The Rhode Island Community Foundation

Organization Overview

The Rhode Island Community Foundation, operating under the name The Rhode Island Foundation, is located in Providence, RI. The organization was established in 1985. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Rhode Island Foundation employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rhode Island 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, Rhode Island Foundation generated $194.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.1% each year . All expenses for the organization totaled $86.3m during the year ending 12/2021. While expenses have increased by 7.9% 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.

Since 2019, Rhode Island Foundation has awarded 9,477 individual grants totaling $246,597,963. 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.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

WE ARE A COMMUNITY FOUNDATION DEDICATED TO MEETING THE NEEDS OF THE PEOPLE OF RHODE ISLAND.

Describe the Organization's Program Activity:

STRATEGIC GRANTMAKING PROGRAMS: GRANTMAKING FOCUSED PRIMARILY ON ADDRESSING SPECIFIC PRIORITIES WITHIN THREE STRATEGIC INITIATIVE AREAS: ECONOMIC SECURITY, EDUCATION, AND HEALTH. GRANTMAKING ALSO SUPPORTS ORGANIZATIONS AND PROJECTS THAT ARE RESPONSIVE TO COMMUNITY NEEDS IN OTHER AREAS INCLUDING ARTS & CULTURE, ENVIRONMENT, CHILDREN & FAMILIES, AND HOUSING. GRANTS SUPPORT DIFFERENT APPROACHES INCLUDING 1) POLICY, ADVOCACY AND SYSTEMS REFORM: FUNDING PROJECTS THAT INVOLVE RESEARCH AND ANALYSIS ON PRESSING ISSUES; ADVOCACY AND ORGANIZING THAT GIVES VOICE TO UNDERREPRESENTED GROUPS AND PROMOTES INSTITUTIONAL CHANGE 2) ORGANIZATIONAL AND LEADERSHIP CAPACITY: FUNDING PROJECTS TO INCREASE NONPROFIT CAPACITY AND 3) INNOVATIVE MODELS AND PROVEN PROGRAMS: FUNDING PROJECTS BASED ON UNIQUE RESEARCH OR EXPERIENCE IN A FIELD. WE ALSO SEEK TO EXPAND AND SUSTAIN PROGRAMS THAT ARE HIGHLY EFFECTIVE AND PRODUCE RESULTS. WE ALSO OPERATE MULTIPLE SPECIAL GRANT PROGRAMS THAT FUND PROJECTS THAT BEST MATCH DONOR INTENT.


DONOR DESIGNATED FUNDS: PROVIDING VEHICLES FOR DONORS TO MAKE GRANTS TO QUALIFIED CHARITIES BY DESIGNATING A QUALIFIED CHARITY.


DONOR ADVISED FUNDS: PROVIDING VEHICLES FOR DONORS TO MAKE GRANTS TO QUALIFIED CHARITIES BY ACTIVELY PARTICIPATING IN GRANT RECOMMENDATIONS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Charlesbank Equity Fund
Asset Management
$700,000
Msa Management
Consulting
$620,000
Silchester International Investors
Asset Management
$517,970
Providence Equity
Asset Management
$631,200
Adage Capital Partners
Asset Management
$674,321
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $5,616,882
All other contributions, gifts, grants, and similar amounts not included above$90,954,167
Noncash contributions included in lines 1a–1f $35,293,416
Total Revenue from Contributions, Gifts, Grants & Similar$96,571,049
Total Program Service Revenue$0
Investment income $13,926,792
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $35,200
Net Gain/Loss on Asset Sales $83,805,701
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $194,702,159

Grants Awarded

Over the last fiscal year, The Rhode Island Community Foundation has awarded $64,676,756 in support to 823 organizations.

Grant RecipientAmount

UNITED WAY OF RHODE ISLAND

Org PageRecipient Profile

Providence, RI

PURPOSE: UNITED WAY PHILANTHROPIC FUND; GENERAL OPERATING; JEWISH FAMILY SERVICE; GOOD NEIGHBOR ENERGY FUND; GENERAL SUPPORT; COMMIT TO EQUITY; MAKE IT HAPPEN VISIONING SESSIONS; GOOD NEIGHBOR ENERGY FUND; DR. JAMES YASHAR PHILANTHROPY ACCOUNT; DONOR ADVISED FUND/COMMUNITY FUND; COVID-19 VACCINATION ACCESS GRANT; FEDERATED GIVING; COMMUNITY IMPROVEMENT; PROGRAM SUPPORT; 401 GIVES MATCHING GRANT; 401 GIVES GIFT; 401 GIVES; PHILANTHROPY FUND AT THE UNITED WAY OF RHODE ISLAND

$4,191,398

COMMUNITY MUSICWORKS

Org PageRecipient Profile

Providence, RI

PURPOSE: YOUTH EMPOWERMENT AND INSTITUTIONAL EQUITY INITIATIVE; BUILDING ACQUISITION; SPECIAL BUILDING PROJECT; RWS SELECTION PANEL AWARD; GENERAL OPERATING; MUSIC EDUCATION; PROGRAM SUPPORT; GENERAL SUPPORT; EMPLOYEE MATCHING PROGRAM; CAPITAL CAMPAIGN; KEEP THE MUSIC PLAYING!

$2,156,625

OLNEYVILLE HOUSING CORPORATION

Org PageRecipient Profile

Providence, RI

PURPOSE: AS MOST NEEDED; STAFF TIME DEDICATED TO COVID-19 RESPONSE; GENERAL SUPPORT; OPTION TO PURCHASE 434 ATWELLS; OLNEYVILLE HEALTH EQUITY NETWORK; CENTRAL PROVIDENCE HEZ; RE-ENTRY & SUPPORTIVE HOUSING

$2,133,873

BANK OF AMERICA CHARITABLE GIFT FUND

Org PageRecipient Profile

Boston, MA

PURPOSE: HAXTON FAMILY FUND

$2,000,000

FIDELITY CHARITABLE GIFT FUND

Org PageRecipient Profile

Boston, MA

PURPOSE: STAR RIVER FUND; STAR RIVER FUND; WHERE IT'S NEEDED MOST; STAR RIVER FUND; STAR RIVER FUND

$1,379,892

DORCAS INTERNATIONAL INSTITUTE OF RHODE ISLAND

Org PageRecipient Profile

Providence, RI

PURPOSE: AFGHAN REFUGEE RESETTLEMENT; AFGHAN RESETTLEMENT; AFGHANIS ASSISTANCE; AFGAN REFUGEE SETTLEMENT IN RI; ASSISTANCE FOR NEWLY ARRIVED IMMIGRANTS; AFGHAN REFUGEES; PURCHASE ESSENTIAL ITEMS; FY2021-22 SAFETY AND COVID UPGRADES; HOUSING ASSISTANCE FOR NEWCOMERS; PROGRAMS FOR RI IMMIGRANTS; REFUGEE RELIEF FUND; THE IMMIGRANT COALITION OF RI; WORK IN RESETTLEMENT; GENERAL SUPPORT; PROGRAM SUPPORT; GENERAL OPERATING; WHEREVER MOST NEEDED; COVID-19 ASSISTANCE TO NARRAGANSETT TRIBAL MEMBERS; REFUGEE RELIEF FUND

$924,414
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 23 grants that The Rhode Island Community Foundation has recieved totaling $9,790,423.

Awarding OrganizationAmount
Delta Dental Of Rhode Island

Providence, RI

PURPOSE: PROGRAM SUPPORT

$7,520,000
Xq Institute

Oakland, CA

PURPOSE: SUPPORT THE STATE IN THEIR WORK TO RE-IMAGINE AND RE-DESIGN THEIR SCHOOLS.

$529,650
Schwab Charitable Fund

San Francisco, CA

PURPOSE: PUBLIC, SOCIETAL BENEFIT

$392,161
Partnership For Rhode Island

Providence, RI

PURPOSE: PUBLIC EDUCATION SMART CLINIC & TEACHERS OF COLOR IN PROV. PUBLIC SCHOOL

$360,000
Feibelman Foundation

Providence, RI

PURPOSE: CHARITABLE

$300,000
Partnership For Rhode Island

Providence, RI

PURPOSE: SMART CLINICS

$217,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$1,079,138,902
Earnings$216,644,119
Admin Expense$13,796,476
Net Contributions$89,031,191
Grants$64,152,874
Ending Balance$1,306,864,862

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