Rhode Islanders Sponsoring Education

Analysis

Rhode Islanders Sponsoring Education is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in January 1997, 29 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 2023, Rhode Islanders Sponsoring Education reported income of $557k and spending of $528k, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $406k to $557k (+37%), an average of +8.3% a year. The sharpest change came in the year to June 2022, when income rose by 17%. Over the whole period it spent 88% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Rhode Islanders Sponsoring Education sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 68th percentile within RI. Charities of a similar size with the same main cause include Lakeshore Excellence Foundation ($556k), American Friends of Ora Vesimcha ($558k) and Louisiana Hospitality Foundation ($556k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $78k (15% of expenses). Other salaries and wages came to $11k. At year end it held assets of $628k against liabilities of $217, net assets of $627k. It reported 1 employees.