philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Slater Technology Fund INC FY2023 filing

Tax-deductible

Providence, RI501(c)(3)Science & Technology EIN 06-1493673Revenue $818K in FY2023Latest return filed Jan 21, 2026

On file with the IRSslaterfund.comProvidence, RITax-exempt since Dec 1998Publicly supported charity — 170(b)(1)(A)(vi)

Claim this org

(tell your story, add context, and more) Claim it free, then get the verified mark for $500 a year.

How does your 990 look to donors? Take the 10-Question Audit

To promote scientific research and development in the areas of biomedical and informational technologies in the state of rhode island; and to support job creation and other economic activity in rhode island based on such technologies. Small businesses in the state of rhode island, or individuals planning to form such businesses, are eligible to apply for grant, equity, and loan awards from the Fund.

501(c)(3) charity; gifts are tax-deductible.
95¢ of each $1 spent went to programs.
$517K 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

FY2023 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $538K a year · 17% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$517K
to officers and key staff · 22% of spending
Worth a look: pay to officers and key staff is 22% of spending; over 20%.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Plus $12.5M in investments, Pt X · Ln 11–13
Fine: 1.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$143K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$818K
-61% vs prior year
Spent
$2.4M
To programs
95%
Net assets
$14.1M
By yearFY2020–FY2025
Revenue
$818K
FY2023▼ -61%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.3M
FY2021$8.0M
FY2022$2.1M
FY2023$818K
FY2024$2.4M
FY2025$2.9M
Expenses
$2.4M
FY2023▼ -11%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.4M
FY2021$3.6M
FY2022$2.7M
FY2023$2.4M
FY2024$2.8M
FY2025$2.5M
Net assets
$14.1M
FY2023▼ -10%
Tap a bar for its year
Net assets by fiscal year
FY2020$11.8M
FY2021$16.2M
FY2022$15.6M
FY2023$14.1M
FY2024$14.5M
FY2025$15.2M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

Give Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1998.

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

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $2.3M Management & general 5% · $120K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

11 people listed on the 990; $517K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Thorne Sparkman III
President/Managing Directo
$307,859Pt VII · Sec A
$209,494Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Larry Larson
Chairman
$0Pt VII · Sec A
Nancy Gray
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Thorne Sparkman III’s $292K as President/Managing Directo is at the 85th percentile of top reported officer pay among 363 $1–10M science & technology 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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Thorne Sparkman III$292,231$307,859$307,859$407,365$287,797$217,846
Robert Chatham$212,048$209,494$209,494$183,982$111,154—

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 Slater Technology Fund INC executive salaries →

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

Funds biomedical and informational tech research, creating jobs and supporting Rhode Island businesses.

Questions for Slater Technology Fund INC

Tap to ask. Slater Technology Fund INC sees how many people are interested.

Your first name shows with your question. Slater Technology Fund INC answers here, for everyone.

3 programs · $2.3M · in their own filed words · FY2022
01

Venture Support

Provided technical, business development assistance, and public relations to over sixty (60) qualifying entities.

$1.1Mprogram expense
02

Technology Development Loans

Awarded loans to four (4) R.I. Companies in order to promote scientific research and development in the biomedical technology, information technology, and energy industries.

$763Kprogram expense
03

Equity Investments in Qualified Companies

Invested in four (4) R.I. Qualified companies in order to provide them with the capital infusion necessary to introduce products in rhode island.

$386Kprogram expense

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$818K
Ln 12
Fees for servicesLn 2g$350K
Gifts and grantsLn 1h$333K
Investment incomeLn 3$125K
Money outPt IX
$2.4M
Ln 25
Programscol B$2.3M
Managementcol C$120K
Owns and owesPt X
$14.1M
net assets · Ln 32
Cash and savingsLn 1–2$338K
Total assetsLn 16$14.2M
LiabilitiesLn 26$143K
PeoplePt VI, VII
11
listed · VII A
PaidVII A2
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$333K
Government grantsLn 1e$333K
Fees for servicesLn 2g$350K
Investment incomeLn 3$125K
Other incomeLn 4–11$9K
Total revenueLn 12$818K
Assets in detailPt X, end of year
CashLn 1$14K
SavingsLn 2$324K
Cash and savings togetherLn 1–2$338K
Accounts receivableLn 4$319K
Notes and loans receivableLn 7$1.1M
Prepaid expenses and deferred chargesLn 9$33K
InvestmentsLn 11–13$12.5M
Total assetsLn 16$14.2M
LiabilitiesLn 26$143K
Net assetsLn 32$14.1M
OperationsPt I, VI
EmployeesI 53
VolunteersI 69
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
LineStart FY23End FY23
Cash and savingsLn 1–2$9.9M$338K
InvestmentsLn 11–13$4.8M$12.5M
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$15.9M$14.2M
LiabilitiesLn 26$330K$143K
Net assetsLn 32$15.6M$14.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$600K$558K$42K
Other salaries and wagesLn 7$112K$80K$32K
Pension plan contributionsLn 8$9K$7K$2K
Other employee benefitsLn 9$16K$12K$4K
Payroll taxesLn 10$33K$29K$4K
Legal feesLn 11b$78K$78K
Accounting feesLn 11c$33K$33K
Other fees for servicesLn 11g$138K$136K$2K
Advertising and promotionLn 12$40K$39K$1K
Office expensesLn 13$34K$32K$1K
Information technologyLn 14$24K$23K$1K
OccupancyLn 16$51K$44K$7K
TravelLn 17$18K$18K$736
Conferences, conventions and meetingsLn 19$2K$2K
InsuranceLn 23$30K$7K$23K
Other expenses (24a–d)Ln 24$1.2M$1.2M
Total functional expensesLn 25$2.4M$2.3M$120K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Jan 21, 2026 $2.9M$2.5M$441K$15.2M 990 PDF
FY2024Filed with the IRS May 14, 2025 $2.4M$2.8M−$448K$14.5M 990 PDF
FY2023 ViewingFiled with the IRS May 13, 2024 $818K$2.4M−$1.6M$14.1M 990 PDF
FY2022Filed with the IRS May 15, 2023 $2.1M$2.7M−$584K$15.6M 990 PDF
FY2021Filed with the IRS May 9, 2022 $8.0M$3.6M$4.4M$16.2M 990 PDF
FY2020Filed with the IRS May 17, 2021 $3.3M$2.4M$958K$11.8M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $818,045 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $134,238$333,450
I-9 Program service revenuePrior year $333,156$349,938
I-10 Investment incomePrior year −$33,902$125,248
I-11 Other revenuePrior year $1,659,426$9,409
I-12 Total revenuePrior year $2,092,918$818,045
I-13 Grants and similar amounts paidPrior year $4,000$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $876,354$770,423
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,796,277$1,604,153
I-18 Total expensesPrior year $2,676,631$2,374,576
I-19 Revenue less expensesPrior year −$583,713−$1,556,531
Part VI · Governance 9 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-2 Family or business relationship among officers or directorsNo
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 $818,045 across 6 lines filed
VIII-1e Government grants$333,450
VIII-1h Total contributions, gifts and grants$333,450
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $349,938$349,938
VIII-3 Investment incomeExcluded from tax $125,248$125,248
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $9,409$9,409
VIII-12 Total revenueRelated to mission $349,938 · Unrelated business $0 · Excluded from tax $134,657$818,045
Part IX · Statement of functional expenses $2,374,576 across 16 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $558,427 · Management $42,032$600,459
IX-7 Other salaries and wagesPrograms $79,619 · Management $31,934$111,553
IX-8 Pension plan contributionsPrograms $7,179 · Management $2,068$9,247
IX-9 Other employee benefitsPrograms $12,007 · Management $4,039$16,046
IX-10 Payroll taxesPrograms $29,475 · Management $3,643$33,118
IX-11b Legal feesPrograms $77,968$77,968
IX-11c Accounting feesPrograms $32,575$32,575
IX-11g Other fees for servicesPrograms $136,374 · Management $2,036$138,410
IX-12 Advertising and promotionPrograms $39,060 · Management $1,350$40,410
IX-13 Office expensesPrograms $32,319 · Management $1,416$33,735
IX-14 Information technologyPrograms $23,138 · Management $1,174$24,312
IX-16 OccupancyPrograms $44,127 · Management $6,738$50,865
IX-17 TravelPrograms $17,565 · Management $736$18,301
IX-19 Conferences, conventions and meetingsPrograms $1,845$1,845
IX-23 InsurancePrograms $6,827 · Management $22,861$29,688
IX-24 Other expenses (24a–d)Programs $1,156,044$1,156,044
IX-25 Total functional expensesPrograms $2,254,549 · Management $120,027 · Fundraising $0$2,374,576
Part X · Balance sheet $14,231,172 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $38,029$13,580
X-2 Savings and temporary cash investmentsStart of year $9,816,679$324,310
X-4 Accounts receivableStart of year $246,504$319,276
X-7 Notes and loans receivableStart of year $1,019,276$1,088,701
X-9 Prepaid expenses and deferred chargesStart of year $29,146$32,739
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $59,294$6,935,363
X-13 Program-related investmentsStart of year $4,706,375$5,517,203
X-16 Total assetsStart of year $15,915,303$14,231,172
X-17 Accounts payable and accrued expensesStart of year $330,245$143,149
X-26 Total liabilitiesStart of year $330,245$143,149
X-27 Net assets without donor restrictionsStart of year $15,585,058$14,088,023
X-32 Total net assets or fund balancesStart of year $15,585,058$14,088,023
X-33 Total liabilities and net assetsStart of year $15,915,303$14,231,172
Part XI · Reconciliation of net assets $14,088,023 net assets at year end
XI-1 Total revenue$818,045
XI-2 Total expenses$2,374,576
XI-3 Revenue less expenses−$1,556,531
XI-4 Net assets at start of year$15,585,058
XI-5 Net unrealized gains (losses) on investments$59,496
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$14,088,023

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

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.