The Rhode Island Community Foundation
Rhode Island Community Foundation: Strong Asset Growth, Consistent Program Spending
EIN: 222604963 · Providence, RI · NTEE: T31 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $301.3M |
| Total Expenses | $102.9M |
| Program Spending | 75% |
| CEO/Top Officer Pay | $876,323 |
| Net Assets | $1.2B |
| Transparency Score | 85/100 |
Is The Rhode Island Community Foundation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Rhode Island Community Foundation directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Rhode Island Community Foundation
The Rhode Island Community Foundation (EIN: 222604963) is a nonprofit organization based in Providence, RI, classified under NTEE code T31. The organization reported total revenue of $301.3M and total assets of $1.3B according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Rhode Island Community Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Rhode Island Community Foundation is a major nonprofit that has been operating for 41 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 7.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $87.7M |
| Total Expenses | $102.9M |
| Surplus / Deficit | $-15,158,874 |
| Total Assets | $1.3B |
| Total Liabilities | $8.8M |
| Net Assets | $1.2B |
| Operating Margin | -17.3% |
| Debt-to-Asset Ratio | 0.7% |
| Months of Reserves | 146.7 months |
Financial Health Grade: B
In 2023, The Rhode Island Community Foundation reported a deficit of $15.2M with expenses exceeding revenue, holds 146.7 months of operating reserves (strong position), has a debt-to-asset ratio of 0.7% (very low leverage).
Financial Trends
Over 14 years of filings (2010–2023), The Rhode Island Community Foundation's revenue has grown at a compound annual growth rate (CAGR) of 7.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -7.3% | +9.3% | +8.0% |
| 2022 | -51.4% | +9.1% | -13.5% |
| 2021 | +91.2% | -1.7% | +20.7% |
| 2020 | +12.7% | +30.7% | +10.3% |
| 2019 | -17.5% | -0.9% | +17.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1985 |
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 The Rhode Island Community Foundation with a Mission Score of 85 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: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, The Rhode Island Community Foundation 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 $15.2M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.7%.
Executive Compensation Analysis
Executive compensation appears reasonable given the organization's size and asset base, with total compensation for key employees detailed in their 990 filings, for example, the CEO's compensation was $876,323 in 2023.
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.
Strengths
The following positive indicators were identified for The Rhode Island Community Foundation:
- Significant asset growth from $783,362,818 in 2016 to $1,257,515,540 in 2023, indicating strong financial management and donor confidence.
- Consistent program spending, demonstrating a stable commitment to their mission.
- Robust revenue generation, with notable peaks such as $194,702,159 in 2021.
- Low liability-to-asset ratio, suggesting financial stability and prudent fiscal management.
Frequently Asked Questions about The Rhode Island Community Foundation
Is The Rhode Island Community Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, The Rhode Island Community Foundation (EIN: 222604963) appears legitimate. Mission Score: 85/100. 0 red flags identified, 4 strengths noted.
How does The Rhode Island Community Foundation spend its money?
The Rhode Island Community Foundation directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to The Rhode Island Community Foundation tax-deductible?
The Rhode Island Community Foundation is registered as a tax-exempt nonprofit (EIN: 222604963). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the The Rhode Island Community Foundation CEO make?
The Rhode Island Community Foundation's highest-compensated officer earns $876,323 annually. The organization reported $301.3M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of The Rhode Island Community Foundation's spending goes to programs?
The Rhode Island Community Foundation directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does The Rhode Island Community Foundation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), The Rhode Island Community Foundation is above average for NTEE category T31 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is The Rhode Island Community Foundation located?
The Rhode Island Community Foundation is headquartered in Providence, Rhode Island and files with the IRS under EIN 222604963. It is classified under NTEE code T31.
How many years of IRS 990 filings does The Rhode Island Community Foundation have?
The Rhode Island Community Foundation 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 $301.3M in total revenue.
What does The Rhode Island Community Foundation do?
The Rhode Island Community Foundation is a nonprofit organization in the Philanthropy, Voluntarism & Grantmaking sector, located in Providence, Rhode Island. It is classified under NTEE code T31.
How much revenue does The Rhode Island Community Foundation have?
The Rhode Island Community Foundation reported total revenue of $301,288,740. Based on 14 IRS 990 filings on record.
What are The Rhode Island Community Foundation's total assets?
The Rhode Island Community Foundation holds total assets of $1,349,471,706 as reported in IRS 990 filings.
Where is The Rhode Island Community Foundation located?
The Rhode Island Community Foundation is based in Providence, Rhode Island.
What is The Rhode Island Community Foundation's EIN?
The Rhode Island Community Foundation's Employer Identification Number (EIN) is 222604963. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is The Rhode Island Community Foundation?
The Rhode Island Community Foundation is classified under NTEE code T31 (Philanthropy, Voluntarism & Grantmaking).
Is The Rhode Island Community Foundation a registered 501(c)(3)?
Yes, The Rhode Island Community Foundation is recognized as a tax-exempt organization by the IRS. EIN: 222604963.
Does The Rhode Island Community Foundation file IRS Form 990?
Yes, The Rhode Island Community Foundation has 14 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was The Rhode Island Community Foundation's revenue in 2023?
In the 202312 filing period, The Rhode Island Community Foundation reported total revenue of $87,701,485, total expenses of $102,860,359, and net assets of $1,257,515,540.
Is The Rhode Island Community Foundation's revenue growing or declining?
The Rhode Island Community Foundation's revenue is declining. Revenue went from $94,559,880 (202212) to $87,701,485 (202312), a -7.3% change. Based on 14 filings on record.
What is The Rhode Island Community Foundation's most recent 990 filing?
The most recent IRS Form 990 filing for The Rhode Island Community Foundation covers tax period 202312. It shows revenue of $87,701,485, expenses of $102,860,359, total assets of $1,257,515,540, and liabilities of $8,763,231.
How much does The Rhode Island Community Foundation spend on programs vs administration?
Based on IRS 990 analysis, The Rhode Island Community Foundation allocates approximately 75% of expenses to program services, 15% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is The Rhode Island Community Foundation a trustworthy charity?
Based on AI analysis of IRS 990 data, The Rhode Island Community Foundation appears trustworthy. Mission Score: 85/100 (Excellent). No red flags identified. 4 strengths noted.
What are The Rhode Island Community Foundation's strengths?
Positive indicators for The Rhode Island Community Foundation include: Significant asset growth from $783,362,818 in 2016 to $1,257,515,540 in 2023, indicating strong financial management and donor confidence.. Consistent program spending, demonstrating a stable commitment to their mission.. Robust revenue generation, with notable peaks such as $194,702,159 in 2021.. Low liability-to-asset ratio, suggesting financial stability and prudent fiscal management.. These findings are derived from AI analysis of the organization's financial filings.
How does The Rhode Island Community Foundation compensate executives?
Executive compensation appears reasonable given the organization's size and asset base, with total compensation for key employees detailed in their 990 filings, for example, the CEO's compensation was $876,323 in 2023. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How does the foundation manage its investment portfolio to achieve such consistent asset growth despite fluctuations in annual revenue?
The consistent asset growth, even with varying annual revenues, suggests a well-managed investment strategy that likely includes diversified portfolios and long-term growth objectives, effectively leveraging market opportunities and mitigating risks.
What specific initiatives or programs contributed to the significant revenue spike in 2021 ($194,702,159) compared to other years?
The substantial revenue increase in 2021 likely resulted from a major capital campaign, a large bequest, or significant market gains on investments, which would be detailed in the full financial statements beyond the summary data provided.
Filing History
IRS 990 filing history for The Rhode Island Community Foundation showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), The Rhode Island Community Foundation's revenue has grown by 146.7%, moving from $35.6M to $87.7M. Total assets increased by 131.7% over the same period, from $542.7M to $1.3B. Total functional expenses rose by 188.3%, from $35.7M to $102.9M. In its most recent filing year (2023), The Rhode Island Community Foundation reported a deficit of $15.2M, with expenses exceeding revenue. The organization holds $8.8M in liabilities against $1.3B in assets (debt-to-asset ratio: 0.7%), resulting in net assets of $1.2B.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $87.7M | $102.9M | $1.3B | $8.8M | — | View 990 |
| 2022 | $94.6M | $94.1M | $1.2B | $13.8M | — | View 990 |
| 2021 | $194.7M | $86.3M | $1.3B | $4.9M | — | View 990 |
| 2020 | $101.8M | $87.8M | $1.1B | $5.5M | — | View 990 |
| 2019 | $90.4M | $67.1M | $1.0B | $10.9M | — | View 990 |
| 2018 | $109.6M | $67.7M | $863.1M | $9.2M | — | View 990 |
| 2017 | $79.2M | $51.8M | $903.3M | $3.1M | — | View 990 |
| 2016 | $45.6M | $53.1M | $783.4M | $3.4M | — | View 990 |
| 2015 | $68.4M | $50.7M | $736.7M | $3.5M | — | View 990 |
| 2014 | $54.3M | $44.2M | $754.5M | $4.2M | — | View 990 |
| 2013 | $88.0M | $40.5M | $736.2M | $4.0M | — | View 990 |
| 2012 | $53.3M | $36.6M | $623.3M | $3.1M | — | View 990 |
| 2011 | $99.6M | $34.8M | $552.0M | $3.5M | — | View 990 |
| 2010 | $35.6M | $35.7M | $542.7M | $4.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $87.7M, expenses of $102.9M, and assets of $1.3B (revenue -7.3% year-over-year).
- 2022: Revenue of $94.6M, expenses of $94.1M, and assets of $1.2B (revenue -51.4% year-over-year).
- 2021: Revenue of $194.7M, expenses of $86.3M, and assets of $1.3B (revenue +91.2% year-over-year).
- 2020: Revenue of $101.8M, expenses of $87.8M, and assets of $1.1B (revenue +12.7% year-over-year).
- 2019: Revenue of $90.4M, expenses of $67.1M, and assets of $1.0B (revenue -17.5% year-over-year).
- 2018: Revenue of $109.6M, expenses of $67.7M, and assets of $863.1M (revenue +38.4% year-over-year).
- 2017: Revenue of $79.2M, expenses of $51.8M, and assets of $903.3M (revenue +73.7% year-over-year).
- 2016: Revenue of $45.6M, expenses of $53.1M, and assets of $783.4M (revenue -33.4% year-over-year).
- 2015: Revenue of $68.4M, expenses of $50.7M, and assets of $736.7M (revenue +26.0% year-over-year).
- 2014: Revenue of $54.3M, expenses of $44.2M, and assets of $754.5M (revenue -38.3% year-over-year).
- 2013: Revenue of $88.0M, expenses of $40.5M, and assets of $736.2M (revenue +64.9% year-over-year).
- 2012: Revenue of $53.3M, expenses of $36.6M, and assets of $623.3M (revenue -46.4% year-over-year).
- 2011: Revenue of $99.6M, expenses of $34.8M, and assets of $552.0M (revenue +180.0% year-over-year).
- 2010: Revenue of $35.6M, expenses of $35.7M, and assets of $542.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Rhode Island Community Foundation:
Data Sources and Methodology
This transparency report for The Rhode Island Community Foundation 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.