Ocean State Charities Trust

Analysis

Ocean State Charities Trust is a registered charity in United States, based in Pawtucket, RI. It received its IRS tax-exemption ruling in July 1981, 45 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Ocean State Charities Trust reported income of $540k and spending of $618k, spending 114% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $301k to $540k (+80%), an average of +16% a year. The sharpest change came in the year to June 2021, when income rose by 160%. Over the whole period it spent 122% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Ocean State Charities Trust sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 67th percentile within RI. Charities of a similar size with the same main cause include Christians in Commerce International ($540k), McCarthy Holdings Charitable Corporation ($540k) and Amy Wellness Foundation ($539k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 19% of the total. Compensation of current officers, directors and key employees was $78k (13% of expenses). Other salaries and wages came to $50k. At year end it held assets of $5.2m against liabilities of $66k, net assets of $5.2m. It reported 2 employees.