GROW SMART RHODE ISLAND

EIN: 050499148 501(c)(3) Arts, Culture & Humanities

PROVIDENCE, RI

Total Revenue
$626,650
Total Expenses
$703,006
Total Assets
$201,550
Net Assets
$7,463
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
RI
Principal Officer
J SCOTT WOLF
Phone
4012583125
Tax Period
2023-01-01 to 2023-12-31

GROW SMART RHODE ISLAND, founded in 1998, is a small nonprofit in the Arts, Culture & Humanities sector that reported $627K in total revenue in fiscal year 2023. Revenue decreased 12% compared to the prior year. Expenses of $703K exceeded revenue, resulting in a 12% operating deficit.

Mission

PROMOTING SUSTAINABLE ECONOMIC GROWTH AND QUALITY OF PLACE; EDUCATING THE PUBLIC ON GROWTH AND DEVELOPMENT POLICY OPTIONS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $332,223
Program Service Revenue $291,054
Investment Income $0
Other Revenue $3,373
TOTAL REVENUE $626,650

Expense Breakdown

Grants Paid $0
Salaries & Benefits $554,875
Fundraising Expenses $143,228
Program Expenses $337,085
Other Expenses $148,131
TOTAL EXPENSES $703,006

Year-over-Year Comparison

2023 2022 Change
Revenue $626,650 $710,862 -0.1%
Expenses $703,006 $733,646 0.0%
Net Income $-76,356 $-22,784 +2.4%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
30
Independent Members
30
Employees
7
Volunteers
10

Governance Policies

✓ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✓ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$153,968
Total Directors
30
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL L FRIEDMAN CHAIR 1.00
Officer Director
$0 $0 $0
LLOYD ALBERT BOARD MEMBER 1.00
Director
$0 $0 $0
GLENN GARDINER BOARD MEMBER 1.00
Director
$0 $0 $0
SHARON D CONARD WELLS BOARD MEMBER 1.00
Director
$0 $0 $0
MICHAEL A DECATALDO TREASURER 1.00
Officer Director
$0 $0 $0
TRUDY COXE BOARD MEMBER 1.00
Director
$0 $0 $0
KAREN GRANDE BOARD MEMBER 1.00
Director
$0 $0 $0
MURAINA AKINFOLARIN BOARD MEMBER 1.00
Director
$0 $0 $0
BRIAN GOLDBERG BOARD MEMBER 1.00
Director
$0 $0 $0
JUSTIN SAVAGE BOARD MEMBER 1.00
Director
$0 $0 $0
DR WILLIAM HOLLINSHEAD BOARD MEMBER 1.00
Director
$0 $0 $0
ERIC BUSCH BOARD MEMBER 1.00
Director
$0 $0 $0
JUSTIN DUFRESNE BOARD MEMBER 1.00
Director
$0 $0 $0
KYLE LYNCH BOARD MEMBER 1.00
Director
$0 $0 $0
JASON E KELLY BOARD MEMBER 1.00
Director
$0 $0 $0
DANIEL A BAUDOUIN BOARD MEMBER 1.00
Director
$0 $0 $0
CRISTEN RAUCCI BOARD MEMBER 1.00
Director
$0 $0 $0
NICHOLAS ROACH VICE CHAIR 1.00
Officer Director
$0 $0 $0
JAMES DIOSSA BOARD MEMBER 1.00
Director
$0 $0 $0
GEORGE WATSON III BOARD MEMBER 1.00
Director
$0 $0 $0
MARY ETTINGER BOARD MEMBER 1.00
Director
$0 $0 $0
EUGENIO FERNANDEZ BOARD MEMBER 1.00
Director
$0 $0 $0
JOHN CHAMBERS BOARD MEMBER 1.00
Director
$0 $0 $0
GAIL E MCCANN BOARD MEMBER 1.00
Director
$0 $0 $0
MAUREEN MOAKLEY BOARD MEMBER 1.00
Director
$0 $0 $0
MARCUS MITCHELL SECRETARY 1.00
Officer Director
$0 $0 $0
NANCY PARKER WILSON BOARD MEMBER 1.00
Director
$0 $0 $0
DAVID EASTERBROOKE BOARD MEMBER 1.00
Director
$0 $0 $0
REBECCA RILEY BOARD MEMBER 1.00
Director
$0 $0 $0
LESLIE MOORE BOARD MEMBER 1.00
Director
$0 $0 $0
J SCOTT WOLF EXECUTIVE DIRECTOR 40.00
Officer
$133,749 $20,219 $153,968
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $626,650 $703,006 $201,550 $-76,356
2022 $710,862 $733,646 $150,905 $-22,784
2021 $645,662 $575,354 $118,778 $70,308
2020 $578,566 $609,567 $111,631 $-31,001
2019 $599,619 $601,041 $130,879 $-1,422
2018 $602,307 $630,318 $117,639 $-28,011
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