Farm Fresh Rhode Island
Farm Fresh Rhode Island shows consistent revenue growth and strong asset accumulation over the past decade.
EIN: 204625643 · Providence, RI · NTEE: K40 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $8.2M |
| Total Expenses | $7.3M |
| Program Spending | 85% |
| Net Assets | $10.5M |
| Transparency Score | 88/100 |
Is Farm Fresh Rhode Island Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Farm Fresh Rhode Island directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Farm Fresh Rhode Island
Farm Fresh Rhode Island (EIN: 204625643) is a nonprofit organization based in Providence, RI, classified under NTEE code K40. The organization reported total revenue of $8.2M and total assets of $19.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Farm Fresh Rhode Island's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Farm Fresh Rhode Island is a mid-size nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 21.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $8.7M |
| Total Expenses | $7.3M |
| Surplus / Deficit | +$1.4M |
| Total Assets | $20.6M |
| Total Liabilities | $10.1M |
| Net Assets | $10.5M |
| Operating Margin | 16.2% |
| Debt-to-Asset Ratio | 48.9% |
| Months of Reserves | 33.8 months |
Financial Health Grade: A
In 2023, Farm Fresh Rhode Island reported a surplus of $1.4M with revenue exceeding expenses, holds 33.8 months of operating reserves (strong position), has a debt-to-asset ratio of 48.9% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Farm Fresh Rhode Island's revenue has grown at a compound annual growth rate (CAGR) of 21.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +41.2% | +33.6% | +4.6% |
| 2022 | -19.4% | +11.8% | +0.6% |
| 2021 | +11.2% | -17.4% | +68.1% |
| 2020 | +54.1% | +64.5% | +11.2% |
| 2019 | +38.5% | +23.4% | +130.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Farm Fresh Rhode Island with a Mission Score of 88 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Farm Fresh Rhode Island allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $1.4M, with revenue exceeding expenses.
- Debt-to-asset ratio: 48.9%.
Executive Compensation Analysis
The IRS 990 filings consistently report 0% officer compensation, suggesting that top leadership may be compensated through other means not categorized as 'officer compensation' or that the organization relies heavily on volunteer leadership or modest salaries not meeting reporting thresholds for officers, which could be a positive sign of resource allocation to programs.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Farm Fresh Rhode Island's IRS 990 filings:
- Significant increase in liabilities from $285,861 in 2014 to $10,085,743 in 2023, warranting further investigation into their nature.
Strengths
The following positive indicators were identified for Farm Fresh Rhode Island:
- Consistent and substantial revenue growth, from $1.8M in 2014 to $8.7M in 2023.
- Strong asset accumulation, growing from $536,156 in 2014 to over $20M in 2023.
- Consistent operational surpluses, with revenues exceeding expenses in most reported periods (e.g., $8.7M revenue vs. $7.3M expenses in 2023).
- Reported 0% officer compensation across all filings, suggesting efficient use of funds for mission.
- Long history of public IRS 990 filings (13 filings), indicating good transparency.
Frequently Asked Questions about Farm Fresh Rhode Island
Is Farm Fresh Rhode Island a legitimate charity?
Based on AI analysis of IRS 990 filings, Farm Fresh Rhode Island (EIN: 204625643) some concerns. Mission Score: 88/100. 1 red flag identified, 5 strengths noted.
How does Farm Fresh Rhode Island spend its money?
Farm Fresh Rhode Island directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Farm Fresh Rhode Island tax-deductible?
Farm Fresh Rhode Island is registered as a tax-exempt nonprofit (EIN: 204625643). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Farm Fresh Rhode Island's spending goes to programs?
Farm Fresh Rhode Island directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Farm Fresh Rhode Island compare to similar nonprofits?
With a transparency score of 88/100 (Excellent), Farm Fresh Rhode Island is above average for NTEE category K40 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Farm Fresh Rhode Island located?
Farm Fresh Rhode Island is headquartered in Providence, Rhode Island and files with the IRS under EIN 204625643. It is classified under NTEE code K40.
How many years of IRS 990 filings does Farm Fresh Rhode Island have?
Farm Fresh Rhode Island has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $8.2M in total revenue.
Is Farm Fresh Rhode Island a good charity?
Based on its financial performance, consistent revenue growth from $1.8M in 2014 to $8.7M in 2023, and significant asset accumulation to over $20M, Farm Fresh Rhode Island appears to be a financially healthy and well-managed organization. The consistent surpluses and reported 0% officer compensation are positive indicators.
How has Farm Fresh Rhode Island's financial health changed over time?
The organization has experienced substantial financial growth, with revenue increasing more than four-fold and assets growing from $536,156 in 2014 to $20,605,818 in 2023. This indicates a strong upward trend in financial capacity and sustainability.
What is the trend in Farm Fresh Rhode Island's liabilities?
Liabilities have shown a significant increase, from $285,861 in 2014 to $10,085,743 in 2023. While assets have grown even more substantially, the nature of these increasing liabilities would require further investigation of the full 990 forms.
Filing History
IRS 990 filing history for Farm Fresh Rhode Island showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Farm Fresh Rhode Island's revenue has grown by 951.3%, moving from $830K to $8.7M. Total assets increased by 6533.9% over the same period, from $311K to $20.6M. Total functional expenses rose by 970.4%, from $684K to $7.3M. In its most recent filing year (2023), Farm Fresh Rhode Island reported a surplus of $1.4M, with revenue exceeding expenses. The organization holds $10.1M in liabilities against $20.6M in assets (debt-to-asset ratio: 48.9%), resulting in net assets of $10.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $8.7M | $7.3M | $20.6M | $10.1M | — | — |
| 2022 | $6.2M | $5.5M | $19.7M | $10.2M | — | View 990 |
| 2021 | $7.7M | $4.9M | $19.6M | $10.5M | — | View 990 |
| 2020 | $6.9M | $5.9M | $11.6M | $5.8M | — | View 990 |
| 2019 | $4.5M | $3.6M | $10.5M | $5.6M | — | View 990 |
| 2018 | $3.2M | $2.9M | $4.5M | $493K | — | View 990 |
| 2017 | $5.7M | $2.5M | $4.2M | $482K | — | View 990 |
| 2016 | $2.0M | $2.2M | $993K | $439K | — | View 990 |
| 2015 | $2.4M | $1.9M | $941K | $232K | — | View 990 |
| 2014 | $1.8M | $1.8M | $536K | $286K | — | View 990 |
| 2013 | $1.6M | $1.5M | $443K | $204K | — | View 990 |
| 2012 | $1.1M | $1.1M | $284K | $75K | — | View 990 |
| 2011 | $830K | $684K | $311K | $63K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $8.7M, expenses of $7.3M, and assets of $20.6M (revenue +41.2% year-over-year).
- 2022: Revenue of $6.2M, expenses of $5.5M, and assets of $19.7M (revenue -19.4% year-over-year).
- 2021: Revenue of $7.7M, expenses of $4.9M, and assets of $19.6M (revenue +11.2% year-over-year).
- 2020: Revenue of $6.9M, expenses of $5.9M, and assets of $11.6M (revenue +54.1% year-over-year).
- 2019: Revenue of $4.5M, expenses of $3.6M, and assets of $10.5M (revenue +38.5% year-over-year).
- 2018: Revenue of $3.2M, expenses of $2.9M, and assets of $4.5M (revenue -43.0% year-over-year).
- 2017: Revenue of $5.7M, expenses of $2.5M, and assets of $4.2M (revenue +178.6% year-over-year).
- 2016: Revenue of $2.0M, expenses of $2.2M, and assets of $993K (revenue -14.2% year-over-year).
- 2015: Revenue of $2.4M, expenses of $1.9M, and assets of $941K (revenue +29.4% year-over-year).
- 2014: Revenue of $1.8M, expenses of $1.8M, and assets of $536K (revenue +17.0% year-over-year).
- 2013: Revenue of $1.6M, expenses of $1.5M, and assets of $443K (revenue +41.3% year-over-year).
- 2012: Revenue of $1.1M, expenses of $1.1M, and assets of $284K (revenue +33.7% year-over-year).
- 2011: Revenue of $830K, expenses of $684K, and assets of $311K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Farm Fresh Rhode Island:
Data Sources and Methodology
This transparency report for Farm Fresh Rhode Island is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.