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Banknewport Charitable Foundation is a private corporation based in MIDDLETOWN, RI. The foundation received its IRS ruling in 2022. The principal officer is Greg Derderian. It holds total assets of $12.5M. Annual income is reported at $576K. The foundation is governed by 11 officers and trustees. The foundation operates in the area of philanthropy & grantmaking. Tax records are available from 2022 to 2024. According to available records, Banknewport Charitable Foundation has made 7 grants totaling $50K, with a median grant of $4K. Individual grants have ranged from $4K to $25K, with an average award of $7K. The foundation has supported 7 unique organizations. Grant recipients are concentrated in Rhode Island. Contributions to this foundation are tax-deductible.
No program descriptions are available for this foundation. Many private foundations report program activities in their annual 990-PF filings — check the Tax Filings section below for the most recent filing.
Banknewport Charitable Foundation primarily funds organizations in the area of philanthropy & grantmaking. Based on available records, the foundation has funded 7 grants. Its grantmaking reaches organizations primarily in RI.
Banknewport Charitable Foundation has distributed a total of $50K across 7 grants. The median grant size is $4K, with an average of $7K. Individual grants have ranged from $4K to $25K.
The application deadline is SEE APPLICATION FOR DEADLINES. Grants are made to support specific programs or capital fund requests for 501(c)(3) nonprofit organizations that qualify under the irs to receive tax deductible charitable donations, including essential health and human services and community development programs. Requests for annual operating support, including salaries and stipends, will not ordinarily meet funding criteria. It is intended that grant proposals are considered by the banknewport charitable foundation inc on a quarterly basis. The board will review no more than one grant application submission from an organization in a twelve month period. Organizations awarded a grant will be required to submit a final grant report. The submission of a grant request does not guarantee it will be funded. The board shall determine which 501(c)(3) nonprofit organizations shall receive a grant based on need and alignment with the banknewport charitable foundation inc's purpose.
Banknewport Charitable Foundation is headquartered in MIDDLETOWN, RI.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| David Bazarsky | DIRECTOR | $0 | $0 | N/A |
| Wendy Kagan | EXECUTIVE VICE PRESIDENT | $0 | $0 | N/A |
| Maryjo Carr | DIRECTOR | $0 | $0 | N/A |
| Roger Nolan | DIRECTOR | $0 | $0 | N/A |
| John F Murphy | PRESIDENT/DIRECTOR | $0 | $0 | N/A |
| James Wright | DIRECTOR | $0 | $0 | N/A |
| Peter Capodilupo | DIRECTOR | $0 | $0 | N/A |
| Timothy Burns | DIRECTOR | $0 | $0 | N/A |
| Kathy Charbonneau | VICE PRESIDENT | $0 | $0 | N/A |
| Hollie Lussier | SECRETARY | $0 | $0 | N/A |
| Gregory Derderian | TREASURER | $0 | $0 | N/A |
Total Giving
N/A
Total Assets
$12.5M
Fair Market Value
N/A
Net Worth
$12.5M
Grants Paid
N/A
Contributions
N/A
Net Investment Income
N/A
Distribution Amount
N/A
Total Grants
7
Total Giving
$50K
Average Grant
$7K
Median Grant
$4K
Unique Recipients
7
Most Common Grant
$4K
of 2023 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| Child & Family ServicesEXEMPT PURPOSE | Middletown, RI | $4K | 2023 |
| Rhode Island Community Food BankEXEMPT PURPOSE | Providence, RI | $25K | 2023 |
| Boys Town New EnglandEXEMPT PURPOSE | Portsmouth, RI | $5K | 2023 |
| Davinci Center For Community ProgressEXEMPT PURPOSE | Providence, RI | $4K | 2023 |
| Sojourner HouseEXEMPT PURPOSE | Providence, RI | $4K | 2023 |
| Crossroads Rhode IslandEXEMPT PURPOSE | Providence, RI | $4K | 2023 |
| Family Service Of Rhode IslandEXEMPT PURPOSE | Providence, RI | $4K | 2023 |
NORTH KINGSTOWN, RI
PROVIDENCE, RI
PROVIDENCE, RI