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Nonprofiteer
← GREATER PROVIDENCE CHAMBER FOUNDATION

Form 990 for tax year 2022

Filed by GREATER PROVIDENCE CHAMBER FOUNDATION.

Totals

Total revenue
$40
Total expenses
$3,355
Contributions and grants received
$40
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$810,394
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$810,394
Program services expenses (Part IX)
$3,355
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$3,355

Program services were 100.0% 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

    $40

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $730 · program services $730

  • 11c · Fees: accounting

    total $2,625 · program services $2,625

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $11,297 · end of year $5,582

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

    $1,390

  • 10c · Land, buildings and equipment, net

    beginning of year $1,390 · end of year $1,390

  • 13 · Investments: program-related

    beginning of year $803,422 · end of year $803,422

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,400

  • 27 · Net assets without donor restrictions

    beginning of year $813,709 · end of year $810,394

Mission and programs · 2022

Mission

THE FOUNDATION SEEKS TO IDENTIFY, SUPPORT AND FUND CHARITABLE, EDUCATIONAL AND SCIENTIFIC PROGRAMS AND PROJECTS THAT ENHANCE AND STIMULATE COMMERCE, BUSINESS, FINANCE, AND THE PROFESSIONS IN GREATER PROVIDENCE AND OTHER AREAS OF THE STATE OF RHODE ISLAND.

  • THE PRIMARY GOAL OF THE BUSINESS ATTRACTION CAMPAIGN IS TO PROMOTE THE STATE OF RHODE ISLAND AS A DESIRABLE DESTINATION TO LOCATE AND EXPAND BUSINESS AND TO ATTRACT BUSINESSES TO THE STATE.

    Expenses $3,355

As filed on the 2022 return.

Listed in Part VII

  • Laureen L White

    PRESIDENT

    Total calculated
    $296,346
    From this org
    $0
    From related orgs
    $263,007
    Other
    $33,339
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $214,227 related
    Bonus
    $0 + $47,500 related
    Other
    $0 + $1,280 related
    Deferred
    $0 + $20,550 related
    Nontaxable benefits
    $0 + $12,789 related
    Filer's total
    $0 + $296,346 related

  • Diana Franchitto

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Brian Spero

    SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Patricia Thompson

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Jonathan Duffy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Robert Vincent

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
AN EXECUTIVE COMPENSATION COMMITTEE OF GREATER PROVIDENCE CHAMBER OF COMMERCE REVIEWS PRIOR YEAR'S PERFORMANCE AND DISCUSSES THE PRESIDENT'S CURRENT CONTRACT TERMS. THE RESULTS OF THIS DELIBERATION ARE SHARED WITH THE ENTIRE BOARD OF DIRECTORS AT WHICH TIME ALL DIRECTORS MAY SHARE THEIR PERSPECTIVE ON THE ORGANIZATION'S PERFORMANCE AND REVIEW AND RATIFY THE PRESIDENT'S CONTRACT TERMS.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
22 April 2024
IRS schema version
2022v5.0
Source object
202441229349302104

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