HAFFENREFFER FAMILY FUND

EIN: 056012787 501(c)(3) Philanthropy & Grantmaking

PROVIDENCE, RI

Total Revenue
$540,231
Total Expenses
$1,042,464
Total Assets
$15,381,550
Net Assets
$15,381,550
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1987
Legal Domicile
RI
Principal Officer
DAVID CICILLINE
Phone
4012744564
Tax Period
2023-01-01 to 2023-12-31

HAFFENREFFER FAMILY FUND, founded in 1987, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $540K in total revenue in fiscal year 2023. Revenue surged 21% from the prior year, signaling strong growth momentum. Expenses of $1.0M exceeded revenue, resulting in a 93% operating deficit.

Mission

A SECTION 509(A)(3) SUPPORTING ORGANIZATION OF THE RHODE ISLAND COMMUNITY FOUNDATION.

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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 $540,231
Other Revenue $0
TOTAL REVENUE $540,231

Expense Breakdown

Grants Paid $933,998
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $933,998
Other Expenses $108,466
TOTAL EXPENSES $1,042,464

Year-over-Year Comparison

2023 2022 Change
Revenue $540,231 $445,751 +0.2%
Expenses $1,042,464 $966,772 +0.1%
Net Income $-502,233 $-521,021 0.0%
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

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Liquidity & Cash Position

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Governance

Voting Members
13
Independent Members
6
Employees
N/A
Volunteers
7

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
4
$1,164,613
Total Directors
16
$2,189,254
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
NEIL STEINBERG SECRETARY (THRU 12/12/2023) 0.80
Officer Director
$0 $41,572 $466,576
DAVID CICILLINE SECRETARY (AS OF 12/12/2023) 0.80
Officer Director
$0 $11,415 $398,955
JENNIFER REID TREASURER 0.80
Officer Director
$0 $1,712 $299,082
BRIDGET BARATTA TRUSTEE 0.30
Director
$0 $35,207 $274,118
DANIEL KERTZNER TRUSTEE 0.30
Director
$0 $29,191 $205,930
CHRISTINE PELLEGRI TRUSTEE 0.30
Director
$0 $35,120 $183,473
KELLY RILEY TRUSTEE (AS OF 12/12/2023) 0.80
Director
$0 $36,183 $159,463
PAMELA TESLER HOWITT TRUSTEE (THRU 12/12/2023) 0.30
Director
$0 $14,702 $100,908
ADRIAN BONEY TRUSTEE 0.30
Director
$0 $19,617 $100,749
KRISTEN HAFFENREFFER CHAIRPERSON 0.30
Officer Director
$0 $0 $0
JEAN HAFFENREFFER BAKER TRUSTEE (THRU 12/12/2023) 0.30
Director
$0 $0 $0
DAVID HAFFENREFFER TRUSTEE 0.30
Director
$0 $0 $0
KARL HAFFENREFFER TRUSTEE 0.30
Director
$0 $0 $0
NICHOLAS HAFFENREFFER TRUSTEE 0.30
Director
$0 $0 $0
RUDOLF F HAFFENREFFER IV TRUSTEE 0.30
Director
$0 $0 $0
CAROLYN BAKER DORSEY TRUSTEE (AS OF 12/12/2023) 0.30
Director
$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 No data No data No data No data
2023 $540,231 $1,042,464 $15,381,550 $-502,233
2022 $445,751 $966,772 $14,480,422 $-521,021
2021 $1,362,058 $869,859 $17,215,942 $492,199
2020 $514,977 $962,993 $14,990,480 $-448,016
2019 $641,932 $917,427 $14,330,727 $-275,495
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