Rhode Island College Foundation

What Rhode Island College Foundation does

Rhode Island College Foundation is a separate 501(c)3 nonprofit entity, founded in 1965 and based in Providence, Rhode Island, whose sole purpose is to raise and manage private philanthropic funds in support of Rhode Island College (RIC), the oldest of the state's three public higher-education institutions. RIC itself operates a 180-acre main campus on Mount Pleasant Avenue in Providence, delivering undergraduate and graduate programs across the Schools of Arts and Sciences, Business, Education and Human Development, Nursing, and Social Work, supported by standard higher-ed technology infrastructure (learning management systems, James P. Adams Library digital collections on a TIND platform with AA-WCAG compliance) and an in-house RIC Transfer Evaluation System integrated with the nationwide Transferology network.

Rhode Island College is positioned as the most affordable high-quality four-year degree in the region, with multiple differentiated pricing instruments: the Hope Scholarship (tuition-free junior and senior years for eligible Rhode Islanders), the Northeast Neighbors Discount (40% off out-of-state tuition for applicants from seven neighboring states), and the Joint Admissions Agreement with the Community College of Rhode Island (GPA-tiered tuition reductions of 10–30%). It is the only federally designated Hispanic Serving Institution (HSI) and Minority Serving Institution (MSI) four-year comprehensive institution in Rhode Island, giving it exclusive access to HSI-specific federal funding and HACU membership, and it carries a strong reputation stack — #1 among public master's universities in New England (Washington Monthly), #2 for Social Mobility (2026 U.S. News), and a Top 10 Best Value designation (Money Magazine 2021).

Revenue is generated through tuition and fees (in-state and out-of-state, with extensive financial aid covering over 70% of students), federal/state financial aid processing (Federal School Code 003407 for FAFSA), institutional scholarships and grants, and private donations managed by the Foundation. Customer segments are segmented by enrollment path rather than industry: first-generation college students (one-third of enrollment), transfer students (with a 25% year-over-year increase in Fall 2025), Hispanic/Latino students, bilingual learners (Project ExCEL), foster care youth, military-affiliated students, and regional out-of-state students. The operating college is funded through a combination of state appropriations, tuition, fees, and private donations channeled through the Foundation; the Foundation itself runs on a small staff (11–50 employees) and has received targeted philanthropic grants including $342,000 from The Champlin Foundation in December 2020.

Name

Rhode Island College Foundation

Legal name

Rhode Island College

Website

https://ric.edu

Company type

Public

Founded year

1965

Operating status

Operating

Headcount range

11–50 employees

Short description

Rhode Island College Foundation is a Providence-based 501(c)3 nonprofit that raises and manages private philanthropic funds in support of Rhode Island College, the state's oldest public four-year institution and its only designated Hispanic and Minority Serving Institution.

Ownership category

akta.pro rank

Product category

Higher Education Fundraising

NAICS

Grantmaking Foundations (813211), Colleges, Universities, and Professional Schools (6113), Grantmaking and Giving Services (81321)

SIC

Services-Educational Services (8200)

akta.pro primary industry

Education Grantmaking Foundations (BPAGAKAK)

akta.pro secondary industries

Private Foundations (BPAGAKAA), Major Gifts, Planned Giving & Endowment Development (EDALAOAC), College Access, Scholarships & Student Success Nonprofits (BPAGADAE)

Keywords

• Higher education philanthropy
• Donor relations
• Alumni engagement
• Scholarship funding
• Endowment management

Headquarters

HQ city

Providence

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Tuition and Fees: RIC generates revenue through undergraduate and graduate tuition, with varying rates for in-state and out-of-state students. Financial aid, scholarships, and tuition discounts are offered to offset costs for eligible students.
2. Financial Aid Processing: Federal School Code 003407 for FAFSA processing. RIC administers federal aid, state aid, institutional scholarships, and grant programs.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels14 records

Core offering

The Rhode Island College Foundation is a separate 501(c)3 nonprofit entity founded in 1965 that is solely dedicated to raising, managing, and disbursing private charitable funds for Rhode Island College. The Foundation accepts donations and endowed gifts, stewards those funds, and channels them to the college's academic programs, student scholarships, faculty development, and institutional priorities, supporting initiatives such as the Hope Scholarship and donor-funded student support programs.

Product overview

Rhode Island College operates as a public higher education institution offering a unified portfolio of academic degree programs, student support services, and institutional resources. The core educational offerings span undergraduate and graduate degrees across multiple disciplines, supported by specialized programs including the Hope Scholarship for tuition assistance, transfer pathways from community colleges, library and research services, and targeted support for first-generation and bilingual students. The institution integrates academic programs with support infrastructure including career services, disability access, and veteran resources to serve a diverse student population.

Differentiator

Problem solved

Functional benefit

Products and services

• Charitable Fundraising and Endowment Management for Rhode Island College Accepts, invests, manages, and disburses private charitable donations and endowed gifts to support Rhode Island College's academic programs, student scholarships, faculty development, transfer pathway enhancements, and institutional priorities, including donor-funded programs such as the Hope Scholarship.

Quantifiable outcome

• 25% year-over-year increase in transfer student enrollment
• +4 more outcomes

Named customers7 records

Segments8 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Community College of Rhode Island (CCRI)coreStrategic or Co-development PartnerJoint Admissions Agreement (JAA) between RIC and CCRI allowing CCRI students to easily transfer to RIC. Students can begin working toward bachelor's degrees at RIC while earning their associates degree at CCRI. Benefits include conditional acceptance to RIC, waived RIC application fee, up to 30% tuition reduction based on CCRI GPA, and one-on-one advising at both institutions.
• Bristol Community CollegecoreStrategic or Co-development PartnerTransfer articulation agreement with Bristol Community College (BCC) facilitating student transfers to RIC. Students can transfer up to 90 credits from regionally accredited colleges for courses with grades of C or higher.
• University of Rhode Island (URI)minorStrategic or Co-development PartnerMentioned in state transfer website context - students transferring from URI can access information through the Rhode Island Office of Postsecondary Commissioner (RIOPC) transfer system. Also referenced in Joint Admissions Agreement policy documentation.
• Hispanic Association of Colleges and Universities (HACU)minorOthersRIC is a member of HACU, the Hispanic Association of Colleges and Universities, supporting the college's HSI designation and commitment to serving Hispanic/Latino students.
• TransferologycoreTechnology or IntegrationRIC uses Transferology, a nationwide network designed to help students explore college transfer options. Students can add complete coursework, exams, or military experiences to see which institutions offer equivalent credit upon transfer. RIC has invested in populating the system with courses for accurate evaluation.
• Target High School DistrictscoreStrategic or Co-development PartnerUpward Bound program partnerships with target high schools including Central Falls High School, Central High School, East Providence High School, Hope High School, Mount Pleasant High School, and Shea High School. RIC is the only Upward Bound location in Rhode Island.
• Blackstone Academy Charter SchoolminorStrategic or Co-development PartnerPEP Program partnership with Blackstone Academy Charter School in Pawtucket, where students like Jinnette Santana were recruited and prepared for college enrollment at RIC.
• U.S. Department of StateminorStrategic or Co-development PartnerAlumni John Mercedes received the 2024 Foreign Affairs Information Technology (FAIT) Fellowship from the U.S. Department of State, a two-year fellowship leading to career in the Foreign Service as a diplomatic technology officer.
• Worcester Polytechnic InstituteminorOthersFAIT Fellowship provides annual stipend of $43,500 for John Mercedes to pursue Master's degree at Worcester Polytechnic Institute as part of his path to becoming a diplomatic technology officer.
• Deimos EngenhariaminorStrategic or Co-development PartnerPortuguese space systems design and operational space software company where John Mercedes completed an internship in Lisbon, Portugal through the CIEE Global Internship Program.
• Rhode Island Interlocal Risk Management TrustminorOthersEmployer of FAIT Fellow John Mercedes post-graduation, where he works as a business analyst connecting with diverse cultures and exploring crossroads between language learning, technology, and volunteerism.

Scale indicators13 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• UMass Boston: A public urban master's-level university in the New England region with a comparable mission around access, social mobility, and a diverse student body. Both institutions serve a high share of first-generation and Pell-eligible students and compete for the same regional transfer and commuter populations.
• UMass Dartmouth: A public comprehensive master's university in Massachusetts with similar program mix, affordability positioning, and regional recruitment footprint. RIC and UMass Dartmouth compete directly for Southern New England students and both emphasize professional pathways.
• Bridgewater State University: A Massachusetts public comprehensive university offering undergraduate and graduate programs with a similar affordability and social mobility positioning. Both institutions compete in the New England public master's segment and emphasize access for first-generation students.
• Salem State University: A public master's-level university in Massachusetts with comparable size, mission, and student demographics. Both schools operate with a public regional comprehensive model and a focus on transfer students and first-generation learners.
• Southern Connecticut State University: A public comprehensive master's university in the New England region with overlapping student demographics and similar degree programs. Both institutions compete for Connecticut and regional New England students and emphasize social mobility outcomes.
• Central Connecticut State University: A public comprehensive university in New England offering similar undergraduate and graduate programs. Both schools compete for the same regional transfer and commuter students and emphasize workforce-aligned degrees.
• Framingham State University: A Massachusetts public comprehensive university with a comparable size, mission, and focus on affordability. Both institutions serve similar commuter and first-generation populations in Southern New England.
• Worcester State University: A public master's-level university in central Massachusetts with similar student demographics and program mix. RIC and Worcester State are both viewed as accessible, affordable regional public universities in New England.
• Eastern Connecticut State University: A public liberal arts comprehensive university in the Connecticut State University System with comparable size and mission. Both schools compete in the New England public comprehensive segment and serve a similar transfer and first-generation population.

Broad incumbents

• University of New Haven: A private comprehensive university in Connecticut with a similar mix of professional and liberal arts programs. While not a direct public peer, it draws from the same Southern New England student pool and competes for transfer students and adult learners.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/RICNews
• YouTubeyoutube.com/channel/UCoDD7mbzljHz0VuI3mRgXVA/videos
• Facebookfacebook.com/rhodeislandcollege
• LinkedInlinkedin.com/company/rhode-island-college
• Instagraminstagram.com/rhodeislandcollege
• TikToktiktok.com/@ric.news

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors1 record

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M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rhode Island College Foundation