Independence Square Foundation
- Assets
- $9.4m
- Revenue
- $2.5m
- Investments
- $310.4k
- Employees
- 9
- Location
- Pawtucket, RI
- Founding
- 08/1984
- Data as of
- 12/2021
- EIN
- 22-2527265
Organization Overview
Independence Square Foundation is located in Pawtucket, RI. The organization was established in 1984. According to its NTEE Classification (Q30) the organization is classified as: International Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2021, Independence Square Foundation employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Independence Square Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Independence Square Foundation generated $2.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $1.8m during the year ending 12/2021. While expenses have increased by 1.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
INDEPENDENCE SQUARE FOUNDATION, INC. IS A NON-PROFIT MANAGEMENT ORGANIZATION DEDICATED TO PROVIDING NON-PROFIT CARE-GIVER ORGANIZATIONS WITH THE KIND OF FIRST CLASS WORK ENVIRONMENTS AND FACILITIES THAT THEY DESERVE BUT MAY NOT BE ABLE TO AFFORD ON THEIR OWN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTAL OF FACILITIES - PROVIDE OFFICE SPACE TO ORGANIZATIONS WITH EXEMPT PURPOSES.
SHARED SERVICES/EQUIPMENT - PROVIDES THE USE OF OFFICE EQUIPMENT TO ORGANIZATIONS WITH EXEMPT PURPOSES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John J Padien III Executive Director | Officer | 30 | $175,555 |
Henrique T Pedro Secretary | OfficerTrustee | 0 | $0 |
William J Szafarowickz President | OfficerTrustee | 0 | $0 |
Mark Saccoccio Treasurer | OfficerTrustee | 0 | $0 |
Paul M Depace Director | Trustee | 0 | $0 |
Michael R Benoit Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,686,100 |
| Investment income | $4,724 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $807,250 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,506,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $175,555 |
| Compensation of current officers, directors, key employees. | $175,555 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $180,089 |
| Pension plan accruals and contributions | $12,251 |
| Other employee benefits | $715 |
| Payroll taxes | $28,888 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,714 |
| Fees for services: Accounting | $11,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,065 |
| Fees for services: Other | $18,531 |
| Advertising and promotion | $0 |
| Office expenses | $9,864 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $891,531 |
| Travel | $13,160 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $375,957 |
| Insurance | $67,066 |
| All other expenses | $8,456 |
| Total functional expenses | $1,839,992 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $332,971 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $151,119 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,816 |
| Net Land, buildings, and equipment | $7,711,512 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $310,355 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $884,448 |
| Total assets | $9,396,221 |
| Accounts payable and accrued expenses | $202,531 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $6,031,800 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $17,559 |
| Total liabilities | $6,251,890 |
| Net assets without donor restrictions | $3,144,331 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,396,221 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Buildon Inc Stamford, CT | $19,130,694 | $16,459,828 |
World Health Clinicians Incorporated Norwalk, CT | $8,440,847 | $12,408,390 |
Precision Development Inc Newton, MA | $6,538,022 | $7,738,170 |
Haitian Health Foundation Inc Norwich, CT | $65,099,173 | $7,218,496 |
Pivotworks Inc Randolph, MA | $5,227,155 | $6,969,114 |
Disability Rights Fund Inc Boston, MA | $10,239,208 | $6,233,797 |
Access Health International Inc Ridgefield, CT | $10,269,818 | $1,942,638 |
Crudem Foundation Ludlow, MA | $1,015,654 | $1,917,084 |
Medicines For Humanity Inc Rockland, MA | $2,984,704 | $3,933,940 |
The Haitian Project Inc Providence, RI | $5,745,460 | $2,202,119 |
The Irish American Partnership Inc Boston, MA | $16,997,169 | $2,831,135 |
Earthenable Weston, MA | $4,240,022 | $1,840,045 |