UNITED WAY OF RHODE ISLAND INC

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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

1926

Legal Domicile

Principal Officer

CORTNEY M NICOLATO

Phone

4014440600

Tax Period

2024-07-01 to 2025-06-30

UNITED WAY OF RHODE ISLAND INC, founded in 1926, is a mid-sized nonprofit in the Philanthropy & Grantmaking sector that reported $26.7M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion.

Mission

UNITED WAY'S MISSION IS UNITING OUR COMMUNITY AND RESOURCES TO BUILD RACIAL EQUITY AND OPPORTUNITIES FOR ALL RHODE ISLANDERS.

Program Service Accomplishments

Program 1

Expenses: $4,572,619

COMMUNITY IMPACT FUND GRANTS:A TOTAL OF $3,418,610 TO SUPPORT THE COMMUNITY THROUGH GRANTS TO NONPROFIT AGENCIES IN RHODE ISLAND HELPING TO IMPROVE THE RESULTS OF CHILDREN IN SCHOOL, IMPROVING ACCESS TO AFFORDABLE AND SAFE HOUSING, AND DECREASING FOOD INSECURITY; THIS INCLUDES $536,290 TO ENABLE SUMMER LEARNING; $332,901 FOR ENERGY ASSISTANCE; AND, $284,818 FOR VOLUNTARY INCOME TAX ASSISTANCE TO HELP LOWER INCOME RESIDENTS GET THE HIGHEST TAX REFUND POSSIBLE. DETAILS ON OUR COMMUNITY IMPACT WORK CAN BE VIEWED ON OUR WEBSITE AT WWW.UNITEDWAYRI.ORG

Program 2

Expenses: $12,840,207

COMMUNITY IMPACT PROGRAM:A TOTAL OF $5,912,530 TO PROVIDE RESOURCES TO HELP SOLVE COMPELLING SOCIAL AND EDUCATIONAL NEEDS IN RI, COMPLETE RESEARCH AND ANALYTICS OF THOSE NEEDS, AND ADMINISTER GRANTS; THIS INCLUDES $1,697,644 TO RUN THE 2-1-1 CALL CENTER IN RI, ANSWERING OVER 200,000 CALLS FOR THOSE IN NEED; $1,601,208 TO PROVIDE ADRC FOR SENIORS & DISABILITY SERVICES, AS CONTRACTED WITH RI OFFICE OF HEALTHY AGING; $759,865 TO SUPPORT THE ADVOCACY WORK; $2,543,000 RELATED TO WORKFORCE DEVELOPMENT EXPENDITURES IN PROGRAMS UNDER THE LEADERSHIP OF THE RI OFFICE OF POSTSECONDARY EDUCATION; $325,960 TO ENABLE VOLUNTEERS THROUGHOUT RI; INFORMATION ON OUR VOLUNTEER WORK AND OPPORTUNITIES CAN BE FOUND AT WWW.UNITEDWAYRI.ORG/VOLUNTEER.

Program 3

Expenses: $5,584,421

DONOR DESIGNATIONS AND MY FUND:$ 868,881 IN DONOR INVESTMENTS FOR THE ANNUAL UNITED WAY CAMPAIGN WHERE THE DONORS RECOMMEND THAT THEIR GIFTS BE DISBURSED THROUGH UNITED WAY OF RI TO SPECIFIC...

DONOR DESIGNATIONS AND MY FUND:$ 868,881 IN DONOR INVESTMENTS FOR THE ANNUAL UNITED WAY CAMPAIGN WHERE THE DONORS RECOMMEND THAT THEIR GIFTS BE DISBURSED THROUGH UNITED WAY OF RI TO SPECIFIC 501(C)(3) AGENCIES. $4,715,540 IN DONOR INVESTMENTS FOR APPROXIMATELY 525 LEADERSHIP DONORS WHO CHOOSE TO DIRECT THEIR GIFTS TO THEIR UNITED WAY OF RHODE ISLAND MYFUND ACCOUNT (DONOR ADVISED FUND). THESE LEADERSHIP DONORS THEN MADE RECOMMENDATIONS TO UNITED WAY OF RI DURING THE FISCAL YEAR REQUESTING GIFTS TO BE DIRECTED TO 501 (C)(3) AGENCIES. TO LEARN MORE ABOUT DONOR DIRECTED GIVING, PLEASE VISIT OUR WEBSITE AT WWW.UNITEDWAYRI.ORG

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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 (2024)

Revenue Breakdown

Contributions & Grants $25,476,126

Program Service Revenue $0

Investment Income $950,616

Other Revenue $242,625

TOTAL REVENUE $26,669,367

Expense Breakdown

Grants Paid $13,191,714

Salaries & Benefits $9,564,685

Fundraising Expenses $1,960,473

Program Expenses $22,997,247

Other Expenses $3,836,691

TOTAL EXPENSES $26,593,090

Year-over-Year Comparison

	2024	2023	Change
Revenue	$26,669,367	$24,066,699	+0.1%
Expenses	$26,593,090	$25,578,283	+0.0%
Net Income	$76,277	$-1,511,584	-1.1%

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

129

Volunteers

1169

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

$762,499

Total Directors

$355,865

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CORTNEY NICOLATO	PRESIDENT AND CEO	37.50	Officer Director	$319,145	$36,720	$355,865
DOLPH JOHNSON	BOARD CHAIR (TO 9/24)	1.00	Officer Director	$0	$0	$0
PAOLA FERNANDEZ	BOARD CHAIR (AS OF 10/24)	1.00	Officer Director	$0	$0	$0
ANTHONY BOTELHO	VICE CHAIR (TO 12/24)	1.00	Officer Director	$0	$0	$0
JAYNE DONEGAN	VICE CHAIR	1.00	Officer Director	$0	$0	$0
JUNIOR JABBIE	VICE CHAIR (TO 6/25)	1.00	Officer Director	$0	$0	$0
GREGG PERRY	VICE CHAIR	1.00	Officer Director	$0	$0	$0
SEAN ROGERS	VICE CHAIR	1.00	Officer Director	$0	$0	$0
RAMONA ROYAL	VICE CHAIR	1.00	Officer Director	$0	$0	$0
BARBARA CHERNOW	TREASURER	1.00	Officer Director	$0	$0	$0
CHRISTOPHER SABITONI	SECRETARY	1.00	Officer Director	$0	$0	$0
JOANNE DALY	DIRECTOR	1.00	Director	$0	$0	$0
COURTNEY HAWKINS	DIRECTOR	1.00	Director	$0	$0	$0
KATE KISHFY	DIRECTOR	1.00	Director	$0	$0	$0
YAHAIRA PLACENCIA	DIRECTOR	1.00	Director	$0	$0	$0
RENA SHEEHAN	DIRECTOR	1.00	Director	$0	$0	$0
SURESH SWAMINATHAN	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS BUDRIS	DIRECTOR (AS OF 6/25)	1.00	Director	$0	$0	$0
SARAH LATHAM	DIRECTOR (AS OF 9/24)	1.00	Director	$0	$0	$0
CAROLYN BELISLE	DIRECTOR (AS OF 10/24)	1.00	Director	$0	$0	$0
GREG CORNETT	DIRECTOR (AS OF 6/25)	1.00	Director	$0	$0	$0
MICHELLE CARR	DIRECTOR (AS OF 9/24)	1.00	Director	$0	$0	$0
PAIGE PARKS	DIRECTOR (AS OF 6/25)	1.00	Director	$0	$0	$0
RACHEL COPE	DIRECTOR (AS OF 6/25)	1.00	Director	$0	$0	$0
MARCELA BETANCUR	DIRECTOR (AS OF 10/24)	1.00	Director	$0	$0	$0
CHARLES CARVALHO	DIRECTOR (AS OF 9/24)	1.00	Director	$0	$0	$0
WES COTTER	DIRECTOR (TO 6/25)	1.00	Director	$0	$0	$0
SRINI KRISHNAMURTHY	DIRECTOR (TO 6/25)	1.00	Director	$0	$0	$0
ROBERT BUSH	CHIEF STRATEGY & OPERATIONS OFFICER	37.50	Officer	$200,293	$27,144	$227,437
MARY ANN CANAVAN	CHIEF FINANCIAL OFFICER	37.50	Officer	$155,552	$23,645	$179,197
LARRY WARNER	CHIEF IMPACT & EQUITY OFFICER	37.50	Highest	$180,792	$5,757	$186,549
KYLE BENNETT	CHIEF OF STAFF & PUBLIC AFFAIRS OFFICER	37.50	Highest	$134,404	$27,999	$162,403
CRISTINA AMEDEO	SENIOR DIRECTOR, COMMUNITY SERVICES	37.50	Highest	$105,924	$26,605	$132,529
JESSICA BARRY	SR. DIR. OF DONOR RELATION	37.50	Highest	$109,866	$4,037	$113,903
KEVIN MATTA	SR. DIR. OF PEOPLE & CULTURE	37.50	Highest	$122,706	$12,411	$135,117

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
2025	$26,669,367	$26,593,090	$30,110,151	$76,277
2024	$24,066,699	$25,578,283	$31,839,884	$-1,511,584
2023	$21,078,823	$21,556,401	$28,320,599	$-477,578
2022	$23,014,896	$27,048,593	$29,334,248	$-4,033,697
2021	$45,188,674	$35,897,161	$35,273,997	$9,291,513
2020	$19,451,906	$17,197,747	$24,638,111	$2,254,159
2019	$17,215,201	$17,307,571	$23,285,964	$-92,370
2018	$18,416,316	$19,311,227	$17,975,892	$-894,911