Richard Waterman Trust
Richard Waterman Trust is a private foundation, based in Cranston, RI. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $1.4M in total assets. In 2025, it awarded 2 grants totaling $69K. Net investment income was $93K.
Richard Waterman Trust at a glance
In short: Richard Waterman Trust gave $69K across 2 grants in 2025 (avg $35K), mostly in Rhode Island. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $69,000
- +0.0% vs 2024
- Grants made (2025)
- 2
- +0.0% vs 2024
- Average grant
- $34,500
- +0.0% vs 2024
- Median grant
- $34,500
- Total assets
- $1,353,275
- -0.6% vs 2024
- Primary geography
- Rhode Island (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who Richard Waterman Trust funds
How this funder distributes its grants
Top Recipients
Top 2 recipients in 2025
The largest 2025 recipient was Mount Vernon Larger Parish ($60K). Together the top 2 received $69K.
Grant Size Distribution
10 grants across all recorded years
The most common grant size was under $50K: 5 grants of 10 (50%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 2 itemized grants.
States
Cities
How Richard Waterman Trust gives
- Giving held roughly steady from 2022 to 2025 (+0%). Method
- In 2025 it paid out 96% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $69K (2021) to $77K (2020). In 2025 it made 2 grants totaling $69K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Mount Vernon Larger Parish Foster, RI | Pastoral Support | $60,000 |
| Mount Vernon Baptist Church Foster, RI | Operating Expenses | $9,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $1,353,275 | $105,255 | $112,941 | $69,000 | 2 | $71,510 | $92,600 | $74,522 |
| 2024 | $1,361,112 | $110,678 | $115,675 | $69,000 | 2 | $71,500 | $96,079 | $70,155 |
| 2023 | $1,494,052 | $122,761 | $121,675 | $69,000 | 2 | $71,500 | $103,928 | $67,052 |
| 2022 | $1,508,929 | $103,595 | $126,558 | $69,000 | 2 | $71,400 | $85,869 | $78,181 |
| 2021 | $1,572,263 | $168,813 | $115,494 | $69,000 | 2 | $71,478 | $149,950 | $83,045 |
| 2020 | $1,603,002 | $99,212 | $123,765 | $77,250 | 2 | — | $82,277 | $80,589 |
Under IRS private-foundation payout rules, Richard Waterman Trust reported a distributable amount of $75K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Richard Waterman Trust's 2025 filing lists 4 officers; all 4 officers listed in 2025 are compensated.
Officers on the 2025 filing
Priscilla Waterman Pavel
Trustee
On filings since 2020
1 hr/week
$12K (2020) → $3K (2025)
Holden T. Waterman
Trustee
On filings since 2021
1 hr/week
$12K (2021) → $12K (2025)
Deborah Riccio
Trustee
New on the 2025 filing
1 hr/week
$6K (2025)
Walter D. Waterman III
Principal Manager
On filings since 2020
2 hrs/week
$20K (2020) → $20K (2025)
Former officers (1)
- Former: Byron E. Waterman (2020) — Trustee
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $20K, to Walter D Waterman III (Principal Manager). 4 officers or directors reported compensation on that filing.
Frequently asked questions about Richard Waterman Trust
How much does Richard Waterman Trust give each year?
Richard Waterman Trust gave $69K across 2 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $69K across 2 grants.
How large is Richard Waterman Trust?
Richard Waterman Trust reported $1.4M in total assets on its 2025 IRS Form 990-PF. It paid out $72K in qualifying distributions that year, against a required minimum of $75K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
Where does Richard Waterman Trust operate?
Richard Waterman Trust has awarded grants in Rhode Island.
What is Richard Waterman Trust's EIN?
Richard Waterman Trust's EIN (Employer Identification Number) is 05-6040728. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(2)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 11, 2026)
- IRS filings on file for fiscal years 2020–2024
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