RHODE ISLAND CREDIT UNION

EIN: 050252335

Providence, RI

Total Revenue
$16,616,393
Total Expenses
$16,688,913
Total Assets
$400,909,586
Net Assets
$37,694,501
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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
1946
Legal Domicile
RI
Principal Officer
David B Suvall
Phone
4017517440
Tax Period
2023-01-01 to 2023-12-31

RHODE ISLAND CREDIT UNION, founded in 1946, is a mid-sized nonprofit that reported $16.6M in total revenue in fiscal year 2023. Net assets of $37.7M represent 27 months of operating reserves.

Mission

Rhode Island Credit Union Provides financial services to members

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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 $16,616,393
Investment Income $0
Other Revenue $0
TOTAL REVENUE $16,616,393

Expense Breakdown

Grants Paid $0
Salaries & Benefits $7,343,401
Fundraising Expenses $0
Program Expenses $16,688,913
Other Expenses $9,345,512
TOTAL EXPENSES $16,688,913

Year-over-Year Comparison

2023 2022 Change
Revenue $16,616,393 $16,174,747 +0.0%
Expenses $16,688,913 $13,517,856 +0.2%
Net Income $-72,520 $2,656,891 -1.0%
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
9
Independent Members
N/A
Employees
80
Volunteers
9

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
5
$1,107,809
Total Directors
10
$141,150
Key Employees
5
$1,107,809
Highest Compensated
8
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
David B Suvall President/CEO 40
Officer Key Emp Highest
$254,522 $38,396 $292,918
Nancy L Zeppa Executive Vice President/COO 40
Officer Key Emp Highest
$191,323 $69,216 $260,539
Dana R Taglianetti Senior VP/CFO 40
Officer Key Emp Highest
$145,899 $54,446 $200,345
Maureen Jendzejec Senior VP/CLO 40
Officer Key Emp Highest
$143,928 $43,612 $187,540
John Morawski VP/IT 40
Highest
$119,900 $56,211 $176,111
Gina M DePalo SVP/CRMO 40
Officer Key Emp Highest
$131,908 $34,559 $166,467
David Marsella In House Attorney 40
Highest
$107,622 $41,642 $149,264
Louis Votta Consumer Loan Operations Manager 40
Highest
$103,730 $43,360 $147,090
Jane F Correia Board Chair 5
Director
$20,400 $0 $20,400
Ernest A DeAngelis First Vice Chair 5
Director
$18,000 $0 $18,000
Dennis Tripodi Assistant Treasurer 5
Director
$18,000 $0 $18,000
Roger Pincince Board Member 5
Director
$18,000 $0 $18,000
Robert E Christie Board Treasurer 5
Director
$17,250 $0 $17,250
Leroy RoseJe Director 5
Director
$15,000 $0 $15,000
Beverly A Dwyer Board Member 5
Director
$13,500 $0 $13,500
Joseph Durand Board Member 5
Director
$10,500 $0 $10,500
Robert P Gemma Director 5
Director
$9,000 $0 $9,000
Henry Godin Jr Board Member 5
Director
$1,500 $0 $1,500
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 No data No data No data No data
2023 $16,616,393 $16,688,913 $400,909,586 $-72,520
2022 $16,174,747 $13,517,856 $402,123,591 $2,656,891
2021 $16,678,289 $12,908,550 $387,896,384 $3,769,739
2020 $13,959,766 $13,222,795 $346,174,314 $736,971
2019 $14,156,091 $12,839,187 $283,119,793 $1,316,904
2018 $13,098,610 $11,502,962 $276,763,143 $1,595,648
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