# Rhode Island Foundation

Rhode Island Foundation is an Endowment / Foundation based in Providence, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Providence, United States
- **Region:** North America
- **Address:** One Union Station, Providence, RI 02903, United States
- **Founded:** 1916
- **Assets under management:** 1400 (Altss estimate)
- **Website:** rifoundation.org
- **LinkedIn:** https://www.linkedin.com/company/the-rhode-island-foundation

## Regulatory record

- **Reports private funds:** No

## About

The Rhode Island Foundation was established in 1916. It functions as the primary community foundation for the state, awarding grants and structuring impact investments. David N. Cicilline became President and CEO in 2023 after serving as a U.S. Congressman. The foundation allocates across grants and a dedicated impact investing book. Current allocations include 14.29 percent to private equity. Confirmed positions include Neighborhood Health Plan of RI, Horizon Pharmacy, Capital Good Fund and The Public's Radio, all held through the impact program. Geographic focus remains Rhode Island with limited exposure elsewhere in the United States. The $41 million impact portfolio contains over twenty loans, lines of credit and equity stakes. The foundation employs 72 professionals and occupies space at One Union Station in Providence after selling the building in 2022. It maintains membership in the Council on Foundations and CFLeads. January 2025: Sponsored Community Information Sessions covering the Five-Year Action Plan and 2025 grant programs. Cambridge Associates serves as investment advisor. The foundation operates as a grantmaking and impact vehicle rather than a traditional endowment manager. Its structure ties investment decisions directly to local civic priorities through board oversight and named partnerships with entities such as the Gilbane Family Foundation.

## Sectors

- Education
- Health
- Economic Security
- Housing
- Climate Action

## People

- David N. Cicilline — President and CEO
- Ann-Marie Harrington — Chair of the Board of Directors

## Questions

### Who runs investment decisions at Rhode Island Foundation?

David N. Cicilline serves as President and CEO. Ann-Marie Harrington chairs the board. Cambridge Associates acts as external investment advisor.

### How does Rhode Island Foundation source proprietary deal flow?

The foundation identifies opportunities through local nonprofit networks and civic partners in Rhode Island. It structures loans and equity positions directly with organizations such as Farm Fresh Rhode Island.

### Does Rhode Island Foundation participate in fund commitments or only direct deals?

Activity centers on direct impact investments and grants. The record shows no external fund commitments.

### What investment stages does Rhode Island Foundation typically target?

The foundation focuses on established nonprofits and social enterprises rather than early-stage venture. Positions include operating businesses in healthcare and financial services.

### What is Rhode Island Foundation's known posture on co-investments alongside external GPs?

The foundation partners with local entities such as the Gilbane Family Foundation on education funding. It does not disclose co-investment activity with external private equity managers.

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/rhode-island-foundation

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