Rhode Island College Foundation

Nonprofit profile at a glance

EIN
056049721
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Providence, RI, USA
Phone
4014568407
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Undergraduate College (4-year)

Official website

Reported finances

Revenue
$6,507,300
Expenses
$4,003,265
Assets
$54,347,107
Liabilities
$486,821

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

19 people listed

Executive titles in this filing

  • ERIC SHOEN (EXECUTIVE DIRECTOR)
  • ALAN TENREIRO (BOARD PRESIDENT)
  • ANNE SLINEY (BOARD VICE PRESIDENT)
  • JOYCE STEVOS (IMMEDIATE PAST PRESIDENT)

People named in this filing

  • ERIC SHOEN (EXECUTIVE DIRECTOR)
  • ALAN TENREIRO (BOARD PRESIDENT)
  • ANNE SLINEY (BOARD VICE PRESIDENT)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To encourage and receive private and public support to enhance and expand Rhode Island college's continued tradition of educational excellence. The foundation provides support for scholarships, faculty research grants, capital improvements, lecturers and other programs.

What it reported doing in 2024

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.

Operating model

Revenue model
Donor-supported. 76% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 66% of its reported program spending out as grants.

The verdict

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 90
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.6%; rating input score 65
  • Program expense ratio: 80.9%; rating input score 81
  • Fundraising efficiency: $16.51 raised per $1 spent on fundraising; rating input score 54; 54th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 38.5%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 13.58; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 86; 86th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 3.4% per year; rating input score 100; 30th percentile among comparable filings
  • Revenue growth: 4.2% per year; rating input score 100; 36th percentile among comparable filings
  • Asset growth: 5.9% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: 64.6% of revenue deployed · 80.9% of spending went to programs
  • Governance: 18 of 18 board members independent · 7 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $3.2M in reported program spending
  • Leadership: top reported pay $0 · 19 people listed
  • Highest-paid contractors: 1 contractor listed · $139K reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 8 filed schedules · includes major donors and grants
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Fundraising efficiency scored 54/100.