Free & Accepted Masons Grand Lodge Of Rhode Island
- Assets
- $11.2m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 6
- Location
- East Providence, RI
- Founding
- 07/1942
- Data as of
- 05/2022
- EIN
- 05-0268217
Organization Overview
Free & Accepted Masons Grand Lodge Of Rhode Island is located in East Providence, RI. The organization was established in 1942. According to its NTEE Classification (Y40) the organization is classified as: Fraternal Societies, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 05/2022, Free & Accepted Masons Grand Lodge Of Rhode Island employed 6 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Free & Accepted Masons Grand Lodge Of Rhode Island is a 501(c)(8) and as such, is described as a "Fraternal Beneficiary Society and/or Association" by the IRS.
For the year ending 05/2022, Free & Accepted Masons Grand Lodge Of Rhode Island generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $974.8k during the year ending 05/2022. While expenses have increased by 1.7% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FRATERNAL AND CIVIC SERVICE TO THE COMMUNITY AND ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SUPPORT AND ASSIST RHODE ISLAND DEMOLAY AND RAINBOW ORGANIZATIONS.
TO SUPPORT AND ASSIST RHODE ISLAND MASONIC YOUTH FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronald P Reed Grand Secret | Officer | 20 | $25,450 |
Michael J Barboza CPA Grand Treasu | Officer | 20 | $24,150 |
Robert Palazzo Deputy Grand | OfficerTrustee | 5 | $0 |
Douglas Grant Senior Grand | OfficerTrustee | 5 | $0 |
Andre H Faria Junior Grand | OfficerTrustee | 5 | $0 |
Michael Cunningham Board Member | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $118,207 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,075 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $120,282 |
| Total Program Service Revenue | $531 |
| Investment income | $402,841 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $39,900 |
| Net Gain/Loss on Asset Sales | $917,677 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,680,213 |
| 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. | $49,600 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $139,290 |
| Pension plan accruals and contributions | $8,282 |
| Other employee benefits | $26,730 |
| Payroll taxes | $17,867 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $87,768 |
| Fees for services: Other | $325 |
| Advertising and promotion | $26,672 |
| Office expenses | $76,499 |
| Information technology | $44,856 |
| Royalties | $0 |
| Occupancy | $48,996 |
| Travel | $58,944 |
| 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 | $0 |
| Insurance | $41,588 |
| All other expenses | $48,352 |
| Total functional expenses | $974,798 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $580,798 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $10,576,889 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,157,687 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $609,042 |
| Net assets with donor restrictions | $10,548,645 |
| 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 | $11,157,687 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Free & Accepted Masons Grand Lodge Of Rhode Island has recieved totaling $6,626.
| Awarding Organization | Amount |
|---|---|
The Rhode Island Community Foundation Providence, RI PURPOSE: FRATERNAL SOCIETY | $6,626 |
Endowment Analysis
| Beg. Balance | $9,662,971 |
| Earnings | $1,303,089 |
| Admin Expense | $99,985 |
| Net Contributions | $59 |
| Other Expense | $575,000 |
| Grants | $111,698 |
| Ending Balance | $10,179,436 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Supreme Council Of The Royal Arcanum Boston, MA | $99,452,230 | $9,284,235 |
Ancient Accepted Scottish Rite Of Freemasonry Nmj Lexington, MA | $3,004,152 | $3,706,614 |
Ancient Accepted Scottish Rite Of Free Masonry Nmj Boston, MA | $20,939,712 | $1,917,478 |
Free & Accepted Masons Grand Lodge Of Rhode Island East Providence, RI | $11,157,687 | $1,680,213 |
Touro Fraternal Association Cranston, RI | $20,297,427 | $411,496 |
Ancient Accepted Scottish Rite Of Free Masonry Nmj Stratford, CT | $11,700,262 | $955,547 |
Catholic Association Of Foresters Braintree, MA | $11,933,169 | $558,623 |
Benevolent & Protective Order Of Elks Of The Usa West Roxbury, MA | $4,127,972 | $805,818 |
Washington Square Services Corporation Newport, RI | $430,021 | $725,468 |
Ancient Accepted Scottish Rite Of Free Masonry Nmj Boston, MA | $12,713,227 | $479,870 |
Masonic Grand Lodge Charities Of R I Inc East Providence, RI | $7,234,800 | $522,548 |
Eastern Star Charity Foundation Of Conn Inc Wallingford, CT | $8,303,525 | $748,731 |