COMING MONDAY: The Tangled Web of ProvPort’s Managers and Their Role in the Wyatt Detention Center
Sunday, June 19, 2016
As GoLocal first reported on Thursday:
ProvPort, the non-profit operator of the Port of Providence who is seeking a $20 million taxpayer bond, paid management fees to a sister for-profit company of more than $11 million over the three most recently reported years. The $11 million is approximately half on ProvPort's total revenue.
The last minute amendment to bolster the land holdings of ProvPort in Rhode Island's Fiscal Year 2017 budget was adopted into Article 5 of the budget 59-12 on Wednesday. The budget passed on Wednesday night by a vote of 59-13.
According to IRS documents, ProvPort paid management fees of $3.731 million in 2012, $3.631 million in 2013, and $3.655 million in 2014 — totaling $11,017 million in total management fees to the for-profit company. These are the most recent tax documents available.
In addition, ProvPort spokesperson Bill Fischer did confirm that the non-profit ProvPort only has one employee — Bill Brody, its legal counsel. According to IRS forms, Brody earned compensation of $225,000 as staff attorney.
Read More on Monday
- Non-Profit ProvPort Paid $11 Million in Management Fees to For-Profit Company UPDATED
- Cranes Arrive at ProvPort: $20 Million Project a Reality
- UPDATED: Report Reveals Rampant Violations At Wyatt
- UPDATED: Wyatt Detention Center Appoints New CEO
- ProvPort Expands Operations - Two Liebherr 550 Mobile Harbor Cranes Begin Operation
- NEW: Major Settlement Announced in 2008 Wyatt Detention Death
- ProvPort Expands - Leases 14 Acres of City Land
- NEW: Wyatt Commission to Meet Today
- NEW: Daniel Martin Named Warden at Wyatt Detention Facility
- NEW: Wyatt Upgraded to ‘Good’ in Quality Assurance Review
- NEW: EDC & ProvPort Bring Two Upgraded Mobile Cranes to Port of Providence
- ProvPort Gets $10.5M Federal Grant