Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1981.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
92 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
6 people listed on the 990.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Improves social welfare for Rhode Island residents.
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As a charitable trust, ocean state charities trust promotes social welfare within the state of rhode island through grants to public charities that provide assistance to citizens within the state of rhode island, particularly those charities whose purposes is to promote or support housing, health, education and welfare.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $4K | $5K |
| InvestmentsLn 11–13 | $5.2M | $5.1M |
| Land, buildings, equipmentLn 10c | $1K | $5K |
| Total assetsLn 16 | $5.2M | $5.2M |
| LiabilitiesLn 26 | $0 | $66K |
| Net assetsLn 32 | $5.2M | $5.2M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $411K | $411K | ||
| Pay of current officers, directors and key staffLn 5 | $78K | $62K | $16K | |
| Other salaries and wagesLn 7 | $50K | $40K | $10K | |
| Payroll taxesLn 10 | $10K | $9K | $956 | |
| Accounting feesLn 11c | $11K | $11K | ||
| Investment management feesLn 11f | $24K | $19K | $5K | |
| Office expensesLn 13 | $5K | $2K | $2K | |
| Information technologyLn 14 | $6K | $6K | $0 | |
| OccupancyLn 16 | $17K | $15K | $2K | |
| Depreciation, depletion and amortizationLn 22 | $769 | $623 | $146 | |
| InsuranceLn 23 | $2K | $2K | ||
| Other expenses (24a–d)Ln 24 | $3K | $2K | $2K | |
| Total functional expensesLn 25 | $618K | $567K | $51K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $331K | $512K | −$182K | $5.3M | 990 PDF |
| FY2024 | $394K | $581K | −$187K | $5.3M | 990 PDF |
| FY2023 Viewing | $540K | $618K | −$78K | $5.2M | 990 PDF |
| FY2022 | $496K | $534K | −$38K | $5.2M | 990 PDF |
| FY2021 | $623K | $546K | $77K | $6.5M | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (4 parts)
Part VIII · Statement of revenue $539,797 across 6 lines filed
Part IX · Statement of functional expenses $617,801 across 12 lines filed
Part X · Balance sheet $5,220,158 assets, 12 lines filed
Part XI · Reconciliation of net assets $5,154,068 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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