The Westerly Revolving Fund Inc

Nonprofit profile at a glance

EIN
352465487
IRS 990-EZ coverage
2013–2025
Forms available
Form 990 2021, Form 990-EZ 2025
Location
Westerly, RI, USA
Phone
8604600930
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Historical Societies, Related Historical Activities

Reported finances

Revenue
$248
Expenses
$971
Assets
$30,268

Source: IRS Form 990-EZ. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • LOUIS W GINGERELLA JR (President)

People named in this filing

  • LOUIS W GINGERELLA JR (President)
  • MICHAEL J BEDDARD (Director)
  • MARCIA FELBER (Director)

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

Source: IRS Form 990-EZ. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To preserve historical heritage of westerly and stimulate community revitalization.

What it reported doing in 2025

Community revitalization program - in april 2019, the organization purchased a mixed-use historic property in need of renovation at 134 main st, westerly, ri. The organization began the renovations immediately. All related expenditures were capitalized and the completed project was sold on july 1, 2021.

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of total spending goes to programs and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 82
  • Sustainability: 37
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 40.2%; rating input score 40

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -291.5%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 31.17; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -10.7% per year; rating input score 0; 27th percentile among comparable filings
  • Revenue growth: -89.7% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -4.2% per year; rating input score 0; 26th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 40.2% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 2 filed program accomplishments · $390 in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 6 of 6 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 9 filing years from 2013 to 2025
  • Contacts: How to reach this organization
  • 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.

Key Signals

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

  • Moderate — Financial Efficiency: Program expense ratio scored 40/100.
  • High — Sustainability: Operating margin scored 4/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.