Corvias Foundation Inc
- Assets
- $4.6k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- East Greenwich, RI
- Founding
- 02/2007
- Data as of
- 12/2021
- EIN
- 20-4848228
Organization Overview
Corvias Foundation Inc is located in East Greenwich, RI. The organization was established in 2007. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Corvias Foundation Inc 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, Corvias Foundation Inc generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.2%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Corvias Foundation Inc has awarded 140 individual grants totaling $1,145,038. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John G Picerne Director, President | 0 | $0 | |
Maria Montalvo Director, Secretary | 0 | $0 | |
Michael Delarosa Director | 0 | $0 | |
Janet Colantuono Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,174,011 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,174,011 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $494,634 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $14,070 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $50,352 |
| Total operating and administrative expenses | $587,666 |
| Contributions, gifts, grants paid | $581,497 |
| Total expenses and disbursements | $1,169,163 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,444 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,173 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,617 |
| Accounts payable and accrued expenses | $12,500 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $60,000 |
| Total liabilities | $72,500 |
Grants Awarded
Over the last fiscal year, Corvias Foundation Inc has awarded $581,497 in support to 62 organizations.
| Grant Recipient | Amount |
|---|---|
MULTIPLE GRANTS - AVAILABLE UPON REQUEST PURPOSE: EDUCATION | $89,014 |
USAA 529 COLLEGE SAVING PLAN PURPOSE: EDUCATION | $86,382 |
THE URI FOUNDATION PURPOSE: AWARDS & GRANTS | $25,000 |
NATIONAL MILITARY FMLY ASSOC PURPOSE: AWARDS & GRANTS | $25,000 |
EDWARD JONES PURPOSE: EDUCATIONAL SCHOLRSHIP | $23,750 |
SCHWAB 529 PLAN PURPOSE: EDUCATION | $21,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Catholic Schools Foundation Inc Boston, MA | $110,171,239 | $27,305,892 |
Laspau Inc Cambridge, MA | $9,172,350 | $9,862,515 |
The Cape Cod Community College Educational Foundation Inc West Barnstable, MA | $15,428,827 | $3,042,413 |
Cape Cod Foundation Inc South Yarmouth, MA | $88,834,376 | $21,531,654 |
Uaspire Inc Boston, MA | $8,161,176 | $8,929,537 |
Stephen Phillips Memorial Scholarship Fund Inc Boston, MA | $45,790,109 | $8,308,700 |
Thrive Scholars Boston, MA | $14,006,320 | $13,719,971 |
Boston Latin School Association Boston, MA | $71,373,277 | -$8,021,699 |
Feigenbaum Foundation Inc Pittsfield, MA | $77,550,637 | $8,621,230 |
Bpe Roxbury, MA | $4,024,536 | $5,203,233 |
The Francis Ouimet Scholarship Fund Inc Norton, MA | $27,290,373 | $6,126,185 |
Seed Global Health Inc Boston, MA | $17,125,826 | $3,834,795 |