ST JOSEPH HEALTH SERVICES OF RI

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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

Principal Officer

STEPHEN DEL SESTO

Phone

4014536400

Tax Period

2023-10-01 to 2024-09-30

ST JOSEPH HEALTH SERVICES OF RI, founded in 1946, is a micro nonprofit that reported $301 in total revenue in fiscal year 2023. Revenue fell 100% from the prior year — a significant decline worth monitoring. Expenses of $23K exceeded revenue, resulting in a 7651% operating deficit.

Mission

THE MISSION OF ST. JOSEPH HEALTH SERVICES OF RI IS TO PRESERVE, RESTORE AND ENHANCE THE HEALTH OF INDIVIDUALS AND FAMILIES WE SERVE WITHIN OUR COMMUNITIES.

Program Service Accomplishments

Program 1

IN JUNE 2014, SUBSTANTIALLY ALL ASSETS OF ST. JOSEPH HEALTH SERVICES OF RHODE ISLAND WERE TRANSFERRED TO PROSPECT CHARTERCARE, LLC, UNDER A PLAN APPROVED BY THE RHODE ISLAND ATTORNEY GENERAL AND...

IN JUNE 2014, SUBSTANTIALLY ALL ASSETS OF ST. JOSEPH HEALTH SERVICES OF RHODE ISLAND WERE TRANSFERRED TO PROSPECT CHARTERCARE, LLC, UNDER A PLAN APPROVED BY THE RHODE ISLAND ATTORNEY GENERAL AND UNDER THE SUPERVISION OF THE RHODE ISLAND DEPARTMENT OF HEALTH. THE NON-PROFIT CORPORATION REMAINS IN EXISTENCE TO ALLOW FOR THE ORDERLY WIND-DOWN OF THE AFFAIRS OF THE HOSPITAL, PRINCIPALLY THE COLLECTION OF REVENUE FROM MEDICARE AND OTHER THIRD PARTY PAYORS FOR MEDICAL SERVICES PREVIOUSLY PROVIDED AND PAYMENT OBLIGATIONS FOR THE PENSION LIABILITY OF THE HOSPITAL.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $301

Other Revenue $0

TOTAL REVENUE $301

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $23,332

TOTAL EXPENSES $23,332

Year-over-Year Comparison

	2023	2022	Change
Revenue	$301	$76,710	-1.0%
Expenses	$23,332	$37,189	-0.4%
Net Income	$-23,031	$39,521	-1.6%

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

Governance

Voting Members

Independent Members

Employees

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEPHEN DEL SESTO	LIQUIDATING RECEIVER	1.00	Officer Director	$0	$0	$0

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	$301	$23,332	$33,176	$-23,031
2023	$76,710	$37,189	$56,207	$39,521
2022	$317,123	$966,526	$16,686	$-649,403
2021	$11,330,812	$112,263	$666,089	$11,218,549
2020	$356,672	$2,936,805	$4,343,385	$-2,580,133
2019	$60,248	$41,048	$6,983,466	$19,200
2018	$585,001	$461,258	$6,848,008	$123,743