PROVIDENCE, R.I. (AP) — The Rhode Island Foundation awarded a record $87 million in grants in 2020, about 25% of which was raised and distributed in direct response to the COVID-19 pandemic, the foundation announced Wednesday.
The grants went to more than 2,200 nonprofit organizations across the state.
The foundation raised more than $68 million last year, the third best fundraising year in the organization's 105-year history. The foundation ended 2020 with total assets of $1.2 billion and its total investment return for the year was just over 12%.
“Working with nonprofit organizations to support their critical services in the community, inspiring donors, and providing leadership around crucial issues all played a role as we worked to meet the needs of all Rhode Islanders during a year unlike any we’ve experienced before,” foundation President and CEO Neil Steinberg said in a statement.
In addition, the foundation in 2020 launched a three-year $8.5 million plan to expand its ongoing commitment to promoting racial equity and inclusion.
The Rhode Island Foundation is the largest funder of nonprofit organizations in the state.