United Way of Rhode Island Inc

Analysis

United Way of Rhode Island Inc is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in August 1955, 71 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, United Way of Rhode Island Inc reported income of $24.1m and spending of $25.6m, spending 106% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $17.2m to $24.1m (+40%), an average of +6.9% a year. The sharpest change came in the year to June 2021, when income rose by 132%. Over the whole period it spent 96% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, United Way of Rhode Island Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within RI. Charities of a similar size with the same main cause include Dallas Center for the Performing Arts Foundation Inc ($24.0m), Igrb Foundation ($24.1m) and Communtiy Foundation of the Holland Zeeland Area ($24.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $749k (2.9% of expenses). Other salaries and wages came to $6.0m. At year end it held assets of $31.8m against liabilities of $9.6m, net assets of $22.3m. It reported 95 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.