THE DOWNCITY PARTNERSHIP INC

EIN: 050514476 501(c)(3) Philanthropy & Grantmaking

PROVIDENCE, RI

Total Revenue
$155,018
Total Expenses
$256,083
Total Assets
$2,756,943
Net Assets
$2,749,802
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2001
Legal Domicile
RI
Principal Officer
DAVID CICILLINE
Phone
4012744564
Tax Period
2023-01-01 to 2023-12-31

THE DOWNCITY PARTNERSHIP INC, founded in 2001, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $155K in total revenue in fiscal year 2023. Revenue fell 35% from the prior year — a significant decline worth monitoring. Expenses of $256K exceeded revenue, resulting in a 65% operating deficit.

Mission

AWARDING GRANTS AND LOANS THAT FOCUS ON STRENGTHENING AND REVITALIZING DOWNTOWN PROVIDENCE

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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 $0
Program Service Revenue $0
Investment Income $153,251
Other Revenue $1,767
TOTAL REVENUE $155,018

Expense Breakdown

Grants Paid $212,387
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $212,387
Other Expenses $43,696
TOTAL EXPENSES $256,083

Year-over-Year Comparison

2023 2022 Change
Revenue $155,018 $237,998 -0.3%
Expenses $256,083 $2,404,211 -0.9%
Net Income $-101,065 $-2,166,213 -1.0%
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

Financial Distress Indicator

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
13
Independent Members
13
Employees
N/A
Volunteers
13

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
$1,164,613
Total Directors
13
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
G ALAN KUROSE MD MBA FACP BOARD CHAIR 0.30
Officer Director
$0 $0 $0
JANET ROBINSON SECRETARY 0.30
Officer Director
$0 $0 $0
MICHAEL K ALLIO DIRECTOR 0.30
Director
$0 $0 $0
CARRIE BRIDGES FELIZ MPH DIRECTOR 0.30
Director
$0 $0 $0
MELISSA R DUBOSE DIRECTOR 0.30
Director
$0 $0 $0
JONATHAN D FAIN DIRECTOR 0.30
Director
$0 $0 $0
EDWARD O HANDY III DIRECTOR 0.30
Director
$0 $0 $0
ANN-MARIE HARRINGTON DIRECTOR 0.30
Director
$0 $0 $0
MEGHAN HUGHES PHD DIRECTOR 0.30
Director
$0 $0 $0
TONY MENDEZ DIRECTOR 0.30
Director
$0 $0 $0
THERESA MOORE DIRECTOR 0.30
Director
$0 $0 $0
PETER R PHILLIPS DIRECTOR 0.30
Director
$0 $0 $0
JAMES WRIGHT DIRECTOR 0.30
Director
$0 $0 $0
NEIL STEINBERG PRESIDENT (THRU 5/23) 0.80
Officer
$0 $41,572 $466,576
DAVID CICILLINE PRESIDENT (AS OF 6/23) 0.80
Officer
$0 $11,415 $398,955
JENNIFER REID TREASURER 0.80
Officer
$0 $1,712 $299,082
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 $155,018 $256,083 $2,756,943 $-101,065
2022 $237,998 $2,404,211 $2,864,610 $-2,166,213
2021 $274,748 $803,095 $5,049,682 $-528,347
2020 $168,614 $378,023 $5,704,476 $-209,409
2019 $272,740 $411,669 $5,810,515 $-138,929
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