HOSPITAL ASSOCIATION OF RHODE ISLAND (EIN 050275206) - Form 990 Financial Analysis & Trantor Score

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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

1947

Legal Domicile

Principal Officer

HOWARD DULUDE

Phone

4014432803

Tax Period

2023-10-01 to 2024-09-30

HOSPITAL ASSOCIATION OF RHODE ISLAND, founded in 1947, is a community nonprofit that reported $2.6M in total revenue in fiscal year 2023. Expenses of $3.0M exceeded revenue, resulting in a 14% operating deficit.

Mission

TO ASSIST MEMBER HOSPITALS IN EFFECTIVELY SERVING THE HEALTH CARE NEEDS OF RHODE ISLAND, THROUGH ADVOCACY, REPRESENTATION, EDUCATION AND SERVICES.

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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 $733,287

Program Service Revenue $1,751,320

Investment Income $53,553

Other Revenue $94,579

TOTAL REVENUE $2,632,739

Expense Breakdown

Grants Paid $17,573

Salaries & Benefits $2,167,796

Fundraising Expenses $0

Other Expenses $817,420

TOTAL EXPENSES $3,002,789

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,632,739	$2,546,442	+0.0%
Expenses	$3,002,789	$2,582,596	+0.2%
Net Income	$-370,050	$-36,154	+9.2%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$494,705

Total Directors

$494,705

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HOWARD DULUDE - VP FINANCE	TO 6/24, INTERIM PRES FROM 8/24	40.00	Officer Director	$124,394	$33,000	$157,394
MARY MARRAN	CHAIR	1.00	Officer Director	$0	$0	$0
AARON ROBINSON	VICE CHAIR	1.00	Officer Director	$0	$0	$0
MICHAEL SOUZA	MEMBER	1.00	Director	$0	$0	$0
MARIA DUCHARME	MEMBER	1.00	Director	$0	$0	$0
CRISTA DURAND	MEMBER	1.00	Director	$0	$0	$0
JOHN FERNANDEZ	MEMBER (UNTIL 6/2024)	1.00	Director	$0	$0	$0
SARAH FROST	MEMBER (FROM 6/2024)	1.00	Director	$0	$0	$0
ANA TUYA FULTON	MEMBER	1.00	Director	$0	$0	$0
SHERI GODFRIN	MEMBER (FROM 6/2024)	1.00	Director	$0	$0	$0
PAARI GOPALAKRISHNAN	MEMBER	1.00	Director	$0	$0	$0
BRETT JOHNSON	MEMBER	1.00	Director	$0	$0	$0
JEFFREY LIEBMAN	MEMBER	1.00	Director	$0	$0	$0
RICHARD LISITANO	MEMBER	1.00	Director	$0	$0	$0
EDWARD D MCGOOKIN	MEMBER	1.00	Director	$0	$0	$0
BRENDA L MELONE	MEMBER (UNTIL 5/2024)	1.00	Director	$0	$0	$0
AMANDA OBERLIES	MEMBER	1.00	Director	$0	$0	$0
DANIEL PARKINSON	MEMBER (FROM 6/2024)	1.00	Director	$0	$0	$0
PATRICIA POITEVIEN	MEMBER	1.00	Director	$0	$0	$0
HENRY SACHS	MEMBER	1.00	Director	$0	$0	$0
SHANNON SULLIVAN	MEMBER	1.00	Director	$0	$0	$0
TERESA PAIVA WEED	PRESIDENT (UNTIL 8/2024)	40.00	Officer Director	$306,429	$30,882	$337,311
LISA TOMASSO	VP OF STRATEGY & PUBLIC RELATIONS	40.00	Highest	$176,934	$19,644	$196,578

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	$2,632,739	$3,002,789	$1,895,312	$-370,050
2023	$2,546,442	$2,582,596	$1,737,755	$-36,154
2022	$2,589,217	$2,565,352	$1,648,804	$23,865
2021	$3,455,689	$3,668,913	$1,848,755	$-213,224
2020	$2,666,516	$2,544,778	$1,997,979	$121,738
2019	$2,476,478	$2,447,148	$1,932,071	$29,330
2018	$2,342,474	$2,243,519	$2,019,907	$98,955

HOSPITAL ASSOCIATION OF RHODE ISLAND