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Nonprofiteer
← OCEAN STATE RESEARCH INSTITUTE INC

Form 990 for tax year 2022

Filed by OCEAN STATE RESEARCH INSTITUTE INC.

Totals

Total revenue
$5,983,699
Total expenses
$5,893,664
Contributions and grants received
$100,000
Grants paid
$0
Program service revenue
$5,836,880
Investment income
$46,819
Other revenue
$0
Total assets, end of year
$2,727,296
Total liabilities, end of year
$1,553,857
Net assets or fund balances, end of year
$1,173,439
Program services expenses (Part IX)
$5,653,470
Management and general expenses
$240,194
Fundraising expenses
$0
Program service expenses (Part III)
$5,653,470

Program services were 95.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $100,000

  • 2a · Program service revenue: Research revenue

    total $5,836,880 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $46,819 · unrelated business $0 · excluded $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $115,087 · program services $69,052 · management and general $46,035 · fundraising $0

  • 7 · Other salaries and wages

    total $2,893,528 · program services $2,806,722 · management and general $86,806 · fundraising $0

  • 8 · Pension plan contributions

    total $30,256 · program services $27,230 · management and general $3,026 · fundraising $0

  • 9 · Other employee benefits

    total $179,356 · program services $161,420 · management and general $17,936 · fundraising $0

  • 10 · Payroll taxes

    total $138,205 · program services $124,354 · management and general $13,851 · fundraising $0

  • 11a · Fees: management

    total $10,575 · program services $10,575 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $19,000 · program services $0 · management and general $19,000 · fundraising $0

  • 12 · Advertising and promotion

    total $16,901 · program services $16,901 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $42,965 · program services $0 · management and general $42,965 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $77,918 · program services $77,918 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $37,454 · program services $37,454 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $10,575 · program services $0 · management and general $10,575 · fundraising $0

  • 24a · Other expenses: Subawardees

    total $1,526,467 · program services $1,526,467 · management and general $0 · fundraising $0

  • 24b · Other expenses: Other research expenses

    total $154,854 · program services $154,854 · management and general $0 · fundraising $0

  • 24c · Other expenses: Dues and memberships

    total $11,442 · program services $11,442 · management and general $0 · fundraising $0

  • 24d · Other expenses: Laboratory expenses

    total $509,985 · program services $509,985 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $119,096 · program services $119,096 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $2,374,535 · end of year $2,177,917

  • 4 · Accounts receivable

    beginning of year $371,607 · end of year $457,937

  • 9 · Prepaid expenses and deferred charges

    beginning of year $20,148 · end of year $6,188

  • 10a · Land, buildings and equipment: cost or other basis

    $774,294

  • 10b · Land, buildings and equipment: accumulated depreciation

    $689,040

  • 10c · Land, buildings and equipment, net

    beginning of year $98,210 · end of year $85,254

  • 17 · Accounts payable and accrued expenses

    beginning of year $400,666 · end of year $298,182

  • 19 · Deferred revenue

    beginning of year $1,380,430 · end of year $1,255,675

  • 27 · Net assets without donor restrictions

    beginning of year $1,083,404 · end of year $1,173,439

Mission and programs · 2022

Mission

Ocean State Research Institute's mission is to provide support for the research and education programs at the Providence VA Medical Center.

  • Medical research and education.

    Expenses $5,653,470 · Revenue $5,836,880

As filed on the 2022 return.

Listed in Part VII

  • Satish Sharma MD

    President/Director

    Total calculated
    $0
    Hours/week
    1

  • Kenneth Poyton

    Treasurer/Director

    Total calculated
    $0
    Hours/week
    0.25

  • Lawrence Connell

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Gaurav Choudhary MD

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Wen-Chih Wu MD

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Sharon Rounds MD

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • AnnMarie Dunican MD

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Mary T Ford

    Executive Director

    Total calculated
    $115,089
    From this org
    $115,089
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Daniel O'Hara

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Matthew Jankowich MD

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • William O'Gara

    Director

    Total calculated
    $0
    Hours/week
    0.25

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
9 January 2024
IRS schema version
2022v5.0
Source object
202430299349300548

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