Overview
What is Rhode Island Turnpike And Bridge Foundation?
The Rhode Island Turnpike and Bridge Foundation is a charitable organization located in Jamestown, Rhode Island. Its primary purpose is to support local communities and nonprofit organizations that positively impact the lives of Rhode Islanders. They achieve this goal by generating funds through special events held on their properties throughout the year, such as the Pell Bridge Run in October 2021. These funds are then distributed to worthy organizations. The foundation fosters partnerships with local communities and nonprofits, contributing to the betterment of Rhode Islanders' lives.
Official website here: www.ritba.org/ritba-foundation
What are the reviews and ratings of this charity?
Charity Navigator Rating: 68%, Two-Star out of Four Star rating
The Rhode Island Turnpike and Bridge Foundation has received a 68% rating from Charity Navigator, indicating a moderate level of accountability and financial health. The organization benefits from a fully independent board with ten members, which contributes positively to its governance structure. Additionally, it has been recognized for having no material diversion of assets and listing its website on tax forms, showcasing transparency in its operations.
However, the foundation faces challenges in its financial metrics, particularly with a liabilities to assets ratio of 88.51%, which is concerning. This may suggest potential financial instability or a heavy reliance on liabilities for its operational expenses. While the program expense ratio is strong at 92.35%, indicating that a significant portion of its funds is directed towards its programs, the lack of certain policies, such as a whistleblower policy and document retention and destruction guidelines, may raise questions about its overall governance practices.
In summary, while the Rhode Island Turnpike and Bridge Foundation demonstrates strong governance attributes and a commitment to program funding, its financial ratios and missing policies indicate areas needing improvement. Stakeholders may want to consider these aspects when evaluating the foundation's overall effectiveness and sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Rhode Island Turnpike And Bridge Foundation legitimate?
Rhode Island Turnpike And Bridge Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rhode Island Turnpike And Bridge Foundation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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Official website here: www.ritba.org/ritba-foundation
What is the mission statement of Rhode Island Turnpike And Bridge Foundation?
The Rhode Island Turnpike and Bridge Foundation's mission is centered around supporting local communities and non-profit organizations that positively impact the lives of Rhode Islanders. This is achieved by providing funds, generated from special events held on their properties throughout the year. The foundation actively partners with these organizations, aligning their efforts with the betterment of the community's residents. In October 2021, the foundation provided funds to worthy organizations following the Pell Bridge Run.
Official website here: www.ritba.org/ritba-foundation
Who is the CEO of Rhode Island Turnpike And Bridge Foundation?
Richard O'Neill is the Chair of Rhode Island Turnpike And Bridge Foundation.
Official website here: www.ritba.org/ritba-foundation
What is the revenue of Rhode Island Turnpike And Bridge Foundation?
Rhode Island Turnpike And Bridge Foundation's revenue in 2022 was $126,806.
Official website here: www.ritba.org/ritba-foundation
Who are the executives of Rhode Island Turnpike And Bridge Foundation and what are their salaries?
There 60 volunteers at Rhode Island Turnpike And Bridge Foundation.
Here are 4 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
Official website here: www.ritba.org/ritba-foundation
Where can I find the form 990 for Rhode Island Turnpike And Bridge Foundation?
Rhode Island Turnpike And Bridge Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ritba.org/ritba-foundation
Learn more at the official website: www.ritba.org/ritba-foundation
Mission Statement of Rhode Island Turnpike And Bridge Foundation
The Rhode Island Turnpike and Bridge Foundation, in its mission, seeks to support local communities and nonprofit organizations that positively impact the lives of Rhode Islanders. By partnering with these organizations, the foundation aims to utilize the proceeds generated from special events held on its properties throughout the year. This commitment to giving back to the community is a testament to the foundation's dedication to improving the lives of its residents. In recent times, the Rhode Island Turnpike and Bridge Foundation demonstrated this mission by providing funds to worthy organizations following the Pell Bridge Run held in October 2021.
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Impact
October, 2024
The Rhode Island Turnpike and Bridge Foundation has a significant impact on local communities by providing financial support to organizations that enhance the quality of life for Rhode Islanders. Through proceeds from events like the Pell Bridge Run, the foundation generates funds that are then distributed to various worthy causes. This active engagement fosters partnerships with local organizations, amplifying their ability to make positive changes within the community. By focusing on initiatives that support human services, the foundation contributes to strengthening the social fabric of Rhode Island, ensuring that essential services and resources are accessible to those in need.
This information is meant to be a general summary of Rhode Island Turnpike And Bridge Foundation. 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 2022.
- Gross Receipts: $217,410
Assets and Liabilities:
- Total Assets: $83,455
- Total Liabilities: $73,870
- Net Assets: $9,585
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Organization Details
Founding Year
2016
Phone
(401) 423-0800Principal Officer
Richard O'Neill
Main Address
PO BOX 437, JAMESTOWN, RI, 02835
NTEE Category
Code: P20 - Human services
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