Special Olympics Rhode Island Inc

Analysis

Special Olympics Rhode Island Inc is a registered charity in United States, based in Smithfield, RI. It received its IRS tax-exemption ruling in February 1979, 47 years ago. 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 December 2023, Special Olympics Rhode Island Inc reported income of $2.8m and spending of $2.0m, leaving 27% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.4m to $2.8m (+17%), an average of +4.0% a year. The sharpest change came in the year to December 2023, when income rose by 40%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Special Olympics Rhode Island Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within RI. Charities of a similar size with the same main cause include Northwest Wisconsin Workforce Investment Board Inc ($2.8m), Operation Lifesaver Inc ($2.8m) and New York Yankees Foundation Inc ($2.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% and program service revenue 4.1% of the total. Compensation of current officers, directors and key employees was $160k (7.9% of expenses). Other salaries and wages came to $723k. At year end it held assets of $6.2m against liabilities of $377k, net assets of $5.8m. It reported 14 employees.