOAN PROGRAM - THE ORGANIZATION BECAME ESTABLISHED TO PROVIDE TECHNICAL SERVICES TO PROPERTY OWNERS IN WESTERLY'S HISTORIC NEIGHBORHOODS. STAFF WILL PREPARE FOR COST ESTIMATES FOR PROPERTIES AND EXTERIOR SPECIFICATIONS FOR RESIDENTIAL OR COMMERCIAL PROPERTIES, AND MONITOR RESTORATIONS.-$387
COMMUNITY REVITALIZATION PROGRAM - IN APRIL 2019, THE ORGANIZATION PURCHASED A MIXED-USE HISTORIC PROPERTY IN NEED OF RENOVATION AT 134 MAIN ST, WESTERLY, RI. THE ORGANIZATION BEGAN THE RENOVATIONS IMMEDIATELY. ALL RELATED EXPENDITURES WERE CAPITALIZED AND THE COMPLETED PROJECT WAS SOLD ON JULY 1, 2021.--
Compensation and Service Providers
Top Officer Pay81st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
LOUIS W GINGERELLA JRPresidentPT$0--
MICHAEL J BEDDARDDirector-$0--
MARCIA FELBERDirector-$0--
FAITH BESSETTE ZITODirector-$0--
ANTONIO GOODINGDirector-$0--
Filing and Contact Details

Filer

Filer Name
The Westerly Revolving Fund Inc
EIN
35-2465487
Phone
8604600930
Address
PO BOX 112, WESTERLY, RI 02891

Signing Officer

Name
Louis Gingerella
Title
President
Signed
2025-05-30
Discuss with paid preparer
Yes

Preparer

Firm
Arthur H Lathrop CPA
Address
31 Crestview Drive, Westerly, RI 02891
Preparer
Arthur H Lathrop
Phone
4015966300
Supplemental Narrative

Additional Explanations

Other Expenses.1003

“Information Technology $387”

Program Related Investments

“Community revitalization program - in april 2019, the organization purchased a mixed-use historic property in need of renovation at 134 main st, westerly, ri. The organization began the renovations immediately, and continued and were completed in 2021. On july 1, 2021 the revitalized property was sold.”

Raw XML Appendix143 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.

Path#Value
IRS990EZ/ActivitiesNotPreviouslyRptInd0false
IRS990EZ/BooksInCareOfDetail/PersonNm0LOUIS W GINGERELLA JR
IRS990EZ/BooksInCareOfDetail/PhoneNum08604600930
IRS990EZ/BooksInCareOfDetail/USAddress/AddressLine1Txt043 BROAD ST
IRS990EZ/BooksInCareOfDetail/USAddress/CityNm0WESTERLY
IRS990EZ/BooksInCareOfDetail/USAddress/StateAbbreviationCd0RI
IRS990EZ/BooksInCareOfDetail/USAddress/ZIPCd002891
IRS990EZ/CashSavingsAndInvestmentsGrp/BOYAmt031425
IRS990EZ/CashSavingsAndInvestmentsGrp/EOYAmt030991
IRS990EZ/ChgMadeToOrgnzngDocNotRptInd0false
IRS990EZ/ContributionsGiftsGrantsEtcAmt016
IRS990EZ/CostOfGoodsSoldAmt00
IRS990EZ/CostOrOtherBasisExpenseSaleAmt00
IRS990EZ/DonorAdvisedFndsInd0false
IRS990EZ/EngagedInExcessBenefitTransInd0false
IRS990EZ/ExcessOrDeficitForYearAmt0-434
IRS990EZ/FeesAndOtherPymtToIndCntrctAmt0370
IRS990EZ/FiledScheduleAInd0true
IRS990EZ/ForeignFinancialAccountInd0false
IRS990EZ/ForeignOfficeInd0false
IRS990EZ/Form1120PolFiledInd0false
IRS990EZ/Form990TotalAssetsGrp/BOYAmt031425
IRS990EZ/Form990TotalAssetsGrp/EOYAmt030991
IRS990EZ/FundraisingGrossIncomeAmt00
IRS990EZ/GrossReceiptsAmt0423
IRS990EZ/InfoInScheduleOPartIInd0X
IRS990EZ/InvestmentIncomeAmt0407
IRS990EZ/LobbyingActivitiesInd0false
IRS990EZ/MadeLoansToFromOfficersInd0false
IRS990EZ/MethodOfAccountingCashInd0X
IRS990EZ/NetAssetsOrFundBalancesBOYAmt031425
IRS990EZ/NetAssetsOrFundBalancesEOYAmt030991
IRS990EZ/NetAssetsOrFundBalancesGrp/BOYAmt031425
IRS990EZ/NetAssetsOrFundBalancesGrp/EOYAmt030991
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt05.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt11.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt21.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt31.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt41.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt10
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt20
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt30
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt40
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm0LOUIS W GINGERELLA JR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm1MICHAEL J BEDDARD
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm2MARCIA FELBER
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm3FAITH BESSETTE ZITO
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm4ANTONIO GOODING
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt0President
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt1Director
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt2Director
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt3Director
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt4Director
IRS990EZ/OperateHospitalInd0false
IRS990EZ/Organization501c3Ind0X
IRS990EZ/OrganizationDissolvedEtcInd0false
IRS990EZ/OrganizationHadUBIInd0false
IRS990EZ/OtherExpensesTotalAmt0387
IRS990EZ/PartVIHghstPdCntrctProfSrvcTxt0NONE
IRS990EZ/PartVIOfCompOfHghstPdEmplTxt0NONE
IRS990EZ/PoliticalCampaignActyInd0false
IRS990EZ/PrimaryExemptPurposeTxt0TO PRESERVE HISTORICAL HERITAGE OF WESTERLY AND STIMULATE COMMUNITY REVITALIZATION.
IRS990EZ/PrintingPublicationsPostageAmt0100
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt0REVOLVING FUND LOAN PROGRAM - THE ORGANIZATION BECAME ESTABLISHED TO PROVIDE TECHNICAL SERVICES TO PROPERTY OWNERS IN WESTERLY'S HISTORIC NEIGHBORHOODS. STAFF WILL PREPARE FOR COST ESTIMATES FOR PROPERTIES AND EXTERIOR SPECIFICATIONS FOR RESIDENTIAL OR COMMERCIAL PROPERTIES, AND MONITOR RESTORATIONS.
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt1COMMUNITY REVITALIZATION PROGRAM - IN APRIL 2019, THE ORGANIZATION PURCHASED A MIXED-USE HISTORIC PROPERTY IN NEED OF RENOVATION AT 134 MAIN ST, WESTERLY, RI. THE ORGANIZATION BEGAN THE RENOVATIONS IMMEDIATELY. ALL RELATED EXPENDITURES WERE CAPITALIZED AND THE COMPLETED PROJECT WAS SOLD ON JULY 1, 2021.
IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt0387
IRS990EZ/ProhibitedTaxShelterTransInd0false
IRS990EZ/RelatedOrganizationCtrlEntInd0false
IRS990EZ/ScheduleBNotRequiredInd0X
IRS990EZ/SchoolOperatingInd0false
IRS990EZ/SpecialEventsDirectExpensesAmt00
IRS990EZ/SubjectToProxyTaxInd0false
IRS990EZ/TanningServicesProvidedInd0false
IRS990EZ/TaxImposedOnOrganizationMgrAmt00
IRS990EZ/TaxImposedUnderIRC4911Amt00
IRS990EZ/TaxImposedUnderIRC4912Amt00
IRS990EZ/TaxImposedUnderIRC4955Amt00
IRS990EZ/TaxReimbursedByOrganizationAmt00
IRS990EZ/TotalExpensesAmt0857
IRS990EZ/TotalProgramServiceExpensesAmt0387
IRS990EZ/TotalRevenueAmt0423
IRS990EZ/TransactionWithControlEntInd0false
IRS990EZ/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990EZ/TypeOfOrganizationCorpInd0X
IRS990EZ/WebsiteAddressTxt0westerlyrevolvingfund.org
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt016
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt098
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0100
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt022100
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt069900
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt092214
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0407
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0407
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.33980
IRS990ScheduleA/PublicSupportPY170Pct00.45970
IRS990ScheduleA/PublicSupportTotal170Amt031474
IRS990ScheduleA/SubstantialContributorsTotAmt060740
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt016
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt098
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0100
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt022100
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt069900
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt092214
IRS990ScheduleA/TotalSupportAmt092621
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Information Technology $387
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COMMUNITY REVITALIZATION PROGRAM - IN APRIL 2019, THE ORGANIZATION PURCHASED A MIXED-USE HISTORIC PROPERTY IN NEED OF RENOVATION AT 134 MAIN ST, WESTERLY, RI. THE ORGANIZATION BEGAN THE RENOVATIONS IMMEDIATELY, AND CONTINUED AND WERE COMPLETED IN 2021. ON JULY 1, 2021 THE REVITALIZED PROPERTY WAS SOLD.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Other Expenses.1003
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1PROGRAM RELATED INVESTMENTS
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LOUIS GINGERELLA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE WESTERLY REVOLVING FUND INC
ReturnHeader/Filer/BusinessNameControlTxt0WEST
ReturnHeader/Filer/EIN0352465487
ReturnHeader/Filer/PhoneNum08604600930
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 112
ReturnHeader/Filer/USAddress/CityNm0WESTERLY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0RI
ReturnHeader/Filer/USAddress/ZIPCd002891
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0050462585
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Arthur H Lathrop CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt031 Crestview Drive
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Westerly
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0RI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd002891
ReturnHeader/PreparerPersonGrp/PhoneNum04015966300
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ARTHUR H LATHROP
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02025-05-30T13:16:53-07:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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