PROVIDENCE, RI
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)THE PROVIDENCE FOUNDATION, founded in 1974, is a small nonprofit that reported $528K in total revenue in fiscal year 2023. Revenue fell 36% from the prior year — a significant decline worth monitoring. Expenses of $729K exceeded revenue, resulting in a 38% operating deficit.
THE FOUNDATION ORIGINATES AND ADVOCATES POLICIES AND PROJECTS FOR THE DEVELOPMENT OF DOWNTOWN AND THE CITY OF PROVIDENCE. IT PLAYS A LEADERSHIP ROLE IN PLANNING FOR DOWNTOWN. ITS PRIMARY FOCUS IS TO CREATE AN ENVIRONMENT THAT IS CONDUCIVE TO ECONOMIC DEVELOPMENT AND SUSTAINED INVESTMENT IN DOWNTOWN AND THE CREATION OF A VIBRANT NEIGHBORHOOD. THE FOUNDATION IDENTIFIES AND ACTS UPON OPPORTUNITIES AND TARGES PROJECTS AND POLICIES THAT HAVE A CATALYTIC EFECT; AND COORDINATES PROJECTS AND GROUPS INVOLVED IN THE DOWNTOWN. THE FOUNDATION BRINGS PRIVATE SECTOR EXPERTISE TO THE DEVELOPMENT OF POLICIES, PLANS AND PROJECTS. THE FOUNDATION, WORKING WITH THE CITY, IS A GENERATOR AND KEEPER OF THE VISION FOR DOWNTOWN.
THE FOUNDATION OPERATES VARIOUS PROGRAMS AND LONG-TERM VISIONARY PROJECTS RELATIVE TO THE REVITALIZATION OF DOWNTOWN PROVIDENCE. SUCH PROGRAMS AND PROJECTS INCLUDE THE DOWNTOWN PROVIDENCE PARKS...
THE FOUNDATION OPERATES VARIOUS PROGRAMS AND LONG-TERM VISIONARY PROJECTS RELATIVE TO THE REVITALIZATION OF DOWNTOWN PROVIDENCE. SUCH PROGRAMS AND PROJECTS INCLUDE THE DOWNTOWN PROVIDENCE PARKS CONSERVANCY, WHICH WORKS TO ENHANCE PUBLIC SPACES, THE PROVIDENCE RESILIENCE PARTNERSHIP, WHICH SUPPORTS THE MOBILIZATION OF THE CITY'S DIVERSE COMMUNITIES TO COMBAT CLIMATE CHANGE, AND THE VITALITY PROGRAM, WHICH SEEKS TO GENERATE INTERSEST IN DOWNTOWN AND CREATE A VIBRANT ENVIRONMENT THAT DRAWS VISITORS AND BUSINESS TO DOWNDOWN PROVIDENCE.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $528,174 | $824,379 | -0.4% |
| Expenses | $728,823 | $1,000,244 | -0.3% |
| Net Income | $-200,649 | $-175,865 | +0.1% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| CHRISTOPHER MARSELLA | CHAIR | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| BETHANY COSTELLO | VICE CHAIR | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| ROBERT STOLZMAN | TREASURER | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| GREG ALMIEDA | SECRETARY | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| RUSSEL CAREY | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| ARNOLD CHASE | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| DAVID CICILLINE | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| MARC CRISAFULLI | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| PETER CRUMP | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| BRAD DIMEO | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| STEPHEN DURKEE | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| JOSEPH GREENE | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| RICHARD LAPPIN | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| ROBIN MAIN | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| CHARLES MEYERS | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| DAVID ORTIZ | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| JOSEPH R PAOLINO JR | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| TIMOTHY QUIRK | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| TONY SIMON | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| MICHAEL VOCOLLA | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| MICHELLE WILCOX | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| DONALD ZAMBARANO | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| CARRIE ZASLOW | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| NICK FREEMON | DEPUTY DIRECTOR | 1.00 |
Officer
Director
|
$57,430 | $12,957 | $70,387 |
| DAVID SALVATORE | EXECUTIVE DIRECTOR (AFTER 6/30/24) | 40.00 |
Officer
|
$0 | $0 | $0 |
| CLIFFORD WOOD | EXECUTIVE DIRECTOR (UNTIL 6/30/24) | 40.00 |
Officer
|
$159,092 | $22,848 | $181,940 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $528,174 | $728,823 | $242,413 | $-200,649 |
| 2023 | $824,379 | $1,000,244 | $456,216 | $-175,865 |
| 2022 | $1,003,262 | $1,023,188 | $626,108 | $-19,926 |
| 2021 | $715,090 | $751,023 | $636,495 | $-35,933 |
| 2020 | $559,333 | $636,314 | $680,918 | $-76,981 |
| 2019 | $823,709 | $804,200 | $747,720 | $19,509 |
| 2018 | $1,045,256 | $866,277 | $748,908 | $178,979 |
Compare THE PROVIDENCE FOUNDATION with other nonprofits in Rhode Island and across the country.