PRESERVE RHODE ISLAND

EIN: 056012417 501(c)(3) Arts, Culture & Humanities

PROVIDENCE, RI

Total Revenue
$1,121,411
Total Expenses
$1,413,230
Total Assets
$11,373,230
Net Assets
$10,889,992
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Financial Trends

Organization Details

Formation Year
1956
Legal Domicile
RI
Principal Officer
SHERYL HACK
Phone
4012725101
Tax Period
2024-01-01 to 2024-12-31

PRESERVE RHODE ISLAND, founded in 1956, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.1M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $1.4M exceeded revenue, resulting in a 26% operating deficit.

Mission

PRESERVE RI'S VISION IS A FUTURE WHERE HISTORIC PRESERVATION CREATES POSITIVE CHANGE, MAKING OUR DIVERSE CULTURES, THE ENVIRONMENT, AND THE ECONOMY BETTER FOR THE PEOPLE WHO LIVE, VISIT AND WORK IN RHODE ISLAND. PRESERVE RI'S MISSION IS TO PROTECT AND ACTIVATE HISTORIC PLACES FOR THE BENEFIT OF ALL RHODE ISLANDERS.

Program Service Accomplishments

Program 1
Expenses: $452,225 Revenue: $19,700

STEWARDSHIP: PRESERVE RI OWNS THREE PROPERTIES, DEMONSTRATING THE CONTINUING CONTRIBUTIONS THAT HISTORIC BUILDINGS MAKE TODAY, PLACING THEM IN ACTIVE USES AND UNDERTAKING MAINTENANCE AND CAPITAL...

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STEWARDSHIP: PRESERVE RI OWNS THREE PROPERTIES, DEMONSTRATING THE CONTINUING CONTRIBUTIONS THAT HISTORIC BUILDINGS MAKE TODAY, PLACING THEM IN ACTIVE USES AND UNDERTAKING MAINTENANCE AND CAPITAL INVESTMENTS TO KEEP THEM IN GOOD REPAIR. PRESERVE RI NOW HOLDS NINE PRESERVATION EASEMENTS ON PROPERTIES OWNED BY OTHERS, AND MONITORS BUILDING CONDITIONS TO PROVIDE STEWARDSHIP OVERSIGHT. PRESERVE RI HELPS OTHER NONPROFIT ORGANIZATIONS TAKE CARE OF HISTORIC PROPERTIES BY OFFERING STEWARDSHIP SERVICES.

Program 2
Expenses: $366,350 Revenue: $30,000

DIRECT PRESERVATION: PRESERVE RI TAKES DIRECT ACTION TO PROTECT AND ENHANCE HISTORIC PLACES THROUGH ITS REVOLVING FUND PROGRAM, BY ACQUIRING EASEMENTS, AND BY COLLABORATING ON SPECIAL PROJECTS SUCH...

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DIRECT PRESERVATION: PRESERVE RI TAKES DIRECT ACTION TO PROTECT AND ENHANCE HISTORIC PLACES THROUGH ITS REVOLVING FUND PROGRAM, BY ACQUIRING EASEMENTS, AND BY COLLABORATING ON SPECIAL PROJECTS SUCH AS THE AQUIDNECK STONEWALL INITIATIVE AND THE SCENIC THIRD BEACH PROJECT. IN 2021 PRESERVE RI TOOK ON ITS MOST AMBITIOUS REVOLVING FUND PROJECT TO DATE AT THE C 1696 VALENTINE WHITMAN HOUSE IN LINCOLN, RI.

Program 3
Expenses: $173,171 Revenue: $24,342

ENGAGE: PRESERVE RI MOTIVATES PEOPLE TO CONNECT WITH HISTORIC PLACES AND MAKES THE CASE FOR SAFEGUARDING RHODE ISLAND'S HISTORIC PLACES. PRESERVE RI IS A LEADING VOICE FOR HISTORIC PRESERVATION...

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ENGAGE: PRESERVE RI MOTIVATES PEOPLE TO CONNECT WITH HISTORIC PLACES AND MAKES THE CASE FOR SAFEGUARDING RHODE ISLAND'S HISTORIC PLACES. PRESERVE RI IS A LEADING VOICE FOR HISTORIC PRESERVATION, HELPING PEOPLE PRESERVE THE PLACES THAT MATTER TO THEM THROUGH OUR COMMUNITY PRESERVATION RESPONSE PROGRAM. PRESERVE RI CELEBRATES PEOPLE AND PROJECTS THAT EXEMPLIFY THE BEST OF HISTORIC PRESERVATION. MUSEUM PROGRAMMING AT LIPPITT HOUSE MUSEUM CONNECTS DIVERSE COMMUNITIES AND WHILE FACILITATING OTHER PRESERVATION PROGRAMS IN COLLABORATION WITH OTHER GROUPS.

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $591,743
Program Service Revenue $74,042
Investment Income $380,060
Other Revenue $75,566
TOTAL REVENUE $1,121,411

Expense Breakdown

Grants Paid $0
Salaries & Benefits $604,416
Fundraising Expenses $206,789
Program Expenses $991,746
Other Expenses $806,989
TOTAL EXPENSES $1,413,230

Year-over-Year Comparison

2024 2023 Change
Revenue $1,121,411 $1,029,621 +0.1%
Expenses $1,413,230 $1,140,513 +0.2%
Net Income $-291,819 $-110,892 +1.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
25
Independent Members
25
Employees
10
Volunteers
N/A

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
7
$95,370
Total Directors
25
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SHEILA BRUSH TRUSTEE 1.00
Director
$0 $0 $0
KRISTIN DEKUIPER TRUSTEE 1.00
Director
$0 $0 $0
WILLIAM W KENYON SECRETARY 1.00
Officer Director
$0 $0 $0
ELIZABETH GODDARD TRUSTEE 1.00
Director
$0 $0 $0
MICHAEL SHERRY TRUSTEE 1.00
Director
$0 $0 $0
THERESA GUZMAN STOKES TRUSTEE 1.00
Director
$0 $0 $0
ROSALIND WEIR TRUSTEE 1.00
Director
$0 $0 $0
JOHN WOOLSEY CO CHAIRPERSON 1.00
Officer Director
$0 $0 $0
REBECCA J BERTRAND CO CHAIRPERSON 1.00
Officer Director
$0 $0 $0
ABIGAIL CAMPBELL-KING TRUSTEE 1.00
Director
$0 $0 $0
KRISTEN A CARRON ESQ TRUSTEE 1.00
Director
$0 $0 $0
JERRY W DAUTERIVE PHD TRUSTEE 1.00
Director
$0 $0 $0
AMY OAKLEY TRUSTEE 1.00
Director
$0 $0 $0
BRETT N PELLETIER TRUSTEE 1.00
Director
$0 $0 $0
CHRISTOPHER G PONDER CO CHAIRPERSON 1.00
Officer Director
$0 $0 $0
KATHLEEN A RYAN ESQ TRUSTEE 1.00
Director
$0 $0 $0
AMY SONDER TRUSTEE 1.00
Director
$0 $0 $0
KIMBERLY SMITH BARNETT TREASURER 1.00
Officer Director
$0 $0 $0
ERICA LUKE TRUSTEE 1.00
Director
$0 $0 $0
JENNIFER SUELLENTROP TRUSTEE 1.00
Director
$0 $0 $0
JAMES MICHAEL ABBOTT TRUSTEE 1.00
Director
$0 $0 $0
DAVID ABBOTT TRUSTEE 1.00
Director
$0 $0 $0
JEREMIHA E DE RHAM TRUSTEE 1.00
Director
$0 $0 $0
RONALD ONORATO TRUSTEE 1.00
Director
$0 $0 $0
CLARK SCHOETTLE TRUSTEE 1.00
Director
$0 $0 $0
VALERIE TALMAGE EX DIRECTOR (PAST) 40.00
Officer
$92,563 $2,807 $95,370
SHERYL HACK EX DIRECTOR (CURRENT) 40.00
Officer
$0 $0 $0
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 $1,121,411 $1,413,230 $11,373,230 $-291,819
2023 $1,029,621 $1,140,513 $10,878,639 $-110,892
2022 $737,487 $1,326,617 $11,732,452 $-589,130
2021 $1,240,667 $1,855,706 $13,440,921 $-615,039
2020 $4,482,092 $3,601,078 $13,128,578 $881,014
2019 $-249,534 $1,060,189 $11,732,034 $-1,309,723
2018 $1,101,197 $1,035,774 $11,822,020 $65,423
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