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← OCEAN STATE CHARITIES TRUST

Form 990 for tax year 2023

Filed by OCEAN STATE CHARITIES TRUST.

Totals

Total revenue
$394,296
Total expenses
$581,401
Contributions and grants received
$100,000
Grants paid
$365,673
Program service revenue
$0
Investment income
$269,578
Other revenue
$24,718
Total assets, end of year
$5,320,441
Total liabilities, end of year
$51,033
Net assets or fund balances, end of year
$5,269,408
Program services expenses (Part IX)
$528,626
Management and general expenses
$52,775
Fundraising expenses
$0
Program service expenses (Part III)
$365,673

Program services were 90.9% 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

  • 3 · Investment income

    total $154,012 · excluded $154,012

  • 7a · Gross sales of assets other than inventory

    securities $1,029,622

  • 7b · Less cost or other basis and sales expenses

    securities $914,056

  • 7c · Gain or loss

    securities $115,566

  • 7d · Net gain or loss

    total $115,566 · excluded $115,566

  • 11a · Other revenue: OTHER INCOME

    total $24,718 · excluded $24,718

  • 11e · Other revenue, total

    $24,718

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $365,673 · program services $365,673

  • 5 · Compensation of officers, directors and key employees

    total $82,625 · program services $82,625

  • 7 · Other salaries and wages

    total $54,996 · program services $39,161 · management and general $15,835

  • 10 · Payroll taxes

    total $10,804 · management and general $10,804

  • 11c · Fees: accounting

    total $11,000 · management and general $11,000

  • 11f · Fees: investment management

    total $25,807 · program services $19,237 · management and general $6,570

  • 13 · Office expenses

    total $5,414 · program services $5,414

  • 14 · Information technology

    total $2,026 · program services $421 · management and general $1,605

  • 16 · Occupancy

    total $17,763 · program services $15,076 · management and general $2,687

  • 22 · Depreciation, depletion and amortization

    total $1,255 · program services $1,019 · management and general $236

  • 23 · Insurance

    total $2,531 · management and general $2,531

  • 24a · Other expenses: PAYROLL PROCESSING

    total $1,507 · management and general $1,507

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,467 · end of year $2,858

  • 4 · Accounts receivable

    beginning of year $12,196 · end of year $10,125

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

    $4,796

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

    $1,255

  • 10c · Land, buildings and equipment, net

    beginning of year $4,796 · end of year $3,541

  • 11 · Investments: publicly traded securities

    beginning of year $5,131,514 · end of year $5,253,304

  • 15 · Other assets

    beginning of year $66,185 · end of year $50,613

  • 25 · Other liabilities

    beginning of year $66,090 · end of year $51,033

  • 27 · Net assets without donor restrictions

    beginning of year $4,826,044 · end of year $4,906,003

  • 28 · Net assets with donor restrictions

    beginning of year $328,024 · end of year $363,405

Mission and programs · 2023

Mission

PROMOTION OF SOCIAL WELFARE WITHIN THE STATE OF RHODE ISLAND.

  • AS A CHARITABLE TRUST, OCEAN STATE CHARITIES TRUST PROMOTES SOCIAL WELFARE WITHIN THE STATE OF RHODE ISLAND THROUGH GRANTS TO PUBLIC CHARITIES THAT PROVIDE ASSISTANCE TO CITIZENS WITHIN THE STATE OF RHODE ISLAND, PARTICULARLY THOSE CHARITIES WHOSE PURPOSES IS TO PROMOTE OR SUPPORT HOUSING, HEALTH, EDUCATION AND WELFARE.

    Expenses $365,673 · Grants $365,673

As filed on the 2023 return.

Listed in Part VII

  • Scott Avedisian

    CHAIRMAN OF THE BOARD

    Total calculated
    $0
    Hours/week
    10

  • Mark Russell

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Jane Lynch

    EXECUTIVE DIRECTOR

    Total calculated
    $0
    Hours/week
    40

  • Victor Capellan

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Amy Vitale

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • John J Partridge Esq

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

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

  • STATE OF RHODE ISLAND

    $365,673

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202443209349317829

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