THE GREATER PROVIDENCE CHAMBER OF COMMERCE

EIN: 050203250

PROVIDENCE, RI

Total Revenue
$1,636,483
Total Expenses
$1,891,134
Total Assets
$10,538,355
Net Assets
$10,267,222
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1868
Legal Domicile
RI
Principal Officer
LAUREEN L WHITE
Phone
4015215000
Tax Period
2023-10-01 to 2024-09-30

THE GREATER PROVIDENCE CHAMBER OF COMMERCE, founded in 1868, is a community nonprofit that reported $1.6M in total revenue in fiscal year 2023. Expenses of $1.9M exceeded revenue, resulting in a 16% operating deficit.

Mission

PROMOTE BUSINESSES THROUGH THE ORGANIZATION OF VARIOUS MEETINGS, FUNCTIONS, AND PROGRAMS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,041,365
Investment Income $422,240
Other Revenue $172,878
TOTAL REVENUE $1,636,483

Expense Breakdown

Grants Paid $0
Salaries & Benefits $994,191
Fundraising Expenses $0
Other Expenses $896,943
TOTAL EXPENSES $1,891,134

Year-over-Year Comparison

2023 2022 Change
Revenue $1,636,483 $1,541,725 +0.1%
Expenses $1,891,134 $1,875,586 +0.0%
Net Income $-254,651 $-333,861 -0.2%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
42
Independent Members
41
Employees
7
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
7
$480,730
Total Directors
39
$304,395
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LAUREEN L WHITE PRESIDENT 40.00
Officer Director
$270,449 $33,946 $304,395
MEGHAN HUGHES CHAIR 2.00
Officer Director
$0 $0 $0
ALDEN ANDERSON IMMEDIATE PAST CHAIR/NOMINEE 2.00
Officer Director
$0 $0 $0
JONATHAN DUFFY PAST CHAIR 2.00
Officer Director
$0 $0 $0
DAVID RUBIN SECRETARY 2.00
Officer Director
$0 $0 $0
PATRICIA THOMPSON TREASURER 2.00
Officer Director
$0 $0 $0
RICHARD BERETTA JR DIRECTOR 2.00
Director
$0 $0 $0
MARIE BERNARDO-SOUSA DIRECTOR 2.00
Director
$0 $0 $0
BRIAN BRITSON DIRECTOR 2.00
Director
$0 $0 $0
CYNTHIA BUTLER DIRECTOR 2.00
Director
$0 $0 $0
RUSSELL CAREY DIRECTOR 2.00
Director
$0 $0 $0
MICHELE CINQUEGRANO DIRECTOR 2.00
Director
$0 $0 $0
MARC CRISAFULLI DIRECTOR 2.00
Director
$0 $0 $0
JEREMY CRISP DIRECTOR 2.00
Director
$0 $0 $0
BRADFORD DIMEO DIRECTOR 2.00
Director
$0 $0 $0
JOHN FERNANDEZ DIRECTOR 2.00
Director
$0 $0 $0
DIANA FRANCHITTO DIRECTOR 2.00
Director
$0 $0 $0
CHRISTOPHER GRAHAM DIRECTOR 2.00
Director
$0 $0 $0
HAROLD HORVAT DIRECTOR 2.00
Director
$0 $0 $0
STEVEN ISSA DIRECTOR 2.00
Director
$0 $0 $0
KEITH KELLY DIRECTOR 2.00
Director
$0 $0 $0
MICHAEL LEE DIRECTOR 2.00
Director
$0 $0 $0
KATE LIBERMAN DIRECTOR 2.00
Director
$0 $0 $0
E ROBERT LUPONE DIRECTOR 2.00
Director
$0 $0 $0
CHERYL MERCHANT DIRECTOR 2.00
Director
$0 $0 $0
RICK METTERS DIRECTOR 2.00
Director
$0 $0 $0
ROSS NELSON DIRECTOR 2.00
Director
$0 $0 $0
DAVID ORTIZ DIRECTOR 2.00
Director
$0 $0 $0
MARC PARLANGE DIRECTOR 2.00
Director
$0 $0 $0
JOSEPH PERRONI DIRECTOR 2.00
Director
$0 $0 $0
JENNIFER ROMANO DIRECTOR 2.00
Director
$0 $0 $0
TED SHALLCROSS DIRECTOR 2.00
Director
$0 $0 $0
GEORGE SHUSTER DIRECTOR 2.00
Director
$0 $0 $0
BRIAN SPERO DIRECTOR 2.00
Director
$0 $0 $0
MICHELE STRETON DIRECTOR 2.00
Director
$0 $0 $0
KEVIN TRACY DIRECTOR 2.00
Director
$0 $0 $0
ROBERT VINCENT DIRECTOR 2.00
Director
$0 $0 $0
MICHAEL WAGNER DIRECTOR 2.00
Director
$0 $0 $0
MARTHA WOFFORD DIRECTOR 2.00
Director
$0 $0 $0
VALERIE B MURRAY SENIOR VP/FINANCE 40.00
Officer
$139,912 $36,423 $176,335
JANET RAYMOND RETIRED 053124 SENIOR VP/ECONOMIC DEVELOP 40.00
Highest
$134,572 $16,775 $151,347
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $1,636,483 $1,891,134 $10,538,355 $-254,651
2023 $1,541,725 $1,875,586 $9,304,330 $-333,861
2022 $1,275,481 $1,397,974 $8,755,877 $-122,493
2021 $1,830,957 $1,584,988 $10,637,936 $245,969
2020 $1,178,740 $1,451,288 $9,349,563 $-272,548
2019 $1,425,905 $1,498,832 $9,128,280 $-72,927
2018 $1,850,010 $1,610,648 $9,235,193 $239,362
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