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Nonprofiteer
← RHODE ISLAND COLLEGE FOUNDATION

Form 990 for tax year 2024

Filed by RHODE ISLAND COLLEGE FOUNDATION.

Totals

Total revenue
$6,507,300
Total expenses
$4,003,265
Contributions and grants received
$4,647,236
Grants paid
$2,127,182
Program service revenue
$0
Investment income
$1,892,139
Other revenue
-$32,075
Total assets, end of year
$54,347,107
Total liabilities, end of year
$486,821
Net assets or fund balances, end of year
$53,860,286
Program services expenses (Part IX)
$3,239,594
Management and general expenses
$482,240
Fundraising expenses
$281,431
Program service expenses (Part III)
$3,239,594

Program services were 80.9% 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.

  • 1c · Fundraising events

    $178,326

  • 1d · Related organizations

    $116,711

  • 1f · All other contributions, gifts and grants

    $4,352,199

  • 3 · Investment income

    total $1,330,607 · excluded $1,330,607

  • 7a · Gross sales of assets other than inventory

    securities $5,212,356

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

    securities $4,650,824

  • 7c · Gain or loss

    securities $561,532

  • 7d · Net gain or loss

    total $561,532 · excluded $561,532

  • 8a · Fundraising events: gross income

    $123,320

  • 8a · Fundraising events: contributions included on line 1c

    $178,326

  • 8b · Fundraising events: direct expenses

    $158,670

  • 8c · Net income from fundraising events

    total -$35,350 · excluded -$35,350

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $3,275 · excluded $3,275

  • 11e · Other revenue, total

    $3,275

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,127,182 · program services $2,127,182

  • 7 · Other salaries and wages

    total $499,399 · program services $197,591 · management and general $143,782 · fundraising $158,026

  • 8 · Pension plan contributions

    total $18,253 · program services $7,118 · management and general $6,018 · fundraising $5,117

  • 9 · Other employee benefits

    total $22,127 · program services $8,629 · management and general $7,295 · fundraising $6,203

  • 10 · Payroll taxes

    total $32,428 · program services $3,107 · management and general $15,902 · fundraising $13,419

  • 11b · Fees: legal

    total $52,383 · management and general $52,383

  • 11c · Fees: accounting

    total $46,922 · management and general $46,922

  • 11f · Fees: investment management

    total $170,203 · management and general $170,203

  • 11g · Fees: other

    total $194,393 · program services $194,263 · management and general $130

  • 13 · Office expenses

    total $33,580 · management and general $33,580

  • 14 · Information technology

    total $105,587 · program services $105,587

  • 17 · Travel

    total $145,171 · program services $145,171

  • 23 · Insurance

    total $1,583 · program services $1,583

  • 24a · Other expenses: GIFT FEES

    total $124,006 · program services $124,006

  • 24b · Other expenses: CULTIVATION & APPEAL

    total $119,035 · program services $23,123 · fundraising $95,912

  • 24c · Other expenses: SPONSORSHIP & PROMOTION

    total $70,324 · program services $69,597 · fundraising $727

  • 24d · Other expenses: RECEPTIONS

    total $59,618 · program services $59,618

  • 24e · All other expenses

    total $181,071 · program services $173,019 · management and general $6,025 · fundraising $2,027

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $501,650 · end of year $1,291,657

  • 3 · Pledges and grants receivable

    beginning of year $1,136,279 · end of year $1,034,161

  • 4 · Accounts receivable

    beginning of year $40,547 · end of year $21,027

  • 9 · Prepaid expenses and deferred charges

    beginning of year $69,372 · end of year $97,224

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

    $15,700

  • 10c · Land, buildings and equipment, net

    beginning of year $15,700 · end of year $15,700

  • 11 · Investments: publicly traded securities

    beginning of year $45,108,816 · end of year $50,666,643

  • 15 · Other assets

    beginning of year $1,170,265 · end of year $1,220,695

  • 17 · Accounts payable and accrued expenses

    beginning of year $119,984 · end of year $131,805

  • 18 · Grants payable

    beginning of year $125,000 · end of year $0

  • 25 · Other liabilities

    beginning of year $318,685 · end of year $355,016

  • 27 · Net assets without donor restrictions

    beginning of year $5,089,718 · end of year $5,780,260

  • 28 · Net assets with donor restrictions

    beginning of year $42,389,242 · end of year $48,080,026

Mission and programs · 2024

Mission

TO ENCOURAGE AND RECEIVE PRIVATE AND PUBLIC SUPPORT TO ENHANCE AND EXPAND RHODE ISLAND COLLEGE'S CONTINUED TRADITION OF EDUCATIONAL EXCELLENCE. THE FOUNDATION PROVIDES SUPPORT FOR SCHOLARSHIPS, FACULTY RESEARCH GRANTS, CAPITAL IMPROVEMENTS, LECTURERS AND OTHER PROGRAMS.

Activities or mission (Part I)

TO SOLICIT, ENCOURAGE, AND RECEIVE GIFTS AND GRANTS FOR THE BENEFIT OF RHODE ISLAND COLLEGE

  • FINANCIAL SUPPORT TO RHODE ISLAND COLLEGE BY PROVIDING NEED AND MERIT-BASED SCHOLARSHIPS AND AWARDS TO 499 STUDENTS AND ASSISTANCE WITH FACULTY PROGRAMMING.

    Expenses $2,127,182 · Grants $2,127,182

  • FINANCIAL SUPPORT TO RHODE ISLAND COLLEGE DEPARTMENT OF INTERCOLLEGIATE ATHLETIC SERVICES WITH ATHLETE FACILITY IMPROVEMENTS/MAINTENANCE, UNIFORMS AND EQUIPMENT FOR VARIOUS TEAMS, AND THE PURCHASE OF TROPHIES/AWARDS FOR ATHLETES.

    Expenses $891,118

  • FINANCIAL SUPPORT TO RIC TO SUPPORT STUDENT ENGAGEMENT, LECTURES, FACULTY GRANTS AND SUPPLEMENTAL COMPENSATION AND CONFERENCES.

    Expenses $221,294

As filed on the 2024 return.

Listed in Part VII

  • ERIC SHOEN

    EXECUTIVE DIRECTOR

    Total calculated
    $0
    Hours/week
    35

  • ALAN TENREIRO

    BOARD PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • ANNE SLINEY

    BOARD VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • THOMAS FITZGERALD

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • ALAN CHILLE

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • JOYCE STEVOS

    IMMEDIATE PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • ROBERT BROOKS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • ANN MARIE DASILVA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • RODERICK E DASILVA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • DAVID DEPETRILLO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • GARY DICENZO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • FREDERICK HARRISON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • GARY MOHAMED

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • CAROL MORETTI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • KYLA PECCHIA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • ARTHUR PONTARELLI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • EUGENE SIMONE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • BARBARA SMITH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • JOHN J SMITH JR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

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

  • RHODE ISLAND COLLEGE

    $2,127,182

    FINANCIAL SUPPORT TO RHODE ISLAND COLLEGE FOR CAPITAL IMPROVEMENTS, PURCHASE OF EQUIPMENT AND NEED AND MERIT BASED SCHOLARSHIPS TO STUDENTS AND ASSISTANCE WITH FACULTY PROGRAMMING. SCHOLARSHIPS WERE AWARDED DURING THE REPORTING PERIOD TO 459 RHODE ISLAND COLLEGE STUDENTS.

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
2024
Filed
19 March 2026
IRS schema version
2024v5.5
Source object
202610839349300806

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