Preserve Rhode Island

Analysis

Preserve Rhode Island is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in April 1966, 60 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Preserve Rhode Island reported income of $1.0m and spending of $1.1m, spending 111% of what it took in. The sharpest change came in the year to December 2021, when income dropped by 72%. Over the whole period it spent 124% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Preserve Rhode Island sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 76th percentile within RI. Charities of a similar size with the same main cause include Huguenot Historical Society New Paltz N Y Inc ($1.0m), The Vail Jazz Foundation Inc ($1.0m) and Theatre Exile Co ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 53% and program service revenue 4.8% of the total. Compensation of current officers, directors and key employees was $96k (8.4% of expenses). Other salaries and wages came to $391k. It paid $1,675 in professional fundraising fees. At year end it held assets of $10.9m against liabilities of $413k, net assets of $10.5m. It reported 10 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.