Oliver Hazard Perry Rhode Island Inc
Oliver Hazard Perry Rhode Island Inc. faces severe financial distress with persistent multi-million dollar deficits and declining assets.
EIN: 202574859 · Providence, RI · NTEE: A84 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4.4M |
| Total Expenses | $2.4M |
| Program Spending | 75% |
| Net Assets | $-1,232,527 |
| Transparency Score | 35/100 |
Is Oliver Hazard Perry Rhode Island Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Oliver Hazard Perry Rhode Island Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Oliver Hazard Perry Rhode Island Inc
Oliver Hazard Perry Rhode Island Inc (EIN: 202574859) is a nonprofit organization based in Providence, RI, classified under NTEE code A84. The organization reported total revenue of $4.4M and total assets of $2.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Oliver Hazard Perry Rhode Island Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Oliver Hazard Perry Rhode Island Inc is a mid-size nonprofit that has been operating for 21 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 4.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $850K |
| Total Expenses | $2.4M |
| Surplus / Deficit | $-1,597,316 |
| Total Assets | $4.5M |
| Total Liabilities | $5.7M |
| Net Assets | $-1,232,527 |
| Operating Margin | -188.0% |
| Debt-to-Asset Ratio | 127.6% |
| Months of Reserves | 21.9 months |
Financial Health Grade: C
In 2023, Oliver Hazard Perry Rhode Island Inc reported a deficit of $1.6M with expenses exceeding revenue, holds 21.9 months of operating reserves (strong position), has a debt-to-asset ratio of 127.6% (high leverage).
Financial Trends
Over 14 years of filings (2010–2023), Oliver Hazard Perry Rhode Island Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +24.6% | -0.3% | -22.1% |
| 2022 | -12.4% | -3.4% | -21.7% |
| 2021 | +43.5% | +11.9% | -19.9% |
| 2020 | -29.0% | -7.3% | -12.3% |
| 2019 | -33.5% | -23.6% | -12.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2005 |
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 Oliver Hazard Perry Rhode Island Inc with a Mission Score of 35 out of 100 (Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Oliver Hazard Perry Rhode Island Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 deficit of $1.6M, with expenses exceeding revenue.
- Debt-to-asset ratio: 127.6%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all provided filings, suggesting either a fully volunteer executive leadership or that compensation is not reported in this specific field, which could impact the full transparency of leadership costs relative to the organization's size and financial state.
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 Oliver Hazard Perry Rhode Island Inc's IRS 990 filings:
- Consistent and substantial operational deficits (e.g., $1.5M deficit in 2023).
- Significant decline in assets over time (from $16M in 2015 to $4.4M in 2023).
- Liabilities frequently exceeding assets, indicating a negative net asset position.
- High liabilities relative to revenue, suggesting potential solvency issues (e.g., $5.6M liabilities vs. $0.8M revenue in 2023).
Strengths
The following positive indicators were identified for Oliver Hazard Perry Rhode Island Inc:
- No reported officer compensation, potentially indicating volunteer leadership or efficient use of funds at the executive level.
Frequently Asked Questions about Oliver Hazard Perry Rhode Island Inc
Is Oliver Hazard Perry Rhode Island Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Oliver Hazard Perry Rhode Island Inc (EIN: 202574859) significant concerns. Mission Score: 35/100. 4 red flags identified, 1 strength noted.
How does Oliver Hazard Perry Rhode Island Inc spend its money?
Oliver Hazard Perry Rhode Island Inc directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Oliver Hazard Perry Rhode Island Inc tax-deductible?
Oliver Hazard Perry Rhode Island Inc is registered as a tax-exempt nonprofit (EIN: 202574859). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Oliver Hazard Perry Rhode Island Inc's spending goes to programs?
Oliver Hazard Perry Rhode Island Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Oliver Hazard Perry Rhode Island Inc compare to similar nonprofits?
With a transparency score of 35/100 (Poor), Oliver Hazard Perry Rhode Island Inc is below average for NTEE category A84 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Oliver Hazard Perry Rhode Island Inc located?
Oliver Hazard Perry Rhode Island Inc is headquartered in Providence, Rhode Island and files with the IRS under EIN 202574859. It is classified under NTEE code A84.
How many years of IRS 990 filings does Oliver Hazard Perry Rhode Island Inc have?
Oliver Hazard Perry Rhode Island Inc has 14 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 $4.4M in total revenue.
Is Oliver Hazard Perry Rhode Island Inc. financially sustainable?
Based on the provided data, the organization is not financially sustainable. It has consistently operated at a significant deficit, with expenses far exceeding revenue for at least the past decade, leading to a substantial decline in assets and increasing liabilities.
What is the primary cause of the organization's financial decline?
The primary cause appears to be a persistent and large imbalance between revenue and expenses. For example, in 2023, revenue was $849,543 while expenses were $2,446,859, indicating that the organization is spending significantly more than it earns.
How have the organization's assets changed over time?
The organization's assets have significantly declined, from a peak of $16,039,687 in 2015 to $4,461,721 in 2023, representing a decrease of over 72%.
What is the organization's net asset position?
In the latest filing (2023), the organization's assets were $4,461,721 and liabilities were $5,694,248, resulting in a negative net asset position of -$1,232,527.
Filing History
IRS 990 filing history for Oliver Hazard Perry Rhode Island Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Oliver Hazard Perry Rhode Island Inc's revenue has grown by 69.3%, moving from $502K to $850K. Total assets increased by 340.6% over the same period, from $1.0M to $4.5M. Total functional expenses rose by 1131.7%, from $199K to $2.4M. In its most recent filing year (2023), Oliver Hazard Perry Rhode Island Inc reported a deficit of $1.6M, with expenses exceeding revenue. The organization holds $5.7M in liabilities against $4.5M in assets (debt-to-asset ratio: 127.6%), resulting in net assets of $-1,232,527.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $850K | $2.4M | $4.5M | $5.7M | — | — |
| 2022 | $682K | $2.5M | $5.7M | $5.4M | — | View 990 |
| 2021 | $778K | $2.5M | $7.3M | $5.2M | — | View 990 |
| 2020 | $542K | $2.3M | $9.1M | $5.3M | — | — |
| 2019 | $764K | $2.4M | $10.4M | $4.8M | — | View 990 |
| 2018 | $1.1M | $3.2M | $11.9M | $4.6M | — | View 990 |
| 2017 | $1.4M | $3.4M | $13.8M | $4.5M | — | View 990 |
| 2016 | $1.1M | $2.1M | $14.4M | $3.1M | — | View 990 |
| 2015 | $4.9M | $1.5M | $16.0M | $3.8M | — | View 990 |
| 2014 | $6.2M | $1.4M | $12.3M | $3.7M | — | View 990 |
| 2013 | $1.3M | $757K | $8.1M | $3.6M | — | View 990 |
| 2012 | $2.1M | $409K | $4.8M | $1.6M | — | View 990 |
| 2011 | $1.3M | $291K | $2.2M | $711K | — | View 990 |
| 2010 | $502K | $199K | $1.0M | $477K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $850K, expenses of $2.4M, and assets of $4.5M (revenue +24.6% year-over-year).
- 2022: Revenue of $682K, expenses of $2.5M, and assets of $5.7M (revenue -12.4% year-over-year).
- 2021: Revenue of $778K, expenses of $2.5M, and assets of $7.3M (revenue +43.5% year-over-year).
- 2020: Revenue of $542K, expenses of $2.3M, and assets of $9.1M (revenue -29.0% year-over-year).
- 2019: Revenue of $764K, expenses of $2.4M, and assets of $10.4M (revenue -33.5% year-over-year).
- 2018: Revenue of $1.1M, expenses of $3.2M, and assets of $11.9M (revenue -19.2% year-over-year).
- 2017: Revenue of $1.4M, expenses of $3.4M, and assets of $13.8M (revenue +26.8% year-over-year).
- 2016: Revenue of $1.1M, expenses of $2.1M, and assets of $14.4M (revenue -77.0% year-over-year).
- 2015: Revenue of $4.9M, expenses of $1.5M, and assets of $16.0M (revenue -21.7% year-over-year).
- 2014: Revenue of $6.2M, expenses of $1.4M, and assets of $12.3M (revenue +364.2% year-over-year).
- 2013: Revenue of $1.3M, expenses of $757K, and assets of $8.1M (revenue -36.1% year-over-year).
- 2012: Revenue of $2.1M, expenses of $409K, and assets of $4.8M (revenue +63.2% year-over-year).
- 2011: Revenue of $1.3M, expenses of $291K, and assets of $2.2M (revenue +156.4% year-over-year).
- 2010: Revenue of $502K, expenses of $199K, and assets of $1.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Oliver Hazard Perry Rhode Island Inc:
Data Sources and Methodology
This transparency report for Oliver Hazard Perry Rhode Island Inc 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.