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Nonprofiteer
← PROVPORT INC

Form 990 for tax year 2022

Filed by PROVPORT INC.

Totals

Total revenue
$14,666,567
Total expenses
$15,234,839
Contributions and grants received
$0
Grants paid
$70,500
Program service revenue
$14,336,016
Investment income
$330,551
Other revenue
$0
Total assets, end of year
$50,534,724
Total liabilities, end of year
$30,800,763
Net assets or fund balances, end of year
$19,733,961
Program services expenses (Part IX)
$3,950,638
Management and general expenses
$11,284,201
Fundraising expenses
$0
Program service expenses (Part III)
$3,950,638

Program services were 25.9% 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.

  • 2a · Program service revenue: TENANT LEASES

    total $6,047,583 · related or exempt $6,047,583

  • 2b · Program service revenue: DOCKAGE

    total $3,159,427 · related or exempt $3,159,427

  • 2c · Program service revenue: WHARFAGE

    total $2,943,258 · related or exempt $2,943,258

  • 2d · Program service revenue: CRANE USAGE

    total $831,708 · related or exempt $831,708

  • 2e · Program service revenue: SECURITY ASSESSMENT

    total $808,265 · related or exempt $808,265

  • 2f · All other program service revenue

    total $545,775 · related or exempt $545,775

  • 3 · Investment income

    total $330,551 · excluded $330,551

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $70,500 · program services $70,500

  • 5 · Compensation of officers, directors and key employees

    total $233,000 · management and general $233,000

  • 10 · Payroll taxes

    total $5,332 · management and general $5,332

  • 11a · Fees: management

    total $11,043,175 · management and general $11,043,175

  • 11b · Fees: legal

    total $65,282 · program services $65,282

  • 11c · Fees: accounting

    total $51,200 · program services $51,200

  • 11g · Fees: other

    total $184,464 · program services $184,464

  • 13 · Office expenses

    total $17,848 · program services $15,154 · management and general $2,694

  • 16 · Occupancy

    total $461,783 · program services $461,783

  • 17 · Travel

    total $8,619 · program services $8,619

  • 20 · Interest

    total $973,119 · program services $973,119

  • 22 · Depreciation, depletion and amortization

    total $1,086,594 · program services $1,086,594

  • 23 · Insurance

    total $150,890 · program services $150,890

  • 24a · Other expenses: TAX TREATY

    total $779,994 · program services $779,994

  • 24b · Other expenses: BAD DEBT EXPENSE

    total $44,876 · program services $44,876

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $33,711 · program services $33,711

  • 24d · Other expenses: PAYMENT TO STATE OF RI

    total $16,672 · program services $16,672

  • 24e · All other expenses

    total $7,780 · program services $7,780

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $60,510 · end of year $117,654

  • 2 · Savings and temporary cash investments

    beginning of year $13,362,766 · end of year $11,898,915

  • 4 · Accounts receivable

    beginning of year $1,238,296 · end of year $2,030,168

  • 9 · Prepaid expenses and deferred charges

    beginning of year $76,313 · end of year $13,000

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

    $41,300,181

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

    $14,648,894

  • 10c · Land, buildings and equipment, net

    beginning of year $25,365,888 · end of year $26,651,287

  • 15 · Other assets

    beginning of year $5,210,240 · end of year $9,823,700

  • 17 · Accounts payable and accrued expenses

    beginning of year $14,342,873 · end of year $16,886,009

  • 19 · Deferred revenue

    beginning of year $392,576 · end of year $497,299

  • 25 · Other liabilities

    beginning of year $10,276,331 · end of year $13,417,455

  • 27 · Net assets without donor restrictions

    beginning of year $20,302,233 · end of year $19,733,961

Mission and programs · 2022

Mission

DEVELOPMENT OF THE PORT OF PROVIDENCE

  • DEVELOPMENT OF THE PORT OF PROVIDENCE

    Expenses $3,950,638 · Grants $70,500 · Revenue $6,047,583

As filed on the 2022 return.

Listed in Part VII

  • Paul Moura

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Susan Fabrizio

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Lopes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joseph McGonale

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark Newhart

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sabina Matos

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Hilary Fagan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Julietta Georgakis

    DIRECTOR (AS OF 12/22)

    Total calculated
    $0
    Hours/week
    1

  • William Brody Esq

    SECRETARY/GENERAL COUNSEL

    Total calculated
    $239,000
    From this org
    $200,000
    From related orgs
    $0
    Other
    $39,000
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $39,000
    Filer's total
    $239,000

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

  • 3 · Approval by the board or compensation committee

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

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

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.

  • CITY OF PROVIDENCE

    RI

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202401369349303310

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