2018-05-10T06:58:22-05:00 2017-06-30 222428965 CITRIN COOPERMAN & COMPANY LLP TEN WEYBOSSET STREET - SUITE 700 PROVIDENCE RI 02903 990 2016-07-01 050467353 PROVIDENCE PLAN PROV 4014558880 10 DAVOL SQUARE NO 300 PROVIDENCE RI 02903 RICHARD SPIES PRESIDENT, BOARD OF DIRECTORS 4014558880 2018-05-08 1 MARTHA HULTZMAN P00107728 4014214800 2018-05-08 2016 2022-09-23 18:48:47Z RICHARD SPIES 10 DAVOL SQUARE NO 300 PROVIDENCE RI 02903 5389143 0 X N/A X 1992 RI TO PROMOTE THE ECONOMIC AND SOCIAL WELL-BEING OF PROVIDENCE ITS PEOPLE AND ITS NEIGHBORHOODS. X 12 12 167 0 0 0 9338678 4985410 339037 226227 943 366 21963 177140 9700621 5389143 0 0 0 0 6348268 2811915 0 0 0 3946863 2863894 10295131 5675809 -594510 -286666 4316209 407222 3787447 165126 528762 242096 X THE PROVIDENCE PLAN'S MISSION IS TO IMPROVE THE ECONOMIC AND SOCIAL WELL-BEING OF PROVIDENCE, ITS RESIDENTS, AND ITS NEIGHBORHOODS. THE PROVIDENCE PLAN ALSO PROVIDES DATA ANALYSIS FOR GOVERNMENT AGENCIES AND COMMUNITY GROUPS ON A VARIETY OF ISSUES, SUCH AS ECONOMIC DEVELOPMENT, PUBLIC SAFETY, HEALTH, JOBS, AND EDUCATION. THE PROVIDENCE PLAN ALSO OPERATES PROGRAMS FOCUSED ON CHILDREN'S WELL-BEING, WORKFORCE DEVELOPMENT, AND THE CAPACITY OF OUR STATE'S NONPROFIT SECTOR. 0 1 1432317 0 0 PROVIDENCE TALKS UNLOCKING THE INCREDIBLE TEACHING POWER OF PARENTS AND CARETAKERS BY EMPOWERING THEM WITH THE TOOLS AND COACHING NECESSARY TO ENSURE ALL CHILDREN ENTER SCHOOL READY TO SUCCEED BY COMBINING NEW TECHNOLOGY WITH HIGH-QUALITY EARLY INTERVENTIONS, PROVIDENCE TALKS SUPPORTS FAMILIES IN UNDERSTANDING AND IMPROVING THEIR CHILDREN'S NATURAL AUDITORY ENVIRONMENT. THIS PROGRAM WAS TRANSFERRED TO ROGER WILLIAMS UNIVERSITY. 1072966 0 0 READY TO LEARN - A BROAD BASED COMMUNITY COALITION WITH THE VISION THAT ALL CHILDREN IN PROVIDENCE WILL ENTER SCHOOL HEALTH AND READY TO LEARN. THIS PROGRAM WAS TRANSFERRED TO ROGER WILLIAMS UNIVERSITY. 970107 0 78057 BUILDING FUTURES - HELPS THE RHODE ISLAND COMMERCIAL CONSTRUCTION INDUSTRY MEET ITS CURRENT AND FUTURE NEEDS FOR A WELL-TRAINED WORKFORCE, AND CREATES CAREER OPPORTUNITIES FOR LOW-INCOME RESIDENTS IN URBAN AREAS THROUGH ESTABLISHED APPRENTICESHIP PROGRAMS. THIS PROGRAM WAS TRANSFERRED TO BUILDING FUTURES, A NEWLY FORMED NON-PROFIT ORGANIZATION, DURING THE YEAR ENDED 6/30/17. 1314470 0 325310 OTHER PROGRAMS: -YOUTHBUILD - PROVIDES YOUNG PEOPLE WITH OPPORTUNITIES FOR POSITIVE LIFE CHOICES AND EXPERIENCES, HELPING THEM TO BECOME MENTALLY AND MORALLY EMPOWERED TO ACCEPT RESPONSIBILITY FOR THEMSELVES, THEIR FAMILIES AND THEIR COMMUNITIES. YOUTHBUILD IS SUPPORTED BY AMERICORPS NATIONAL. THIS PROGRAM WAS TRANSFERRED TO YOUTHBUILD, A NEWLY FORMED NON-PROFIT, DURING THE YEAR ENDED 6/30/17.-INFORMATION GROUP - WORKING ON DATA PROJECTS THAT WILL BE USED TO INFORM POLICY AND/OR COMMUNITY ACTION IN WAYS THAT PROMOTE THE WELL-BEING OF PROVIDENCE AND RHODE ISLAND RESIDENTS. THIS PROGRAM WAS TRANSFERRED TO THE UNIVERSITY OF RHODE ISLAND DURING THE YEAR ENDED 6/30/17. 1314470 0 325310 4789860 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 132 0 167 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 1 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X RICHARD SPIES 4014558880 10 DAVOL SQUARE SUITE 300 PROVIDENCE RI 02903 RICHARD SPIES CHAIR 2.00 X X 0 0 0 MACKY MCCLEARY VICE CHAIR 1.00 X X 0 0 0 CHRIS KOLLER TREASURER 1.00 X X 0 0 0 MARION ORR SECRETARY 1.00 X X 0 0 0 SANDRA POWELL DIRECTOR 1.00 X 0 0 0 NICK LONGO DIRECTOR 1.00 X 0 0 0 NICOLE POLLOCK DIRECTOR 1.00 X 0 0 0 CHANNAVY CHHAY DIRECTOR 1.00 X 0 0 0 JEFF GRYBOWSKI DIRECTOR 1.00 X 0 0 0 GONZALO CUERVO DIRECTOR 1.00 X 0 0 0 MICHELLE DAVIS COLLINS DIRECTOR 1.00 X 0 0 0 ANNA CANO-MORALES DIRECTOR 1.00 X 0 0 0 PATRICK MCGUIGAN EXECUTIVE DIRECTOR - UNTIL 9/2016 35.00 X 161632 0 11364 ANDREW BRAMSON DEPUTY DIRECTOR - UNTIL 6/2016 35.00 X 75538 0 8277 CHARLES DENNO DIRECTOR OF FINANCE - UNTIL 7/2016 35.00 X 55527 0 5844 JAMES BERSON EXECUTIVE DIRECTOR - FROM 9/2016 35.00 X 30000 0 0 LESLIE GELL TERMINATED 22517 HIGHLY COMP. EMPLOYEE 35.00 X 119743 0 15468 ANDREW CORTES HIGHLY COMP. EMPLOYEE - UNTIL 1/2017 35.00 X 107543 0 9965 ANTHONY HUBBARD TERMINATED 21417 HIGHLY COMP. EMPLOYEE 35.00 X 106167 0 4845 656150 0 55763 4 0 1 0 0 4604832 380578 4985410 PROGRAM SERVICE FEES 624100 226227 226227 226227 366 366 LITIGATION SETTLEMENT 900099 175000 175000 OTHER INCOME 900099 2140 2140 177140 5389143 403367 0 366 X 150154 150154 2181467 2032409 149058 36195 23391 12804 264338 220767 43571 179761 152801 26960 79500 79500 31187 31187 134986 134986 1669607 1626344 43263 2238 2238 382768 362435 20333 244432 184246 60186 38752 34080 4672 25551 21457 4094 36233 36233 69332 41356 27976 EQUIPMENT & RENTAL 36563 27118 9445 STAFF DEVELOPMENT & TRA 26869 26869 REPAIRS & MAINTENANCE 25546 12126 13420 UTILITIES 25411 17276 8135 34919 4947 29972 5675809 4789860 885949 0 46257 290259 2959691 1214643 64514 40928 45912 0 0 36234 0 18456 6537 4316209 407222 1175859 165126 2594022 17566 3787447 165126 X 232049 242096 296713 0 528762 242096 4316209 407222 -286666 0 X X 0 0 1 0 X 4770429 6246585 6706360 9388678 4985410 32097462 4770429 6246585 6706360 9388678 4985410 32097462 32097462 1092 2845 4558 943 366 9804 14379 5412 73517 32898 177140 303346 32410612 565264 0.99030 0.99540 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2012 AMOUNT: $ 14,379. 2013 AMOUNT: $ 5,412. 2014 AMOUNT: $ 73,517. 2015 AMOUNT: $ 32,898. 2016 AMOUNT: $ 2,140. LITIGATION SETTLEMENT - 2016 AMOUNT: $ 175,000. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 542037 542037 813056 229 0 0 0 229 135509 135509 203264 0 PART X, LINE 2 THE AGENCY IS EXEMPT FROM INCOME TAXES AS A PUBLIC CHARITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. MANAGEMENT BELIEVES THAT THE AGENCY OPERATES IN A MANNER CONSISTENT WITH ITS TAX-EXEMPT STATUS AT BOTH THE STATE AND FEDERAL LEVELS. THE AGENCY ANNUALLY FILES IRS FORM 990 - RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, REPORTING VARIOUS INFORMATION THAT THE IRS USES TO MONITOR THE ACTITIVITES OF TAX-EXEMPT ENTITIES. THESE TAX RETURNS ARE SUBJECT TO REVIEW BY THE TAXING AUTHORITIES GENERALLY FOR A PERIOD OF THREE YEARS AFTER THEY WERE FILED. THE TAX RETURNS FOR THE YEARS ENDED JUNE 30, 2012, 2013, AND 2014 ARE SUBJECT TO EXAMINATION BY THE IRS THE AGENCY CURRENTLY HAS NO TAX EXAMINATIONS IN PROGRESS. X X X X 0 1 0 0 0 0 0 0 0 PATRICK MCGUIGAN EXECUTIVE DIRECTOR - UNTIL 9/2016 161632 0 0 0 0 0 1644 0 9720 0 172996 0 0 0 PART I, LINE 3 COMPENSATION FOR THE EXECUTIVE DIRECTOR IS APPROVED BY THE BOARD OF DIRECTORS AS PART OF THE BUDGET PROCESS BASED ON THE RECOMMENDATION OF THE COMPENSATION COMMITTEE. PART I, LINE 4B PARTICIPANT IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN PATRICK MCGUIGAN $25,000. RESTRICTED CASH ASSOCIATED WITH READY TO LEARN PROGRAM. THE FUNDERS OF THE READY TO LEARN PROGRAM APPROVED ROGER WILLIAMS UNIVERSITY AS THE PARTY RESPONSIBLE FOR PROVIDING SERVICES PROGRAM. 2017-05-01 1401100 THE ASSET TRANSFERRED WAS CASH THEREFORE THE FMV AND THE BOOK VALUE WERE THE SAME. 050277222 ROGER WILLIAMS UNIVERSITY ONE OLD FERRY ROAD BRISTOL RI 02809 501(C)(3) 0 0 0 0 FORM 990, PART III, LINE 3 DURING THE FISCAL YEAR, PROVIDENCE PLAN CEASED CONDUCTING PROGRAM SERVICES. TWO OF ITS FOUR PROGRAMS BECAME INDEPENDENT NONPROFIT ORGANIZATIONS AND THE REMAINING PROGRAMS BECAME PROGRAMS OF INSTITUTIONS OF HIGHER EDUCATION. IN ALL CASES, THE PROGRAM ASSETS WERE TRANSFERRED IN ACCORDANCE WITH LEGAL AGREEMENTS AND EACH OF THE PROGRAM'S SERVICES AND MISSIONS DID NOT CHANGE. YOUTHBUILD PROVIDENCE AND BUILDING FUTURES EACH FORMED THEIR OWN SEPARATE NONPROFIT ORGANIZATIONS. PROVIDENCE TALKS AND READY TO LEARN PROVIDENCE BECAME PART OF ROGER WILLIAMS UNIVERSITY AND DATASPARK JOINED THE UNIVERSITY OF RHODE ISLAND. FORM 990, PART VI, SECTION A, LINE 5 ON JULY 26, 2016, THE PROVIDENCE PLAN LEARNED THAT IT HAD SUFFERED A FRAUDULENT CONVERSION OF FUNDS BY THE INDIVIDUAL WHO SERVED AS THE PROVIDENCE PLAN'S DIRECTOR OF FINANCE AND ADMINISTRATION FROM 2009 TO JULY 26, 2016. THE TOTAL AMOUNT OF FUNDS FRAUDULENTLY CONVERTED FROM THE PROVIDENCE PLAN TO THE FORMER DIRECTOR OF FINANCE AND ADMINISTRATION'S PERSONAL USE BETWEEN SEPTEMBER 22, 2009, AND JULY 15, 2016, WAS $741,100, RESULTING IN A SIGNIFICANT DIVERSION OF THE PROVIDENCE PLAN'S ASSETS. AS A RESULT OF LEARNING THIS INFORMATION, SEVERAL CORRECTIVE ACTION STEPS WERE TAKEN BY PROVIDENCE PLAN MANAGEMENT AND THE BOARD. THE FORMER DIRECTOR OF FINANCE AND ADMINISTRATION WAS LET GO IMMEDIATELY, A FORENSIC AUDIT WAS COMMISSIONED IMMEDIATELY, AND A REVIEW OF ALL INTERNAL CONTROLS WAS COMMENCED WITH CORRECTIVE ACTIONS TAKEN AS ISSUES WERE IDENTIFIED. THE ORGANIZATION QUANTIFIED AND REPORTED THE LOSS INCURRED DURING FISCAL YEAR ENDED JUNE 30, 2016 AS A RESULT OF A FORENSIC AUDIT. THE LOSS ON EMBEZZLEMENT FOR THE FISCAL YEAR ENDED JUNE 30, 2016, WAS $327,407,AND WAS REPORTED IN PART IX, LINE 24A OF THE 2015 FORM 990. IN ADDITION, ACCRUED EXPENSES INCLUDE THE AMOUNT DUE BACK TO DONORS AND GRANTORS OF $194,343 WERE REPORTED IN PART X, LINE 17 OF THE 2015 FORM 990. THE LOSS ON EMBEZZLEMENT FOR THE FISCAL YEAR ENDED JUNE 30, 2017, IS 17,848, AND IS INCLUDED ON PART IX, LINE 24E OF THE 2016 FORM 990. IN ADDITION, ACCRUED EXPENSES, PART X, LINE 17, INCLUDE THE AMOUNT DUE BACK TO DONORS AND GRANTORS OF $139,816. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE EXTERNAL ACCOUNTANTS AND REVIEWED BY MANAGMENT. ONCE ALL ARE SATISFIED WITH THE FORM, IT IS FINALIZED AND A COPY IS SENT TO ALL BOARD MEMBERS AT THE SUBSEQUENT BOARD MEETING. THE BOARD IS ASKED IF THEY HAVE ANY QUESTIONS OR COMMENTS AND A GENERAL REVIEW OF THE FORM IS CONDUCTED BY MANAGEMENT. REVISIONS, CORRECTIONS, ETC ARE MADE AS NECESSARY. SUBSEQUENT TO THIS MEETING, THE FORM IS SUBMITTED TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE ORGANIZATIONS CONFLICT OF INTEREST POLICY IS PROVIDED TO ALL OFFICERS, DIRECTORS AND KEY EMPLOYEES. THESE PEOPLE ARE ASKED TO REVIEW THE POLICY AND SIGN A STATEMENT INDICATING THAT THEY UNDERSTAND THE POLICY AND HAVE REPORTED ALL POTENTIAL CONFLICTS DURING THE PAST YEAR IN ACCORDANCE WITH THE POLICY AND WILL REPORT ALL POTENTIAL CONFLICTS THE COMING YEAR. ALL POTENTIAL CONFLICTS ARE EVALUATED BY THE BOARD TO DETERMINE IF A CONFLICT ACTUALLY EXISTS. IN THOSE INSTANCES WHERE THE POTENTIAL TRANSACTION IS A CONFLICT, THE BOARD EXAMINES THE TRANSACTION AND A VOTE IS TAKEN (WITH THOSE INVOLVED RECUSING THEMSELVES) AS TO WHETHER THE ORGANIZATION WILL ENTER INTO THE TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 STARTING IN SEPTEMBER 2016, PROVIDENCE PLAN'S BOARD OF DIRECTORS ENTERED INTO A SERIES OF SHORT TERM (3-4 MONTH) CONTRACTS WITH AN EXECUTIVE DIRECTOR TO GUIDE THE TRANSITION OF PROGRAMS AND SERVICES TO NEW ORGANIZATIONAL HOMES, ENSURE FULL COMPLIANCE WITH ALL FUNDER REQUIREMENTS, AND ASSIST WITH THE WIND DOWN OF THE ORGANIZATION. THE BOARD APPROVED THESE CONTRACTS, BASED ON PERFORMANCE AND RESULTS, IN EXECUTIVE SESSIONS OF BOARD MEETINGS. AS SUCH, WHILE NO PERFORMANCE APPRAISAL WAS COMPLETED DURING FY17, THE DE FACTO APPRAISAL WAS THE DETERMINATION TO RENEW THE CONTRACT WITH THE EXECUTIVE DIRECTOR AT THE TIME OF THE EXPIRATION OF EACH AGREEMENT. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES IT GOVERNING DOCUMENTS (ARTICLES OF INCORPORATION AND BY-LAWS), ITS CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. THE ORGANIZATION WILL MAIL COPIES UPON REQUEST OR PROVIDE COPIES TO THOSE WHO COME TO THE ADMINISTRATION OFFICES DURING NORMAL BUSINESS HOURS. THE ORGANIZATION CHARGES FOR THE COPIES IN ACCORDANCE WITH IRS REGULATIONS. FORM 990, PART IX, LINE 11G CONSULTANTS: PROGRAM SERVICE EXPENSES 1,469,443. MANAGEMENT AND GENERAL EXPENSES 18,194. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,487,637. SUBCONTRACTORS: PROGRAM SERVICE EXPENSES 140,601. MANAGEMENT AND GENERAL EXPENSES 25,069. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 165,670. OTHER : PROGRAM SERVICE EXPENSES 16,300. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 16,300. FORM 990, PART XII, LINE 2C THE BOARD OF DIRECTORS DECIDED TO FORGO AN AUDIT THE ORGANIZATION'S FINANCIAL STATEMENTS FOR THE YEAR ENDED 6/30/17 BECAUSE SUBSTANTIALLY ALL OF ITS PROGRAMS WERE TRANSFERRED TO OTHER ORGANIZATIONS DURING THE YEAR ENDED 6/30/17. PART XII LINE 3(B) THE ORGANIZATION DID NOT UNDERGO AN AUDIT OF EXPENDITURES OF FEDERAL AWARDS BECAUSE ALL PROGRAMS WITH SUCH EXPENDITURES WERE TRANSFERRED TO OTHER ORGANIZATIONS. FORM 990 PART IX, LINE 24E AS DISCLOSED IN RESPONSE TO FORM 990 PART VI, QUESTION #5, ON JULY 26, 2016, THE PROVIDENCE PLAN LEARNED THAT IT HAD SUFFERED A FRAUDULENT CONVERSION OF FUNDS BY THE INDIVIDUAL WHO SERVED AS THE PROVIDENCE PLAN'S DIRECTOR OF FINANCE AND ADMINISTRATION FROM 2009 TO JULY 26, 2016. THE LOSS ON EMBEZZLEMENT FOR THE FISCAL YEAR ENDED JUNE 30, 2017, IS $17,848, AND IS INCLUDED ON PART IX, LINE 24E OF THE 2016 FORM 990. IN ADDITION, ACCRUED EXPENSES INCLUDE THE AMOUNT DUE BACK TO DONORS AND GRANTORS OF $139,816.