Nonprofit · EIN 22-2527265
INDEPENDENCE SQUARE FOUNDATION
Tax-exempt · PAWTUCKET, RI 02860
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,755,740 | $2,095,036 | -$339,296 | $8,792,214 | $6,186,055 | $2,606,159 |
| December 31, 2023 | 990 | $1,834,921 | $2,008,244 | -$173,323 | $9,231,337 | $6,308,559 | $2,922,778 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $1,838,369
- Investment income
- -$86,021
- Net gain from sales of assets
- -$116,169
- Other revenue
- $3,392
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $244,391
- Other salaries and wages
- $249,500
- Salaries, compensation and benefits (total)
- $535,802
- Professional fundraising fees
- $0
- Legal fees
- $7,887
- Accounting fees
- $12,300
- Occupancy
- $895,414
- Travel
- $16,681
- Depreciation
- $414,159
- Program services (functional)
- $1,098,412
- Management and general (functional)
- $996,624
Balance sheet and other
- Total assets, start of year
- $9,231,337
- Total assets, end of year
- $8,792,214
- Total liabilities, end of year
- $6,186,055
- Net assets, end of year
- $2,606,159
- Land, buildings and equipment
- $7,583,451
- Net assets without donor restrictions
- $2,606,159
- Gross receipts
- $1,889,701
- Employees
- 12
- Volunteers
- 0
- Year formed
- 1984
- 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 December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOHN J PADIEN III | EXECUTIVE DIRECTOR Officer | 30 | $244,391 |
| MARK SACCOCCIO | TREASURER Trustee or director, Officer | 0.5 | $0 |
| WILLIAM J SZAFAROWICKZ | PRESIDENT Trustee or director, Officer | 0.5 | $0 |
| MICHEL R BENOIT | DIRECTOR Trustee or director | 0.5 | $0 |
| PAUL M DEPACE | DIRECTOR Trustee or director | 0.5 | $0 |
| HENRIQUE T PEDRO | SECRETARY Trustee or director, Officer | 0.5 | $0 |
| THOMAS E HODGE | DIRECTOR Trustee or director | 0.5 | $0 |
| JOSEPH L SABATINO | DIRECTOR Trustee or director | 0.5 | $0 |
990 for the year ended December 31, 2023: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOHN J PADIEN III | EXECUTIVE DIRECTOR Officer | 30 | $225,315 |
| MARK SACCOCCIO | TREASURER Trustee or director, Officer | 0 | $0 |
| WILLIAM J SZAFAROWICKZ | PRESIDENT Trustee or director, Officer | 0 | $0 |
| MICHAEL R BENOIT | DIRECTOR Trustee or director | 0 | $0 |
| PAUL M DEPACE | DIRECTOR Trustee or director | 0 | $0 |
| HENRIQUE T PEDRO | SECRETARY Trustee or director, Officer | 0 | $0 |
| THOMAS E HODGE | DIRECTOR Trustee or director | 0 | $0 |
Address and contacts
- Address (IRS master file)
- 500 PROSPECT STREET, PAWTUCKET, RI 02860-6258
- Principal officer (990 for 2024)
- JOHN J PADIEN III, 500 PROSPECT STREET, PAWTUCKET, RI 02860
- Signed the 990
- JOHN J PADIEN III, EXECUTIVE DIRECTOR
- Phone
- (401) 782-0450
- Website
- WWW.ISFNE.ORG
- Return prepared by
- OTRANDO PORCARO & ASSOCIATES LTD
Mission
SEE PART I, LINE 1
Program accomplishments
- RENTAL OF FACILITIES - PROVIDE OFFICE SPACE TO ORGANIZATIONS WITH EXEMPT PURPOSES.Expenses $1,098,412 · revenue $1,599,181
- SHARED SERVICES/EQUIPMENT - PROVIDES THE USE OF OFFICE EQUIPMENT TO ORGANIZATIONS WITH EXEMPT PURPOSES.revenue $9,854
- REAL ESTATE MANAGEMENT SERVICES - PROVIDE COMPREHENSIVE REAL ESTATE MANAGEMENT SUPPORT SERVICES TO ASSIST EXEMPT ORGANIZATIONS IN DEVELOPING AFFORDABLE HOUSINGrevenue $229,661
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 December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 22-2527265
- 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
- 1984
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $8,792,214
- Income (IRS master file)
- $1,889,701
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,755,740 | $2,095,036 | $8,792,214 | XML |
| 990 | December 2023 | $1,834,921 | $2,008,244 | $9,231,337 | XML |
| 990 | December 2022 | $1,793,257 | $1,860,574 | $9,128,284 | IRS |
| 990 | December 2021 | $2,506,000 | $1,839,992 | $9,396,221 | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | 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 22-2527265).
Questions about INDEPENDENCE SQUARE FOUNDATION
- What is the EIN of INDEPENDENCE SQUARE FOUNDATION?
- The employer identification number (EIN) of INDEPENDENCE SQUARE FOUNDATION is 22-2527265.
- Is INDEPENDENCE SQUARE FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1984.
- Are donations to INDEPENDENCE SQUARE FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does INDEPENDENCE SQUARE FOUNDATION 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 INDEPENDENCE SQUARE FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did INDEPENDENCE SQUARE FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of INDEPENDENCE SQUARE FOUNDATION?
- The 990 for the year ended December 31, 2024 names JOHN J PADIEN III.
- Who are the officers and directors of INDEPENDENCE SQUARE FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 8 people; 1 received compensation from the organization, the highest $244,391 (JOHN J PADIEN III, EXECUTIVE DIRECTOR).
- How much revenue does INDEPENDENCE SQUARE FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,755,740, expenses of $2,095,036 and total assets of $8,792,214 at year end.
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