Rhode Island College Foundation: FY2023 Nonprofit Profile & Form 990 (EIN 05-6049721)

Revenue by fiscal year
FY2020	$2.4M
FY2021	$6.6M
FY2022	$8.4M
FY2023	$3.4M
FY2024	$4.3M
FY2025	$6.5M

Expenses by fiscal year
FY2020	$4.3M
FY2021	$3.4M
FY2022	$2.1M
FY2023	$3.1M
FY2024	$4.2M
FY2025	$4.0M

Net assets by fiscal year
FY2020	$33.6M
FY2021	$44.5M
FY2022	$37.7M
FY2023	$42.0M
FY2024	$47.5M
FY2025	$53.9M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1978.

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

Where the money goes

78 cents of each dollar spent went to programs.

78%

12%

Program services 78% · $2.4M Management & general 10% · $299K Fundraising 12% · $360K

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

23 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII

Alan Chille

Past President

$0Pt VII · Sec A

Gary Dicenzo

Vice President

$0Pt VII · Sec A

Gary Mohamed

Treasurer

$0Pt VII · Sec A

Kyla Pecchia

Secretary

$0Pt VII · Sec A

Eugene Simone

Board Member

$0Pt VII · Sec A

Ann Marie Dasilva

Board Member

$0Pt VII · Sec A

Vincent Cullen

Board Member

$0Pt VII · Sec A

Roderick E Dasilva

Board Member

$0Pt VII · Sec A

Denise Domin’s $93K as Dir of Adm & Finance (thru 1/2024) is at the 26th percentile of top reported officer pay among 3395 $1–10M education 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 · 2 named individuals · Part VII

Name	FY2024	FY2020
Edwin Pacheco	—	$144,256
Denise Domin	$92,689	—

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.

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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 2Yes
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Supports Rhode Island College scholarships, faculty research, and programs to enhance educational excellence.

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Provided by the organization

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3 programs · $2.0M · in their own filed words · FY2022

01

Financial support to rhode island college by providing need and merit-based scholarships and awards to 507 students and assistance with faculty programming.

$789Kprogram expense

02

Financial support to rhode island college department of intercollegiate athletic services with athlete facility IMPROVEMENTS/MAINTENANCE, uniforms and equipment for various teams, and the purchase of TROPHIES/AWARDS for athletes.

$691Kprogram expense

03

Financial support to ric to support student engagement, lectures, faculty grants and supplemental compensation and conferences.

$476Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid

Grants received · FY2025

Ppl FoundationFY2025$8K

Total grants receivedfrom 1 funder$8K

Grants paid · 6 grants · $10.1M · 2019–2024

Rhode Island CollegeFY2024$2,127,182

Rhode Island CollegeFY2023$2,407,956

Rhode Island CollegeFY2022$1,510,788

Rhode Island CollegeFY2021$824,283

Rhode Island CollegeFY2020$1,553,643

Rhode Island CollegeFY2019$1,709,436

By the numbers

The FY2023 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$3.4M

Ln 12

Gifts and grantsLn 1h$2.7M

Investment incomeLn 3$562K

Other incomeLn 4–11$133K

Money outPt IX

$3.1M

Ln 25

Programscol B$2.4M

Managementcol C$299K

Fundraisingcol D$360K

Owns and owesPt X

$42.0M

net assets · Ln 32

Cash and savingsLn 1–2$878K

Total assetsLn 16$43.3M

LiabilitiesLn 26$1.3M

PeoplePt VI, VII

23

listed · VII A

PaidVII A0

Voting boardVI 1a18

IndependentVI 1b18

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$2.7M

Noncash giftsLn 1g$17K

Fundraising eventsLn 1c$136K

Investment incomeLn 3$562K

Other incomeLn 4–11$133K

Gains on assetsLn 7−$241K

Total revenueLn 12$3.4M

Assets in detailPt X, end of year

SavingsLn 2$878K

Cash and savings togetherLn 1–2$878K

InvestmentsLn 11–13$40.2M

Land, buildings, equipmentLn 10c$0

Other assetsLn 15$1.1M

Total assetsLn 16$43.3M

LiabilitiesLn 26$1.3M

Net assetsLn 32$42.0M

OperationsPt I, VI

EmployeesI 513

VolunteersI 625

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

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

Line	Start FY23	End FY23
Cash and savingsLn 1–2	$333K	$878K
InvestmentsLn 11–13	$35.8M	$40.2M
Land, buildings, equipmentLn 10c	$0	$0
Total assetsLn 16	$38.6M	$43.3M
LiabilitiesLn 26	$953K	$1.3M
Net assetsLn 32	$37.7M	$42.0M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$1.5M	$1.5M
Other salaries and wagesLn 7	$657K	$288K	$67K	$302K
Pension plan contributionsLn 8	$21K	$9K	$2K	$10K
Other employee benefitsLn 9	$43K	$19K	$4K	$20K
Payroll taxesLn 10	$32K	$13K	$5K	$14K
Investment management feesLn 11f	$137K		$137K
Other fees for servicesLn 11g	$171K	$117K	$54K
TravelLn 17	$45K	$44K		$750
Other expenses (24a–d)Ln 24	$367K	$351K	$2K	$14K
All other expensesLn 24e	$75K	$48K	$28K
Total functional expensesLn 25	$3.1M	$2.4M	$299K	$360K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$6.5M	$4.0M	$2.5M	$53.9M	990 PDF
FY2024	$4.3M	$4.2M	$35K	$47.5M	990 PDF
FY2023 Viewing	$3.4M	$3.1M	$379K	$42.0M	990 PDF
FY2022	$8.4M	$2.1M	$6.3M	$37.7M	990 PDF
FY2021	$6.6M	$3.4M	$3.2M	$44.5M	990 PDF
FY2020	$2.4M	$4.3M	−$1.9M	$33.6M	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 FY2023 990 (6 parts)

Part I · Summary $3,438,035 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $1,411,670$2,743,226

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $6,818,772$562,250

I-11 Other revenuePrior year $147,278$132,559

I-12 Total revenuePrior year $8,377,720$3,438,035

I-13 Grants and similar amounts paidPrior year $824,283$1,510,788

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

I-15 Salaries and benefitsPrior year $605,358$753,100

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

I-17 Other expensesPrior year $671,144$794,797

I-18 Total expensesPrior year $2,100,785$3,058,685

I-19 Revenue less expensesPrior year $6,276,935$379,350

Part VI · Governance 18 of 18 board members independent, 1 to look at

VI-1a Voting members of the governing body18

VI-1b Independent voting members18

VI-2 Family or business relationship among officers or directorsYes

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

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

Part VIII · Statement of revenue $3,438,035 across 9 lines filed

VIII-1c Fundraising events$135,830

VIII-1f All other contributions, gifts and grants$2,607,396

VIII-1g Noncash contributions (included above)$17,279

VIII-1h Total contributions, gifts and grants$2,743,226

VIII-3 Investment incomeExcluded from tax $803,696$803,696

VIII-7 Net gain or loss on sales of assetsExcluded from tax −$241,446−$241,446

VIII-8 Net income from fundraising eventsExcluded from tax −$14,953−$14,953

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $147,512$147,512

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $694,809$3,438,035

Part IX · Statement of functional expenses $3,058,685 across 10 lines filed

IX-1 Grants to domestic organizationsPrograms $1,510,788$1,510,788

IX-7 Other salaries and wagesPrograms $288,051 · Management $66,686 · Fundraising $302,091$656,828

IX-8 Pension plan contributionsPrograms $9,355 · Management $2,166 · Fundraising $9,811$21,332

IX-9 Other employee benefitsPrograms $18,874 · Management $4,369 · Fundraising $19,794$43,037

IX-10 Payroll taxesPrograms $12,971 · Management $4,772 · Fundraising $14,160$31,903

IX-11f Investment management feesManagement $136,935$136,935

IX-11g Other fees for servicesPrograms $116,631 · Management $53,973$170,604

IX-17 TravelPrograms $44,393 · Fundraising $750$45,143

IX-24 Other expenses (24a–d)Programs $350,862 · Management $2,112 · Fundraising $13,791$366,765

IX-24e All other expensesPrograms $47,796 · Management $27,554$75,350

IX-25 Total functional expensesPrograms $2,399,721 · Management $298,567 · Fundraising $360,397$3,058,685

Part X · Balance sheet $43,255,879 assets, 14 lines filed

X-2 Savings and temporary cash investmentsStart of year $333,182$877,790

X-3 Pledges and grants receivableStart of year $1,268,535$1,145,561

X-10c Land, buildings and equipment, netStart of year $0$0

X-11 Publicly traded securitiesStart of year $35,821,183$40,153,112

X-15 Other assetsStart of year $1,174,570$1,079,416

X-16 Total assetsStart of year $38,603,483$43,255,879

X-17 Accounts payable and accrued expensesStart of year $197,888$735,497

X-18 Grants payableStart of year $329,428$204,428

X-25 Other liabilitiesStart of year $425,444$352,304

X-26 Total liabilitiesStart of year $952,760$1,292,229

X-27 Net assets without donor restrictionsStart of year $3,054,996$4,514,130

X-28 Net assets with donor restrictionsStart of year $34,595,727$37,449,520

X-32 Total net assets or fund balancesStart of year $37,650,723$41,963,650

X-33 Total liabilities and net assetsStart of year $38,603,483$43,255,879

Part XI · Reconciliation of net assets $41,963,650 net assets at year end

XI-1 Total revenue$3,438,035

XI-2 Total expenses$3,058,685

XI-3 Revenue less expenses$379,350

XI-4 Net assets at start of year$37,650,723

XI-5 Net unrealized gains (losses) on investments$3,933,426

XI-9 Other changes in net assets$151

XI-10 Net assets at end of year$41,963,650

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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Rhode Island College Foundation FY2023 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Compensation history total reportable pay by year · 2 named individuals · Part VII

Questions the 990 asks

Programs and updates

Questions for Rhode Island College Foundation

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV