Risd Holdings INC: FY2020 Nonprofit Profile & Form 990 (EIN 05-0508151)

Revenue by fiscal year
FY2020	$1.1M
FY2021	$743K
FY2022	$1.2M
FY2023	$2.8M
FY2024	$1.3M
FY2025	$1.3M

Expenses by fiscal year
FY2020	$1.2M
FY2021	$1.2M
FY2022	$1.2M
FY2023	$1.2M
FY2024	$1.2M
FY2025	$1.1M

Net assets by fiscal year
FY2020	$171K
FY2021	−$314K
FY2022	−$287K
FY2023	$1.4M
FY2024	$695K
FY2025	$841K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 2011.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Part of a larger organization · Schedule R

Risd Holdings INC files its own Form 990, but Schedule R discloses 2 related entities — figures on this page are for this EIN only, not the whole group.

Rhode Island School of Design · Washington Place Holdings LP · See Schedule R

Combined filings · FY2020 · 2 entities with data

Simple sum of each entity's Form 990 headline figures — not audited consolidated financials. This page's EIN is 1% of group revenue.

Group revenue

$218.0M

Group expenses

$189.3M

Group net assets

$447.9M

Rhode Island School of Design · $216.9M rev · $447.8M net assets

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII

Rosanne Somerson

President/Chair

$0Pt VII · Sec A

David Proulx

Treasurer/Secretary

$0Pt VII · Sec A

Richard W Haining

Director

$0Pt VII · Sec A

Karen Hammond

Director

$0Pt VII · Sec A

Philip E Tobey

Director

$0Pt VII · Sec A

See Risd Holdings INC executive salaries →

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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 15aNo

Programs and updates

Manages properties and collects rent to support RISD's mission.

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1 program · in their own filed words · FY2019

01

Risd holdings, inc. Holds title to various properties, collects rental income from such properties, and turns over the full amount of income, less expenses, to rhode island school of design (risd) to help risd carry out its educational mission. Risd holdings, inc.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2020 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$1.1M

Ln 12

Fees for servicesLn 2g$1.1M

Money outPt IX

$1.2M

Ln 25

Owns and owesPt X

$171K

net assets · Ln 32

Cash and savingsLn 1–2$1.3M

Total assetsLn 16$6.7M

LiabilitiesLn 26$6.6M

PeoplePt VI, VII

5

listed · VII A

PaidVII A0

Voting boardVI 1a5

IndependentVI 1b3

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$1.1M

Total revenueLn 12$1.1M

Assets in detailPt X, end of year

CashLn 1$1.3M

Cash and savings togetherLn 1–2$1.3M

Land, buildings, equipmentLn 10c$4.9M

Total assetsLn 16$6.7M

LiabilitiesLn 26$6.6M

Net assetsLn 32$171K

OperationsPt I, VI

EmployeesI 50

VolunteersI 62

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY20	End FY20
Cash and savingsLn 1–2	$989K	$1.3M
Land, buildings, equipmentLn 10c	$5.0M	$4.9M
Total assetsLn 16	$6.4M	$6.7M
LiabilitiesLn 26	$6.1M	$6.6M
Net assetsLn 32	$225K	$171K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$94K
Other employee benefitsLn 9	$25K
Other fees for servicesLn 11g	$132K
Office expensesLn 13	$22K
OccupancyLn 16	$474K
TravelLn 17	$125
InterestLn 20	$260K
Depreciation, depletion and amortizationLn 22	$139K
InsuranceLn 23	$13K
Total functional expensesLn 25	$1.2M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$1.3M	$1.1M	$147K	$841K	990 PDF
FY2024Filed with the IRS May 15, 2025	$1.3M	$1.2M	$137K	$695K	990 PDF
FY2023Filed with the IRS May 15, 2024	$2.8M	$1.2M	$1.7M	$1.4M	990 PDF
FY2022Filed with the IRS May 15, 2023	$1.2M	$1.2M	$27K	−$287K	990 PDF
FY2021Filed with the IRS May 13, 2022	$743K	$1.2M	−$485K	−$314K	990 PDF
FY2020 ViewingFiled with the IRS May 10, 2021	$1.1M	$1.2M	−$54K	$171K	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations

See the full FY2020 990 (6 parts)

Part I · Summary $1,104,725 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $1,199,219$1,104,725

I-10 Investment incomePrior year $0$0

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $1,199,219$1,104,725

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $90,768$118,352

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $1,001,230$1,040,414

I-18 Total expensesPrior year $1,091,998$1,158,766

I-19 Revenue less expensesPrior year $107,221−$54,041

Part VI · Governance 3 of 5 board members independent, 2 to look at

VI-1a Voting members of the governing body5

VI-1b Independent voting members3

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

Part VIII · Statement of revenue $1,104,725 across 2 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,104,725$1,104,725

VIII-12 Total revenueRelated to mission $1,104,725 · Unrelated business $0 · Excluded from tax $0$1,104,725

Part IX · Statement of functional expenses $1,158,766 across 9 lines filed

IX-7 Other salaries and wages$93,612

IX-9 Other employee benefits$24,740

IX-11g Other fees for services$131,547

IX-13 Office expenses$22,446

IX-16 Occupancy$473,976

IX-17 Travel$125

IX-20 Interest$260,004

IX-22 Depreciation, depletion and amortization$139,024

IX-23 Insurance$13,292

IX-25 Total functional expenses$1,158,766

Part X · Balance sheet $6,739,255 assets, 11 lines filed

X-1 Cash, non-interest-bearingStart of year $988,896$1,301,664

X-4 Accounts receivableStart of year $376,095$490,588

X-10c Land, buildings and equipment, netStart of year $5,008,939$4,947,003

X-16 Total assetsStart of year $6,373,930$6,739,255

X-17 Accounts payable and accrued expensesStart of year $893,570$1,317,336

X-19 Deferred revenueStart of year $55,325$50,925

X-25 Other liabilitiesStart of year $5,200,000$5,200,000

X-26 Total liabilitiesStart of year $6,148,895$6,568,261

X-27 Net assets without donor restrictionsStart of year $225,035$170,994

X-32 Total net assets or fund balancesStart of year $225,035$170,994

X-33 Total liabilities and net assetsStart of year $6,373,930$6,739,255

Part XI · Reconciliation of net assets $170,994 net assets at year end

XI-1 Total revenue$1,104,725

XI-2 Total expenses$1,158,766

XI-3 Revenue less expenses−$54,041

XI-4 Net assets at start of year$225,035

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$170,994

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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Risd Holdings INC FY2020 filing

Before you give

Is it real?

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Risd Holdings INC

Funders

By the numbers

Filing history

Schedules filed Part IV

Risd Holdings INC FY2020 filing

Before you give

Is it real?

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Risd Holdings INC

Funders

Related Organizations

By the numbers

Filing history

Schedules filed Part IV