We’re pleased to share the 2024 Annual Report to the Community with you and hope that you find it to be a useful reflection on a year of evolution, growth, and impact.
Last year, we unveiled our Five-Year Action Plan—an ambitious blueprint for hope that was informed by the voices of Rhode Islanders. The Action Plan focuses our attention on Civic and Cultural Life; Climate Action and Sustainability; Education and Student Success; Healthy and Strong Communities; and Housing and Economic Mobility; guided by inclusiveness, accessibility, compassion, mutual respect and humility.
Thanks to the generosity of our donors, we were pleased to award $86 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. In this report, you will find an illustration of how those grant dollars were allocated 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. At the end of 2024, total assets stood at approximately $1.5 billion, and our total fund investment return for the year was 10.5 percent. In addition, we raised $59 million in new gifts.
For over a century, during times of tumult and tranquility, the Rhode Island Foundation has remained committed to solutions-oriented philanthropy, and to thoughtfully addressing the powerful structures that may be keeping progress at bay.
In many ways our work is more relevant than ever. That is why we are reimagining how philanthropy can address our shared challenges and prove that generosity is more than just a donation—it’s a strategic investment in our collective future, that will stand the test of time, bridge divides, and create meaningful progress in an increasingly complex world.
National, and local, transitions of power have a real impact on the day-to-day lives of all Rhode Islanders, and on the organizations that help support thriving communities. From the uncertainty many experience during times of transition, to navigating complex conversations about the challenges we all face—as the state’s only community foundation we have chosen and will continue to choose a singular, purposeful response: meeting the needs of all Rhode Islanders.
Our future isn’t predetermined. It’s constructed, brick by brick, gift by gift, grant by grant, opportunity by opportunity. The Foundation’s work is grounded in partnerships with individuals, nonprofits, businesses and civic leaders who have come together for over a century to create a better Rhode Island. And as challenging as the obstacles ahead may feel—we have cause for hope.
Thank you for your partnership and for your trust in the Foundation. 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.
All the best,
David & Ann-Marie
David N. Cicilline, President & CEO,
Ann-Marie Harrington, Chair
