Our 2023 Annual Report

We're excited to share our 2023 Annual Report and hope that you find it to be a useful reflection on a year of transition, future planning, and impressive growth and impact.

As you’ll see throughout its pages, the team at the Foundation ably balanced effective grantmaking, inspiring philanthropy, and listening and learning from the Rhode Islanders we serve during a transformative time.

Last year, thanks to the generosity of our donors, we were pleased to award a record $89 million in grants to approximately 2,500 nonprofit organizations; two-thirds of which were donor-directed, and one-third of which was directed through the Foundation’s community investments programs. On page 8, you will find an illustration of how those grant dollars were allocated by subject matter to meet need throughout the state, and you will see just how much alignment there is between the grants that our team is responsible for and those that our donors direct. Together, we are making an incredible impact.

Our team continues to focus on careful endowment stewardship, and we have weathered market fluctuations quite well. At the end of 2023, total assets stood at approximately $1.4 billion, and our total fund investment return for the year was 14.2 percent. In addition, we raised $46 million in gifts.

As we continue to assess the Foundation’s fundraising, grantmaking, and programmatic efforts, we have also focused on gathering input from the community to inform our future focus. We have gathered perspective through a series of research efforts, by crisscrossing the state to visit grantees and donors, hosting sector-specific convenings and open community conversations.

Later this year, we will share more about all we’ve learned and about how we plan to intentionally put that into practice in our grantmaking, beyond-grantmaking, and development efforts to catalyze generosity and action across our state.

We are deeply grateful to the generous Rhode Islanders who partner with us to turn their philanthropy into a powerful force for good, and to the dedicated nonprofits who serve our community.

We invite you to access the full 2023 Rhode Island Foundation Annual Report, including our financial performance, activities, the inspiring stories of some of our many incredible donors, and more. Click here to launch or download.

All the best,

David & Al

David N. Cicilline, President and CEO

G. Alan Kurose, MD, MBA, FACP, Chairman of the Board

Interested in serving on a non-profit board?

We are seeking passionate Rhode Islanders who are looking for ways to serve our community and make a lasting difference by helping shape the state's critical nonprofit sector through board service.

Join us for Board Bootcamp on Saturday, June 8, 2024, for a full-day learning opportunity designed to equip participants with the awareness, skills, and capabilities to serve on a nonprofit board. Agenda topics include an introduction to the nonprofit sector, governance and financials, as well as case studies and a panel conversation with current board members. Board Bootcamp is offered free of charge, and a light breakfast, lunch and refreshments will be provided.

Our target audience for this program is anyone under age 35, or who identifies as a person of color, or as a person with moderate income, and has never served on a nonprofit board before. If you are interested in attending, you can learn more and apply here by May 27.

Please contact Jill Pfitzenmayer, Vice President of Capacity Building, at This email address is being protected from spambots. You need JavaScript enabled to view it. if you have any questions or need further information.

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