Nonprofit · EIN 05-0386411
PROVIDENCE REVOLVING FUND INC
Tax-exempt · PROVIDENCE, RI 02903
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| February 28, 2025 | 990 | $4,835,553 | $1,695,699 | $3,139,854 | $22,149,359 | $11,602,144 | $10,547,215 |
| February 29, 2024 | 990 | $3,179,393 | $1,133,486 | $2,045,907 | $16,723,902 | $9,316,541 | $7,407,361 |
| February 28, 2023 | 990 | $938,619 | $1,061,388 | -$122,769 | $11,687,520 | $6,326,066 | $5,361,454 |
Financial details: 990 for the year ended February 28, 2025
Revenue
- Contributions, gifts and grants
- $3,773,320
- Program service revenue
- $957,417
- Investment income
- $55,660
- Other revenue
- $49,156
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $893,123
- Professional fundraising fees
- $0
- Accounting fees
- $30,933
- Occupancy
- $34,923
- Travel
- $7,584
- Depreciation
- $29,868
- Program services (functional)
- $1,553,764
- Management and general (functional)
- $141,935
Balance sheet and other
- Total assets, start of year
- $16,723,902
- Total assets, end of year
- $22,149,359
- Total liabilities, end of year
- $11,602,144
- Net assets, end of year
- $10,547,215
- Land, buildings and equipment
- $734,381
- Net assets without donor restrictions
- $3,266,778
- Net assets with donor restrictions
- $7,280,437
- Gross receipts
- $4,835,553
- Employees
- 0
- Volunteers
- 0
- Year formed
- 1980
- State of legal domicile
- RI
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended February 28, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARY VALES | PRESIDENT Trustee or director, Officer | 1 | $0 |
| DOREEN CONLON | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| BRET JEDELE | SECRETARY Trustee or director, Officer | 1 | $0 |
| DORIS DE LOS SANTOS | BOARD MEMBER Trustee or director | 1 | $0 |
| ROSA PASTOR | BOARD MEMBER Trustee or director | 1 | $0 |
| DWAYNE KEYS | BOARD MEMBER Trustee or director | 1 | $0 |
| KYLE MACDONALD | BOARD MEMBER Trustee or director | 1 | $0 |
| MIGUEL QUEZADA | BOARD MEMBER Trustee or director | 1 | $0 |
| KYLE BENNETT | BOARD MEMBER Trustee or director | 1 | $0 |
| TINA REGAN | BOARD MEMBER Trustee or director | 1 | $0 |
| JACK RYAN | BOARD MEMBER Trustee or director | 1 | $0 |
| ROCHELLE LEE | BOARD MEMBER Trustee or director | 1 | $0 |
| MARISA ANGELL BROWN | BOARD MEMBER Trustee or director | 1 | $0 |
990 for the year ended February 29, 2024: 14 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARY VALES | PRESIDENT Trustee or director, Officer | 1 | $0 |
| DOREEN CONLON | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| BRET JEDELE | SECRETARY Trustee or director, Officer | 1 | $0 |
| CARMEN JUSINO | TREASURER Trustee or director, Officer | 1 | $0 |
| DORIS DE LOS SANTOS | BOARD MEMBER Trustee or director | 1 | $0 |
| ROSA PASTOR | BOARD MEMBER Trustee or director | 1 | $0 |
| DWAYNE KEYS | BOARD MEMBER Trustee or director | 1 | $0 |
| KYLE MACDONALD | BOARD MEMBER Trustee or director | 1 | $0 |
| MIGUEL QUEZADA | BOARD MEMBER Trustee or director | 1 | $0 |
| KYLE BENNETT | BOARD MEMBER Trustee or director | 1 | $0 |
| TINA REGAN | BOARD MEMBER Trustee or director | 1 | $0 |
| JACK RYAN | BOARD MEMBER Trustee or director | 1 | $0 |
| ROCHELLE LEE | BOARD MEMBER Trustee or director | 1 | $0 |
| MARISA ANGELL BROWN | BOARD MEMBER Trustee or director | 1 | $0 |
990 for the year ended February 28, 2023: 14 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARY VALES | PRESIDENT Trustee or director, Officer | 1 | $0 |
| DOREEN CONLON | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| BRET JEDELE | SECRETARY Trustee or director, Officer | 1 | $0 |
| CARMEN JUSINO | TREASURER Trustee or director, Officer | 1 | $0 |
| DORIS DE LOS SANTOS | BOARD MEMBER Trustee or director | 1 | $0 |
| ROSA PASTOR | BOARD MEMBER Trustee or director | 1 | $0 |
| DWAYNE KEYS | BOARD MEMBER Trustee or director | 1 | $0 |
| KYLE MACDONALD | BOARD MEMBER Trustee or director | 1 | $0 |
| MIGUEL QUEZADA | BOARD MEMBER Trustee or director | 1 | $0 |
| KYLE BENNETT | BOARD MEMBER Trustee or director | 1 | $0 |
| TINA REGAN | BOARD MEMBER Trustee or director | 1 | $0 |
| JACK RYAN | BOARD MEMBER Trustee or director | 1 | $0 |
| ROCHELLE LEE | BOARD MEMBER Trustee or director | 1 | $0 |
| MARISA ANGELL BROWN | BOARD MEMBER Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 372 W FOUNTAIN ST, PROVIDENCE, RI 02903-3514
- Principal officer (990 for 2024)
- CARRIE ZASLOW, 372 WEST FOUNTAIN STREET, PROVIDENCE, RI 02903
- Signed the 990
- CARRIE ZASLOW, EXECUTIVE DIRECTOR
- Phone
- (401) 272-2760
- Website
- WWW.REVOLVINGFUND.ORG
- Return prepared by
- DAMIANO BURK & NUTTALL PC
Mission
TO PRESERVE THE ARCHITECTURAL HERITAGE OF PROVIDENCE AND STIMULATE COMMUNITY REVITALIZATION THROUGH ADVOCACY, LENDING AND DEVELOPMENT IN HISTORIC AREAS.
Program accomplishments
- NEIGHBORHOOD LOAN PROGRAM - THE NEIGHBORHOOD LOAN FUND IS COMPRISED OF RESTRICTED FUNDS FROM SUCH CONTRIBUTORS AS THE RHODE ISLAND HISTORICAL PRESERVATION AND COMMISSION, CITY HOME FUNDING, THE UNITARIAN UNIVERSALIST ASSOCIATION, AND PRF ASSETS. THE FUND PROVIDES FINANCING TO HOMEOWNERS WITH HOMES THAT ARE OVER 50 YEARS OLD TO REPAIR THEIR PROPERTIES. THE PROGRAM OFFERS LOANS UP TO $50,000 FOR EXTERIOR REPAIR/RENOVATION/PRESERVATION. LOANS ARE AVAILABLE FOR BOTH OWNER OCCUPIED AND RENTAL PROPERTIES. OUR LOANS ARE DESIGNED TO MEET THE FINANCIAL CAPACITY OF THE BORROWER WITH FLEXIBLE TERMS. TWELVE NEW LOANS TO OWNER-OCCUPIED RESIDENTIAL HOMES WERE CLOSED FOR HOUSE RESTORATIONS IN PROVIDENCE, TOTALING $562,573 OF INVESTMENT.Expenses $1,553,764 · revenue $1,006,573
- OPPORTUNITY INVESTMENT FUND:PRF LAUNCHED THE OPPORTUNITY INVESTMENT FUND IN 2019 TO ATTRACT AND POOL PRIVATE AND PUBLIC CAPITAL FOR AFFORDABLE HOMEOWNERSHIP AND RENTAL HOUSING PROJECTS UNDERTAKEN BY INDIVIDUAL OWNERS, NON-PROFIT CDCS, AND LARGER FOR-PROFIT DEVELOPERS. QUALIFIED PROJECTS MAY INCLUDE BUT ARE NOT LIMITED TO NEW CONSTRUCTION OR REHAB OF MULTIFAMILY PROJECTS WITH OR WITHOUT LOW-INCOME HOUSING TAX CREDITS (LIHTC); INFILL HOUSING, REDEVELOPMENT, OR OTHER CDC-SPONSORED PROJECTS THAT ARE RESPONSIVE TO NEIGHBORHOOD NEEDS. OUR LENDING GOALS FOR THIS PROGRAM ARE TO STIMULATE PROPERTY REDEVELOPMENT IN UNDERINVESTED NEIGHBORHOODS, TO FACILITATE OPPORTUNITIES FOR LMI HOUSEHOLDS TO LIVE IN AREAS OF HIGH OPPORTUNITY AND TO INCENTIVIZE FORPROFIT DEVELOPERS TO PARTICIPATE IN FILLING THE NEED FOR AFFORDABLE UNITS, ESPECIALLY FOR THOSE SERVING HOUSEHOLDS BETWEEN 60%-140% OF AMI.
- PROVIDENCE MICRO-BUSINESS LOAN PROGRAM:PRF STAFF WORKS CLOSELY WITH RESIDENTS AND BUSINESS OWNERS AND CONTINUED TO DO SO DURING THE STAY AT HOME ORDERS. AS THE GOVERNOR ANNOUNCED PLANS FOR REOPENING AND RELEASED GUIDELINES, WE HEARD THAT MANY OF THE BUSINESSES ESPECIALLY MINORITY AND WOMEN OWNED BUSINESSES ARE CONCERNED ABOUT BEING ABLE TO REOPEN. THESE CORRIDORS ARE THE HEARTS OF THEIR NEIGHBORHOODS. THEY ARE WHERE PEOPLE SHOP, WHERE THEY WORK AND WHERE THEY MEET THEIR NEIGHBORS. PROVIDENCE REVOLVING FUND HAS CAPITALIZED A REVOLVING LOAN FUND TO PROVIDE SMALL LOANS TO MICRO-BUSINESSES LOCATED ON OR NEAR COMMERCIAL CORRIDORS IN PROVIDENCE. THIRTY PERCENT (30%) OF THE FUND WILL SET ASIDE FOR WOMEN/MINORITY OWNED BUSINESSES. IT PROVIDES LOANS OF $500-$5,000 TO BUSINESSES WITH 10 OR FEWER FTES, EARNINGS OF $250,000 OR LESS. ALL BORROWERS ARE REQUIRED TO PARTICIPATE IN A ONE-ON-ONE SMALL BUSINESS COACHING SESSION. A TOTAL OF 18 LOANS WERE MADE FOR $165,000; 85% WERE MINORITY AND WOMEN OWNED BUSINESSES.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in February, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | February 28, 2026 | July 15, 2026 | Not on file |
| 2024 | February 28, 2025 | July 15, 2025 | 990 on file |
| 2023 | February 29, 2024 | July 15, 2024 | 990 on file |
IRS record
- EIN
- 05-0386411
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1972
- Accounting year ends
- February
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A80)
- Assets (IRS master file)
- $22,149,359
- Income (IRS master file)
- $4,835,553
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | February 2025 | $4,835,553 | $1,695,699 | $22,149,359 | XML |
| 990 | February 2024 | $3,179,393 | $1,133,486 | $16,723,902 | XML |
| 990 | February 2023 | $938,619 | $1,061,388 | $11,687,520 | XML |
| 990 | February 2022 | $2,371,893 | $683,887 | $8,630,612 | IRS |
| 990 | February 2021 | – | – | – | IRS |
| 990 | February 2019 | – | – | – | IRS |
| 990 | February 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 05-0386411).
Questions about PROVIDENCE REVOLVING FUND INC
- What is the EIN of PROVIDENCE REVOLVING FUND INC?
- The employer identification number (EIN) of PROVIDENCE REVOLVING FUND INC is 05-0386411.
- Is PROVIDENCE REVOLVING FUND INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1972.
- Are donations to PROVIDENCE REVOLVING FUND INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does PROVIDENCE REVOLVING FUND INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of PROVIDENCE REVOLVING FUND INC due?
- The return for tax year 2025 (the year ending February 28, 2026) is due July 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PROVIDENCE REVOLVING FUND INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended February 2025.
- Who is the principal officer of PROVIDENCE REVOLVING FUND INC?
- The 990 for the year ended February 28, 2025 names CARRIE ZASLOW.
- Who are the officers and directors of PROVIDENCE REVOLVING FUND INC?
- The 990 for the year ended February 28, 2025 lists 13 people; 0 received compensation from the organization.
- How much revenue does PROVIDENCE REVOLVING FUND INC have?
- On its 990 for the year ended February 28, 2025 it reported revenue of $4,835,553, expenses of $1,695,699 and total assets of $22,149,359 at year end.
Other nonprofits in PROVIDENCE
- PROVIDENCE PERFORMING ARTS CENTER EIN 05-0377244 · last filed 990 for 2025
- TRINITY REPERTORY COMPANY EIN 22-2547262 · last filed 990 for 2025
- OCEAN STATE MEDIA GROUP EIN 22-2859005 · last filed 990 for 2025
- MARITIME RHODE ISLAND INC EIN 20-2574859 · last filed 990 for 2024
- RHODE ISLAND HISTORICAL SOCIETY EIN 05-0259110 · last filed 990 for 2025
- PROVIDENCE CHILDRENS MUSEUM EIN 05-0370944 · last filed 990 for 2024
- AS 220 EIN 22-2754566 · last filed 990 for 2025
- BALLET RHODE ISLAND EIN 05-0377245 · last filed 990 for 2025
All nonprofits in PROVIDENCE · Rhode Island · Arts, culture and humanities