The Rhode Island Foundation has released its 2024 Annual Report to the Community, showcasing a year marked by evolution, growth, and a deep commitment to addressing the state’s most pressing challenges. The report highlights key initiatives and the Foundation’s dedication to strategic philanthropy, building on its Five-Year Action Plan unveiled last year.
Guided by the voices of Rhode Islanders, the Action Plan focuses on five critical areas: Civic and Cultural Life, Climate Action and Sustainability, Education and Student Success, Healthy and Strong Communities, and Housing and Economic Mobility. The plan emphasizes inclusiveness, accessibility, compassion, mutual respect, and humility as core principles.
In 2024, the Foundation awarded $86 million in grants to approximately 2,500 nonprofit organizations. Two-thirds of the grants were donor-directed, with the remaining third allocated through the Foundation’s community investments programs. This funding reflects the Foundation’s focus on creating meaningful impact across the state, aligning closely with the needs identified by both its team and its donors.
The Foundation also reported a strong year of financial growth. Total assets reached approximately $1.5 billion, with a total fund investment return of 10.5 percent. Additionally, $59 million was raised in new gifts, further strengthening the Foundation’s capacity to support its mission.
With a history of over 100 years of service, the Rhode Island Foundation remains steadfast in its commitment to solutions-oriented philanthropy. In a time of political and social transition, the Foundation continues to focus on the needs of Rhode Islanders, positioning philanthropy as a strategic investment in the state’s future.
“We are deeply grateful to the generous Rhode Islanders who partner with us,” the Foundation said. “Together, we’re constructing a better Rhode Island, one gift, one grant, and one opportunity at a time.”
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