The Rhode Island Foundation is the only organization of its kind in Rhode Island. We are a nonprofit dedicated only to promoting philanthropy throughout the state. We are not driven by a profit motive, we will not merge or be bought out or move out of state. And we will be around forever.
But what are the benefits to you for conducting your major charitable giving through the Foundation? They are many:
- Grantmaking Expertise
The Foundation's staff brings an in-depth knowledge of Rhode Island, specifically its challenges and opportunities. We can help you make informed decisions, if and when you ask. - Never Outdated
The Foundation guarantees the endowment you establish today will be just as vital in the far future as it is today. The proof is our equal attention to the first fund established in 1916 as to the one created yesterday. - Publicly Accountable
An independent certified audit is performed annually and the Foundation makes a full accounting of its activities through an Annual Report, annual IRS filings of financial statements, and newsletters. - Remain Actively Involved
The Foundation offers you and others you choose (including succeeding generations) the ability to discuss and recommend grants from the endowment you establish. This particular benefit applies to donor advisors/donor advised funds ONLY. - A Living Memorial
You choose the name (and, of course, the purpose) of the endowment, thus leaving a printed legacy to your family, your company, your community, or others. - Creative Ways To Give
As a public charity, you can make your gift to the Foundation to best suit your situation. You can establish a fund with appreciated securities and avoid capital gains taxes, donate a home while retaining the right to live in it during your lifetime, or sign over an insurance policy to the Foundation and deduct the annual premiums on your tax returns. These are just a few of the possibilities. - It's Easy
Though the endowment will continue in perpetuity, the necessary paperwork to establish it is straightforward and can be completed in minutes. - Maximum Tax Benefits
Contributions qualify for the maximum deductibility for income, gift and estate tax purposes. We are classified by the Internal Revenue Service as a public charity exempt from income taxes under section 501(c)(3). - Low Administrative Costs and Quality Investment
At The Rhode Island Foundation, administrative costs (including the fees of the nation’s best investment firms) are shared by hundreds of funds (more than 950 at last count), thus minimizing the costs to any single endowment.
