R.I. Foundation awards record $52M in 2018, despite steep drop in revenue

Updated at 6 p.m.

THE RHODE ISLAND FOUNDATION says it had a record year for contributions in 2018, collecting $114 million in total funds, according to the organization's annual report. / COURTESY RHODE ISLAND FOUNDATION
THE RHODE ISLAND FOUNDATION says it had a record year for contributions in 2018, collecting $114 million in total funds, according to the organization's annual report. / COURTESY RHODE ISLAND FOUNDATION
PROVIDENCE – The Rhode Island Foundation awarded a record $52 million in grants to more than 1,900 nonprofits in 2018 despite seeing its annual revenue drop by more than half because of investment losses, according to the foundation's 2018 annual report released last week. The nonprofit foundation reported that its assets totaled $971.4 million at…

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