Overview
What is Rhode Island Manufacturing Institute?
The Rhode Island Manufacturing Institute, identified as WE MAKE RI, is a nonprofit organization located in Cranston, Rhode Island. Their primary mission is to support local manufacturing businesses by offering educational resources at an affordable cost. These resources include job placement, training, skill certifications, and customized curriculum development. They also have an accelerator program aimed at helping small product developers turn their ideas into full-time entrepreneurships, with mentorship from various associations like the Rhode Island Manufacturers Association and the RI Society of CPA's. Accelerator partners receive guidance to grow their businesses, with the goal of becoming fully self-employed within 36 months with another full-time employee. Manufacturers in the accelerator program also gain premium access to WE MAKE RI's manufacturing services like assembly, warehousing, shipping, and packing at reduced fees. Overall, the Rhode Island Manufacturing Institute serves to bolster the local manufacturing sector with business and educational services.
Official website here: www.wemakeri.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Star rating)
The Rhode Island Manufacturing Institute has achieved an impressive Four-Star rating from Charity Navigator, reflective of its strong commitment to accountability and finance. With a score of 94%, the organization is noted for having a completely independent board and demonstrating effective financial oversight practices. This high rating indicates a robust structure that prioritizes transparency and responsible management of its resources.
Strengths highlighted in their evaluation include a fully independent board of directors and a comprehensive set of policies addressing conflict of interest, whistleblower protections, and document retention. Additionally, the organization's financial health is evident in its low liabilities to assets ratio and a high program expense ratio, suggesting that a significant portion of its resources is directed toward its mission-driven activities rather than administrative costs.
While the organization has shown strong performance in financial accountability, it is essential to note that the rating is based solely on financial metrics. Potential donors and stakeholders may wish to look further into the impact of its programs and services to gain a complete understanding of the nonprofit's effectiveness in achieving its mission.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Rhode Island Manufacturing Institute?
88% of five reviewers on Facebook recommend the Rhode Island Manufacturing Institute. Here is a summary of their reviews:
Many users highlight this organization as a valuable resource for the community, often describing it as a "hidden gem." The services offered are considered beneficial for the state, indicating a strong appreciation for the institute's contributions to the local manufacturing sector.
Overall, the sentiment suggests that the Rhode Island Manufacturing Institute effectively meets the needs of its audience, earning positive recognition for its dedicated efforts in fostering skills and opportunities in manufacturing.
This AI summary has been generated from reviews found on Facebook.
Is Rhode Island Manufacturing Institute legitimate?
Rhode Island Manufacturing Institute is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rhode Island Manufacturing Institute submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $117,603
Professional Fundraising Fees: $0
Other Salaries and Wages: $441,961
For more financial information, click here
Official website here: www.wemakeri.com
What is the mission statement of Rhode Island Manufacturing Institute?
The Rhode Island Manufacturing Institute's mission is centered around providing business and educational services to various entities and individuals. Its primary aim is to offer manufacturing businesses affordable educational resources for their employees, which include job placement, training, skill certifications, and customized curriculum development. The institute also operates the We Make RI Manufacturing Accelerator program, designed to support small product developers who aspire to transform their ideas into full-time entrepreneurships. Accelerator partners are paired with mentors from various organizations, guiding them through the growth process with the goal of becoming self-employed within 36 months, employing another full-time individual. Manufacturers participating in the accelerator program also gain premier access to the institute's manufacturing services like assembly, warehousing, shipping, and packing at reduced fees.
Official website here: www.wemakeri.com
Who is the CEO of Rhode Island Manufacturing Institute?
Barbara Jackson is the Director of Rhode Island Manufacturing Institute.
Official website here: www.wemakeri.com
What is the revenue of Rhode Island Manufacturing Institute?
Rhode Island Manufacturing Institute's revenue in 2023 was $1,013,281.
Official website here: www.wemakeri.com
Who are the executives of Rhode Island Manufacturing Institute and what are their salaries?
The average compensation at Rhode Island Manufacturing Institute during 2023 was $37,304. There are 15 employees at Rhode Island Manufacturing Institute.
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Official website here: www.wemakeri.com
Where can I find the form 990 for Rhode Island Manufacturing Institute?
Rhode Island Manufacturing Institute's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.wemakeri.com
Learn more at the official website: www.wemakeri.com
Mission Statement of Rhode Island Manufacturing Institute
The Rhode Island Manufacturing Institute, a notable organization, is dedicated to providing business and educational services to various business entities and individuals. Its primary mission is to offer resources at the most affordable cost to manufacturing businesses, encompassing job placement, training, skill certifications, and customized curriculum development. The institute also hosts the We Make RI Manufacturing Accelerator Program, designed for small product developers aiming to advance their ideas into full-time entrepreneurships. These participants are paired with mentors from esteemed organizations, including the Rhode Island Manufacturers Association, RI Society of CPA's, the Business Development Company, and We Make RI. These mentors guide the accelerator partners through the necessary steps and requirements to grow their businesses, with the goal of becoming self-employed with another full-time employee within 36 months. Manufacturers participating in the accelerator program also benefit from premier access to We Make RI's manufacturing services like assembly, warehousing, shipping, and packing at a reduced fee.
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Impact
October, 2024
The Rhode Island Manufacturing Institute plays a pivotal role in enhancing the state's manufacturing sector by delivering essential business and educational services tailored to both businesses and individuals. Through its initiatives, it empowers manufacturing companies with valuable resources, including training, skill certifications, and customized curriculum development—all at minimal costs.
A key program, the We Make RI Manufacturing Accelerator, supports small product developers by connecting them with experienced mentors from various professional organizations, including the Rhode Island Manufacturers Association and the RI Society of CPA's. This mentorship helps entrepreneurs navigate the complexities of growing their businesses, with an aim to transition into full-time self-employment often within three years.
Additionally, the institute enhances the operational capabilities of manufacturers involved in the accelerator program by offering access to essential manufacturing services such as assembly, warehousing, shipping, and packing at discounted rates. This comprehensive approach not only supports individual entrepreneurs but also strengthens the wider manufacturing ecosystem in Rhode Island, fostering economic growth and job creation in the region.
This information is meant to be a general summary of Rhode Island Manufacturing Institute. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $4,717
- Gross Receipts: $1,045,668
Assets and Liabilities:
- Total Assets: $689,500
- Total Liabilities: $320,104
- Net Assets: $369,396
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Organization Details
Founding Year
2014
Phone
(401) 232-0077Principal Officer
Barbara Jackson
Main Address
200 FIRST AVE, CRANSTON, RI, 02910
Website
www.wemakeri.comNTEE Category
Code: B60 - Education
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