The Rhode Island Community Foundation

Analysis

The Rhode Island Community Foundation is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in June 1985, 41 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 December 2023, The Rhode Island Community Foundation reported income of $87.7m and spending of $102.9m, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $90.4m to $87.7m (-2.9%), an average of -0.7% a year. The sharpest change came in the year to December 2021, when income rose by 91%. Over the whole period it spent 77% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, The Rhode Island Community Foundation sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within RI. Charities of a similar size with the same main cause include Ray Dolby Legacy Fund ($87.7m), Christian Community Foundation of Memphis and the Mid-South Inc ($88.3m) and Big East Conference Inc ($87.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% of the total. Compensation of current officers, directors and key employees was $2.2m (2.1% of expenses). Other salaries and wages came to $4.9m. At year end it held assets of $1.26bn against liabilities of $8.8m, net assets of $1.25bn. It reported 59 employees.