RIF breaks annual grant record

NEIL D. Steinberg is president and CEO of the Rhode Island Foundation. A record $45 million was awarded in grants to more than 1,600 nonprofits throughout the state by the Rhode Island Foundation in 2016. / PBN FILE PHOTO/MICHAEL SALERNO
NEIL D. Steinberg is president and CEO of the Rhode Island Foundation. A record $45 million was awarded in grants to more than 1,600 nonprofits throughout the state by the Rhode Island Foundation in 2016. / PBN FILE PHOTO/MICHAEL SALERNO

PROVIDENCE – A record $45 million was awarded in grants to more than 1,600 nonprofits throughout the state by the Rhode Island Foundation in 2016, according to a Wednesday statement by the organization.

Grants made by the foundation target eight key issues within Rhode Island’s community: arts and culture, basic human needs, children and families, education, economic security, environment, health and housing.

“Our grants fuel strategies that are moving our state forward,” said Neil D. Steinberg, RIF president and CEO, in a statement.

Recipients of large grants during 2016 included Central Falls School department ($68,982), Family Service of Rhode Island ($44,942), the Rhode Island Marine Trades Association ($65,000) and nearly $300,000 was awarded to food banks, homeless shelters and free clinics serving Rhode Islanders.

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The foundation also received nearly $60 million in new gifts from families, individuals, organizations and corporate donors last year – the second highest amount in the foundation’s 100-year-long history, due in part to the centennial celebrations – for a total $830 million in total assets.

Steinberg thanked the foundation’s “visionary donors” saying, “their inspiring philanthropy makes it possible for us to invest in Rhode Island as never before.”

Community leadership is also central to the ethos of the RIF and 2016 was a successful year for the foundation’s Civic Leadership Fund which was boosted by more than $350,000 in raised funds. The CLF provides a platform for dialogue on critical issues within local communities and has been involved in the Buy Local RI economic development initiative.

Jessica David, RIF senior vice president of strategy and community investments, said those giving to the CLF “understand that progress requires many different approaches.”

She added: “Having the means to tackle opportunities as they arise enhances the work that our nonprofit partners already do.”

As part of its centennial celebration, through the philanthropy of more than 150 donors, RIF has raised $8.1 million toward its $10 million goal to make improvements to Roger Williams Park in downtown Providence. Included in these funds is a $1.95 million award from The Champlin Foundations to restore the Bandstand, Temple to Music and Museum in the park. In addition, RIF will create a $5 million endowment as a source of funding for the park in perpetuity through the Roger Williams Park Conservancy.

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