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The Rhode Island Community Foundation
Also known as The Rhode Island Foundation
The Rhode Island Community Foundation reported $147.3 million in revenue and $95.2 million in expenses for calendar year 2024. Of every $100 it spent, $84.69 went to program services, $12.70 to management and general costs and $2.61 to fundraising. Its largest source of revenue was investment income: 61.6% of the total. The highest compensation it reported for one person was $840,042 (PRESIDENT & CEO). 28 people received more than $100,000 in reportable compensation. Revenue rose 63% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $95MFor context, the median across 1,001 covered philanthropy, voluntarism & grantmaking charities: $91.65 programs, $6.50 management, $1.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $147MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 84.7% | 90.2% |
| Management & general Part IX 25(C) ÷ 25(A) | 12.7% | 6.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 2.6% | 1.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.04 | $0.02 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 38.1% | 79.9% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 1.2% | 0.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 0.0% | 0.0% |
| Highest reported compensation Part VII-A, columns D–F | $840,042 | $325,675 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.88% | 1.56% |
| People paid over $100,000 Part VII, line 2 | 28 | 3 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 169.5 | 56.6 |
| Independent voting board members Part VI 1a–1b | 14 of 14 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseDonor advised funds: providing vehicles for donors to make grants to qualified charities actively participating in grant recommendations
Donor designated funds: providing vehicles for donors to make grants to qualified charities by designating a qualified charity
Core grantmaking programs: grantmaking focused primarily on civic and cultural life; climate action and sustainability; education and student success; healthy and strong communities; and housing and economic mobility; guided by inclusiveness, accessibility, compassion, mutual respect and humility. Additional grantmaking programs also support topic- and geography specific projects across Rhode Island, for the benefit of all rhode islanders and in alignment with donor intent
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT & CEO Officer, 40.00 hrs/week | $795,906 | $0 | $44,136 | $840,042 |
| VP OF FINANCE & CEO Officer, 40.00 hrs/week | $282,816 | $0 | $20,089 | $302,905 |
| CHIEF OF STAFF Highest compensated employee, 40.00 hrs/week | $226,557 | $0 | $60,889 | $287,446 |
| VP OF DEVELOPMENT Key employee, 40.00 hrs/week | $236,971 | $0 | $44,896 | $281,867 |
| CTO/VP OF OPERATIONS Key employee, 40.00 hrs/week | $218,187 | $0 | $47,699 | $265,886 |
| VP OF COMMUNICATIONS & MARKETING Key employee, 40.00 hrs/week | $187,546 | $0 | $57,157 | $244,703 |
| VP OF GRANTS & CLIMATE DIRECTOR Key employee, 40.00 hrs/week | $187,976 | $0 | $52,645 | $240,621 |
| VP & ED EQUITY LEADERSHIP INITIATIVE Highest compensated employee, 40.00 hrs/week | $181,422 | $0 | $48,030 | $229,452 |
28 people received more than $100,000 in reportable compensation from The Rhode Island Community Foundation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $2.2M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b14 · 14 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 558
- Volunteers Part I, line 6250
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| ADAGE CAPITAL PARTNERS LP Asset management | $999,784 |
| PROVIDENCE EQUITY Asset management | $670,306 |
| MFS INST INTERNATIONAL EQUITY Asset management | $605,871 |
| SILCHESTER INTL VALUE EQUITY TRUST Asset management | $578,516 |
| SILVER POINT CAPITAL Asset management | $562,881 |
Individuals listed as contractors are left out. 48 contractors were paid more than $100,000 in all.
Private foundation grants it received
23 private foundations reported grants to The Rhode Island Community Foundation totaling $5.2M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from The Rhode Island Community Foundation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for The Rhode Island Community Foundation, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 The Rhode Island Community Foundation spent in 2024, $84.69 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- St Louis Community FoundationSt Louis, MO · revenue $146M · programs 99.7% · 2024
- The University of Cincinnati FoundationCincinnati, OH · revenue $147M · programs 71.4% · FY2025
- Hartford Foundation for Public GivingHartford, CT · revenue $144M · programs 82.2% · 2024
- Jewish Federation of ClevelandCleveland, OH · revenue $151M · programs 84.9% · FY2025
- Methodist Primary CARE GroupHouston, TX · revenue $144M · programs 97.3% · 2024
All philanthropy, voluntarism & grantmaking charities · Largest charities in Rhode Island
Questions people ask
How much of The Rhode Island Community Foundation's spending goes to programs?
In calendar year 2024, The Rhode Island Community Foundation reported that 84.7% of its $95.2 million in expenses went to program services, 12.7% to management and general and 2.6% to fundraising (Form 990, Part IX).
How much does The Rhode Island Community Foundation pay its top executive?
The largest total compensation The Rhode Island Community Foundation reported for one person in calendar year 2024 was $840,042, for the role of PRESIDENT & CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does The Rhode Island Community Foundation get its money?
Of $147.3 million in revenue in calendar year 2024, 38.1% came from contributions and grants (including 1.2% from government grants) and 0.0% from program service revenue (Form 990, Part VIII).
Is The Rhode Island Community Foundation a registered charity?
The IRS lists EIN 22-2604963 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202523179349311872 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202443209349309244 · read the filing
- 2022: Form 990 for calendar year 2022, object 202303179349309095 · read the filing
- 2021: Form 990 for calendar year 2021, object 202233199349312338 · read the filing
- 2020: Form 990 for calendar year 2020 (amended), object 202212149349301671 · read the filing
- 2019: Form 990 for calendar year 2019, object 202013219349309911 · read the filing
All filings for EIN 22-2604963: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.