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Providence Foundation

EIN 23-7423032 · Providence, RI

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthFair65 out of 100GovernanceStrong97 out of 100Impact evidenceDescribes programsHow well its results are evidenced

Points to look into

  • Only 42% of its spending went to programs.

These come from the organization's own tax return. There may be a good explanation; ask the charity.

What it says it does

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.

Income
$503,833
Spending
$430,607
Spent on programs
42%
Reserves
3.4 months of spending
Largest source of income
donations and private grants, 80%
Employees
3
Volunteers
0
Highest pay
$83,812, executive director

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 65 out of 100.

  • Reserves

    20 of 35

    Spendable reserves would cover 3.4 months of spending.

  • Debt

    20 of 20

    It owes 5% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 15% of income.

  • Income trend

    10 of 15

    Income fell 5% on the year before.

  • Spending floor

    0 of 15

    42% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 97 out of 100.

  • Independent board

    25 of 25

    23 of 23 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    12 of 15

    Its accounts were reviewed or compiled by an independent accountant, but not audited.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $179,258 spent. 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.

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending September 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since September 1977.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

  7. Could it be confused with another charity? Worth knowing.

    A much larger organization has a similar name: Providence Medical Foundation (Anaheim, CA), EIN 33-0185031. If that is the one you meant, check the EIN before giving.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.