Preserve Rhode Island

Tax-deductible

Providence, RI501(c)(3)Arts & CultureEIN 05-6012417Revenue $1.1M in FY2024

On file with the IRSpreserveri.org957 N Main St, 02904-5715 · Providence, RITax-exempt since Apr 1966Publicly supported charity — 170(b)(1)(A)(vi)

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To protect historic structures and unique places in RI for current and future generations.

501(c)(3) charity; gifts are tax-deductible.
70¢ of each $1 spent went to programs.
$93K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $145K a year · 8% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
70%
of spending
Fine: 70% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$93K
to officers and key staff · 7% of spending
Top officer’s pay lower than 73% of similar orgs
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
8 mo
of spending, in cash
Looks good: 8.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
10
named funders · $379K
Looks good: 10 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$483K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
25
of 25 voting members
Looks good: 25 of 25 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.1M
+9% vs prior year
Spent
$1.4M
To programs
70%
Net assets
$10.9M
By yearFY2020–FY2024
Revenue
$1.1M
FY2024▲ +9%
Tap a bar for its year
Revenue by fiscal year
FY2020$4.5M
FY2021$1.2M
FY2022$737K
FY2023$1.0M
FY2024$1.1M
Expenses
$1.4M
FY2024▲ +24%
Tap a bar for its year
Expenses by fiscal year
FY2020$3.6M
FY2021$1.9M
FY2022$1.3M
FY2023$1.1M
FY2024$1.4M
Net assets
$10.9M
FY2024▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$12.7M
FY2021$13.0M
FY2022$11.3M
FY2023$10.5M
FY2024$10.9M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 1966.

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

Where the money goes

70 cents of each dollar spent went to programs.

Program services 70% · $992K Management & general 15% · $215K Fundraising 15% · $207K

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

27 people listed on the 990; $93K paid to officers and key staff.

Part VII, Section A · reportable compensation
Ex Director (past)
$92,563Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Co Chairperson
$0Pt VII · Sec A

Valerie Talmage’s $93K as Ex Director (past) is at the 27th percentile of top reported officer pay among 3924 $1–10M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Valerie Talmage$92,563$92,911$96,685$96,601$98,167

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Preserve Rhode Island 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 15aYes

Programs and updates

Safeguards historic buildings and special places in Rhode Island for today and tomorrow.

Questions for Preserve Rhode Island

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Provided by the organization

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3 programs · $992K · in their own filed words · FY2024
01

Stewardship

Preserve ri owns three properties, demonstrating the continuing contributions that historic buildings make today, placing them in active uses and undertaking maintenance and capital investments to keep them in good repair.

$452Kprogram expense
02

Direct Preservation

Preserve ri takes direct action to protect and enhance historic places through its revolving fund program, by acquiring easements, and by collaborating on special projects such as the aquidneck stonewall initiative and the scenic third beach project.

$366Kprogram expense
03

Engage

Preserve ri motivates people to connect with historic places and makes the case for safeguarding rhode island's historic places. Preserve ri is a leading voice for historic preservation, helping people preserve the places that matter to them through our community preservation response program.

$173Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
See all 10 funders →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.1M
Ln 12
Gifts and grantsLn 1h$592K
Investment incomeLn 3$380K
Other incomeLn 4–11$76K
Money outPt IX
$1.4M
Ln 25
Programscol B$992K
Managementcol C$215K
Fundraisingcol D$207K
Owns and owesPt X
$10.9M
net assets · Ln 32
Cash and savingsLn 1–2$1.0M
Total assetsLn 16$11.4M
LiabilitiesLn 26$483K
PeoplePt VI, VII
27
listed · VII A
PaidVII A1
Voting boardVI 1a25
IndependentVI 1b25
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$592K
Government grantsLn 1e$40K
Noncash giftsLn 1g$10K
Fundraising eventsLn 1c$73K
Fees for servicesLn 2g$74K
Investment incomeLn 3$380K
Other incomeLn 4–11$76K
Gains on assetsLn 7$135K
Total revenueLn 12$1.1M
Assets in detailPt X, end of year
CashLn 1$83K
SavingsLn 2$920K
Cash and savings togetherLn 1–2$1.0M
InvestmentsLn 11–13$8.4M
Land, buildings, equipmentLn 10c$1.9M
Total assetsLn 16$11.4M
LiabilitiesLn 26$483K
Net assetsLn 32$10.9M
OperationsPt I, VI
EmployeesI 58
VolunteersI 60
Fiscal year endsHeaderDecember
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
LineStart FY24End FY24
Cash and savingsLn 1–2$1.1M$1.0M
InvestmentsLn 11–13$7.9M$8.4M
Land, buildings, equipmentLn 10c$1.8M$1.9M
Total assetsLn 16$10.9M$11.4M
LiabilitiesLn 26$413K$483K
Net assetsLn 32$10.5M$10.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$95K$48K$29K$19K
Other salaries and wagesLn 7$434K$297K$5K$132K
Pension plan contributionsLn 8$9K$6K$41$3K
Other employee benefitsLn 9$23K$15K$8K
Payroll taxesLn 10$43K$28K$3K$12K
Legal feesLn 11b$11K$8K$3K
Accounting feesLn 11c$46K$46K
Professional fundraising feesLn 11e$2K$2K
Investment management feesLn 11f$67K$67K
Other fees for servicesLn 11g$105K$43K$56K$6K
Advertising and promotionLn 12$1K$1K$242
Office expensesLn 13$30K$15K$2K$13K
Information technologyLn 14$16K$8K$395$8K
OccupancyLn 16$199K$196K$550$3K
TravelLn 17$5K$4K$81$396
Conferences, conventions and meetingsLn 19$1K$1K$15$71
InterestLn 20$550$550
Depreciation, depletion and amortizationLn 22$67K$67K
InsuranceLn 23$45K$40K$5K$742
Other expenses (24a–d)Ln 24$213K$213K$177
Total functional expensesLn 25$1.4M$992K$215K$207K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.1M$1.4M−$292K$10.9M 990 PDF
FY2023 $1.0M$1.1M−$111K$10.5M 990 PDF
FY2022 $737K$1.3M−$589K$11.3M 990 PDF
FY2021 $1.2M$1.9M−$615K$13.0M 990 PDF
FY2020 $4.5M$3.6M$881K$12.7M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $1,121,411 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $540,787$591,743
I-9 Program service revenuePrior year $49,112$74,042
I-10 Investment incomePrior year $365,883$380,060
I-11 Other revenuePrior year $73,839$75,566
I-12 Total revenuePrior year $1,029,621$1,121,411
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 $557,502$604,416
I-16a Professional fundraising feesPrior year $1,675$1,825
I-17 Other expensesPrior year $581,336$806,989
I-18 Total expensesPrior year $1,140,513$1,413,230
I-19 Revenue less expensesPrior year −$110,892−$291,819
Part VI · Governance 25 of 25 board members independent, 1 to look at
VI-1a Voting members of the governing body25
VI-1b Independent voting members25
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,121,411 across 13 lines filed
VIII-1b Membership dues$12,965
VIII-1c Fundraising events$72,660
VIII-1e Government grants$40,000
VIII-1f All other contributions, gifts and grants$466,118
VIII-1g Noncash contributions (included above)$9,639
VIII-1h Total contributions, gifts and grants$591,743
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $74,042$74,042
VIII-3 Investment incomeExcluded from tax $244,707$244,707
VIII-6 Net rental income or lossUnrelated business −$12,151 · Excluded from tax $80,106$67,955
VIII-7 Net gain or loss on sales of assetsExcluded from tax $135,353$135,353
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $7,611$7,611
VIII-12 Total revenueRelated to mission $74,042 · Unrelated business −$12,151 · Excluded from tax $467,777$1,121,411
Part IX · Statement of functional expenses $1,413,230 across 20 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $47,685 · Management $28,611 · Fundraising $19,074$95,370
IX-7 Other salaries and wagesPrograms $297,337 · Management $4,602 · Fundraising $131,901$433,840
IX-8 Pension plan contributionsPrograms $6,325 · Management $41 · Fundraising $3,098$9,464
IX-9 Other employee benefitsPrograms $15,082 · Fundraising $8,054$23,136
IX-10 Payroll taxesPrograms $27,977 · Management $2,604 · Fundraising $12,025$42,606
IX-11b Legal feesPrograms $8,260 · Management $2,520$10,780
IX-11c Accounting feesManagement $45,697$45,697
IX-11e Professional fundraising feesFundraising $1,825$1,825
IX-11f Investment management feesManagement $67,136$67,136
IX-11g Other fees for servicesPrograms $42,827 · Management $55,736 · Fundraising $6,316$104,879
IX-12 Advertising and promotionPrograms $1,255 · Fundraising $242$1,497
IX-13 Office expensesPrograms $15,366 · Management $1,819 · Fundraising $12,639$29,824
IX-14 Information technologyPrograms $7,744 · Management $395 · Fundraising $7,849$15,988
IX-16 OccupancyPrograms $196,031 · Management $550 · Fundraising $2,557$199,138
IX-17 TravelPrograms $4,362 · Management $81 · Fundraising $396$4,839
IX-19 Conferences, conventions and meetingsPrograms $1,149 · Management $15 · Fundraising $71$1,235
IX-20 InterestPrograms $550$550
IX-22 Depreciation, depletion and amortizationPrograms $67,140$67,140
IX-23 InsurancePrograms $40,032 · Management $4,711 · Fundraising $742$45,485
IX-24 Other expenses (24a–d)Programs $212,624 · Management $177$212,801
IX-25 Total functional expensesPrograms $991,746 · Management $214,695 · Fundraising $206,789$1,413,230
Part X · Balance sheet $11,373,230 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $441,784$82,699
X-2 Savings and temporary cash investmentsStart of year $663,468$920,128
X-4 Accounts receivableStart of year $62,235$93,023
X-9 Prepaid expenses and deferred chargesStart of year $16,361$12,673
X-10c Land, buildings and equipment, netStart of year $1,831,327$1,854,029
X-11 Publicly traded securitiesStart of year $6,316,189$6,813,887
X-12 Other securitiesStart of year $1,547,275$1,596,791
X-16 Total assetsStart of year $10,878,639$11,373,230
X-17 Accounts payable and accrued expensesStart of year $71,906$127,059
X-25 Other liabilitiesStart of year $192,294$227,912
X-26 Total liabilitiesStart of year $413,294$483,238
X-27 Net assets without donor restrictionsStart of year $2,955,866$3,089,806
X-28 Net assets with donor restrictionsStart of year $7,509,479$7,800,186
X-32 Total net assets or fund balancesStart of year $10,465,345$10,889,992
X-33 Total liabilities and net assetsStart of year $10,878,639$11,373,230
Part XI · Reconciliation of net assets $10,889,992 net assets at year end
XI-1 Total revenue$1,121,411
XI-2 Total expenses$1,413,230
XI-3 Revenue less expenses−$291,819
XI-4 Net assets at start of year$10,465,345
XI-5 Net unrealized gains (losses) on investments$716,466
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$10,889,992

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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