R.I. Foundation sees gain on investments in 2009, record grant giving in state

Posted 8/3/10

(Updated, 12:10 p.m.)

PROVIDENCE – The Rhode Island Foundation recovered a significant portion of its investment losses in 2009, as it followed a 27 percent decline in 2008 in the value of its investments with a gain of 20.6 percent in 2009, the nonprofit said in its annual report.

The fair value of the foundation’s investments climbed to $476.61 million from $409.01 million a year earlier, pushing the foundation’s net assets up to $491.63 million as of Dec. 31, an increase of 14.73 percent when compared with net asset value at the end of 2008.

The 94-year-old foundation distributed funds throughout the state totaling $27.6 million – a record – to more than 1,000 organizations in 2009, with the following allocations.

  • Arts & Culture – $2,908,371

  • Animal Welfare – $689,955

  • Community & Economic Development – $2,211,290

  • Education – $5,819,811

  • Environment – $1,517,103

  • Health – $5,298,941

  • Human Services – $7,786,420

  • Other – $1,356,722

“In 2009, we were pleased to see our investment performance climb over 20 percent, our endowment once again top the half-billion mark,” the report said. The 20.6 percent increase combines both the $53.7 million in reinvested investment income and gains and the $27.6 million in distributions the foundation made during the year.

The foundation also reported operating revenue of $34.9 million, a 6.2 percent decline on the year, which led to a 65.6 percent decline in its increase in net assets from operations to $1.6 million.

The Rhode Island Foundation is one of the nation’s largest and oldest charitable organizations serving a specific geographic community. Additional information is available at

PBN Hosted

Join PBN for the best networking event and party of the winter - January 15, 2015 - the Book of Lists Party at the Providence Public Library. Reserve your spot by December 31st and get a holiday gift from PBN!
  • Best Places to Work
    Enrollment is now open for the 7th annual Best Places to Work program. Winners w ...
  • Manufacturing Awards
    Applications are now being accepted for the 2nd Annual Manufacturing Awards. Dea ...
Purchase Data
Book of Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  • Purchase an e-File of the entire Book of Lists database
  • Purchase a printed copy of the Book of Lists
    Latest News