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TO PROMOTE SCIENTIFIC RESEARCH AND DEVELOPMENT IN THE AREAS OF BIOMEDICAL AND INFORMATIONAL TECHNOLOGIES IN THE STATE OF RHODE ISLAND; AND TO SUPPORT JOB CREATION AND OTHER ECONOMIC ACTIVITY IN RHODE ISLAND BASED ON SUCH TECHNOLOGIES. SMALL BUSINESSES IN THE STATE OF RHODE ISLAND, OR INDIVIDUALS PLANNING TO FORM SUCH BUSINESSES, ARE ELIGIBLE TO APPLY FOR GRANT, EQUITY, AND LOAN AWARDS FROM THE FUND.
Source: IRS Form 990 (Tax Year 2024)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2023
Total Revenue
▼$2.4M
Program Spending
90%
of total expenses go to program services
Total Contributions
$1.8M
Total Expenses
▼$2.8M
Total Assets
$14.6M
Total Liabilities
▼$85.8K
Net Assets
$14.5M
Officer Compensation
→$546K
Other Salaries
$82.6K
Investment Income
$203.7K
Fundraising
▼N/A
Source: USAspending.gov · Searched by organization name
Total Federal Funding
$300K
Awards Found
1
| Awarding Agency | Description | Amount | Fiscal Year | Period | Link |
|---|---|---|---|---|---|
| Department of Commerce | TRANSLATIONAL VENTURES A REGIONAL INNOVATION INITIATIVE | $300K | FY2021 | Oct 2020 – Sep 2023 | Open → |
Department of Commerce
$300K
TRANSLATIONAL VENTURES A REGIONAL INNOVATION INITIATIVE
Source: Federal Audit Clearinghouse (fac.gov)
No federal single audit records found for this organization.
Single audits are required for entities expending $750,000+ in federal awards annually.
Tax Year 2023 · Source: IRS e-Filed Form 990Schedule J available
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Yes
Deductibility code: PC
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2023IRS e-File | $2.4M | $1.8M | $2.8M | $14.6M | $14.5M |
| 2022IRS e-File | $818K | $333.4K | $2.4M | $14.2M | $14.1M |
| 2021 | $8M | $490.4K | $3.6M | $16.4M | $16.2M |
| 2020 | $3.3M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
| Tax Year | Form Type | Source | Documents |
|---|---|---|---|
| 2024 | 990 | IRS e-File | |
| 2023 | 990 | DataIRS e-File | PDF not yet published by IRSView Filing → |
| 2022 | 990 | DataIRS e-File |
Financial data: IRS e-Filed Form 990 (Tax Year 2023)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2023)
Federal grants: USAspending.gov (live)
Organization info: IRS Business Master File
Tax-deductibility: IRS Publication 78
| Total |
|---|
| Thorne Sparkman Iii | President/managing Director | 40 | $307.9K | $0 | $58.5K | $366.3K |
| Robert Chatham | Vice President (as Of 12/24) | 40 | $209.5K | $0 | $27K | $236.5K |
| Larry Larson | Chairman | 1 | $0 | $0 | $0 | $0 |
| Christopher Mulvaney | CFO | 5 | $0 | $0 | $0 | $0 |
Thorne Sparkman Iii
President/managing Director
$366.3K
Hrs/Wk
40
Compensation
$307.9K
Related Orgs
$0
Other
$58.5K
Robert Chatham
Vice President (as Of 12/24)
$236.5K
Hrs/Wk
40
Compensation
$209.5K
Related Orgs
$0
Other
$27K
Larry Larson
Chairman
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Christopher Mulvaney
CFO
$0
Hrs/Wk
5
Compensation
$0
Related Orgs
$0
Other
$0
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Alden Anderson Jr | Director | 1 | $0 | $0 | $0 | $0 |
| Christopher Graham Esq | Director | 1 | $0 | $0 | $0 | $0 |
| Dennis J Duffy Esq | Director (to 06/24) | 1 | $0 | $0 | $0 | $0 |
| Donald L Stanford | Director | 1 | $0 | $0 | $0 | $0 |
| Jayne M Donegan Esq | Director | 1 | $0 | $0 | $0 | $0 |
| Nancy Gray | Director |
Alden Anderson Jr
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Christopher Graham Esq
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Dennis J Duffy Esq
Director (to 06/24)
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
| $575K |
| $2.4M |
| $11.9M |
| $11.8M |
| 2019 | $2.2M | $267.4K | $1.1M | $10.9M | $10.8M |
| 2018 | $2.2M | $1.2M | $1.7M | $10M | $9.7M |
| 2017 | $2.8M | $1.9M | $2.5M | $9.2M | $9.1M |
| 2016 | $2.8M | $2.1M | $2.6M | $9M | $8.8M |
| 2015 | $1.3M | $352.9K | $3M | $8.8M | $8.6M |
| 2014 | $3.9M | $1M | $2.6M | $10.4M | $10.3M |
| 2013 | $2.8M | $1.9M | $3.9M | $9.1M | $8.9M |
| 2012 | $4.1M | $3.5M | $1.9M | $10.2M | $10M |
| 2011 | $2.5M | $2M | $1.8M | $8M | $7.9M |
| 2021 | 990 | Data |
| 2020 | 990 | Data |
| 2019 | 990 | Data |
| 2018 | 990 | Data |
| 2017 | 990 | Data |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |
| 2011 | 990 | Data |
| 2010 | 990 | — |
| 2009 | 990 | — |
| 2008 | 990 | — |
| 2007 | 990 | — |
| 2006 | 990 | — |
| 2005 | 990 | — |
| 2004 | 990 | — |
| 2003 | 990 | — |
| 2002 | 990 | — |
| 2001 | 990 | — |
| 1 |
| $0 |
| $0 |
| $0 |
| $0 |
| Patrice Milos Phd | Director (to 06/24) | 1 | $0 | $0 | $0 | $0 |
| Robert J Maccini | Director | 1 | $0 | $0 | $0 | $0 |
Donald L Stanford
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Jayne M Donegan Esq
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Nancy Gray
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Patrice Milos Phd
Director (to 06/24)
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Robert J Maccini
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0